New Delhi, Dec. 22 -- Voltas Ltd's FY26 is set to be a forgettable one. Consolidated revenue for the year is expected to decline. For the half-year ended September (H1FY26), total operating revenue fell 16.6% to Rs.6,286 crore, with the unitary cooling products business contributing about 65%, down 24% versus the same period of FY25. Blame the delayed onset of summer, an extended monsoon and GST-related demand deferment for this performance.

In an interaction with analysts recently, Voltas executives pointed out that while the demand scenario still remains muted, it is improving.

"Management commentary indicated that while the industry could see a decline in Q3, the decline should be less than Q2 on account of pre-buying from the channe...