Voltas Ltd., incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 35007.61 Crore) operating in Consumer Durables sector.
Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 2046.26 Crore, up 23.96 % from last quarter Total Income of Rs 1650.80 Crore and up 32.29 % from last year same quarter Total Income of Rs 1546.76 Crore. Company reported net profit after tax of Rs 148.70 Crore in latest quarter.
Investment Rationale
Valuations are expected to remain elevated going into the summer season, with high expectations as well as likely announcement of a detailed PLI scheme for the AC industry. The brokerage increases FY21E/FY22E/FY23E EPS estimate by 5%/11%/15% owing to the strong performance in 3QFY21 and maintains Neutral rating with a TP of INR1,125/share
Promoter/FII Holdings
Promoters held 30.3 per cent stake in the company as of Dec 30, 2020, while FIIs held 14.6 per cent, DIIs 1.4 per cent and public and others 17.5 per cent.
