Buy Voltas, target price Rs 1150: Motilal Oswal

Voltas Ltd. key Products/Revenue Segments include Electrical Goods, Contract Revenue, Sale of services, Other Operating Revenue and Scrap for the year ending 31-Mar-2023.

By ETMarkets.com | Updated: Jan 20, 2024, 11.02 AM IST

Promoters held 30.3 per cent stake in the company as of 31-Dec-2023, while FIIs owned 17.18 per cent, DIIs 36.9 per cent.

Motilal Oswal has buy call on Voltas Ltd. with a target price of Rs 1150. The current market price of Voltas Ltd. is Rs 1046.

Voltas Ltd., incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 34676.72 Crore) operating in Consumer Durables sector.

Voltas Ltd. key Products/Revenue Segments include Electrical Goods, Contract Revenue, Sale of services, Other Operating Revenue and Scrap for the year ending 31-Mar-2023.

Financials
For the quarter ended 30-09-2023, the company reported a Consolidated Total Income of Rs 2363.73 Crore, down -31.08 % from last quarter Total Income of Rs 3429.83 Crore and up 28.97 % from last year same quarter Total Income of Rs 1832.74 Crore. Company reported net profit after tax of Rs 68.81 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 30.3 per cent stake in the company as of 31-Dec-2023, while FIIs owned 17.18 per cent, DIIs 36.9 per cent.

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