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JOHNSON CONTROLS - HITACHI AC INDIA Announces Quarterly Results (4QFY18); Net Profit Up 59.7%

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JOHNSON CONTROLS - HITACHI AC INDIA Announces Quarterly Results (4QFY18); Net Profit Up 59.7%
Fri, 20 Jul

JOHNSON CONTROLS - HITACHI AC INDIA has announced its results for the quarter ended March 2018. Here is a detailed performance review of the same:

JOHNSON CONTROLS - HITACHI AC INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-17*
3
Dec-17*
3
Mar-18*
QoQ ChangeYoY Change
Net SalesRs m5,7803,7746,27766.3%8.6%
Other incomeRs m4159-44.6%124.3%
TurnoverRs m5,7843,7896,28665.9%8.7%
ExpensesRs m5,2733,6795,53850.5%5.0%
Gross profitRs m50795740675.3%45.8%
DepreciationRs m134133131-1.5%-2.1%
InterestRs m1336115.5%-51.1%
Profit before taxRs m364-2561167.7%
TaxRs m111-820686.2%
Profit after taxRs m254-1840559.7%
Gross profit margin%8.82.511.8
Effective tax rate%30.430.133.7
Net profit margin%4.4-0.56.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 8.6% on a year-on-year (YoY) basis. The expenses were up by 5.0% YoY during the same period.
  • The company's operating profit increased by 45.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.8% in 4QFY18 as against 8.8% in 4QFY17.
  • Depreciation charges and finance costs declined by 2.1% YoY and 51.1% YoY, respectively.
  • Other income increased by 124.3% YoY during the quarter.
  • Net profit for the quarter increased by 59.7% YoY. Net profit margins during the quarter increased from 4.4% in 4QFY17 to 6.4% in 4QFY18.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 66.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 50.5% QoQ during the same period.
  • The company's operating profit increased by 675.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.8% in 4QFY18 as against 2.5% in 3QFY17.
  • Net profit for the quarter declined by 2381.8% QoQ, while net profit margins increased from -0.5% in 3QFY17 to 6.4% in 4QFY18.

To see how JOHNSON CONTROLS - HITACHI AC INDIA has performed over the last eight quarters, please visit here.

JOHNSON CONTROLS - HITACHI AC INDIA Share Price Performance

Over the last one year, JOHNSON CONTROLS - HITACHI AC INDIA share price has moved up from Rs 2,015.0 to Rs 1,979.0, registering a Loss of Rs 36.0 or around 1.8%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 19,964.1 (up 0.6%). Over the last one year it has moved up from 15,908.4 to 19,964.1, a gain of 4,055.7 points (up 25%).

Overall, the S&P BSE SENSEX is up 0.4% over the year.

Current Valuations

At the current price of Rs 1,979.0, the price to earnings (P/E) ratio of JOHNSON CONTROLS - HITACHI AC INDIA stands at 53.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 12.3 times.

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