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'Buy' Voltas Maintains Motilal Oswal, Target Of Rs 1710 — Here's Why
Motilal Oswal reiterate Buy rating on Voltas with an SoTP-based target price of Rs 1,710, with 50x FY27E EPS for UCP segment, 25x FY27E EPS for the PES and EMPS segments, and Rs 22/share for Voltbek.
20 Mar 2025, 10:29 AM IST 
While the brokerage estimates the UCP segment’s margin to be in the high single digits, higher volume growth could surprise positively.
(Photo: Usha Kunji/ Source: NDTV Profit)
Demand for room AC has started strong in the ongoing summer season of CY25, and the current inventory, along with the tie-up for compressors, will support Voltas' growth in Q4 FY25. The competition is projecting ~30% YoY growth in Q4, and the company aims to outperform its peers.
