Voltas Limited (NSE: VOLTAS, BSE: 500575), a leading air conditioning and engineering solutions provider from the Tata Group, has announced its financial results for the third quarter (Q3) and nine months (9M) ended December 31, 2024, showcasing record revenue, strong profit growth, and leadership transition.
Key Financial Highlights (Consolidated Results)
Quarterly Performance (Q3 FY 2024-25 vs Q3 FY 2023-24)
Total Revenue: ₹3,164 crore, up 18% YoY from ₹2,684 crore.
Profit Before Tax (PBT): ₹191 crore, up 699% YoY from ₹24 crore.
Net Profit (PAT): ₹131 crore, compared to a loss of ₹28 crore in Q3 FY24.
Earnings Per Share (EPS): ₹3.99, compared to (₹0.92) in Q3 FY24.
Nine-Month Performance (9M FY 2024-25 vs 9M FY 2023-24)
Total Revenue: ₹10,890 crore, up 28% YoY from ₹8,477 crore.
PBT: ₹848 crore, up 172% YoY from ₹312 crore.
Net Profit: ₹599 crore, up 337% YoY from ₹137 crore.
Highest-ever nine-month profit in the company's history.
✔ Voltas has maintained strong revenue momentum, driven by robust performance across all business segments.
Segment-Wise Performance
Segment
Q3 FY25 Revenue (₹ crore)
9M FY25 Revenue (₹ crore)
Q3 FY25 Profit (₹ crore)
9M FY25 Profit (₹ crore)
Unitary Cooling Products
1,771
7,155
104
548
Electro-Mechanical Projects & Services
1,190
3,019
57
170
Engineering Products & Services
130
437
37
121
✔ Unitary Cooling Products (UCP) Business:
Market leadership in split & window ACs maintained, with 20.5% market share as of Dec 2024.
42% volume growth in air conditioning products.
Revenue growth:38% YoY, with ₹7,155 crore revenue in 9M FY25.
✔ Electro-Mechanical Projects & Services (EMPS):
Domestic projects grew by 17%, with stronger order book expansion.
International projects in UAE & Saudi Arabia contributed significantly to revenues & profits.
Segment profit turned positive at ₹170 crore in 9M FY25, reversing losses from last year.
Revenue increased slightly to ₹437 crore, but profit declined to ₹121 crore from ₹158 crore YoY.
Voltas Beko – Joint Venture Performance
56% volume growth in home appliances (refrigerators & washing machines).
Washing machine market share crossed 10% for the first time.
Strong distribution expansion & brand positioning boosting demand.
✔ Voltas Beko continues to strengthen its market presence in India.
Leadership Transition Announcement
MD & CEO Change
Mr. Pradeep Bakshi (MD & CEO) to retire on August 31, 2025.
Mr. Mukundan Menon appointed as MD Designate from April 1, 2025, & will take over as MD from September 1, 2025.
Board Appointment
Ms. Sonia Singh appointed as an Independent Director for a five-year term (March 7, 2025 – March 6, 2030).
✔ Smooth leadership transition ensures business continuity & strategic growth.
Strategic Growth Plans & Future Outlook
✔ Expansion of Cooling & HVAC Products:
Strengthening manufacturing capacity for air conditioners & refrigeration.
Increased investments in energy-efficient cooling solutions.
✔ Growth in International Projects:
Expanding presence in the Middle East & South Asia.
Stronger execution capabilities in MEP & solar projects.
✔ Digital & Smart Home Innovation:
Enhancing smart home integration for ACs & appliances.
Focusing on IoT-enabled air conditioning & cooling systems.
✔ Continued Leadership in Consumer Durables:
Maintaining dominant position in cooling & home appliances.
Strengthening distribution & after-sales service networks.
Conclusion
Voltas has delivered record-breaking revenue & profitability in Q3 FY 2024-25, driven by strong air conditioning sales, turnaround in projects business, and continued leadership in home appliances. With a robust order pipeline, strong market position, and leadership transition in place, the company is poised for sustained long-term growth.
