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Dolat Capital Report
Voltas Ltd.'s Q1 saw good performance across all metrics, ahead of estimates, with room air conditioner volumes growing 10%, double digit Ebit margins continuing at 12.3% and leadership position with a ~27% market share.
The project business also had a good quarter in terms of execution and margins. It continues to focus on its distribution and reach.
Voltas has its strengths- brand name, market share and distribution network which helps in expanding market share while maintaining profitability.
It is aided by its product and regional mix.
It is also splitting its business into business-to-consumer and business-to-business, which will give it a sharper focus on the durables business.
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