Voltas Q2 FY26 profit dips, but market share grows

Voltas Limited reported a consolidated total income of ₹2,411.93 crores for Q2 FY26, a decrease from ₹2,724.58 crores in the same period last year. Profit before tax stood at ₹54.12 crores, down from ₹205.43 crores in Q1 FY25, with net profit reaching ₹31.50 crores compared to ₹132.83 crores last year. The company attributed the Q2 results to an atypical quarter for the unitary cooling products business due to an extended monsoon and GST-related demand deferment.

Despite these headwinds, Voltas improved its market share in the cooling products category, increasing sequentially from 16.0% in Q4 FY25 to 17.8% in Q1 FY26, and further to 18.5% in Q2 FY26, widening the gap over its closest competitor to 2.9%. The company expects a positive demand rebound in H2 FY26, driven by GST rate reductions and the upcoming BEE energy efficiency transition. Strategic initiatives include product portfolio upgrades, distribution network expansion, and cost optimization.

The electro mechanical projects and services segment remains a strategic stabilizer with a robust consolidated order book exceeding ₹6,200 crores, split between ₹4,800 crores for domestic projects and ₹1,400 crores from international operations. The Voltbek home appliances business continues its growth trajectory, gaining market share across key product categories. Voltas remains optimistic about H2 FY26, anticipating improved inventory levels and cash cycles.