Results     19-Feb-22
Analysis
Voltas
Net down 25%, sales down 10%
 

Consolidated net sales (including other operating income) of Voltas has declined 10.08% to Rs 1793.59 crore.  Operating profit margin has jumped from 7.31% to 8.68%, leading to 6.68% rise in operating profit to Rs 155.64 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 46.10% to 49.43%.   Purchase of finished goods cost fell from 29.02% to 27.72%.   Employee cost decreased from 7.85% to 7.38%.   Other expenses fell from 9.63% to 8.12%. Other income fell 44.30% to Rs 28.75 crore.  PBIDT fell 6.64% to Rs 184.39 crore.  Provision for interest rose 13.12% to Rs 3.62 crore.  PBDT fell 6.97% to Rs 180.77 crore.  Provision for depreciation rose 15.34% to Rs 9.7 crore.  Profit before tax down 7.98% to Rs 171.07 crore.  Share of profit/loss was 59.52% lower at Rs -32 crore.  Provision for tax was expense of Rs 42.51 crore, compared to Rs 37.2 crore.  Effective tax rate was 30.57% compared to 22.43%. Minority interest decreased 20.55% to Rs 0.58 crore.  Net profit attributable to owners of the company decreased 24.96% to Rs 95.98 crore.  
  • Sales of Electro - Mechanical Projects and services segment has gone down 34.60% to Rs 553.78 crore (accounting for 31.25% of total sales).  Sales of Engineering Products and services segment has gone up 3.12% to Rs 124.68 crore (accounting for 7.04% of total sales).  Sales of Unitary Cooling Products for comfort and commercial use segment rose 9.07% to Rs 1,093.60 crore (accounting for 61.71% of total sales).  
  • Profit before interest, tax and other unallocable items (PBIT) has jumped 5.45% to Rs 178.01 crore.  PBIT of Electro - Mechanical Projects and services segment rose 166.25% to Rs 36.29 crore (accounting for 20.39% of total PBIT).  PBIT of Engineering Products and services segment rose 24.88% to Rs 40.01 crore (accounting for 22.48% of total PBIT).  PBIT of Unitary Cooling Products for comfort and commercial use segment fell 17.40% to Rs 101.71 crore (accounting for 57.14% of total PBIT).  
  • PBIT margin of Electro - Mechanical Projects and services segment rose from 1.61% to 6.55%.  PBIT margin of Engineering Products and services segment rose from 26.50% to 32.09%.  PBIT margin of Unitary Cooling Products for comfort and commercial use segment fell from 12.28% to 9.30%.  Overall PBIT margin rose from 8.57% to 10.05%.  

Nine Month Performance

Net sales (including other operating income) of Voltas has increased 7.42% to Rs 5267.87 crore.  Sales of Electro - Mechanical Projects and services segment has gone down 11.20% to Rs 1,778.68 crore (accounting for 34.16% of total sales).  Sales of Engineering Products and services segment has gone up 39.48% to Rs 365.16 crore (accounting for 7.01% of total sales).  Sales of Unitary Cooling Products for comfort and commercial use segment rose 19.49% to Rs 3,063.51 crore (accounting for 58.83% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has jumped 38.31% to Rs 516.78 crore.  PBIT of Electro - Mechanical Projects and services reported profit of Rs 78.20 crore compared to loss of Rs 29.57 crore.  PBIT of Engineering Products and services segment rose 45.46% to Rs 117.11 crore (accounting for 22.66% of total PBIT).  PBIT of Unitary Cooling Products for comfort and commercial use segment fell 0.38% to Rs 321.47 crore (accounting for 62.21% of total PBIT).  

PBIT margin of Electro - Mechanical Projects and services segment rose from negative 1.48% to 4.40%.  PBIT margin of Engineering Products and services segment rose from 30.75% to 32.07%.  PBIT margin of Unitary Cooling Products for comfort and commercial use segment fell from 12.59% to 10.49%.  Overall PBIT margin rose from 7.74% to 9.92%.  

Operating profit margin has jumped from 6.33% to 7.98%, leading to 35.38% rise in operating profit to Rs 420.54 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 44.99% to 49.39%.   Purchase of finished goods cost fell from 27.17% to 24.74%.   Employee cost decreased from 9.76% to 8.28%.   Other expenses fell from 11.42% to 9.98%.   

Other income fell 3.36% to Rs 151.99 crore.  PBIDT rose 22.36% to Rs 572.53 crore.  Provision for interest fell 15.07% to Rs 13.36 crore.  

PBDT rose 23.66% to Rs 559.17 crore.  Provision for depreciation rose 11.15% to Rs 27.81 crore.  

Profit before tax grew 24.39% to Rs 531.36 crore.  Share of profit/loss was 109.95% lower at Rs -81.46 crore.  Provision for tax was expense of Rs 126.61 crore, compared to Rs 98.29 crore.  Effective tax rate was 28.14% compared to 25.31%.

Minority interest decreased 28.57% to Rs 1.90 crore.  Net profit attributable to owners of the company increased 11.82% to Rs 321.39 crore.  

Promoters’ stake was 30.30% as of 31 December 2021, compared to 30.30% as of 31 December 2020.  






Voltas : Consolidated Results
 Quarter endedYear to DateYear ended
Particulars202112202012Var.(%)202112202012Var.(%)202103202003Var.(%)
Net Sales (including other operating income)1,793.591,994.64-10.085,267.874,904.127.427,555.787,658.08-1.34
OPM (%)8.687.31136 bps7.986.33165 bps8.498.97-48 bps
OP155.64145.896.68420.54310.6335.38641.36686.66-6.60
Other Inc.28.7551.62-44.30151.99157.28-3.36188.86230.60-18.10
PBIDT184.39197.51-6.64572.53467.9122.36830.22917.26-9.49
Interest3.623.2013.1213.3615.73-15.0726.1521.1023.93
PBDT180.77194.31-6.97559.17452.1823.66804.07896.16-10.28
Depreciation9.78.4115.3427.8125.0211.1533.8931.966.04
PBT171.07185.90-7.98531.36427.1624.39770.18864.2-10.88
Share of Profit/(Loss) from Associates-32-20.06-59.52-81.46-38.8-109.95-60.97-68.711.25
PBT before EO139.07165.84-16.14449.9388.3615.85709.21795.5-10.85
EO Income00-00-0-51.19-
PBT after EO139.07165.84-16.14449.9388.3615.85709.21744.31-4.72
Taxation42.5137.214.27126.6198.2928.81180.42223.26-19.19
PAT96.56128.64-24.94323.29290.0711.45528.79521.051.49
Minority Interest (MI)0.580.73-20.551.92.66-28.573.653.87-5.68
Net profit95.98127.91-24.96321.39287.4111.82525.14517.181.54
P/(L) from discontinued operations net of tax00-00-00-
Net profit after discontinued operations95.98127.91-24.96321.39287.4111.82525.14517.181.54
EPS (Rs)*2.903.87-24.969.718.6911.8215.8716.75-5.22
* EPS is on current equity of Rs 33.09 crore, Face value of Rs 1, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database


Voltas : Consolidated Segment Results
td>-
 Quarter endedYear to DateYear ended
% of (Total)202112202012Var.(%)% of (Total)202112202012Var.(%)% of (Total)202103202003Var.(%)
Sales
Electro - Mechanical Projects and services31.25553.78846.81-34.6034.161,778.682,003.13-11.2038.602,878.603,246.14-11.32
Engineering Products and services7.04124.68120.913.127.01365.16261.8139.484.82359.49331.668.39
Unitary Cooling Products for comfort and commercial use61.711,093.601,002.689.0758.833,063.512,563.7719.4956.574,218.464,073.703.55
Total Reported Sales100.001,772.061,970.40-10.07100.005,207.354,828.717.84100.007,456.557,651.50-2.55
Less: Inter segment revenues 0.000.00- 0.000.00 0.0024.35-
Net Sales100.001,772.061,970.40-10.07100.005,207.354,828.717.84100.007,456.557,627.15-2.24
PBIT
Electro - Mechanical Projects and services20.3936.2913.63166.2515.1378.20-29.57LP3.7327.01170.38-84.15
Engineering Products and services22.4840.0132.0424.8822.66117.1180.5145.4615.77114.3199.2715.15
Unitary Cooling Products for comfort and commercial use57.14101.71123.14-17.4062.21321.47322.71-0.3880.51583.70512.0813.99
Total PBIT100.00178.01168.815.45100.00516.78373.6538.31100.00725.02781.73-7.25
Less : Interest3.623.2013.1213.3615.73-15.0726.1521.1023.93
Add: Other un-allcoable-35.320.23PL-53.5230.44PL10.34-16.32LP
PBIT Margin(%)
Electro - Mechanical Projects and services 6.551.61494.36 4.40-1.48587.27 0.945.25-431.04
Engineering Products and services 32.0926.50559.11 32.0730.75131.96 31.8029.93186.66
Unitary Cooling Products for comfort and commercial use 9.3012.28-298.06 10.4912.59-209.38 13.8412.57126.64
PBT100.00139.07165.84-16.14100.00449.90388.3615.85100.00709.21744.31-4.72
Previous News
  Voltas consolidated net profit declines 10.61% in the June 2022 quarter
 ( Results - Announcements 03-Aug-22   08:56 )
  Voltas reports consolidated net loss of Rs 110.38 crore in the December 2022 quarter
 ( Results - Announcements 09-Feb-23   17:04 )
  Voltas hits record high after brokerage upgrade
 ( Hot Pursuit - 22-Apr-24   15:35 )
  Voltas Ltd Slides 3.9%
 ( Hot Pursuit - 27-Jul-22   09:45 )
  Volumes spurt at Voltas Ltd counter
 ( Hot Pursuit - 06-Sep-23   11:00 )
  Voltas Ltd Spurts 3.11%
 ( Hot Pursuit - 06-Sep-23   09:30 )
  Voltas to table results
 ( Corporate News - 15-Apr-23   16:38 )
  Voltas to discuss results
 ( Corporate News - 02-Feb-21   16:18 )
  Voltas to convene board meeting
 ( Corporate News - 03-May-21   17:41 )
  Board of Voltas approves appointment of CFO and KMP
 ( Corporate News - 19-Jul-21   19:38 )
  Voltas to hold board meeting
 ( Corporate News - 01-Feb-22   19:08 )
Other Stories
  Plastiblends India
  14-Jul-24   15:45
  Avenue Supermarts
  14-Jul-24   07:07
  HCL Technologies
  13-Jul-24   06:27
  Tata Consultancy Services
  12-Jul-24   09:47
  Tata Elxsi
  11-Jul-24   05:54
  Shalby
  08-Jul-24   18:33
  Apollo Hospitals Enterprise
  04-Jun-24   10:04
  ITL Industries
  01-Jun-24   02:14
  International Combustion (India)
  31-May-24   11:32
  Fluidomat
  31-May-24   11:28
Back Top