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BHEL: Are the negatives fully priced in?

Jul 16, 2013

Equitymaster discusses whether all the negatives are fully priced into the current stock price of BHEL

When companies bite more than they can chew...

Jun 13, 2013

Equitymaster discusses challenges that companies face if they mis-evaluate their growth plans

Voltas vs. Blue Star: The cooler one?

Mar 11, 2011

Equitymaster compares the two air-conditioning and refrigeration companies, Voltas v/s Blue Star

Capital goods and PEG!

Jun 27, 2006

The taste of apprehension in light of the US Federal Reserve's impending meeting on June 29 was experienced yesterday, as Indian equity markets declined by over 3% with stocks from the capital goods sector witnessing significantly sharper declines. Engineering and construction stocks have been rallying, as they were proclaimed to be the darling of the street based on the strong growth story, which was magnified by their burgeoning order books. 'Attractive PEG ratio' was also used as a reasoning

Infrastructure: 'Hard' facts!

Feb 27, 2006

India is on the verge of witnessing a sustained investment phase in infrastructure buildup. With a slew of announcements in the power sector, road, port and airport development and hydrocarbons, we are seemingly on a path of sustained higher economic growth on the back of improvement in infrastructure in the country. The government, in its mid-term appraisal of the tenth five-year plan (2002-07), has revised upwards its infrastructure investment target from Rs 10,890 bn to around 11,100 bn.

Voltas: 'Cool' show

Nov 5, 2004

Diversified Tata group major, Voltas, posted mixed results for the second quarter ended September 2004. While revenue growth was slower at 1.9% as compared to the past, there has been a notable improvement in operating margins during the quarter. However, the company's businesses are seasonal in nature and bulk of the electro-mechanical division's (EMD) turnover is accounted for in the second half of the fiscal.

Carrier: Strained prospects

Dec 21, 2001

There seems to be no respite for the consumer durable companies in the current year. While there has been a rise in CTV and refrigerator demand in the festive season, air conditioner demand has remained lacklustre. This has had a significant impact on profitability of Carrier Aircon, one of the market leaders in the Indian air conditioners segment.

Carrier: Losing sheen

Nov 30, 2001

Carrier Aircon, one of the key players in the Indian air conditioner segment, continues to suffer on account of increasing competitive pressure and sluggish sales. While turnover has declined by 13.7% to Rs 1,824, the company has reported a net loss of Rs 103 m in 1HFY02 as compared with a profit of Rs 114 m over the corresponding period last year.

Carrier: Dismal performance continues

Jun 27, 2001

Carrier Aircon, the air conditioners major, has registered a 21% rise in sales to Rs 3,799 m in FY01. But a closer look reveals that the increase in topline in primarily on account of a lower topline growth in FY00 due to fire in one of its manufacturing units in the first quarter of FY00.

Carrier: Tumbling margins

Jun 21, 2001

Carrier Aircon, the Indian subsidiary of the US air conditioner major, reported a sharp 20.6% growth in sales for the first nine months of FY01. The company is set to announce its full year results early next week. Carrier postponed its full year results from June 8, 2001 due to the recent move by its parent company to acquire a 100% stake in the Indian subsidiary.

Voltas: Divisional blues

Jun 5, 2001

Voltas Limited, a Tata company, has posted a 9% growth in sales for FY01 to Rs 8,537 m. The growth in topline is expected to be on account of higher sales in its air conditioner and the refrigerator divisions thanks to the recent orders from Korean majors like LG Electronics.

Carrier Aircon's net down 41%

Oct 28, 2000

Carrier Aircon has posted a sharp drop in net profit by 41% to Rs 39 m for the second quarter ended 30th September. Operating margins have also dropped by 2% primarily due to 150% and 65% rise in staff cost and sub-contracting charges respectively.

Voltas: Consumer durables hold the key

Sep 8, 2000

Though a Original Equipment Manufacturer (OEM) supplier to companies like Cadbury, HLL, LG, Voltas is increasing its direct presence in the market. It plans to sell refrigerators (‘Voltas’ air conditioners have already hit the market) under its own brand when the agreement with Electrolux ends early next year.

Voltas net vaults 260% backed by healthy order book

Jul 25, 2000

Voltas limited has posted a 260% jump in net profit on a turnover growth of 10% for the first quarter ended FY01. The operating margins were better, up from 3.9% in 1QFY00 to 4.7% in 1QFY01. The reduction in interest cost by 30% has boosted the net profit margin to 2.2% (0.1% in 1QFY01).

Voltas net down by 57%

May 31, 2000

Voltas Limited net profit for the year slumped by 57% due to the decline in sales by 16% from Rs 9,843 m in FY99 to Rs 8,243 m in FY00. The decline in sales is due to the divestment of its chemicals and part of the white goods business. The companies operating margins improved marginally from 2.8% to 3.3%.

Carrier Aircon reports 67% fall in net, hit by competition

Apr 24, 2000

Carrier Aircon's sales fell by 4.7% to Rs 3,853 m in FY2000 from Rs 4,044 m reported in the previous year.

Carrier Aircon loses cool, eyes market share

Feb 18, 2000

Air-conditioner (AC) major, Carrier Aircon has laid out plans to regain some of the market share that it forfeited last year.

Voltas divests 26% in JV to partner Electrolux

Dec 30, 1999

The Swedish white goods major AB Electrolux has finalised a deal with Voltas to take over its 26% stake in their joint venture Electrolux Voltas. The joint venture owns the brand names ‘Voltas’ and ‘Allwyn’ and is into the manufacture of refrigerators (capacity: 0.25 million units per annum) and washing machines (capacity 0.1 m units per annum).

Blue Star net rises 52%

Nov 3, 1999

In 2QFY2000, Blue Star has posted Rs 41 m net profit (up 51.5%). Sales have improved only marginally by 0.4%.

Raymond posts 6% growth in net

Nov 1, 1999

Raymond Limited has posted a net profits of Rs 498 m for the quarter ended 30th September 1999. The company has benefited from the increase in income from other sources and the decline in interest expenditure.


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