Voltas Restructures Saudi Operations with ₹61.84 Crore Stake Transfer
Voltas has completed the transfer of its 92% stake in Saudi Ensas to its Singapore-based subsidiary, UMPPL, for ₹61.84 crore, effectively restructuring its holding without altering its economic interest. The move enhances operational efficiency while maintaining full control over Saudi Ensas. Meanwhile, the company reported a net profit of ₹130.8 crore, missing estimates of ₹155 crore, despite an 18.3% YoY revenue growth to ₹3,105.1 crore, surpassing expectations. EBITDA stood at ₹197.4 crore, with margins improving to 6.4% from 1.1% in the base quarter, albeit below forecasts. While topline growth remains strong, near-term profitability pressures persist, warranting a close watch on cost efficiencies and margin expansion strategies.