Integrated Filing — IndAS

General information about company
Scrip Code	500575
NSE Symbol	VOLTAS
MSEI Symbol	NOTLISTED
ISIN	INE226A01021
Name of company	VOLTAS LIMITED
Type of company	Main Board
Class of security	Equity
Date of start of financial year	01-Apr-2024
Date of end of financial year	31-Mar-2025
Date of board meeting when results were approved	07-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	01-May-2025
Description of presentation currency	INR (in Actuals)
Reporting Type	Quarterly
Reporting Quarter	Fourth quarter
Nature of report standalone or consolidated	Standalone
Whether results are audited or unaudited for the quarter ended	Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended	Audited
Segment Reporting	Multi segment
Description of single segment
Start date and time of board meeting	07-May-2025   11:30:00
End date and time of board meeting	07-May-2025   15:50:00
Whether cash flow statement is applicable on company	Yes
Type of cash flow statement	Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification	Declaration of unmodified opinion
Whether the company has any related party?	Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure?	Yes
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public	NA
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of banks staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure.	NA
Whether the company is a high value debt listed entity according to regulation 15 (1A)?	No
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company?	Yes
Latest Date on which RPT policy is updated	2022-05-05
Indicate Company website link for updated RPT policy of the Company	https://www.voltas.in/images/_ansel_image_collector/Related_Party_Transactions_05052022.pdf
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter?	No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity?	No
Not Applicable, No default.

Financial Results Ind-AS
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1	Income
	Revenue from operations	36349100000	112955400000
	Other income	886600000	4005900000
	Total income	37235700000	116961300000
2	Expenses
(a)	Cost of materials consumed	15819900000	52809400000
(b)	Purchases of stock-in-trade	9668100000	37581400000
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	3112900000	-1576100000
(d)	Employee benefit expense	1393200000	5448600000
(e)	Finance costs	168100000	346700000
(f)	Depreciation, depletion and amortisation expense	126400000	561700000
(f)	Other Expenses
1	Other Expenses	3937800000	11432100000
	Total other expenses	3937800000	11432100000
	Total expenses	34226400000	106603800000
3	Total profit before exceptional items and tax	3009300000	10357500000
4	Exceptional items	0	0
5	Total profit before tax	3009300000	10357500000
6	Tax expense
7	Current tax	954200000	2695000000
8	Deferred tax	-149900000	-105100000
9	Total tax expenses	804300000	2589900000
10	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0	0
11	Net Profit Loss for the period from continuing operations	2205000000	7767600000
12	Profit (loss) from discontinued operations before tax	0	0
13	Tax expense of discontinued operations	0	0
14	Net profit (loss) from discontinued operation after tax	0	0
15	Share of profit (loss) of associates and joint ventures accounted for using equity method	0	0
16	Total profit (loss) for period	2205000000	7767600000
17	Other comprehensive income net of taxes	-803700000	390400000
18	Total Comprehensive Income for the period	1401300000	8158000000
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent
	Total profit or loss, attributable to non-controlling interests
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent
	Total comprehensive income for the period attributable to owners of parent non-controlling interests
21	Details of equity share capital
	Paid-up equity share capital	330800000	330800000
	Face value of equity share capital	1	1
27	Details of debt securities
22	Reserves excluding revaluation reserve		0
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	6.66	23.48
	Diluted earnings (loss) per share from continuing operations	6.66	23.48
ii	Earnings per equity share for discontinued operations
	Basic earnings (loss) per share from discontinued operations	0	0
	Diluted earnings (loss) per share from discontinued operations	0	0
ii	Earnings per equity share
	Basic earnings (loss) per share from continuing and discontinued operations	6.66	23.48
	Diluted earnings (loss) per share from continuing and discontinued operations	6.66	23.48
24	Debt equity ratio
25	Debt service coverage ratio
26	Interest service coverage ratio
27	Disclosure of notes on financial results		Notes ; n1) These results have been reviewed by the Board Audit Commtttee at Its Meeting held on 5th May, 2025 and approved by the Board of Directors at its Meeting held on 7th May, 2025. n n2) The Company had through its Oalar Branch entered lnlo a sub-contract along with a consortium partner with a Main Contractor in the year 2010. The Main Contract between the Ultimate Client and the Main Contractor was terminated by the Ultimate Client closer to the completioo of the contract in 2014 citing delays and defects in execution and initialed arbitration proceedings against the Main Contractor for which the final award is pending. Accordingly, the Company had made a comprehensive assessment of the losses arising on account of such termination of the Main contract and cessation of work and accounted for all probable losses on the sub-contract in the earlier years. n nThe Company had Issued bank guarantees amounting to Rs. 390 crores (QAR 166.6 million) to the Main Contractor which have been disclosed as a contingent liability over the years. In June 2023, the Company was intimated of a request received by the Bank from the Main Contractor for encashmenl of the said bank guarantees, which due to certain deficiencies was not paid by the Bank lo the Main Contractor which led to commencement or legal proceedings. The matter is currently sub-Judice and the proceedings are currently oogoing between the Main contractor, the Company and the Bank. As the latest development. all the parties including the Company had filed the respective appeals with the Court of Appeal (Qatar) which has remanded the case matter back to the Court appointed experts to review the objections raised by the respective partles including the bank. The bank guarantee continues to remain unencashed. The Company continues to re-assess its liability under the sub contract at each reporting dale and based on such assessment and legal advice obtained from independent counsel, is confident that it has good grounds lo defend any claims lhat may arise. Accordingly, no further provision has been considered in the financial results. The Company has laken all necessary steps, including legal remedies to safeguard and defend itseff and is closely monitonng the developments as they may arise. n n3) (a) During the year, the Company executed the Share Purchase Agreements with Universal MEP Projects Pie Limited (UMPPL), a slep-d= subsidiary of the Company, for transrer of the Company's investments in its overseas subsidiaries - Weathermaker FZE (Weathermaker) (100%), UAE, Saudi Ensas Company for Engineenng Services W.L.L. (Saudi Ensas), Kingdom of Saudi Arabia (92%) and Lalbuksh Voltas Engineering Services & Trading L.L.C. (Lalvol), Sultanate of Oman (20%) and transfer of shares has been completed. Subsequent to the transfer of these Investments, !he economic interest of the Company in the subsidiary companies so transrerred continues to remain intact. n(b) The Board or Directors of the Company at its Meellng held on March 13th, 2025. approved transfer of overseas branches or the Company at Dubai and Abu Dhabi in UAE to Universal MEP Contracting L.L.C. ('UMCL'), Dubai, UAE, a step-down subsidiary of the Company on a slump sale basis through Business Transfer Agreements ('BTAs') to be executed between the Company and UMCL on or before 30th June, 2025. The transaction is expected to be consummated by 30th September 2025 or such other date as mutually agreed between the Company and UMCL. n n4) Figures of the quarter ended 31st March, 2025 and 31st March, 2024 are the balancing figures between audited figures in respect of the full financial year and the year to dale figures upto the third quarter or the relevant financial year which were subjected to limited review by Auditors. n n5) The Board of Directors have recommended a dividend of Rs 7 per share of Rs. 1 each (700%) lor the year 2024-25.

Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio

Statement of Asset and Liabilities
Particulars		Year ended (dd-mm-yyyy)
Date of start of reporting period		01-Apr-2024
Date of end of reporting period		31-Mar-2025
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Standalone
	Assets
1	Non-current assets
	Property, plant and equipment	8064900000
	Capital work-in-progress	823500000
	Investment property	439400000
	Goodwill	0
	Other intangible assets	28600000
	Intangible assets under development
	Biological assets other than bearer plants
	Investments accounted for using equity method
	Non-current financial assets
	Non-current investments	50868200000
	Trade receivables, non-current
	Loans, non-current	700000
	Other non-current financial assets	2035800000
	Total non-current financial assets	52904700000
	Deferred tax assets (net)
	Other non-current assets	953400000
	Total non-current assets	63214500000
2	Current assets
	Inventories	26353700000
	Current financial asset
	Current investments	3030200000
	Trade receivables, current	16901600000
	Cash and cash equivalents	4721100000
	Bank balance other than cash and cash equivalents	162100000
	Loans, current	6900000
	Other current financial assets	7578400000
	Total current financial assets	32400300000
	Current tax assets (net)
	Other current assets	5148300000
	Total current assets	63902300000
3	Non-current assets classified as held for sale
4	Regulatory deferral account debit balances and related deferred tax Assets
	Total assets	127116800000
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	330800000
	Other equity	80991300000
	Total equity attributable to owners of parent	81322100000
	Non controlling interest
	Total equity	81322100000
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	3822800000
	Trade payables, non-current
	(A) Total outstanding dues of micro enterprises and small enterprises
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises
	Total Trade payable
	Other non-current financial liabilities	343100000
	Total non-current financial liabilities	4165900000
	Provisions, non-current	727200000
	Deferred tax liabilities (net)	583200000
	Deferred government grants, Non-current
	Other non-current liabilities	246700000
	Total non-current liabilities	5723000000
	Current liabilities
	Current financial liabilities
	Borrowings, current	1828800000
	Trade payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	1580400000
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	24416800000
	Total Trade payable	25997200000
	Other current financial liabilities	3334300000
	Total current financial liabilities	31160300000
	Other current liabilities	6173600000
	Provisions, current	2030800000
	Current tax liabilities (Net)	707000000
	Deferred government grants, Current
	Total current liabilities	40071700000
3	Liabilities directly associated with assets in disposal group classified as held for sale
4	Regulatory deferral account credit balances and related deferred tax liability
	Total liabilities	45794700000
	Total equity and liabilites	127116800000
	Disclosure of notes on assets and liabilities

Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars		3 months/ 6 month ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period		01-Jan-2025	01-Apr-2024
Date of end of reporting period		31-Mar-2025	31-Mar-2025
Whether accounts are audited or unaudited		Audited	Audited
Nature of report standalone or consolidated		Standalone	Standalone
1	Segment Revenue (Income)
	(net sale/income from each segment should be disclosed)
1	Segment - A ( Unitary Cooling Products )	34584300000	106139200000
2	Segment - B ( Electro - Mechanical Projects and Services )	1325800000	5684400000
	Total Segment Revenue	35910100000	111823600000
	Less: Inter segment revenue
	Revenue from operations	35910100000	111823600000
2	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
1	Segment - A ( Unitary Cooling Products )	3447700000	8923000000
2	Segment - B ( Electro - Mechanical Projects and Services )	-475200000	-476700000
	Total Profit before tax	2972500000	8446300000
	i. Finance cost	168100000	168100000
	ii. Other Unallocable Expenditure net off Unallocable income	-204900000	-204900000
	Profit before tax	3009300000	10357500000
3	(Segment Asset - Segment Liabilities)
	Segment Asset
1	Segment - A ( Unitary Cooling Products )	51291100000	51291100000
2	Segment - B ( Electro - Mechanical Projects and Services )	7211900000	7211900000
	Total Segment Asset	58503000000	58503000000
	Un-allocable Assets	68613800000	68613800000
	Net Segment Asset	127116800000	127116800000
4	Segment Liabilities
	Segment Liabilities
1	Segment - A ( Unitary Cooling Products )	30506600000	30506600000
2	Segment - B ( Electro - Mechanical Projects and Services )	6114800000	6114800000
	Total Segment Liabilities	36621400000	36621400000
	Un-allocable Liabilities	9173300000	9173300000
	Net Segment Liabilities	45794700000	45794700000
	Disclosure of notes on segments

Other Comprehensive Income
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
1	Items that are not to be reclassified to profit and loss	-932800000	489900000
	Total Amount of items that will not be reclassified to profit and loss	-932800000	489900000
2	Income tax relating to items that will not be reclassified to profit or loss	-129100000	99500000
3	Amount of items that will be reclassified to profit and loss
	Total Amount of items that will be reclassified to profit and loss
4	Income tax relating to items that will be reclassified to profit or loss
5	Total Other comprehensive income	-803700000	390400000

Cash flow statement, indirect
Particulars				Year ended (dd-mm-yyyy)
A	Date of start of reporting period			2024-04-01
B	Date of end of reporting period			2025-03-31
C	Whether results are audited or unaudited			Audited
D	Nature of report standalone or consolidated			Standalone
Part I	Blue color marked fields are non-mandatory.
	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax			10357500000
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs			346700000
	Adjustments for decrease (increase) in inventories			-5578500000
	Adjustments for decrease (increase) in trade receivables, current			-64200000
	Adjustments for decrease (increase) in trade receivables, non-current			0
	Adjustments for decrease (increase) in other current assets			-1198600000
	Adjustments for decrease (increase) in other non-current assets			0
	Adjustments for other financial assets, non-current			0
	Adjustments for other financial assets, current			-66700000
	Adjustments for other bank balances			0
	Adjustments for increase (decrease) in trade payables, current			-563300000
	Adjustments for increase (decrease) in trade payables, non-current			0
	Adjustments for increase (decrease) in other current liabilities			939700000
	Adjustments for increase (decrease) in other non-current liabilities			0
	Adjustments for depreciation and amortisation expense			561700000
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss			0
	Adjustments for provisions, current			275100000
	Adjustments for provisions, non-current			0
	Adjustments for other financial liabilities, current			1050600000
	Adjustments for other financial liabilities, non-current			0
	Adjustments for unrealised foreign exchange losses gains			-100700000
	Adjustments for dividend income			798800000
	Adjustments for interest income			739200000
	Adjustments for share-based payments			0
	Adjustments for fair value losses (gains)			-1513400000
	Adjustments for undistributed profits of associates			0
	Other adjustments for which cash effects are investing or financing cash flow			0
	Other adjustments to reconcile profit (loss)			0
	Other adjustments for non-cash items			-300400000
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships			0
	Total adjustments for reconcile profit (loss)			-7750000000
	Net cash flows from (used in) operations			2607500000
	Dividends received			0
	Interest paid			0
	Interest received			0
	Income taxes paid (refund)			2370800000
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) operating activities			236700000
	Cash flows from used in investing activities
	Cash flows from losing control of subsidiaries or other businesses			1118400000
	Cash flows used in obtaining control of subsidiaries or other businesses			1774700000
	Other cash receipts from sales of equity or debt instruments of other entities			23211500000
	Other cash payments to acquire equity or debt instruments of other entities			19804700000
	Other cash receipts from sales of interests in joint ventures			0
	Other cash payments to acquire interests in joint ventures			1024100000
	Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships			0
	Cash payment for investment in partnership firm or association of persons or limited liability partnerships			0
	Proceeds from sales of property, plant and equipment			167800000
	Purchase of property, plant and equipment			2056300000
	Proceeds from sales of investment property			0
	Purchase of investment property			0
	Proceeds from sales of intangible assets			0
	Purchase of intangible assets			0
	Proceeds from sales of intangible assets under development			0
	Purchase of intangible assets under development			0
	Proceeds from sales of goodwill			0
	Purchase of goodwill			0
	Proceeds from biological assets other than bearer plants			0
	Purchase of biological assets other than bearer plants			0
	Proceeds from government grants			0
	Proceeds from sales of other long-term assets			0
	Purchase of other long-term assets			0
	Cash advances and loans made to other parties			0
	Cash receipts from repayment of advances and loans made to other parties			0
	Cash payments for future contracts, forward contracts, option contracts and swap contracts			0
	Cash receipts from future contracts, forward contracts, option contracts and swap contracts			0
	Dividends received			798900000
	Interest received			606500000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			-1068400000
	Net cash flows from (used in) investing activities	174900000
	Cash flows from used in financing activities
	Proceeds from changes in ownership interests in subsidiaries			0
	Payments from changes in ownership interests in subsidiaries			0
	Proceeds from issuing shares			0
	Proceeds from issuing other equity instruments			0
	Payments to acquire or redeem entity's shares			0
	Payments of other equity instruments			0
	Proceeds from exercise of stock options			0
	Proceeds from issuing debentures notes bonds etc			0
	Proceeds from borrowings			4997700000
	Repayments of borrowings			3392200000
	Payments of lease liabilities			138400000
	Dividends paid			1819400000
	Interest paid			263600000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) financing activities			-615900000
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes			-204300000
	Effect of exchange rate changes on cash and cash equivalents
	Effect of exchange rate changes on cash and cash equivalents			-5200000
	Net increase (decrease) in cash and cash equivalents			-209500000
	Cash and cash equivalents cash flow statement at beginning of period			4930600000
	Cash and cash equivalents cash flow statement at end of period			4721100000