8 May 2024
4 mins read
Voltas reports a staggering 42% increase in Consolidated Total Income, reaching ₹4,257 Cr in Q4 FY24. Despite a slight dip in Profit Before Tax (PBT) to ₹174 Cr, the Unitary Cooling Products segment shines with a 35% YoY growth in AC volumes. Domestic Projects surge by 38%, offsetting challenges in International Projects. With a record 2 million AC unit sales in FY24 and plans to manufacture AC compressors domestically, Voltas solidifies its position in India's cooling market.
In its fourth quarter and FY24 result report, one of India’s top contenders in the cooling appliance products sector, Voltas, has attributed its Total Income growth to a boost in its product mix in the year. On the back of sustained operational efficiency and a keen eye on high-quality product manufacturing, India’s premier AC maker has these 5 key financial results to share for Q4:
Explore: Voltas Share Price
Voltas couldn’t have picked a better time to come out with its annual and Q4 FY24 results - the summer when everyone needs a superior AC! Although the Company now manufactures premium appliances like refrigerators, washing machines, dishwashers, and other cooling products besides ACs, the Q4 results show positive growth in business segments, resulting in an overall quarterly show of strength. Here are some insights:
Additional Read: Quarterly Results
Metrics | Q4 FY24 | Q4 FY23 |
Total Income | 4,257 | 3,003 |
Total Expenses | 4,044 | 2,761 |
Profit Before Tax | 174 | 213 |
Profit After Tax/Net Profit | 110 | 143 |
Basic and Diluted EPS ₹ | 3.52 | 4.35 |
Riding high with Q4 FY24 results in profitable ranges, Voltas has always delivered on its promises of customer care and high-quality standards. With a reliable reputation for the manufacture of superior and durable home appliances, the Company has seen a fruitful fourth quarter for FY24 and an even better fiscal year with a record volume of sales in ACs hitting milestones never reached before in the Company’s history. Despite International Projects facing lows due to system delays, the domestic business shows an uptick for the Company in the prospective months to come.
Additional Read: Dr. Reddy’s Laboratories Q4 Results
Voltas’ quarterly results are anything but muted for a Company that may have witnessed some rough patches given the competition in the AC and cooling products market in India. With new Chinese products entering all the segments of appliances, Voltas finds itself with a place in the sun as it has pegged a record 2 million AC unit sales in FY2023-24. This is a record-breaking sales figure for a relatively humble AC brand in India. As the Company has expanded and ventured into refrigerators and washing machines in its premium offerings, it is taking operational efficiency very seriously and has ventured into manufacturing dishwashers as well. At the operating level, although the Q4 EBITDA has fallen, segmental businesses like the unitary cooling segment revenue has increased.
Additional Read: United Breweries Q4 Results
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As Voltas’ Q4 results portray, it is a market leader in split and window ACs in India.
With views to expand its operations, it has an optimistic future in the Indian AC market.
Some of the key financial indicators in Voltas’ Q4 results were the rise in Total Income in Q4 (compared to the same quarter of the last fiscal year) and the increase in sales volumes for unitary cooling products.
By and large, the Q4 results of Voltas were quite satisfactory as the unitary cooling business segment revenue rose and has maintained Voltas’ position as a market leader in the AC segment.
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