Voltas share price: Voltas shares plunge 11% as Q3 margins hit 10-year low, CEO to step down
Voltas shares tumbled 11.40 per cent to ₹1,306.05 on the NSE today following disappointing third-quarter margins and the announcement of upcoming leadership changes. The Tata Group company’s Unitary Cooling Products segment recorded its lowest margin in a decade at 5.9 per cent for Q3 FY2025.
While the company returned to profitability with a net profit of ₹132 crore in Q3, compared to a ₹30 crore loss in the same quarter last year, it fell short of market expectations of ₹155 crore. Revenue grew 18 per cent year-on-year to ₹3,105 crore, exceeding analysts’ estimates of ₹3,015 crore.
The company’s overall EBITDA margin of 6.4 per cent missed the projected 7.1 per cent, contributing to negative market sentiment. In a significant management change, Managing Director and CEO Pradeep Bakshi announced he would not seek reappointment when his term ends in August 2025. The board has approved Mukundan Menon as the new Managing Director and Sonia Singh as an additional director and non-executive independent director, subject to shareholder approval.
