Here's why this smallcap AC stock hit 20% upper circuit

So far this year, shares of Johnson Controls soared over 33 percent, outperforming 5 percent rise in the benchmark Nifty 50 index

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26 Aug, 2025 12:21

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Shares of Johnson Controls - Hitachi Air Conditioning India were locked in 20 percent upper circuit to hit fresh 52-week high of Rs 1,486 per share on May 24 after it exhibited strong January-March quarter (Q4FY24) performance.

So far this year, shares of Johnson Controls soared over 33 percent, outperforming 5 percent rise in the benchmark Nifty 50 index.

Currently, shares of Johnson Controls trade at lowest price-to-book (PB) ratio of 5.11x as against peers Voltas at 7.33x PB ratio, Bluestar at 12x PB ratio, and Amber Enterprises 6x PB ratio, showed data.

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Johnson Controls revenue from operations surged 50 percent year-on-year (YoY) to Rs 771 crore in Q4FY24 from Rs 547 crore a year ago. The company posted profit of Rs 48 crore in Q4FY24 as against a loss of Rs 1 crore in Q4FY23.

Segment-wise, revenue from cooling products for comfort and commercial use climbed by 41 percent YoY to Rs 760 crore in the March-ended quarter but revenue from design and development services declined marginally by a percent to Rs 178 crore during the quarter under review.

Meanwhile, Johnson Controls total expenses grew by 30 percent on-year to Rs 707 crore in Q4FY24 from Rs 545 crore in the year-ago period.

Johnson Controls, popularly known as Hitachi is engaged in manufacturing a range of electronic home solutions. The product range of the company includes window ACs, split AC, tower and packaged air conditioners, 2- and 3-door refrigerators as well as fully automatic machines.

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In the January-March period, foreign institutional investors have increased their stake to 0.5 percent from 0.4 percent in the quarter ago period.

However, mutual funds have trimmed their stake to 8.1 percent in the March quarter from 8.5 percent in December-ended quarter. Institutional investors, too, have decreased their stake in Johnson Controls to 8.9 percent in March quarter from 9.3 percent.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.