Voltas a leading air conditioning and engineering services provider, announced on Friday (February 28) that it has completed the transfer of its 92% stake in Saudi Ensas Company for Engineering Services W.L.L., Kingdom of Saudi Arabia, to Universal MEP Projects Pte Ltd (UMPPL), Singapore.
The deal, valued at ₹61.84 crore, was finalised following the fulfilment of all Conditions Precedent and receipt of necessary regulatory approvals.
The Company in an exchange filing said that “As UMPPL is a step-down wholly owned subsidiary of the company, the economic interest of the company in Saudi Ensas Company for Engineering Services W.L.L. remains intact, and it continues to be a wholly owned subsidiary of the company,” Voltas stated.
Voltas reported a strong financial turnaround alongside its stake transfer announcement. The company posted a net profit of ₹130.8 crore for the quarter, recovering from a net loss of ₹28 crore in the previous year. Revenue from operations grew by 18.3%, reaching ₹3,105.1 crore compared to ₹2,625 crore a year ago.
Despite improved earnings, Voltas’ EBITDA stood at ₹197.4 crore, falling short of market expectations of ₹213 crore. However, this marked a significant rise from ₹28 crore in the base quarter. The EBITDA margin improved to 6.4% from 1.1% last year, indicating a stronger overall financial performance for the company.
On March 03, 2025, Voltas’ share price traded 3.64% higher at ₹1,365 at 9:21 AM (IST). Voltas’s share price reached a 52-week high of ₹1,946.20 on September 20, 2025, and a 52-week low of ₹1,024.50 on March 13, 2024. As per BSE, the total traded volume for the stock stood at 8406 shares with a turnover of ₹1.14 crore.
At the current price, Voltas shares are trading at a price-to-earnings (P/E) ratio of 60.51x, based on its trailing 12-month earnings per share (EPS) of ₹22.56, and a price-to-book (P/B) ratio of 5.70, according to exchange data.
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Published on: Mar 3, 2025, 9:27 AM IST
Dev Sethia
Dev is a content writer with over 2 years of experience at Business Today, Times of India, and Financial Express. He has also contributed stories in Hindi for BT Bazaar and Khalsa Bandhan News Paper. A journalism postgraduate from ACJ-Bloomberg, Dev enjoys spending his spare time on the cricket pitch.
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