VOLTAS CATCHES MARKET ATTENTION

Article Abstract:

The scrip of Voltas Ltd, manufacturer of air-conditioners and other products, has soared by 550 percent in the past 11 months due to an increase in its market capitalisation, the restructuring plans and the performance. The air-conditioning division recorded a sales growth of 30 percent - more than the industry average in the room air-conditioners market. Voltas Ltd holds 25 percent share in this market. It has also performed well in the industrial segment by securing the single largest air-conditioning order in a different product category. Reliance Industries Ltd has awarded a 1,350 tonnes package unit order to Voltas Ltd. While IPCL has placed an order for 8,000 tonnes capacity vapour absorption machines with Voltas Ltd, the Information Technology Park of Bangalore has placed an order for screw chillers of 4,500 tonnes capacity. Voltas Ltd will also be supplying a centrifugal chiller of 4,000 tonnes capacity to the Parliament library. The profitability of Voltas Ltd is likely to increase after its restructuring programme as it will net funds through the sale of the white goods division to Electrolux. (ag/kvr)

Comment:

The scrip of Voltas Ltd, manufacturer of air-conditioners and other products, has soared by 550 percent in the past 11 months due to an increase in its market capitalisation, the restructuring plans and the performance.

Sales & consumption, Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing, Air Conditioners NEC, Air conditioning equipment

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VOLTAS TURNS AROUND WITH Rs1.8 CR NET

Article Abstract:

Voltas Ltd posted a net profit of Rs1.8 crore during April- September 1998 (Rs7 crore net loss during April-September 1997). During the period, it also posted a sales and other income of Rs687.9 crore (Rs679.1 crore), this included Rs10.6 crore got from the sale of the chemical plant undertakings and investments. Voltas also posted a gross profit of Rs34.9 crore (Rs30.7 crore). (ag)

Sales, profits & dividends

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