Voltas

₹1630.7 -7.6 | 0.5%

WEBSITE BSE:500575 NSE : VOLTAS LTD 15 Jan, 12:32

Market Cap ₹53957 Cr.

Stock P/E 217.1

P/B 8.6

Current Price ₹1630.7

Book Value ₹ 189.8

Face Value 1

52W High ₹1946.2

Dividend Yield 0.34%

52W Low ₹ 989.4

Edit Ratio

Voltas Research see more...

Equity Research Report: Voltas

Overview Inc. Year: 1954Industry: Air Conditioners

Voltas Limited is an India-based employer, that is engaged in offering air conditioning and cooling merchandise, engineering tasks and engineering services and products. Its section consists of Unitary Cooling Products for Comfort and Commercial use section, which is engaged in production, promoting and after sales offerings of cooling appliances and cold storage merchandise; Electro - Mechanical Projects and Services phase, which incorporates electricals, HVAC (heating, air flow and aircon), plumbing, firefighting, more low voltage (ELV) and specialized services, Facilities Maintenance and Hard Services, which consist of Operations and Maintenance (O&M) contracts in numerous sectors, retrofits and electricity management and Water Solutions, which encompass water treatment solutions for business, oil and fuel and domestic sewage segments and Engineering Products and Services phase, which consists of material machinery and mining and production system..

Voltas Share Price

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Peer Comparison

Voltas Quarterly Results

#(Fig in Cr.)	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Net Sales	2768	1768	2006	2957	3360	2293	2626	4203	4921	2619
Other Income	27	64	31	47	70	71	58	54	80	105
Total Income	2795	1833	2036	3003	3430	2364	2684	4257	5001	2725
Total Expenditure	2591	1668	1929	2739	3175	2222	2597	4012	4497	2457
Operating Profit	204	165	107	265	255	141	86	245	504	268
Interest	4	7	6	12	10	11	14	21	10	14
Depreciation	8	10	11	10	11	12	13	12	13	16
Exceptional Income / Expenses	0	-106	-137	0	0	0	0	0	0	0
Profit Before Tax	191	42	-48	242	234	118	60	212	481	238
Provision for Tax	51	19	30	71	73	49	51	63	117	73
Profit After Tax	140	23	-78	171	160	69	8	149	364	165
Adjustments	-32	-30	-33	-27	-31	-32	-39	-33	-30	-31
Profit After Adjustments	109	-7	-110	144	129	37	-30	116	334	134
Adjusted Earnings Per Share	3.3	-0.2	-3.3	4.4	3.9	1.1	-0.9	3.5	10.1	4.1

Voltas Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Net Sales	5266	5183	5720	6033	6404	7124	7658	7556	7934	9499	12481	14369
Other Income	100	109	137	212	185	197	231	189	189	168	255	297
Total Income	5366	5292	5857	6245	6590	7321	7889	7745	8124	9667	12736	14667
Total Expenditure	5000	4773	5287	5466	5753	6524	6972	6914	7253	8926	12008	13563
Operating Profit	366	519	570	779	837	798	917	830	871	741	728	1103
Interest	23	23	16	16	12	33	21	26	26	30	56	59
Depreciation	25	28	26	24	24	24	32	34	37	40	48	54
Exceptional Income / Expenses	22	46	29	1	1	-12	-51	0	0	-244	0	0
Profit Before Tax	340	514	563	720	805	677	744	709	697	307	486	991
Provision for Tax	94	128	170	200	227	164	223	180	191	171	238	304
Profit After Tax	246	386	393	520	578	514	521	529	506	136	248	686
Adjustments	-0	-2	-6	-2	-6	-6	-4	-4	-2	-1	4	-133
Profit After Adjustments	245	384	387	517	572	508	517	525	504	135	252	554
Adjusted Earnings Per Share	7.4	11.6	11.7	15.6	17.3	15.4	15.6	15.9	15.2	4.1	7.6	16.8

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	31%	18%	12%	9%
Operating Profit CAGR	-2%	-4%	-2%	7%
PAT CAGR	82%	-22%	-14%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	54%	8%	19%	20%
ROE Average	4%	6%	8%	12%
ROCE Average	9%	9%	12%	17%

Voltas Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	1819	2102	2811	3307	3905	4110	4280	4993	5500	5452	5821
Minority's Interest	14	16	27	29	32	35	36	36	38	42	34
Borrowings	5	5	0	0	0	0	5	6	13	21	228
Other Non-Current Liabilities	96	93	51	72	84	-14	47	61	96	109	156
Total Current Liabilities	2785	2635	2950	3042	3271	3285	3714	3504	4056	4620	5756
Total Liabilities	4720	4852	5838	6449	7292	7416	8083	8600	9702	10243	11994
Fixed Assets	288	269	276	254	252	297	335	332	330	475	503
Other Non-Current Assets	417	846	1437	2205	2442	1472	2170	3078	3493	3322	3767
Total Current Assets	4015	3737	4126	3990	4598	5647	5578	5189	5879	6446	7725
Total Assets	4720	4852	5838	6449	7292	7416	8083	8600	9702	10243	11994

Voltas Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	341	273	217	170	313	258	311	269	448	561	693
Cash Flow from Operating Activities	295	311	219	428	325	-321	462	556	584	159	762
Cash Flow from Investing Activities	-285	-104	-315	-73	-199	393	-210	-256	-365	-82	-522
Cash Flow from Financing Activities	-79	-236	48	-211	-181	-18	-294	-122	-107	55	-116
Net Cash Inflow / Outflow	-68	-29	-47	143	-55	53	-42	179	113	133	123
Closing Cash & Cash Equivalent	273	243	170	313	258	311	269	448	561	693	816

Voltas Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	7.42	11.62	11.7	15.64	17.3	15.35	15.63	15.87	15.24	4.08	7.62
CEPS(Rs)	8.18	12.52	12.68	16.45	18.21	16.26	16.72	17.01	16.42	5.32	8.94
DPS(Rs)	1.85	2.25	2.6	3.5	4	4	4	5	5.5	4.25	5.5
Book NAV/Share(Rs)	55.01	63.56	84.99	99.96	118.05	124.24	129.39	150.95	166.25	164.81	175.95
Core EBITDA Margin(%)	5.01	7.88	7.53	9.3	10.14	8.43	8.96	8.49	8.59	6.03	3.79
EBIT Margin(%)	6.84	10.32	10.07	12.08	12.71	9.97	9.99	9.73	9.11	3.55	4.34
Pre Tax Margin(%)	6.41	9.87	9.79	11.82	12.52	9.51	9.72	9.39	8.79	3.23	3.89
PAT Margin (%)	4.64	7.42	6.84	8.53	8.99	7.21	6.8	7	6.38	1.43	1.99
Cash Profit Margin (%)	5.1	7.96	7.3	8.93	9.37	7.55	7.22	7.45	6.85	1.85	2.37
ROA(%)	5.31	8.07	7.35	8.46	8.41	6.99	6.72	6.34	5.53	1.37	2.23
ROE(%)	14.27	19.69	16	17	16.03	12.82	12.42	11.4	9.64	2.49	4.4
ROCE(%)	18.25	24.93	21.8	22.45	21.71	16.77	17.16	15.08	13.01	5.65	8.6
Receivable days	92.82	93.75	85.93	84.48	85.87	86.42	86.52	87.63	89.95	82.65	69.08
Inventory Days	64.68	61.99	50.55	48.86	48.83	48.77	61	66.39	67.65	62.51	54.5
Payable days	158.43	155.96	142.72	161.28	166.66	157.83	166.35	168.59	167.33	147.29	127.72
PER(x)	21.7	24.04	23.66	26.35	35.87	41.06	30.63	63.11	81.67	200.49	144.86
Price/Book(x)	2.93	4.4	3.26	4.12	5.26	5.07	3.7	6.64	7.49	4.96	6.27
Dividend Yield(%)	1.15	0.81	0.94	0.85	0.64	0.63	0.84	0.5	0.44	0.52	0.5
EV/Net Sales(x)	1.01	1.76	1.62	2.23	3.18	2.93	2.06	4.36	5.16	2.84	2.91
EV/Core EBITDA(x)	14.5	17.56	16.23	17.3	24.37	26.13	17.17	39.68	47.04	36.41	49.96
Net Sales Growth(%)	-4.79	-1.58	10.36	5.47	6.16	11.24	7.5	-1.34	5.01	19.72	31.4
EBIT Growth(%)	16.04	48.12	7.74	27.28	8.11	-13.03	0.42	-3.93	-1.66	-53.44	60.86
PAT Growth(%)	18.71	57.05	1.83	32.24	7.2	-11.08	-7.89	1.49	-4.31	-73.08	82.14
EPS Growth(%)	13.75	56.64	0.72	33.65	10.62	-11.27	1.82	1.54	-4.01	-73.22	86.65
Debt/Equity(x)	0.15	0.06	0.1	0.05	0.04	0.08	0.05	0.05	0.07	0.11	0.12
Current Ratio(x)	1.44	1.42	1.4	1.31	1.41	1.72	1.5	1.48	1.45	1.4	1.34
Quick Ratio(x)	1.12	1.09	1.15	1.01	1.16	1.39	1.11	1.12	1.04	1.05	0.97
Interest Cover(x)	16.08	23.09	36.61	45.9	68.53	21.54	36.28	28.12	27.95	11.38	9.69
Total Debt/Mcap(x)	0.05	0.01	0.03	0.01	0.01	0.02	0.01	0.01	0.01	0.02	0.02

Voltas Shareholding Pattern

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	30.3	30.3	30.3	30.3	30.3	30.3	30.3	30.3	30.3	30.3
FII	24.67	24.37	21.58	20.57	19.08	17.83	17.17	14.71	15.08	18.08
DII	29.65	29.64	31.67	33.36	33.84	36.03	37.21	40.59	40.41	37.46
Public	15.38	15.69	16.46	15.77	16.78	15.84	15.32	14.4	14.21	14.16
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	10.03	10.03	10.03	10.03	10.03	10.03	10.03	10.03	10.03	10.03
FII	8.16	8.06	7.14	6.81	6.31	5.9	5.68	4.87	4.99	5.98
DII	9.81	9.81	10.48	11.04	11.2	11.92	12.31	13.43	13.37	12.4
Public	5.09	5.19	5.45	5.22	5.55	5.24	5.07	4.77	4.7	4.69
Others	0	0	0	0	0	0	0	0	0	0
Total	33.09	33.09	33.09	33.09	33.09	33.09	33.09	33.09	33.09	33.09

Pros

Debtor days have improved from 147.29 to 127.72days.
Company is almost debt free.

Cons

Promoter holding is low: 30.3%.
Company has a low return on equity of 6% over the last 3 years.
Stock is trading at 8.6 times its book value.
The company has delivered a poor profit growth of -13% over past five years.

* 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.

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Voltas

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Voltas Research see more...

Overview Inc. Year: 1954Industry: Air Conditioners

Voltas Share Price

Alert Data

Quarterly Price

Peer Comparison

Voltas Quarterly Results

Voltas Profit & Loss

Growth Rates

Voltas Balance Sheet

Voltas Cash Flow

Voltas Ratios

Voltas Shareholding Pattern

Voltas News

IPO

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