India’s leading home appliances and cooling solutions companies, Voltas and Blue Star, posted strong performances for the March quarter (Q4) of the financial year 2024-25, riding on a wave of robust consumer demand and seasonal tailwinds.
| Metric | Voltas | Blue Star |
| Net Profit (Q4 FY25) | ₹236 crore (↑112%) | ₹194 crore (↑21.5%) |
| Revenue (Q4 FY25) | ₹4,847 crore (↑13.8%) | ₹4,018.96 crore (↑20.77%) |
| Operating Profit (PBIDTA) | Not disclosed separately | ₹279.4 crore (↑15.5%) |
| Unitary Products Revenue Growth | 36% volume growth; >70% in coolers | ₹1,960.23 crore (↑14.71%) |
| EMPS Revenue Growth | ₹4,157 crore (↑13%) for FY25 | ₹1,968.17 crore (↑30.62%) in Q4 |
| Losses in EMPS | Reduced to ₹2 crore from ₹108 crore | Not applicable |
| Dividend Recommended | ₹7/share (FV Re 1) | ₹9/share (FV ₹2) |
Voltas reported a significant over two-fold jump in net profit to ₹236 crore in Q4 FY25, compared to ₹111 crore in the same period last year. The growth was driven by higher revenues and improved margins across key business segments.
Total income surged to ₹4,847 crore from ₹4,257 crore in Q4 FY24. For the full year, the company posted a multi-fold increase in net profit at ₹834 crore, up from ₹248 crore in FY24.
The company’s Unitary Cooling Products business saw a strong 36% volume growth, while air coolers registered over 70% growth. The Electro-mechanical Projects and Services division also posted healthy growth of 13% YoY, driven by enhanced project execution and better working capital management. Losses in this segment dropped sharply from ₹108 crore to just ₹2 crore.
However, its Engineering Products and Services business was impacted by macroeconomic headwinds, reflecting some softness. Voltas’ board proposed a dividend of ₹7 per share (face value Re 1) for FY25.
Blue Star reported a 21.47% increase in consolidated net profit at ₹194 crore in Q4 FY25 versus ₹159.71 crore in the year-ago quarter. Revenue rose by 20.77% to ₹4,018.96 crore, boosted by strong traction in both residential and commercial segments amid rising temperatures and increased discretionary spending.
Operating profit (PBIDTA) climbed to ₹279.4 crore, up 15.5% YoY, though the margin slightly declined from 7.3% to 7%.
Segment-wise, Electromechanical and Commercial AC Systems saw a robust 30.62% growth to ₹1,968.17 crore, while the Unitary Products business reported a 14.71% increase in revenue, reaching ₹1,960.23 crore.
Blue Star ended the quarter with a net cash position of ₹640 crore, a marked improvement from ₹456 crore a year earlier. The board recommended a dividend of ₹9 per equity share (face value ₹2) for FY25.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: May 8, 2025, 1:20 PM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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