Voltas Limited is India’s leading air conditioning and engineering solutions company, with a legacy spanning over 65 years. Originally established as a joint venture between Tata Sons and Volkart Brothers (Switzerland) in 1954, Voltas has evolved into a diversified player offering air conditioning, refrigeration, electro-mechanical projects, and engineering services across domestic and international markets (Middle East, Africa, Southeast Asia). Headquartered in Mumbai, the company is a market leader in room air conditioners and project-based HVAC solutions for commercial and industrial clients. As of January 2026, Voltas is benefiting from rising urbanisation, infrastructure development, and government focus on energy-efficient cooling—but trades at a premium valuation that reflects high growth expectations. This article provides a data-driven outlook on the Voltas share price target 2026–2030.
Voltas Limited: Company Overview
- Founded: 1954
- Managing Director: Mr Pradeep Bakshi
- NSE Symbol: VOLTAS
- Core Segments:
- Air Conditioning & Home Appliances (65%)
- Electro-Mechanical Projects (25%) – EPC contracts for airports, metros, hospitals
- Engineering Products & Services (10%) – mining, water treatment, textile machinery
- Market Position: #1 in room ACs in India; key EPC partner for national infrastructure projects
Voltas leverages strong brand recall, a pan-India service network, and cost-efficient manufacturing to maintain leadership in a highly competitive consumer durables market.
Voltas Limited: Key Financial Snapshot
| Metric | Value |
|---|---|
| Current Share Price | ₹1,398 |
| Market Capitalization | ₹46,216.33 Cr |
| No. of Shares Outstanding | 33.09 Cr |
| 52-Week High / Low | ₹1,902 / ₹1,135 |
| P/E Ratio (TTM) | 85.64 |
| P/B Ratio | 5.75 |
| EPS (TTM) | ₹16.31 |
| Book Value (TTM) | ₹242.88 |
| ROE | 9.94% |
| ROCE | 12.90% |
| Dividend Yield | 0.50% |
| Face Value | ₹1 |
| Cash | ₹488.32 Cr |
| Debt | ₹565.16 Cr |
| Promoter Holding | 30.30% |
| Sales Growth (YoY) | 30.02% |
| Profit Growth (YoY) | 28.55% |
Voltas Share Price Target Forecast (2026–2030)
| Year | Target Price Range (₹) |
|---|---|
| 2026 | ₹1,480 – ₹1,620 |
| 2027 | ₹1,580 – ₹1,750 |
| 2028 | ₹1,680 – ₹1,900 |
| 2029 | ₹1,780 – ₹2,100 |
| 2030 | ₹1,880 – ₹2,300 |
Voltas Share Price Target 2026
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2026 | ₹1,480 | ₹1,620 |
Voltas reported 28.55% YoY profit growth and 30.02% sales growth in FY2025, driven by strong demand in residential ACs and large EPC orders. However, its P/E of 85.64x and ROE of just 9.94% indicate a rich valuation relative to return efficiency. The 2026 target range assumes continued execution in project wins and stable margins.
Voltas Share Price Target 2027
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2027 | ₹1,580 | ₹1,750 |
If the company sustains 20–25% earnings growth and benefits from government infrastructure spending, EPS could reach ₹18–₹19 by FY27. Assuming a P/E of 82–84x (slight multiple contraction), the 2027 target is justified.
Voltas Share Price Target 2028
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2028 | ₹1,680 | ₹1,900 |
By 2028, benefits from export expansion and green HVAC solutions should reflect in margins. A P/E of 83–85x on projected EPS of ₹19–₹21 supports the ₹1,680–₹1,900 band.
Voltas Share Price Target 2029
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2029 | ₹1,780 | ₹2,100 |
Long-term tailwinds include India’s cooling demand (projected to triple by 2030) and smart city initiatives. If competition doesn’t erode pricing, EPS could reach ₹21–₹23 by FY29. At a P/E of 84–86x, the 2029 target is ₹1,780–₹2,100.
Voltas Share Price Target 2030
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2030 | ₹1,880 | ₹2,300 |
Over a five-year horizon, Voltas remains a high-growth consumer-industrial hybrid—not a value stock. A terminal P/E of 85–88x on FY30 EPS (~₹22–₹25) justifies the ₹1,880–₹2,300 range.
Voltas Limited: Shareholding Pattern
| Category | Holding (%) |
|---|---|
| Promoters (Tata Sons) | 30.30% |
| Domestic Institutional Investors (DII) | 35.82% |
| Foreign Institutional Investors (FII) | 20.26% |
| Public & Others | 13.62% |
High institutional ownership (56.08%) ensures liquidity and analyst coverage. Promoter pledge is negligible.
Voltas Limited: Strengths vs Risks
Strengths:
- Market leader in Indian AC segment with strong brand trust
- Diversified revenue from EPC projects reduces cyclicality
- Consistent dividend payer (0.5% yield + 68% payout ratio)
- Backed by the Tata Group legacy (though not majority-owned)
Risks:
- Extremely high P/E (85.6x) offers no margin of safety
- ROE (9.94%) lags behind peers like Blue Star (~18%)
- Seasonal demand and raw material (copper) volatility
- Intense competition from LG, Daikin, and Godrej
Investment Suitability
| Factor | Assessment |
|---|---|
| Risk Profile | Moderate to High |
| Ideal Time Horizon | 5+ years |
| Volatility | Higher than market average (Beta: 1.3) |
| Dividend/Income Potential | Low (0.50% yield) |
| Best For | Growth investors seeking exposure to India’s cooling and infrastructure boom |
FAQs
Is VOLTAS a good stock to buy?
Only for long-term, risk-tolerant portfolios. Avoid if you seek low-valuation or high-return stocks. Its premium valuation demands flawless execution.
Is VOLTAS owned by Tata?
Partially. Tata Sons holds 30.3% as promoters, making it a Tata Group-associated company, but not fully owned. The original JV was with the Swiss firm Volkart Brothers.
What is the price of VOLTAS today?
As of January 13, 2026, the Voltas share price is ₹1,398.
Is VOLTAS a large-cap company?
No. With a market cap of ₹46,216 Cr, Voltas is classified as a mid-cap stock under SEBI guidelines (large-cap threshold: top 100 companies).
Final Verdict
Voltas Limited is a high-quality player in India’s essential cooling and infrastructure ecosystem. While not cheap, its strategic positioning offers long-term optionality.
Our Voltas share price target 2026–2030 (₹1,480 to ₹2,300) reflects steady earnings growth and sustained investor confidence. Upside is substantial if infrastructure momentum continues; downside is cushioned by brand strength and order book visibility.
Disclaimer: Price targets are estimates based on publicly available data and sector analysis. They are not investment advice. Consult a SEBI-registered advisor before making decisions.
Sources
- Screener.in – Voltas Consolidated Page (FY2025 + TTM)
- Finology Ticker – VOLTAS Financials & Analysis
- Groww.in – Voltas Stock Profile
- Voltas Investor Presentation (Q3 FY26, Jan 2026)
- Bureau of Energy Efficiency (BEE) – India Cooling Action Plan 2025
