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Voltas Limited announces Q2, H1 FY19 results

Posted On: 2018-11-07 15:11:57

The Board of Directors of Voltas Limited, the global air conditioning and engineering services provider of the Tata Group, today announced the Consolidated Financial Results (including the Consolidated Segment Report) for the quarter and six months period ended 30th September, 2018.

Consolidated Results for the six months period ended September 30, 2018:

The Consolidated Gross Sales/Income from Operations for the six months period ended September 30, 2018 was higher by 190/o, at Rs. 3549 crores as compared to Rs. 2994 crores in the corresponding period last year. Profit before tax was higher by 3%, at Rs. 403 crores as compared to Rs. 390 crores last year. Profit after tax was higher by4%, at Rs. 294 crores as compared to Rs. 283 crores last year. Earnings per Share (Face Value per share of Re. 1) (not annualized) as at September 30, 2018 improved to Rs. 8.69 as compared to Rs. 8.47 last year. Total Comprehensive Income, including notional mark to market revaluation gains / losses on equity investments, foreign currency translations, etc. was Rs. 279 crores as compared to Rs. 374 crores in the corresponding period last year.

Consolidated Results for the quarter ended 30th September, 2018:

The Consolidated Gross Sales / Income from Operations for the quarter ended 30t hSeptember, 2018 was higher by 37%, at Rs. 1415 crores as compared to Rs. 1032 crores in the corresponding quarter last year. Profit before tax was higher by 8%, at Rs. 140 crores as compared to Rs. 130 crores last year. Profit after tax was higher by 12% at Rs. 107 crores as compared to Rs. 95 crores last year. Earnings per Share (Face Value per share of Re. 1) (not annualized) as at September 30, 2018 improved to Rs. 3.13 as compared to Rs. 2.86 last year. Total Comprehensive Income, including notional mark to market revaluation gains / losses on equity investments, foreign currency translations, etc. was Rs. 37 crores as compared to Rs. 140 crores in the corresponding quarter last year. The Group has aligned its policy of revenue recognition with Ind AS 115 "Revenue from Contracts with Customers" which is effective from 1st April, 2018. The application of Ind AS 115 did not have any significant impact on the financial results and EPS for the quarter ended 30th June, 2018 and 30th September, 2018, respectively and six months ended 30th September, 2018.

Consolidated Segment Results for the quarter ended 30th September, 2018:

Unitary Cooling Products for Comfort and Commercial use: Voltas continues to sustain its No. 1 position in the Room Air-Conditioner market and has further improved its market share to 25.6% in current quarter as compared to 23.2% in the corresponding quarter last year (in Multi-Brand outlets). The Company has ramped up its products, with right products in the energy efficiency Inverter segment which are well received in the market. Segment Revenue for the quarter was higher at Rs. 441 crores as compared to Rs. 408 crores last year. The increase in input costs along with depreciating currency led to a drop in segment results to Rs. 28 crores as compared to Rs. 51 crores in the corresponding quarter last year.

Electro-Mechanical Projects and Services: Segment Revenue for the quarter was higher at Rs. 901 crores as compared to Rs. 557 crores in the corresponding quarter last year. Segment Results was also higher at Rs. 76 crores as compared to Rs. 30 crores last year, reflecting better quality of orders, efficient execution both in domestic and international business with a positive impact of foreign exchange. Carry forward order book of the Segment stood at Rs. 4883 crores.

Engineering Products and Services: Segment Revenue and Results for the quarter were at Rs. 73 crores and Rs. 29 crores as compared to Rs. 67 crores and Rs. 28 crores, respectively in the corresponding quarter last year.

Shares of VOLTAS LTD. was last trading in BSE at Rs.524.05 as compared to the previous close of Rs. 540.3. The total number of shares traded during the day was 281611 in over 5757 trades.

The stock hit an intraday high of Rs. 549 and intraday low of 518.5. The net turnover during the day was Rs. 150001897.


Source: Equity Bulls

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