Page 4 - Voltas

Blistering summer helps Varun Bev, Havells, Voltas, others improve earnings

Heat waves are accelerating the penetration of many cooling products like air conditioners and refrigerators, an industry expert said

Voltas slips 9% on profit booking after Q4 results disappoints Street

Voltas stock price update: The domestic projects continues to grow its order pad and retain a positive outlook given the increased infrastructure spending in the country, the company said

Dr Reddy's, Pidilite, UB, HZL, Voltas among six stocks to watch today

United Breweries announced a more than five-fold increase in net profit to Rs 80.15 crore for the January-March period of 2023-24 compared to the same period last year

Voltas Q4 results: PAT down 22.5% at Rs 110.64 cr, services biz up 38%

Air conditioning and engineering services provider Voltas Ltd on Tuesday reported a 22.75 per cent decline in consolidated net profit to Rs 110.64 crore in the fourth quarter ended March 31, 2024, impacted by higher expenses. The company had posted a consolidated net profit of Rs 143.23 crore in the same period previous fiscal, Voltas said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 4,202.88 crore as against Rs 2,956.8 crore in the year-ago period, it added. Total expenses in the fourth quarter were higher at Rs 4,044.90 crore compared to Rs 2,761.45 crore in the corresponding period a year ago. In the fourth quarter the unitary cooling products business segment revenue grew by 44 per cent to Rs 2,955 crore as compared to Rs 2,049 crore in the corresponding quarter of the previous year on account of a better product mix enhancement approach, the company said. The engineering products and services division clocked revenue

India may permit Chinese electronic firms to invest on a select basis

The Indian govt might consider permitting certain Chinese investments in India, with each venture evaluated based on its individual merit

Voltas stock price today up 5% on UBS upgrade; Whirlpool on a roll too

Voltas, Whirlpool of India stock price update: Shares of household appliances makers Voltas and Whirlpool surged up to 7 per cent on the BSE in Monday's intra-day trade on improved outlook.

Record volumes, higher market share drive gains for Voltas stock

Voltas became the first Indian company to top the 2 million AC units sales in a financial year. Voltas said the performance was attributed to a consistent demand for cooling products during the year

Prediction of scorching heat creates winners in Indian stock market

Consumption of soda, ice creams and dairy products typically jumps sharply during the summer

Voltas AC records 35% sales growth, crosses 2 million unit mark in FY24

Leading residential air conditioner maker Voltas on Sunday said it has recorded a 35 per cent sales growth to over two million units in FY24, becoming the first company in the domestic market to cross this mark. The performance was attributed to a consistent demand for cooling products during the year, coupled with a strong offline and online distribution network, and new innovative launches, the Tata Group firm said in a statement. "The company achieved over 2 million AC units during this fiscal 2023-24, the highest ever sale of ACs by any brand in a financial year in India, with a volume growth of 35 per cent," it added. With these landmark sales, Voltas is "the first ever brand to achieve this extraordinary milestone in the Air Conditioning industry in India", it said. The Indian residential AC market is estimated to be around 10 million units in FY24 and is expected to grow to 11.5 million units this year. Even during the March quarter, when sales of compressor-based cooling .

With mercury rising, analysts foresee summer surge for consumer durables

IMD forecasts that most parts of the country will experience hotter-than-average temperatures from March through May, leading to an uptick in the frequency of heatwave days

Havells, V-Guard, Voltas rally up to 5% on healthy outlook

Shares of Havells India hit a new high of Rs 1,590.90, surging 5 per cent on the BSE. A sharp run-up in the stock price has seen the m-cap of Havells India inch towards Rs 1 trillion

Rs 750 cr stuck in Qatar projects due to delays in payments: Voltas CEO

Tata Group firm Voltas is facing a major headwind in Qatar as around Rs 750 crore has been stuck due to delays in the realisation of overdue receivables and execution timelines, said its MD and CEO Pradeep Bakshi. In some projects, bank guarantees were "unethically" encashed by some contractors, which was an "uncalled" action to make quick money, derailing the international project business of Tata Group firm in the December quarter, he added. "Unprecedented things are happening in that area, especially in Qatar, wherein, unfortunately, our dues are not being paid to us timely, and inordinate delays are happening. We have completed the project and handed it over, and despite that, payments are not made," Bakshi told PTI. Voltas has already approached the Indian government for help on the issue and also approached the Embassy in Qatar. MEP (mechanical, electrical, and plumbing) contractor Voltas has completed the projects in Qatar and handed them over as per the contract. However, i

Voltas Q3 results: Profit falls 58% to Rs 23.85 crore as expenses rise

The Tata Group-owned company's consolidated profit before exceptional items and tax fell 58% from last year to Rs 23.85 crore ($2.87 million) in the three months to Dec 31

AC manufacturer Voltas stock hots up on hopes of a cooler outlook

Manufacturers have also started to stock channels in anticipation of summer demand which may kick in from Q4FY24

Voltas sees long build up: Here's a Bull Spread Strategy for the stock

Long build up is seen in the VOLTAS Futures on Thursday where Open Interest rose by 7% (Prov)

Tata considering sale of Voltas home appliance business, say reports

Considerations are at an early stage and Tata Group may decide to keep the asset for longer, the people said. A representative for Tata Group declined to comment

Downgrades may pressure Voltas stock, QCO norms could impact sales

While most analysts have made EPS estimate downgrades for FY24, quite a few continue to recommend "Buy/ Accumulate" in expectations of strong overall growth through FY26

Voltas working to transform into a full-fledged home appliance maker

Voltas is also reviving its plan to make AC compressors locally in partnership with a South Korean or Japanese firm

Voltas Q2 results: Net profit at Rs 36 cr, income increases to Rs 2,364 cr

Air conditioner maker Voltas on Thursday reported a consolidated net profit of Rs 36 crore for the second quarter ended September 30. The company had reported a net loss of Rs 6 crore in the July-September period of the last fiscal. Its total income increased to Rs 2,364 crore for the second quarter against Rs 1,833 crore in the year-ago period, Voltas Ltd said in a regulatory filing. The company said its board has approved a proposal to raise up to Rs 500 crore through the issuance of rated, listed, unsecured, redeemable non-convertible debentures (NCDs) on a private placement basis. The funds would be utilised for the capital expenditure for its new manufacturing plants at Chennai and Waghodia in Gujarat, it added. Shares of the company on Thursday ended 0.68 per cent up at Rs 839.30 apiece on the BSE.

Voltas reports 19% increase in profit on surge in AC sales in June quarter

Voltas shares closed down 0.98% at 828.55 rupees ahead of the results