Q4 2024 Voltas Ltd Earnings Call Transcript
Key Points
- Voltas Ltd (BOM:500575) achieved record-breaking top line growth with the sale of over 2 million ACs in FY24, indicating strong market demand.
- The company reported a consolidated total income for the year ended March 31, 2024, which was higher by 32% at INR12,725 crores compared to INR9,667 crores last year.
- Profit before tax increased by 58% to INR486 crores, and net profit after tax rose to INR248 crores from INR136 crores last year.
- The company maintained its leadership position in the air conditioner category with a YTD March market share of 18.7%.
- Voltas Ltd (BOM:500575) has expanded its product portfolio and distribution network, including exclusive brand outlets and experience zones, to strengthen market share.
- Despite strong revenue growth, the profit before tax for the quarter ended March 2024 decreased to INR174 crores from INR214 crores in the corresponding quarter last year.
- The segment results for the electromechanical projects and services reported a loss of INR108 crores due to delayed collection in certain overseas projects.
- Input price escalations and inability to pass on the same to customers have impacted the margins for the commercial air conditioning business.
- Commodity prices have started to accelerate upwards, and the USD-INR depreciation has been detrimental to the profitability of the business.
- The commercial refrigeration industry witnessed low traction throughout the year, leading to tepid growth in this category.
Ladies and gentlemen, good day and welcome to Voltas quarter four and financial year ending March 31, 2024, earnings call, hosted by DAM Capital Advisors Limited. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Ms. Bhoomika Nair from DAM Capital. Thank you and over to you ma'am.
Thanks, Sagar. Good afternoon, everyone, and a warm welcome to the Q4 FY24 earnings call of Voltas Limited.
We have the management today being represented by Mr. Pradeep Bakshi, Managing Director and CEO; Mr. Jitender Verma, CFO; Mr. Nikhil R. Chandarana, Head Corporate Finance; and Mr. Vaibhav Vora, Manager Corporate Finance.
Without any further delay, I'll hand over the call to Mr. Pradeep Bakshi for his opening remarks. Post which will open up the floor for Q&A. Over to you, sir.
Hi. This is Jitender
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