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Voltas: Research meeting extracts - Views on News from Equitymaster
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Voltas: Research meeting extracts
Dec 29, 2005

We recently met up with the management of Voltas, the electromechanical and air-conditioning major to gain a first hand understanding of the company’s long-term growth strategy and the outlook on infrastructure development. Here are key extracts of the meeting, divided as per the company’s business segments.

Electromechanical Projects & Services (EMPS)
Voltas’ outstanding order book for the EMPS division is of the size of Rs 16.5 bn, including Rs 12 bn for international orders (execution period of 3 years) and the remaining Rs 4.5 bn for domestic projects (execution period of 9-12 months). The company’s international operations are spread across the Middle East region, including countries like Dubai and Macau. Voltas had recently won two major contracts in the international electromechanical business segment. These were:
  1. In joint venture with Emirates Trading Company (Dubai) and Hitachi (Singapore), the company was awarded a sub-contract for mechanical, electrical and plumbing works for the world’s tallest building, Burj Tower in Dubai. The overall sub-contract value is Rs 9.7 bn, including Voltas’ share of Rs 3.7 bn. The work is likely to be completed by the third quarter of FY09 (December 2008).

  2. Sub-contract for mechanical and electrical works of the Hyderabad International Airport. Voltas’ sub-contracting revenues will be around Rs 1.3 bn, to be derived in the next three years. The contract is part of Voltas’ International Operations Business Group (IOBG) and forms part of the international order book.

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