Buy Voltas, target price Rs 1590: 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 | May 09, 2024, 11.27 AM IST

Promoters held 30.3 per cent stake in the company as of 31-Mar-2024, while FIIs owned 14.7 per cent, DIIs 40.22 per cent.

Motilal Oswal has buy call on Voltas with a target price of Rs 1590. The current market price of Voltas Ltd. is Rs 1288.75.

Voltas Ltd., incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 43647.01 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 31-03-2024, the company reported a Consolidated Total Income of Rs 4257.30 Crore, up 58.64 % from last quarter Total Income of Rs 2683.61 Crore and up 41.75 % from last year same quarter Total Income of Rs 3003.46 Crore. Company reported net profit after tax of Rs 148.96 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 30.3 per cent stake in the company as of 31-Mar-2024, while FIIs owned 14.7 per cent, DIIs 40.22 per cent.

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