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 ₹ 49,035 Cr.
- Current Price ₹ 1,482
- High / Low ₹ 1,500 / 745
- Stock P/E 175
- Book Value ₹ 173
- Dividend Yield 0.29 %
- ROCE 9.67 %
- ROE 4.42 %
- Face Value ₹ 1.00
Pros
- Company has been maintaining a healthy dividend payout of 57.2%
Cons
- Stock is trading at 8.58 times its book value
- The company has delivered a poor sales growth of 8.20% over past five years.
- Company has a low return on equity of 8.28% over last 3 years.
- Earnings include an other income of Rs.246 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 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
5,186 | 5,531 | 5,266 | 5,183 | 5,720 | 6,033 | 6,404 | 7,124 | 7,658 | 7,556 | 7,934 | 9,499 | 11,235 | |
5,021 | 5,293 | 5,000 | 4,773 | 5,376 | 5,484 | 5,742 | 6,564 | 7,040 | 6,975 | 7,362 | 9,045 | 10,861 | |
Operating Profit | 165 | 238 | 266 | 411 | 344 | 549 | 663 | 560 | 618 | 580 | 572 | 454 | 374 |
OPM % | 3% | 4% | 5% | 8% | 6% | 9% | 10% | 8% | 8% | 8% | 7% | 5% | 3% |
120 | 102 | 121 | 154 | 261 | 212 | 178 | 174 | 179 | 189 | 188 | -77 | 246 | |
Interest | 31 | 33 | 23 | 23 | 16 | 16 | 12 | 33 | 21 | 26 | 26 | 30 | 48 |
Depreciation | 34 | 28 | 25 | 28 | 26 | 24 | 24 | 24 | 32 | 34 | 37 | 40 | 46 |
Profit before tax | 219 | 280 | 340 | 514 | 563 | 720 | 805 | 677 | 744 | 709 | 697 | 307 | 526 |
Tax % | 26% | 26% | 28% | 25% | 30% | 28% | 28% | 24% | 30% | 25% | 27% | 56% | |
162 | 207 | 246 | 388 | 393 | 520 | 578 | 514 | 521 | 529 | 506 | 136 | 281 | |
EPS in Rs | 4.90 | 6.28 | 7.42 | 11.62 | 11.70 | 15.64 | 17.30 | 15.35 | 15.63 | 15.87 | 15.23 | 4.08 | 8.45 |
Dividend Payout % | 33% | 25% | 25% | 19% | 22% | 22% | 23% | 26% | 26% | 32% | 36% | 104% |
Compounded Sales Growth | |
---|---|
10 Years: | 6% |
5 Years: | 8% |
3 Years: | 7% |
TTM: | 22% |
Compounded Profit Growth | |
---|---|
10 Years: | 2% |
5 Years: | -16% |
3 Years: | -24% |
TTM: | -20% |
Stock Price CAGR | |
---|---|
10 Years: | 25% |
5 Years: | 20% |
3 Years: | 15% |
1 Year: | 85% |
Return on Equity | |
---|---|
10 Years: | 12% |
5 Years: | 10% |
3 Years: | 8% |
Last Year: | 4% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 33 | 33 | 33 | 33 | 33 | 33 | 33 | 33 | 33 | 33 | 33 | 33 | 33 |
Reserves | 1,445 | 1,593 | 1,786 | 2,069 | 2,778 | 3,274 | 3,872 | 4,077 | 4,247 | 4,960 | 5,466 | 5,419 | 5,681 |
225 | 262 | 264 | 122 | 271 | 171 | 142 | 315 | 219 | 261 | 361 | 651 | 555 | |
2,454 | 2,676 | 2,660 | 2,662 | 2,788 | 2,991 | 3,249 | 3,091 | 3,657 | 3,402 | 3,874 | 4,171 | 3,740 | |
Total Liabilities | 4,157 | 4,564 | 4,744 | 4,886 | 5,869 | 6,469 | 7,296 | 7,515 | 8,156 | 8,655 | 9,734 | 10,274 | 10,010 |
289 | 300 | 288 | 269 | 276 | 300 | 297 | 343 | 380 | 388 | 384 | 525 | 527 | |
CWIP | 5 | 0 | 2 | 4 | 1 | 1 | 4 | 16 | 26 | 9 | 59 | 98 | 150 |
Investments | 312 | 407 | 732 | 1,094 | 1,975 | 2,268 | 2,754 | 2,386 | 2,343 | 3,046 | 3,615 | 3,109 | 3,182 |
3,551 | 3,857 | 3,721 | 3,519 | 3,617 | 3,901 | 4,242 | 4,771 | 5,406 | 5,212 | 5,676 | 6,542 | 6,150 | |
Total Assets | 4,157 | 4,564 | 4,744 | 4,886 | 5,869 | 6,469 | 7,296 | 7,515 | 8,156 | 8,655 | 9,734 | 10,274 | 10,010 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
-267 | 84 | 295 | 311 | 219 | 428 | 325 | -321 | 462 | 556 | 584 | 159 | |
135 | 65 | -285 | -104 | -315 | -73 | -199 | 393 | -210 | -256 | -365 | -82 | |
-27 | -60 | -79 | -236 | 48 | -211 | -181 | -18 | -294 | -122 | -107 | 55 | |
Net Cash Flow | -159 | 89 | -68 | -29 | -47 | 143 | -55 | 53 | -42 | 179 | 113 | 133 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 82 | 90 | 93 | 94 | 87 | 88 | 89 | 92 | 87 | 87 | 97 | 84 |
Inventory Days | 80 | 86 | 85 | 88 | 65 | 78 | 65 | 76 | 97 | 84 | 103 | 79 |
Days Payable | 142 | 151 | 154 | 156 | 156 | 172 | 174 | 165 | 177 | 161 | 182 | 149 |
Cash Conversion Cycle | 20 | 25 | 24 | 26 | -4 | -6 | -19 | 3 | 7 | 9 | 18 | 14 |
Working Capital Days | 48 | 46 | 42 | 35 | 38 | 36 | 40 | 57 | 59 | 60 | 54 | 54 |
ROCE % | 22% | 16% | 17% | 22% | 19% | 22% | 22% | 17% | 18% | 15% | 13% | 10% |
Documents
Announcements
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Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015
8h - Company has received an Order from the Office of the Deputy Commissioner, Ernakulam, Kerala.
- Board Meeting Intimation for Board Meeting For Consideration Of Audited Financial Results For The Year Ended 31St March, 2024 25 Apr
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Intimation Under Regulation 30 Of SEBI(LODR), Regulations, 2015
25 Apr - Company has received an Order from the Office of the Commercial Tax Officer, Pondy Bazar, Chennai.
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Compliance Of Regulation 40(9) Of SEBI (LODR) Regulations, 2015
19 Apr - Copy of Certificate dated 17th April, 2024 received from M/s. N.L. Bhatia & Associates, Practising Company Secretaries, confirming timely dispatch of Share Certificates/ Letter of …
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Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015
19 Apr - Company has received an Order from the Office of the Deputy Commissioner of State Tax, Excise and Taxation Department, Ropar, Punjab.
Annual reports
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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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Financial Year 2011
from nse
Concalls
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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]