Voltas Ltd Q4FY21 consolidated net profit at Rs. 237.73 crore

VOLTAS LTD. has reported financial results for the period ended March 31, 2021.

Financial Results (Q4 FY20-21) - QoQ Comparison

The company has reported total income of Rs.2683.24 crores during the period ended March 31, 2021 as compared to Rs.2046.26 crores during the period ended December 31, 2020.

The company has posted net profit / (loss) of Rs.237.73 crores for the period ended March 31, 2021 as against net profit / (loss) of Rs.127.91 crores for the period ended December 31, 2020.

The company has reported EPS of Rs.7.18 for the period ended March 31, 2021 as compared to Rs.3.87 for the period ended December 31, 2020.

Financials	Q4 FY20-21	Q3 FY20-21	% Change
Total Income	₹ 2683.24 crs	₹ 2046.26 crs	31.13%
Net Profit	₹ 237.73 crs	₹ 127.91 crs	85.86%
EPS	₹ 7.18	₹ 3.87	85.53%

Financial Results (Q4 FY20-21) - YoY Comparison

The company has reported total income of Rs.2683.24 crores during the period ended March 31, 2021 as compared to Rs.2150.09 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.237.73 crores for the period ended March 31, 2021 as against net profit / (loss) of Rs.158.66 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.7.18 for the period ended March 31, 2021 as compared to Rs.4.80 for the period ended March 31, 2020.

Financials	Q4 FY20-21	Q4 FY19-20	% Change
Total Income	₹ 2683.24 crs	₹ 2150.09 crs	24.8%
Net Profit	₹ 237.73 crs	₹ 158.66 crs	49.84%
EPS	₹ 7.18	₹ 4.80	49.58%

Financial Results (Year ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.7744.64 crores during the 12 months period ended March 31, 2021 as compared to Rs.7888.68 crores during the 12 months period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.525.14 crores for the 12 months period ended March 31, 2021 as against net profit / (loss) of Rs.517.18 crores for the 12 months period ended March 31, 2020.

The company has reported EPS of Rs.15.87 for the 12 months period ended March 31, 2021 as compared to Rs.15.63 for the 12 months period ended March 31, 2020.

Financials	Year Ended FY20-21	Year Ended FY19-20	% Change
Total Income	₹ 7744.64 crs	₹ 7888.68 crs	-1.83%
Net Profit	₹ 525.14 crs	₹ 517.18 crs	1.54%
EPS	₹ 15.87	₹15.63	1.54%

Consolidated Segment Results for the quarter ended 31st March, 2021:

Unitary Cooling Products for Comfort and Commercial use: The Cooling Products business made good recovery, post easing of the lockdown situation and achieved overall volume growth of 18%. Voltas continues to be the market leader and is at No.1 position in ACs with a market share of 25.6% in February 2021 YTD. The brand has further strengthened its position in Air Cooler business and attained a market share of 10.6 % as per latest third party market analysis report. Gross Segment Revenue increased by 20% and was at Rs. 1437 crores as compared to Rs. 1199 crores in the corresponding quarter last year. Segment Result was significantly higher by 28% at Rs.225 crores as compared to Rs. 175 crores in the corresponding quarter last year.

Electro-Mechanical Projects and Services: Segment Revenue for the quarter was higher by 37% at Rs. 1104 crores as compared to Rs. 805 crores in the corresponding quarter last year. Segment Result was also higher at Rs. 93 crores as compared to Rs.11 crores last year

Engineering Products and Services: Segment Revenue and Result for the quarter were higher at Rs. 98 crores and Rs. 34 crores as compared to Rs. 95 crores and Rs. 27 crores, respectively in the corresponding quarter last year.

Consolidated Results for the year ended 31st March, 2021:

COVID-19 induced lockdown in the first few months of the current year unfortunately coincided with the peak season for the Room Air-conditioner business. Thus, the overall performance of the Company has been impacted and is not strictly comparable with the previous year. The Consolidated Total Income for the year ended March 31, 2021 was at Rs. 7745 crores as compared to Rs. 7889 crores last year. Profit before tax (PBT) was at Rs. 709 crores as compared to Rs. 744 crores last year. However, Net Profit (after tax) was higher by 2% at Rs. 529 crores as compared to Rs. 521 crores last year. Earnings per Share (Face Value per share of Re. 1) as at 31st March, 2021 was also higher at Rs. 15.87 as compared to Rs. 15.63 last year.

Consolidated Segment Results for the year ended 31st March, 2021:

Unitary Cooling Products for Comfort and Commercial use: Gross Segment Revenue was Rs. 3555 crores as compared to Rs. 4074 crores last year. Segment Result was at Rs. 502 crores as compared to Rs. 512 crores in the corresponding period last year. Despite losing the peak season sale in Q1 owing to lockdown, the business has made smart recovery in the subsequent quarters and reduced the overall impact.

Electro-Mechanical Projects and Services: Segment Revenue was higher at Rs. 3566 crores as compared to Rs. 3246 crores in the corresponding period last year. Segment Result was however lower at Rs. 109 crores as compared to Rs. 170 crores last year, primarily due to conservative time based provisions, amidst liquidity constraints on the legacy projects.

Engineering Products and Services: Segment Revenue and Result were higher at Rs. 359 crores and Rs. 114 crores as compared to Rs. 332 crores and Rs. 99 crores, respectively in the corresponding period last year.

Shares of VOLTAS LTD. was last trading in BSE at Rs.1010.3 as compared to the previous close of Rs. 968.4. The total number of shares traded during the day was 300356 in over 6062 trades.

The stock hit an intraday high of Rs. 1015.95 and intraday low of 962.45. The net turnover during the day was Rs. 298283640.

Source : Equity Bulls

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