NEW DELHI, Feb. 26 -- Voltas Ltd's December quarter results have surprised analysts positively. Its unitary cooling products (UCP) business was the star performer last quarter, reporting a robust 40% year-on-year (y-o-y) revenue growth. That's a striking improvement from the 9% growth seen in the September quarter. In the December quarter, pent-up demand and increased stocking by dealers helped the segment.
"UCP revenue growth (ahead of listed peers) in a seasonally lean quarter reflects channel filling ahead of price increases initiated in January 2021," said analysts from Emkay Global Financial Services Ltd in a report on 15 February. The segment's earnings before interest and tax (Ebit) margins expanded by 235 basis points (bps) to 12.5...