The foreign broker expects Voltas to outperform expectations in the room air conditioner segment, capturing a market share of 23% by FY26, exceeding the current consensus estimate of 19.5%.

The broker believes Voltas' joint venture with Turkey's Arcelik, Voltbek, will continue to gain market share and reach profitability by FY26. The JV is expected to significantly contribute to Voltas's consumer electronics segment, generating an incremental revenue of Rs 10,000 crore by FY27, representing 60% of the segment's total revenue in that year.

Voltas is a premier air conditioning and engineering solutions provider and a projects specialist. The company is part of the Tata Group. In addition to room air conditioners, it also has air coolers, air purifiers, water dispensers, water coolers, commercial refrigeration and commercial air conditioning products in its portfolio.

The company’s consolidated net loss narrowed to Rs 28 crore in Q3 FY24 from Rs 110 crore in Q3 FY23. Total income for the quarter ended 31 December 2023 was higher by 32% at Rs 2,684 crore as compared to Rs 2,036 crore in the corresponding quarter last year.