Voltas, part of the TATA group which holds 30.3% stake, is a leading air conditioning and engineering services provider.
Founded in 1954, it offers engineering solutions through three business segments in areas such as heating, ventilation & air conditioning, refrigeration, climate control, electromechanical projects, textile machinery, machine tools, mining & construction, material handling, water management, building management systems, pollution control and chemicals.
Voltas has a higher market share of ~21% in the residential AC market.
The company has one of the highest distribution touch-points (over 15,000) which can compare well with many mid-size local FMCG companies.
Unitary Cooling Product and Engineering & Mechanical Project Segment together contribute ~90% topline of the company, while Unitary Cooling Product contributes more than 60% to the profit of the company.
Voltas reported a 50.83 per cent drop consolidated net profit to Rs 81.77 crore for the first quarter ended June 30, impacted by COVID-19 pandemic. The company had posted consolidated net profit of Rs 166.32 crore in the same quarter last fiscal.
Total income of the company during the quarter under review stood at Rs 1,364.34 crore, down 49.41 per cent from Rs 2,697.27 crore in the year-ago period, Voltas said in a regulatory filing.
"The group's operations and financial results for the quarter ended June 30, 2020, have been impacted due to outbreak of COVID-19 pandemic and consequent lockdown," Voltas said.
Voltas stock price 1 year
(www.nseindia.com)
Voltas stock price 5 years
(www.nseindia.com)
If the govt. decides to impose customs duty on Textile Machinery imports and in general other machinery imports - it just may open up other business opportunities for Voltas.
Way back in the 1960s the power equipment for "Tungabhadra" dam was manufactured by Voltas.
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