Voltas share price today: Jefferies pegs price target at Rs 1175 - Key details investors must know
Jefferies said that Voltas 4Q EBITDA was 41% above expectations as both the engineering (MEP) and cooling segments, primarily AC, saw a margin surprise. MEP (Electro-Mechanical Projects) and cooling segment margins were 8.4% vs 1.4% YoY (4.5% in 4QFY19) and 15.6% vs 14.6% YoY (10.4% in 4QFY19). Jefferies said it has lowered FY22E-23E EPS by 7-8% as state lockdowns should affect 1QFY22E AC sales
Voltas’ 4QFY20 was a stellar quarter, with cooling segment revenues rising 20% YoY while peers reported declines due to the March 2020 lockdown: Reuters