Consumer Durables News

Voltas stocks: Hold Voltas, target price Rs 1030: Prabhudas Lilladher


Prabhudas Lilladher has hold call on Voltas with a target price of Rs 1030. The current market price of . is Rs 977.75. Time period given by analyst is one year when Ltd. price can reach defined target.

Voltas Ltd., incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 32431.67 Crore) operating in Consumer Durables sector.

Voltas Ltd. key Products/Revenue Segments include Electrical Goods, Contract Revenue, Sale of services, Other Operating Revenue and Scrap for the year ending 31-Mar-2022.

Financials

For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 2794.75 Crore, up 3.36 % from last quarter Total Income of Rs 2703.78 Crore and up 50.24 % from last year same quarter Total Income of Rs 1860.17 Crore. Company reported net profit after tax of Rs 140.47 Crore in latest quarter.

Investment Rationale
The brokerage continues to like VOLT for longer term given 1) leadership position in high potential RAC segment 2) balance sheet comfort (Rs6.45bn net cash) and 3) restructuring in B2B business to focus on B2C. It estimates 35% EPS CAGR over FY22-24 and maintain ‘Hold’ rating with SOTP based TP of Rs1,030 (valuing UCP business at 46x FY24EPS).


Promoter/FII Holdings
Promoters held 30.3 per cent stake in the company as of 31-Mar-2022, while FIIs owned 26.19 per cent, DIIs 27.84 per cent.

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