Edelweiss maintains buy on Voltas, target price Rs 808

Edelweiss has maintained buy rating on Voltas in the long term with a target price of Rs 808. Shares of Voltas ended down 0.1% at Rs 678.95 on Monday while BSE Sensex closed 70.99 points down at 40,938.72.

Company Financials

For the quarter ended 30-09-2019, the company has reported consolidated sales of Rs 1415.02 crore, down -46.54 % from last quarter sales of Rs 2646.67 crore and up .02% from last year same quarter sales of Rs 1414.70 crore. The company has reported net profit after tax of Rs 116.43 crore in the latest quarter.


The company’s top management includes Mr.Anil George, Mr.Arun Kumar Adhikari, Mr.Bahram N Vakil, Mr.D Sarangi, Mr.Hemant Bhargava, Mr.Noel N Tata, Mr.Pradeep Bakshi, Mr.V Deshpande, Mr.Zubin S Dubash, Ms.Anjali Bansal. Company has S R B C & Co. LLP as its auditors. As on 30-09-2019, the company has a total of 330,884,740 shares outstanding.

Investment Rationale

The brokerage has maintained Voltas as its top pick in consumer durables. The brokerage sees significant potential for Voltas and the Volt-Bek JV in room ACs, refrigerators and washing machines given the huge unmet demand in the country, the company’s scalable business model and the heft an incumbent enjoys.