Voltas share price rose 9 percent in early trade on June 1 after the company reported its Q4 numbers.
The company has posted a 12.5 percent jump in its consolidated Q4 FY20 net profit at Rs 159.5 crore against Rs 141.74 crore in the year-ago period.
The total income for the quarter was up at Rs 2,150.09 crore as compared to Rs 2,120.02 crore in the corresponding quarter of the previous fiscal.
The company board recommended a dividend of Rs 4 per share (400 percent) for the year 2019-20 which shall be subject to approval of shareholders at the annual general meeting of the company.
Credit Suisse | Rating: Outperform | Target: Cut to Rs 650 from Rs 725
The company reported strong results on better-than-expected revenue and margin in the consolidated AC segment.
Credit Suisse revised earnings for FY21/FY22 by 9%/7% to account for the impact of longer lockdown, while retained outperform rating on strong franchise in a large long-term opportunity.
The key risks are related to weather dependency in ACs and strong competition.
Morgan Stanley | Rating: Equal-weight | Target: Rs 519 per share
The company's revenue, EBITDA and adjusted PAT 5%/21%/33% above the consensus. Its AC market share YTD improved to 24.2 percent from 23.9 percent in Q4 F19.
Jefferies | Rating: Buy | Target: Rs 615 per share
The results will be viewed favourably by investors in the context of COVID-19 impact. The engineering business revenue was down 18 percent YoY and led to the 10 percent profit miss.
The company's unitary cooling segment revenue was up 20% YoY and margin improved 420 bps YoY.
At 09:20 hrs, Voltas was quoting at Rs 523.15, up Rs 43.15, or 8.99 percent on the BSE.
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