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Consolidated net sales of Voltas for the quarter ended Sep 2022 has increased 4.69% to Rs 1768.36 crore. Operating profit margin has declined from 7.64% to 5.70%, leading to 21.90% decline in operating profit to Rs 100.84 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 48.16% to 57.27%. Purchase of finished goods cost fell from 24.99% to 17.71%. Employee cost increased from 9.22% to 10.15%. Other expenses fell from 9.91% to 9.01%. Other income rose 33.37% to Rs 64.38 crore. PBIDT fell 6.86% to Rs 165.22 crore. Provision for interest rose 8.01% to Rs 6.74 crore. PBDT fell 7.40% to Rs 158.48 crore. Provision for depreciation rose 2.11% to Rs 9.7 crore. Profit before tax down 7.96% to Rs 148.78 crore. Share of profit/loss was 53.04% lower at Rs -28.91 crore. Provision for tax was expense of Rs 19.48 crore, compared to Rs 38.47 crore. Effective tax rate was 144.94% compared to 26.95%. Minority interest increased 101.47% to Rs 1.37 crore. - Sales of Electro - Mechanical Projects and services segment has gone up 3.27% to Rs 554.04 crore (accounting for 31.86% of total sales). Sales of Engineering Products and services segment has gone up 9.53% to Rs 137.37 crore (accounting for 7.90% of total sales). Sales of Unitary Cooling Products for comfort and commercial use segment rose 4.06% to Rs 1,047.71 crore (accounting for 60.24% of total sales).
- Profit before interest, tax and other unallocable items (PBIT) has slumped 8.83% to Rs 138.83 crore. PBIT of Electro - Mechanical Projects and services segment rose 26.57% to Rs 14.34 crore (accounting for 10.33% of total PBIT). PBIT of Engineering Products and services segment rose 22.44% to Rs 48.02 crore (accounting for 34.59% of total PBIT). PBIT of Unitary Cooling Products for comfort and commercial use segment fell 24.83% to Rs 76.47 crore (accounting for 55.08% of total PBIT).
- PBIT margin of Electro - Mechanical Projects and services segment rose from 2.11% to 2.59%. PBIT margin of Engineering Products and services segment rose from 31.27% to 34.96%. PBIT margin of Unitary Cooling Products for comfort and commercial use segment fell from 10.10% to 7.30%. Overall PBIT margin fell from 9.13% to 7.98%.
Half yearly performance Net sales (including other operating income) of Voltas has increased 30.57% to Rs 4536.36 crore. Operating profit margin has declined from 7.62% to 6.12%, leading to 4.88% rise in operating profit to Rs 277.83 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 49.37% to 50.82%. Purchase of finished goods cost rose from 22.89% to 25.46%. Employee cost decreased from 8.84% to 7.72%. Other expenses fell from 11.14% to 9.41%. Other income fell 26.05% to Rs 91.13 crore. PBIDT fell 4.94% to Rs 368.96 crore. Provision for interest rose 10.06% to Rs 10.72 crore. PBDT fell 5.33% to Rs 358.24 crore. Provision for depreciation rose 0.44% to Rs 18.19 crore. Profit before tax down 5.62% to Rs 340.05 crore. Share of profit/loss was 21.03% lower at Rs -59.86 crore. Provision for tax was expense of Rs 70.28 crore, compared to Rs 84.1 crore. Effective tax rate was 40.45% compared to 27.06%. Minority interest increased 52.27% to Rs 2.01 crore. Net profit attributable to owners of the company decreased 54.98% to Rs 101.47 crore. - Sales of Electro - Mechanical Projects and services segment has gone down 17.65% to Rs 1,008.73 crore (accounting for 22.51% of total sales). Sales of Engineering Products and services segment has gone up 8.82% to Rs 261.70 crore (accounting for 5.84% of total sales). Sales of Unitary Cooling Products for comfort and commercial use segment rose 62.95% to Rs 3,209.91 crore (accounting for 71.64% of total sales).
- Profit before interest, tax and other unallocable items (PBIT) has jumped 1.38% to Rs 343.45 crore. PBIT of Electro - Mechanical Projects and services segment fell 95.54% to Rs 1.87 crore (accounting for 0.54% of total PBIT). PBIT of Engineering Products and services segment rose 28.24% to Rs 98.87 crore (accounting for 28.79% of total PBIT). PBIT of Unitary Cooling Products for comfort and commercial use segment rose 10.44% to Rs 242.71 crore (accounting for 70.67% of total PBIT).
- PBIT margin of Electro - Mechanical Projects and services segment fell from 3.42% to 0.19%. PBIT margin of Engineering Products and services segment rose from 32.06% to 37.78%. PBIT margin of Unitary Cooling Products for comfort and commercial use segment fell from 11.16% to 7.56%. Overall PBIT margin fell from 9.86% to 7.67%.
Equity capital stood at Rs 33.08 crore as of 30 September 2022 to Rs 33.08 crore as of 30 September 2021. Per share face Value remained same at Rs 1.00. Promoters’ stake was 30.30% as of 30 September 2022 ,compared to 30.30% as of 30 September 2021 . Loan funds declined from Rs 426.74 crore as of 30 September 2021 to Rs 392.94 crore as of 30 September 2022. Inventories rose to Rs 1,561.04 crore as of 30 September 2022 from Rs 1,214.45 crore as of 30 September 2021. Sundry debtors were higher at Rs 1,799.47 crore as of 30 September 2022 compared to Rs 1,793.00 crore as of 30 September 2021. Cash and bank balance rose to Rs 553.46 crore as of 30 September 2022 from Rs 397.01 crore as of 30 September 2021. Investments rose to Rs 3,089.99 crore as of 30 September 2022 from Rs 3,011.43 crore as of 30 September 2021 . Fixed assets increased to Rs 477.29 crore as of 30 September 2022 from Rs 317.76 crore as of 30 September 2021. Intangible assets declined from Rs 80.35 crore to Rs 72.31 crore. Cash flow from operating activities decreased to negative Rs -340.06 crore for YTD ended September 2022 from negative Rs -241.77 crore for YTD ended September 2021.
| Voltas : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
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| Particulars | 202209 | 202109 | Var.(%) | 202209 | 202109 | Var.(%) | 202203 | 202103 | Var.(%) |
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| Net Sales (including other operating income) | 1,768.36 | 1,689.08 | 4.69 | 4,536.36 | 3,474.28 | 30.57 | 7,934.45 | 7,555.78 | 5.01 | | OPM (%) | 5.70 | 7.64 | -194 bps | 6.12 | 7.62 | -150 bps | 8.59 | 8.49 | 10 bps | | OP | 100.84 | 129.12 | -21.90 | 277.83 | 264.90 | 4.88 | 681.55 | 641.36 | 6.27 | | Other Inc. | 64.38 | 48.27 | 33.37 | 91.13 | 123.24 | -26.05 | 189.19 | 188.86 | 0.17 | | PBIDT | 165.22 | 177.39 | -6.86 | 368.96 | 388.14 | -4.94 | 870.74 | 830.22 | 4.88 | | Interest | 6.74 | 6.24 | 8.01 | 10.72 | 9.74 | 10.06 | 25.87 | 26.15 | -1.07 | | PBDT | 158.48 | 171.15 | -7.40 | 358.24 | 378.40 | -5.33 | 844.87 | 804.07 | 5.07 | | Depreciation | 9.7 | 9.5 | 2.11 | 18.19 | 18.11 | 0.44 | 37.26 | 33.89 | 9.94 | | PBT | 148.78 | 161.65 | -7.96 | 340.05 | 360.29 | -5.62 | 807.61 | 770.18 | 4.86 | | Share of Profit/(Loss) from Associates | -28.91 | -18.89 | -53.04 | -59.86 | -49.46 | -21.03 | -110.31 | -60.97 | -80.93 | | PBT before EO | 119.87 | 142.76 | -16.03 | 280.19 | 310.83 | -9.86 | 697.3 | 709.21 | -1.68 | | EO Income | -106.43 | 0 | - | -106.43 | 0 | - | 0 | 0 | - | | PBT after EO | 13.44 | 142.76 | -90.59 | 173.76 | 310.83 | -44.10 | 697.3 | 709.21 | -1.68 | | Taxation | 19.48 | 38.47 | -49.36 | 70.28 | 84.1 | -16.43 | 191.3 | 180.42 | 6.03 | | PAT | -6.04 | 104.29 | PL | 103.48 | 226.73 | -54.36 | 506 | 528.79 | -4.31 | | Minority Interest (MI) | 1.37 | 0.68 | 101.47 | 2.01 | 1.32 | 52.27 | 1.91 | 3.65 | -47.67 | | Net profit | -7.41 | 103.61 | PL | 101.47 | 225.41 | -54.98 | 504.09 | 525.14 | -4.01 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | -7.41 | 103.61 | PL | 101.47 | 225.41 | -54.98 | 504.09 | 525.14 | -4.01 | | EPS (Rs)* | 1.41 | 3.13 | -55.00 | 5.29 | 6.81 | -22.38 | 15.23 | 15.87 | -4.01 | | | * 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 |
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| Voltas : Consolidated Segment Results | td>-| | Quarter ended | Year to Date | Year ended |
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| % of (Total) | 202209 | 202109 | Var.(%) | % of (Total) | 202209 | 202109 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
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| Sales | | Electro - Mechanical Projects and services | 31.86 | 554.04 | 536.48 | 3.27 | 22.51 | 1,008.73 | 1,224.90 | -17.65 | 31.51 | 2,470.49 | 2,878.60 | -14.18 | | Engineering Products and services | 7.90 | 137.37 | 125.42 | 9.53 | 5.84 | 261.70 | 240.48 | 8.82 | 6.23 | 488.66 | 359.49 | 35.93 | | Unitary Cooling Products for comfort and commercial use | 60.24 | 1,047.71 | 1,006.80 | 4.06 | 71.64 | 3,209.91 | 1,969.91 | 62.95 | 62.26 | 4,881.92 | 4,218.46 | 15.73 | | Total Reported Sales | 100.00 | 1,739.12 | 1,668.70 | 4.22 | 100.00 | 4,480.34 | 3,435.29 | 30.42 | 100.00 | 7,841.07 | 7,456.55 | 5.16 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 1,739.12 | 1,668.70 | 4.22 | 100.00 | 4,480.34 | 3,435.29 | 30.42 | 100.00 | 7,841.07 | 7,456.55 | 5.16 | | PBIT | | Electro - Mechanical Projects and services | 10.33 | 14.34 | 11.33 | 26.57 | 0.54 | 1.87 | 41.91 | -95.54 | 15.78 | 125.77 | 27.01 | 365.64 | | Engineering Products and services | 34.59 | 48.02 | 39.22 | 22.44 | 28.79 | 98.87 | 77.10 | 28.24 | 19.81 | 157.90 | 114.31 | 38.13 | | Unitary Cooling Products for comfort and commercial use | 55.08 | 76.47 | 101.73 | -24.83 | 70.67 | 242.71 | 219.76 | 10.44 | 64.41 | 513.40 | 583.70 | -12.04 | | Total PBIT | 100.00 | 138.83 | 152.28 | -8.83 | 100.00 | 343.45 | 338.77 | 1.38 | 100.00 | 797.07 | 725.02 | 9.94 | | Less : Interest | | 6.74 | 6.24 | 8.01 | | 10.72 | 9.74 | 10.06 | | 25.87 | 26.15 | -1.07 | | Add: Other un-allcoable | | -12.22 | -3.28 | -272.56 | | -52.54 | -18.20 | -188.68 | | -73.90 | 10.34 | PL | | PBIT Margin(%) | | Electro - Mechanical Projects and services | | 2.59 | 2.11 | 47.63 | | 0.19 | 3.42 | -323.61 | | 5.09 | 0.94 | 415.26 | | Engineering Products and services | | 34.96 | 31.27 | 368.58 | | 37.78 | 32.06 | 571.90 | | 32.31 | 31.80 | 51.50 | | Unitary Cooling Products for comfort and commercial use | | 7.30 | 10.10 | -280.55 | | 7.56 | 11.16 | -359.46 | | 10.52 | 13.84 | -332.04 | | PBT | 100.00 | 119.87 | 142.76 | -16.03 | 100.00 | 280.19 | 310.83 | -9.86 | 100.00 | 697.30 | 709.21 | -1.68 |
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