Voltas Ltd
Voltas is engaged in the business of air conditioning, refrigeration, electro - mechanical projects as an EPC contractor both in domestic and international geographies (Middle East and Singapore) and engineering product services for mining, water management and treatment, construction equipments and textile industry.
Voltas was created 6 decades ago when Tata Sons joined hands with a swiss company Volkart Brothers. Voltas is also one of the most reputed engineering solution providers specializing in project management. [1]
The company has 5,000+ Customer sites actively managed across India [2]
- Market Cap ₹ 47,980 Cr.
- Current Price ₹ 1,450
- High / Low ₹ 1,560 / 745
- Stock P/E 193
- Book Value ₹ 176
- Dividend Yield 0.38 %
- ROCE 8.51 %
- ROE 4.40 %
- Face Value ₹ 1.00
Pros
- Company is expected to give good quarter
- Company has been maintaining a healthy dividend payout of 72.8%
- Company's working capital requirements have reduced from 46.8 days to 32.4 days
Cons
- Stock is trading at 8.24 times its book value
- Company has a low return on equity of 6.09% over last 3 years.
- Earnings include an other income of Rs.253 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Consumer Durables Industry: Air-conditioners
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
5,531 | 5,266 | 5,183 | 5,720 | 6,033 | 6,404 | 7,124 | 7,658 | 7,556 | 7,934 | 9,499 | 12,481 | |
5,293 | 5,000 | 4,773 | 5,376 | 5,484 | 5,742 | 6,564 | 7,040 | 6,975 | 7,362 | 9,045 | 12,145 | |
Operating Profit | 238 | 266 | 411 | 344 | 549 | 663 | 560 | 618 | 580 | 572 | 454 | 336 |
OPM % | 4% | 5% | 8% | 6% | 9% | 10% | 8% | 8% | 8% | 7% | 5% | 3% |
102 | 121 | 154 | 261 | 212 | 178 | 174 | 179 | 189 | 188 | -77 | 253 | |
Interest | 33 | 23 | 23 | 16 | 16 | 12 | 33 | 21 | 26 | 26 | 30 | 56 |
Depreciation | 28 | 25 | 28 | 26 | 24 | 24 | 24 | 32 | 34 | 37 | 40 | 48 |
Profit before tax | 280 | 340 | 514 | 563 | 720 | 805 | 677 | 744 | 709 | 697 | 307 | 486 |
Tax % | 26% | 28% | 25% | 30% | 28% | 28% | 24% | 30% | 25% | 27% | 56% | 49% |
207 | 246 | 388 | 393 | 520 | 578 | 514 | 521 | 529 | 506 | 136 | 248 | |
EPS in Rs | 6.28 | 7.42 | 11.62 | 11.70 | 15.64 | 17.30 | 15.35 | 15.63 | 15.87 | 15.23 | 4.08 | 7.62 |
Dividend Payout % | 25% | 25% | 19% | 22% | 22% | 23% | 26% | 26% | 32% | 36% | 110% | 72% |
Compounded Sales Growth | |
---|---|
10 Years: | 9% |
5 Years: | 12% |
3 Years: | 18% |
TTM: | 31% |
Compounded Profit Growth | |
---|---|
10 Years: | 1% |
5 Years: | -14% |
3 Years: | -22% |
TTM: | 2% |
Stock Price CAGR | |
---|---|
10 Years: | 21% |
5 Years: | 19% |
3 Years: | 13% |
1 Year: | 91% |
Return on Equity | |
---|---|
10 Years: | 11% |
5 Years: | 8% |
3 Years: | 6% |
Last Year: | 4% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 33 | 33 | 33 | 33 | 33 | 33 | 33 | 33 | 33 | 33 | 33 | 33 |
Reserves | 1,593 | 1,786 | 2,069 | 2,778 | 3,274 | 3,872 | 4,077 | 4,247 | 4,960 | 5,466 | 5,419 | 5,787 |
262 | 264 | 122 | 271 | 171 | 142 | 315 | 219 | 261 | 361 | 651 | 744 | |
2,676 | 2,660 | 2,662 | 2,788 | 2,991 | 3,249 | 3,091 | 3,657 | 3,402 | 3,874 | 4,171 | 5,430 | |
Total Liabilities | 4,564 | 4,744 | 4,886 | 5,869 | 6,469 | 7,296 | 7,515 | 8,156 | 8,655 | 9,734 | 10,274 | 11,994 |
300 | 288 | 269 | 276 | 300 | 297 | 343 | 380 | 388 | 384 | 525 | 548 | |
CWIP | 0 | 2 | 4 | 1 | 1 | 4 | 16 | 26 | 9 | 59 | 98 | 368 |
Investments | 407 | 732 | 1,094 | 1,975 | 2,268 | 2,754 | 2,386 | 2,343 | 3,046 | 3,615 | 3,109 | 3,508 |
3,857 | 3,721 | 3,519 | 3,617 | 3,901 | 4,242 | 4,771 | 5,406 | 5,212 | 5,676 | 6,542 | 7,571 | |
Total Assets | 4,564 | 4,744 | 4,886 | 5,869 | 6,469 | 7,296 | 7,515 | 8,156 | 8,655 | 9,734 | 10,274 | 11,994 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
84 | 295 | 311 | 219 | 428 | 325 | -321 | 462 | 556 | 584 | 159 | 762 | |
65 | -285 | -104 | -315 | -73 | -199 | 393 | -210 | -256 | -365 | -82 | -522 | |
-60 | -79 | -236 | 48 | -211 | -181 | -18 | -294 | -122 | -107 | 55 | -116 | |
Net Cash Flow | 89 | -68 | -29 | -47 | 143 | -55 | 53 | -42 | 179 | 113 | 133 | 123 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 90 | 93 | 94 | 87 | 88 | 89 | 92 | 87 | 87 | 97 | 84 | 74 |
Inventory Days | 86 | 85 | 88 | 65 | 78 | 65 | 76 | 97 | 84 | 103 | 79 | 79 |
Days Payable | 151 | 154 | 156 | 156 | 172 | 174 | 165 | 177 | 161 | 182 | 149 | 143 |
Cash Conversion Cycle | 25 | 24 | 26 | -4 | -6 | -19 | 3 | 7 | 9 | 18 | 14 | 10 |
Working Capital Days | 46 | 42 | 35 | 38 | 36 | 40 | 57 | 59 | 60 | 54 | 54 | 32 |
ROCE % | 16% | 17% | 22% | 19% | 22% | 22% | 17% | 18% | 15% | 13% | 10% | 9% |
Documents
Announcements
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Appointment In Senior Management Team
1d - Mr. Sorabh Talwar has been appointed as Head - Strategy of the Company effective 1st July, 2024.
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 1d
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 24 Jun
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Announcement under Regulation 30 (LODR)-Restructuring
20 Jun - In continuation of our letter dated 26th April, 2023, the Company has on 20th June, 2024, as part of internal restructuring, executed the Share Purchase …
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Announcement under Regulation 30 (LODR)-Newspaper Publication
18 Jun - Read with Schedule III Part A, Para A of SEBI (LODR), Regulations, 2015, we enclose herewith copies of the Notice published in newspapers (Business Standard …
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Concalls
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May 2024TranscriptPPTREC
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Feb 2024TranscriptPPT
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Oct 2023TranscriptPPT
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Aug 2023TranscriptPPT
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May 2023TranscriptPPT
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Feb 2023TranscriptPPT
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Nov 2022TranscriptPPT
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Aug 2022TranscriptPPT
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May 2022TranscriptPPT
Unitary Cooling Products(UCP) [1]
Unitary Cooling products comprises Air Conditioners, Air Coolers, and Commercial Refrigeration products etc in B2B & B2C segment. As of Fy23, company has 21% market share in room Acs and 36% in window ACs. It has 25,000+ touchpoints, 64 New RAC SKUs, 51 Voltas Fresh Air Coolers SKUs, 23 New Commercial Refrigeration SKUs.[2]