India's Voltas falls after analysts flag weak near-term demand, margin concerns

Voltas

22/09/2025 06:32

** Shares of air-conditioner maker Voltas VOLT.NS fall 2.1% to 1,390 rupees

** Brokerages flag near-term pressure on demand and margins, despite an optimistic outlook for the second half of fiscal 2026 driven by tax cuts and festive demand

** In a meeting with analysts, the company says demand remains weak due to elevated channel inventory and an extended monsoon

** Consumer purchases are also delayed between August 15, when Prime Minister Narendra Modi signaled tax cuts, and September 22, when they take effect

** Nomura notes Voltas struggles to provide growth guidance for fiscal 2025 and warns margins could shrink amid aggressive pricing

** Ambit Capital highlights concerns about regaining market share

** Nuvama and Antique Stock Broking expect softness in sales across key segments

** LSEG data shows the average analyst rating is "hold", with a median target of 1,408.50 rupees

** Voltas shares are down 21% in 2025 so far, trailing the Nifty Midcap 100's .NIFMDCP100 3.2% gain

 (Reporting by Bharath Rajeswaran in Bengaluru)

 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))