Hold Voltas, target price Rs 1120: ICICI Direct

ICICI Direct has hold call on Voltas with a target price of Rs 1120. The current market price of Voltas Ltd. is Rs 1000.45. Time period given by analyst is one year when Voltas Ltd. price can reach defined target.

Voltas Ltd., incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 33629.47 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-2021.



Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 2703.78 Crore, up 48.37 % from last quarter Total Income of Rs 1822.34 Crore and up .77 % from last year same quarter Total Income of Rs 2683.24 Crore. Company reported net profit after tax of Rs 211.56 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 30.3 per cent stake in the company as of 31-Mar-2022, while FIIs owned 26.19 per cent, DIIs 27.84 per cent.