Johnson Controls-Hitachi Air Condition. India Ltd

Johnson Controls-Hitachi Air Condition. India Ltd

₹ 1,946 -2.68%
19 Jul 4:01 p.m.
About

Johnson Controls-Hitachi Air Conditioning India Ltd is primarily engaged in the business of manufacturing, selling and trading of air conditioners, refrigerators, chillers and VRS systems.[1]

Key Points

Product Portfolio
The company's product portfolio includes various types of room air conditioners (RAC), VRF systems, package air conditioners, chillers, refrigerators, and aqua-guards. [1]

  • Market Cap 5,294 Cr.
  • Current Price 1,946
  • High / Low 2,116 / 938
  • Stock P/E
  • Book Value 214
  • Dividend Yield 0.00 %
  • ROCE -7.49 %
  • ROE -7.97 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company's working capital requirements have reduced from 54.4 days to 25.9 days

Cons

  • Stock is trading at 9.07 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -3.06% over past five years.
  • Company has a low return on equity of -4.82% over last 3 years.
  • Promoters have pledged 32.3% of their holding.
  • Company's cost of borrowing seems high

* 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

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Quarterly Results

Figures in Rs. Crores

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
579 492 397 576 694 1,010 308 518 548 567 280 300 772
502 487 392 529 655 997 362 520 524 603 324 303 690
Operating Profit 77 5 6 47 40 14 -54 -2 23 -36 -44 -3 81
OPM % 13% 1% 1% 8% 6% 1% -17% -0% 4% -6% -16% -1% 11%
4 2 2 1 2 4 4 -12 -0 3 -10 -11 1
Interest 2 3 2 2 2 2 1 2 3 5 5 5 2
Depreciation 21 18 18 18 18 18 19 20 19 16 16 17 16
Profit before tax 58 -14 -12 28 21 -3 -70 -35 2 -54 -75 -35 65
Tax % 23% -24% -25% 26% 27% -24% -24% -25% 149% -24% -24% -23% 25%
44 -11 -9 21 16 -2 -53 -26 -1 -41 -56 -27 49
EPS in Rs 16.34 -4.01 -3.41 7.58 5.77 -0.72 -19.47 -9.62 -0.39 -15.09 -20.74 -9.97 17.95
Raw PDF
Upcoming result date: 30 July 2024

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
930 1,100 1,573 1,641 1,917 2,185 2,241 2,197 1,647 2,159 2,384 1,919
884 1,052 1,435 1,518 1,749 1,986 2,078 2,023 1,529 2,062 2,403 1,920
Operating Profit 46 48 138 123 168 199 164 174 118 97 -18 -1
OPM % 5% 4% 9% 7% 9% 9% 7% 8% 7% 4% -1% -0%
2 6 7 2 7 7 15 6 15 7 -4 -17
Interest 7 12 8 10 4 2 3 5 14 9 8 17
Depreciation 20 30 36 46 52 53 44 56 75 72 75 64
Profit before tax 21 11 101 69 118 151 132 118 43 23 -105 -99
Tax % 26% 29% 23% 27% 31% 34% 35% 29% 24% 29% -22% -24%
15 8 78 50 81 100 86 84 33 16 -82 -76
EPS in Rs 5.63 2.96 28.60 18.38 29.91 36.83 31.61 30.72 12.17 5.93 -30.21 -27.84
Dividend Payout % 23% 51% 5% 8% 5% 4% 5% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 6%
5 Years: -3%
3 Years: 5%
TTM: -20%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 25%
Stock Price CAGR
10 Years: 18%
5 Years: 4%
3 Years: -5%
1 Year: 88%
Return on Equity
10 Years: 7%
5 Years: 0%
3 Years: -5%
Last Year: -8%

Balance Sheet

Figures in Rs. Crores

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 23 27 27 27 27 27 27 27 27 27 27 27
Reserves 213 213 286 331 413 508 586 661 695 713 632 556
166 125 140 160 60 13 190 187 89 112 193 48
429 395 626 591 621 708 736 709 832 942 936 1,026
Total Liabilities 831 760 1,078 1,110 1,121 1,256 1,539 1,584 1,643 1,794 1,789 1,657
178 195 243 265 257 244 232 401 428 391 382 350
CWIP 11 2 3 1 4 2 94 6 9 9 12 31
Investments 0 0 0 0 0 0 0 0 0 0 0 0
643 563 833 843 859 1,010 1,213 1,177 1,205 1,394 1,395 1,276
Total Assets 831 760 1,078 1,110 1,121 1,256 1,539 1,584 1,643 1,794 1,789 1,657

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
68 58 55 62 172 97 -81 140 321 -55 -31 254
-113 -72 -51 -69 -41 -32 -95 -107 -26 -46 -43 -32
114 -56 0 6 -110 -53 170 -45 -191 9 65 -172
Net Cash Flow 69 -70 4 -2 20 12 -6 -12 104 -92 -8 50

Ratios

Figures in Rs. Crores

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 65 63 66 62 54 69 73 42 59 70 49 72
Inventory Days 185 152 186 178 138 116 140 190 249 199 177 178
Days Payable 209 159 190 149 133 130 137 144 224 175 145 214
Cash Conversion Cycle 40 55 63 92 59 55 77 89 83 94 82 36
Working Capital Days 44 38 49 50 41 45 74 76 58 72 66 26
ROCE % 8% 6% 27% 16% 24% 29% 20% 15% 6% 4% -10% -7%

Shareholding Pattern

Numbers in percentages

2 Recently
Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
74.25% 74.25% 74.25% 74.25% 74.25% 74.25% 74.25% 74.25% 74.25% 74.25% 74.25% 74.25%
0.95% 0.88% 0.99% 1.01% 1.04% 1.03% 0.76% 0.63% 0.49% 0.48% 0.50% 1.24%
13.59% 13.04% 12.61% 12.47% 11.71% 11.57% 11.14% 10.04% 9.06% 8.90% 8.43% 7.96%
11.21% 11.82% 12.15% 12.26% 13.01% 13.15% 13.84% 15.08% 16.19% 16.36% 16.81% 16.53%
No. of Shareholders 35,86435,78436,44435,15135,23035,64135,67834,26437,54336,75537,38434,053

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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