Voltas Q4FY22 and Year Ended result : Income up 0.77%, but Profit fall 23.15% to ₹182.7 Cr YoY

Net Profit of ₹182.70 crore in the quarter ended on March 31, 2022 as against ₹237.73 crore in the corresponding quarter ended in last year on Mar 31, 2021. The PAT surges down by 23.15%.

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Voltas Limited is a six decade old company in India with expertise in Air Conditioning & Cooling technology. The company is broadly structured into projects and products business. The projects business is classified into Domestic Projects Group (DPG) and International Operations Business Group (IOBG). While the products business is classified into Unitary Products Business Group (UPBG), Mining & Construction Equipment Division (MCED) and Textile Machinery Division (TMD).

Voltas (NSE) is the market leader in room air conditioners in India with market share of more than 25% (as per the latest published reports for FY19).Voltas’ operations have been organized into three independent business-specific clusters viz. Electro-Mechanical Projects & Services Engineering Products & Services and Unitary Cooling Products. The company has posted its Q4FY22 and year ended financial results on 5th May,2022, the details are as below :

(I) Audited Consolidated Financial Results for Quarter Ended (YoY comparison):

The company has reported, a consolidated Total Income of ₹2,703.78 crore in the quarter ended on March 31, 2022 as against ₹2,683.24 crore in the corresponding quarter ended last year on Mar 31, 2021, increased by 0.77%.

The company has posted a consolidated Net Profit of ₹182.70 crore in the quarter ended on March 31, 2022 as against ₹237.73 crore in the corresponding quarter ended in last year on Mar 31, 2021. The PAT surges down by 23.15%.

The status of the EPS of the company stood at ₹5.52 as on March 31, 2022 compared to the previous quarter ended on Mar 31, 2021 which was ₹7.18, down by 23.12%.

₹*Mar 31, 2022 (Q4FY22)Dec 31, 21 (Q3FY22)Mar 31, 21 (Q4FY21)
Total Income2,703.781822.342,683.24
Total Expenses2427.531651.272304.22
PBT /(Loss)247.40139.07320.85
Total Tax /(credit)64.6942.5182.13
PAT /(Loss) [to the owners]182.7095.98237.73
*figures are in Crores

(II) Audited Consolidated Financial Result details for the Year Ended :

The company has reported, a consolidated Total Income of ₹8,123.64 crore in the financial year ended on March 31, 2022 as against ₹7,744.64 crore for the financial year ended on Mar 31, 2021, increased by 4.89%.

The company has posted a consolidated Net Profit of ₹504.09 crore in the financial year ended on March 31, 2022 as against ₹524.14 crore for the financial year ended on March 31, 2021. The PAT surges down by 4.01%.

The status of the EPS of the company stood at ₹15.23 as on March 31, 2022 compared to the previous year ended on March 31, 2021 which was ₹15.87, down by 4.03%.

₹*Mar 31, 2022 (FY22)Mar 31, 2021 (FY21)
Total Income8,123.647,744.64
Total Expenses7316.036974.46
PBT /(Loss)697.30709.21
Total Tax /(credit)191.30180.42
PAT /(Loss)504.09524.14
*figures are in Crores

(III) Key Highlights about the Performance :

  • Segment Revenue was higher by 16% at ₹4882 crores as compared to ₹4218 crores last year.
  • Electro-Mechanical Projects and Services: Segment Revenue was ₹2471 crores as compared to ₹2879 crores in the corresponding period last year. Segment Result was however, significantly higher at ₹126 crores as compared to ₹27 crores last year, due to project execution efficiencies and a heathy project mix.
  • Engineering Products and Services: Segment Revenue and Result were higher at ₹489 crores and ₹158 acres as compared to ₹359 crores and ₹114 crores, respectively in the corresponding period last year
  • The extended winter coupled with spread of third wave of mutant (omicron) during January / February 2022 affected the trade and consumer sentiments resulting in lower primary offtake of cooling products by channel partners. However, the hot weather turned the market outlook in March 2022 resulting in partial sales recovery for the Quarter. The Segment has reported higher Revenue of ₹1818 crores as compared to ₹1655 crores in the corresponding quarter last year. The increase in commodity prices /input costs along with a time lag in passing out the cost increase effectively to the sales value chain has affected the margin
  • Voltas continues to be the market share of 25.4% YTD January 2022.

The stock of Voltas Ltd last hit in BSE,

  • Intraday High of ₹ 1097.05
  • Intraday low of ₹ 1045.00