Wednesday, July 23, 2008

Stock Idea: Voltas

Voltas has announced its first quarter results. The company's standalone net profit was up at Rs 85.1 crore versus Rs 52.2 crore (YoY).
Key takeaways from Voltas concall:
Income from Operations rose by 22% to Rs 1017 crores, as against Rs 834 crores in the same period last year.
Operating Profit (Profit before Tax and Exceptional Income /(Expenses)) increased by 32% to Rs 103 crores as against Rs 78 crores in the same period last year.
Profit after Tax increased by 63% to Rs 85 crores, as compared to Rs 52 crores in the same period last year.
EPS at Rs 2.57 on face value of Re 1 (not annualised).
Total order-book at Rs 5923 crores up by 165%.
International order book at Rs 4600 crore.
The Company’s Electro-mechanical Projects and Services segment’s revenues grew by 24%. The Order Book of this segment stands at Rs 5675 crores, registering a growth of 183%.
The Engineering Products and Services segment’s revenues grew by 23%, in the face of the continuing decline in demand for capital equipment.
Mining & Construction Equipment business achieved 39% growth in sales.
The Unitary Cooling Products for Comfort and Commercial Use segment’s revenues grew by 20% including 29% value growth in air conditioners.
The cash balance as on June 30, 2008 is Rs 370 crore.


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