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Prabhudas Lilladher Report
Voltas Ltd. share price corrected after Q4 FY22 results, over concerns of losing market share in room air conditioner segment. However, it recovered to 24.1% in June 2022 as compared to 23.4% year-to-date in March 2022 (versus 25.8% year-to-date November 2021), thanks to pricing action and customer centric scheme.
Market share recovery has also happened at the expense of margins (6.4% in Q1 FY23) and management indicated prolonged weakness in margins, due to rising inflation and competition.
We believe that Voltas will be able to fully recover its market share in the near term, with its strong brand presence and wide product portfolio.
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