New Delhi, Aug. 11 -- Voltas Ltd's shares fell about 5% on Monday after it put up a weaker-than-expected show in the June quarter (Q1FY26) and management commentary pointed to a slow recovery.

Consolidated total operating revenue fell 20% year-on-year to Rs.3,939 crore, but the bigger disappointment was the much steeper 58% fall in Ebitda to Rs.179 crore, with margin plunging 408 basis points (bps).

Expectations from Q1 results were already low owing to a dull season, marked by the delayed onset of summer, relatively milder temperatures and early monsoon. This hurt demand for cooling products such as air conditioners. Plus, it didn't help that last year's June quarter had seen sharp growth, leading to a high base.

Voltas's unitary cool...