VOLTAS
Voltas Limited
If management delivers what it guided
arithmetic on filed guidance and past valuations · not a price target
VOLTAS
FY26 → FY27 · 1 year of guidance · ~0.7 years from today₹1,329 today
BEAR
₹522
-61%
8.7% a year · 42.2x exit
BASE
₹1,062
-20%
15% a year · 81.3x exit
BULL
₹2,010
+51%
20.4% a year · 146.9x exit
Where the market has priced it
26x117x today201x
- the guided figure reached earnings through a low-confidence bridge
- the last 3 years priced this company 35% above its ten-year median (110x vs 81x) — the exit multiple here is the ten-year one, so a sustained re-rating would not be captured
- this company's own median multiple sits 190% above its filed-industry peers; the scenario uses its own
How these numbers are produced
| Earnings base | FY26 fiscal year EPS ₹11.36 (screener) |
|---|---|
| Guided growth | 15% a year, said on the call of 20-May-2026 · transcript |
| Read across as | operating: unlabelled growth figure, read as revenue — low confidence |
| Delivery calibration | 0.58x / 1x / 1.36x of what was guided — measured: 76 annual guided-vs-filed pairs + 77 near-complete quarterly years — NSE transcripts against the companies' own filings |
| Exit multiple | 42.25x / 81.3x / 146.95x, this company’s own p20 / median / p80 across 10 filed years |
| Filed-industry peers | median 28x across 30 peers — the cross-check, not the input |
| Arithmetic | base EPS × (1 + guided growth × delivery)1 × exit multiple |
Arithmetic on management’s own guidance and this company’s own past valuations. Not a price target, not a recommendation, and not a forecast of what the stock will do.
What management said
from NSE earnings-call filings · extracted, not interpreted
generic growth 15%
Now projection for going forward, this will certainly expect it to grow at least 15% to 20% is what we feel because the last year base was a little weak.
Call 20-May-2026 · bridge confidence low · transcript PDF