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Johnson Controls -Hitachi Air Conditioning India Ltd.

BSE: 523398 | NSE: JCHAC | Series: NA | ISIN: INE782A01015 | SECTOR: Consumer Goods - White Goods

BSE Live

Jul 02, 15:40
2231.80 -12.30 (-0.55%)
Volume
AVERAGE VOLUME
5-Day
899
10-Day
1,279
30-Day
1,100
773
  • Prev. Close

    2244.10

  • Open Price

    2251.85

  • Bid Price (Qty.)

    2222.00 (2)

  • Offer Price (Qty.)

    2250.00 (20)

NSE Live

Jul 02, 15:54
2230.10 -13.90 (-0.62%)
Volume
AVERAGE VOLUME
5-Day
8,812
10-Day
12,964
30-Day
14,082
7,275
  • Prev. Close

    2244.00

  • Open Price

    2272.80

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
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Chairman's Speech

My warm greetings to all the shareholders of Hitachi Home & Lite Solutions (India) Ltd. (HHLI). As of now me economy continues to ba In a state of slumber. With an annual growth of 4.9% in 2013-14, India has now recorded two consecutive years of less than 5% annuaJ growth. Sadly, for the first the in the last ten years, private consumption growth has been below 5% at 4.1 % for 2013-14. The slowduwn in economic growth was coupled with fairly high levels of domestic inflation, In addition, with adverse movements in current account deficit and some degree of capital flight, there was significant depreciation of the rupee when compared to the US dollar. This negatively affected me consumer durables industry, where Company operates, from Iwp angles. For one, it made tully mported goods even more expensive for the average Indian consumer. For another, it increased costs of imported intermedianes, which accouni for a large proportion of value of durable goods produced in India exerting cost pressures, on manufacturers. In this difficult business environment, it gives me pleasure to share with you the highlights of the financial performance for 2013-14. which are largely in line with our goals of long term sustainable growth. Net revenues from operations increased by 18-3% to 1 ,099.7 crore. In fact, with this levels of sales we are now a 1,000 crore plus turnover entity in India. Even though prices and costs wore undar pressure, operating profit or profit before depreciation. Interest end tax increased by 11 % to Rs.53.3 croore in 2013-14. Our strong belief is that Society changes. Hitachi transforms it. Economic cycles are transient. What is Important is to appreciate and understand the rapid transformation that is happening in the Indian consumer appliances market. Once perceived as luxury items, consumer durables have today become an indispensable tool of everyday use for the Indian middle class. The demand for consumer durables in India is expected to reach Rs.52,000 crore (US $ 8.4 billion) by 2015 , according to ASSOCHAM; tha largest contributing sector among durables is white goods, also Known as consumer appliances, like Air conditioners, refrigerators and washing machines. Hitachi is playing its role as a catalyst for change by continuously Investing in developing new and innovative products that stand out in tha market. Tha diverse and rich product mix is supported by an ever expanding sales network that aims to reach out to maximum customers. This was evident during 2013-14 in our two product segments -Air conditioners and refrigerators. Company successfully introduced ihe Tropical Inverter Technology in the room Air conditioner segment. This technology is custom made for tropical weather conditions like the one that exists in India. Basically, with this technology, Hitachi inverter ACs can perform consistently and efficiency in extreme Indian weathar conditions while optimally using energy, The Tropical Inverter Technology ensures less de-rating at high ambient temperatures to give consistent cooling comfort. The ''i-Ciean Inverter'', ''ACE Inverter'' end ''Kampa Inverter'' models are powered with this technology. It gives me a great sense of pride to announce that Company has been honored wifr Certificate of Merit at the National Energy Conservation Awards (NECA)-2013 by Bureau of Energy Efficiency [BEE], Ministry of Power for producing its range of energy efficient Air conditioners. A significant proportion of room Air conditioners is actually sold institutionally or on a Buainess-to-Business