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Ideas for Profit | Voltas Q2: Cooling product helps, stock valuation caps upside

January 03, 2020 / 08:24 PM IST
Ideas for Profit | Voltas Q2: Cooling product helps, stock valuation caps upside

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Voltas reported a lacklustre performance in Q2. Despite a convincing set of investment moats, a sharp rally in the stock's price in recent times restricts upside. (image) Q2 FY20 review Positives - Healthy revenue accretion in Unitary Cooling Products and Engineering Products segments - Consolidated employee costs, as percentage of sales, were lower - Unitary cooling product segment’s margin has improved - Consolidated interest cost saw a reduction - Consolidated other income was higher Negatives - Consolidated top line was flat - Electromechanical Project’s revenue de-grew - No major expansion in gross...

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