Page 6 - Voltas

Sporadic rains hurt sales of summer products, firms counting on June

The untimely episodes of rainfall have prevented the rise in temperatures in north India which usually experiences hot weather during the months of April and May

Voltas to build new air conditioner manufacturing unit in Tamil Nadu

Cooling products maker Voltas on Friday said it has performed the groundbreaking ceremony for the construction of its new air conditioner making unit at Tamil Nadu's Tiruvallur district. This was part of Voltas' efforts to strengthen its "Make in India" commitment to the country and it would be investing Rs 500 crore in the TN plant, a company release on Friday said. The Tata Group company has manufacturing facilities in Pantnagar (Uttarakhand) and Waghodia and Sanand in Gujarat. The Bhoomi Pujan for the Madharapakkam unit was performed by the leadership team of the company on May 24. Chairman of Voltas Limited, Noel Tata and Managing Director & CEO of Voltas, Pradeep Bakshi, along with others were present. "The construction of the new manufacturing facility is spread over 150 acres. The company has planned to invest over Rs 500 crore in this factory, for RAC manufacturing, over the next couple of years. This facility will ensure that all the products manufactured in this ...

Voltas Tamil Nadu facility plan on track, to invest Rs 500 cr for room ACs

The construction of the new manufacturing facility is spread over 150 acres

As the mercury soars, hiring of temp workers for cooling products rises too

This is despite the relatively late onset of summers thanks to the unexpected rains in March and April in North India

Unlikely weather in the north hits AC, ice cream, soft drink business

Manufacturers are worried as they have large stocks in place and due to lower demand the inventory of dealers is also rising

Voltas shares decline nearly 3% after March quarter earnings announcement

Shares of Voltas Ltd fell by nearly 3 per cent on Thursday morning trade after the air conditioning maker reported a decline of 21.6 per cent in its consolidated net profit in the March 2023 quarter. The stock fell by 2.85 per cent to Rs 830.60 on the BSE. At the NSE, it declined 2.82 per cent to Rs 830.50. Voltas Ltd on Wednesday reported a decline of 21.6 per cent in its consolidated net profit at Rs 143.23 crore in the March 2023 quarter, due to provisions made on delayed collection in the international project business. The Tata group firm had posted a consolidated net profit of Rs 182.71 crore in the year-ago period, the company said in a regulatory filing. Revenue from operations of Voltas was up 11.5 per cent to Rs 2,936.76 crore during the period under review, as against Rs 2,633.72 crore a year ago. "Profit before and after taxes were impacted during the current quarter due to provisions made on delayed collection in the international project business," Voltas said in it

Voltas Q4 profit slumps 21% on provisions over contract terminations

Voltas, which competes with Blue Star, made provisions of 2.44 billion rupees during the quarter due to the termination of some contracts in Dubai and Qatar last year

Analysts see more upside in consumer appliance stocks as temperatures soar

White goods stocks: With the mercury currently on the boil, analysts remain bullish on the sector as they see more upside over the near-term and advise investors to pick stocks selectively

Ahead of searing summer, analysts bet on consumer appliance stocks

Analysts expect a rise in demand for air conditioners, coolers, fans and refrigerators to help related companies clock firm sales following the post-Diwali slump due to inflationary pressures

Shares of air-conditioner makers rally up to 7% amid heat wave alert

Analyst at Jefferies believes FY24E should see both Air-Conditioner (AC) and Engineering segments of Voltas being in a sweet spot.

With peak summer season ahead, Voltas may see volumes and margin gains

Q3 was disappointing on account of one-offs, margins pressures

Retail electronics firms scale up inventory, anticipating demand surge soon

This buildup is owing to the fact that demand peaked before Diwali and then drastically declined afterwards due to high inflation and thus retailers cut down inventory levels

Customs duty cut, I-T slab rejig to boost consumer durable stocks: Analysts

With revised customs duty across consumer electronics' manufacturers, analysts believe this measure would reduce costs for manufacturing mobile phones, TV panels, and kitchen chimneys

Stocks to Watch: LIC, Zomato, Adani group, Varun Beverages, Voltas, M&M

Stocks to Watch: As per reports, MSCI on Thursday evening said it had cut its determined free float for four companies in the Adani Group: Adani Enterprises, Adani Total Gas, Adani Transmission & ACC

Voltas posts net loss of Rs 110.49 cr in Q3 on overseas provisions

Air conditioning and engineering services provider Voltas Ltd on Thursday reported a consolidated net loss of Rs 110.49 crore for the third quarter ended December 2022 on account of provisioning made on overseas projects. The Tata group firm had posted a consolidated net profit of Rs 96.56 crore in the October-December quarter last fiscal, Voltas said in a regulatory filing. Its revenue from operations was up 11.82 per cent to Rs 2,005.61 crore during the quarter under review as against Rs 1,793.59 crore in the year-ago period. Voltas had a profit before exceptional items and tax of Rs 56.93 crore in the third quarter of FY23. Its expenses on exceptional items were at Rs 137.39 crore. "The profit was impacted due to provision of Rs 137 crore (exceptional item) made on overseas projects," Voltas said in its earning statement. Its total expenses stood at Rs 1,946.72 crore, up 17.89 per cent from Rs 1,651.27 crore a year ago. Voltas' revenue from "unitary cooling products for comfor

From SBI to IHCL: 23 stocks brokerages are betting for 2023

So far in calendar year (CY22), frontline indices Nifty50 and the S&P BSE Sensex have climbed around 4 per cent each, as against 10-20 per cent fall in most of the global indices

Mehul Kothari recommends to buy Astral, Voltas

The technical analyst from Anand Rathi recommends to keep a stop on Astral at Rs 1,860 and Voltas at Rs 815.

Is the capital goods sector on the recovery path as inflation eases?

Revenue growth estimates have moderated post Q2 but the bottom may be close

RIL, Tata firms top LIC's equity portfolio as insurer's valuation rises

The value of investments in Adani firms more than double in the past year

In season of pollution, here is what your air purifier needs to do

The device must clean up particulate matter, allergens and ultra-fine dust particles