For the quarter under review, Voltas reported a 12.52 per cent year-on-year (YoY) increase in its consolidated net profit at Rs 159.50 crore
Today, a total of 31 companies including Voltas, Jubilant Life Sciences, and Metropolis Healthcare, are scheduled to announce their March quarter results
The RSI on Voltas' stock is also on the rise and has signaled a buy
While some importers might have to absorb costs to protect their market share, other indigenous manufacturers should benefit
The company had posted a consolidated net profit of Rs 78.08 crore in the same quarter last fiscal, Voltas said in a regulatory filing
Under the JV, while Beko will bring in its strong research and development as well as global sourcing capabilities, Voltas will contribute in terms of its local branding and distribution strength
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
Competition may also disrupt profitability
Derivative call by Nandish Shah, Technical & Derivative Analyst, HDFC securities.
Trading ideas by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Shares and Stock Brokers
While the company's projects segment is expected to perform better, a strong Q1 and moves to clear inventory are positives for room air-conditioner business
Previously, India made up 80 per cent of Voltas' mining equipment business, while the rest came from Africa; today Mozambique accounts for 70 per cent of its revenues from this segment.
Voltas' total expense was Rs 1,935.09 cr in Jan-Mar 2019, compared with Rs 1,805.63 crore in the year-ago period, up 7.16 per cent
While inventory liquidation is positive, higher volumes and price hikes are imperative for rich stock valuation to sustain
The projects segment is growing owing to efficient execution in both domestic and international markets
The manufacturing facility, spread over 65 acres, will be one of the first cooling appliances units in Andhra Pradesh
Income from operations during the quarter under review stood at Rs 14.15 billion as against Rs 10.32 billion in the year-ago period, up 37 per cent
The Tata Group firm has re-entered the consumer durables market through a 50:50 joint venture with Arcelik
Increasing share of AC market and volume outlook are positive, but profitability pressure remains a worry
Subdued March quarter sales and seasonal impact do not bode well for volume growth for AC makers