Voltas Ltd., incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 33066.97 Crore) operating in Consumer Durables sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 2683.24 Crore, up 31.13 % from last quarter Total Income of Rs 2046.26 Crore and up 24.80 % from last year same quarter Total Income of Rs 2150.09 Crore. Company reported net profit after tax of Rs 260.89 Crore in latest quarter.
Investment Rationale
The brokerage marginally lowers FY22E/FY23E EPS estimate by 5%/4% on account of lower order book in the EMPS segment and maintain Neutral rating with a TP of INR1,060/share. At the CMP, the UCP business is trading at a FY22E/FY23E P/E of 57x/47x. Current valuations adequately factors in franchise strength of the UCP business
Promoter/FII Holdings
Promoters held 30.3 per cent stake in the company as of March 31, 2021, while FIIs held 14.4 per cent, DIIs 37.5 per cent and public and other 17.9 per cent.
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Voltas share price: Neutral on Voltas, target price Rs 1060: Motilal Oswal
Motilal Oswal has neutral call on with a target price of Rs 1060. The current market price of Voltas Ltd. is Rs 967.2.
