Exide Industries Ltd and Voltas Ltd Share Q2 Result

Exide Industries Ltd and Voltas Ltd Share Q2 Result

Indian Market
by 5paisa Research Team Last Updated: 2022-08-08T18:55:00+05:30

Exide Industries Ltd - Q2 Results

Exide Industries Ltd has posted a healthy 18.62% growth in total revenues for the Sep-21 second quarter of the fiscal at Rs.4,758 crore. Even if you look at revenues on a sequential basis, the revenues were higher by 33.68% on a quarter on quarter basis. Here is a gist of the financials of Exide Industries.

 

Rs in Crore

Sep-21

Sep-20

YOY

Jun-21

QOQ

Total Income (Rs cr)

₹ 4,758

₹ 4,011

18.62%

₹ 3,559

33.68%

Net Profit (Rs cr)

₹ 196

₹ 257

-23.62%

₹ 33

497.60%

Diluted EPS (Rs)

₹ 2.31

₹ 3.03

 

₹ 0.39

 

Net Margins

4.13%

6.41%

 

0.92%

 

 

In terms of verticals of the company, revenues from storage batteries and allied product grew sharply by 19% at Rs.3,384 crore. The other insurance business, which has now been sold to HDFC Life, also saw its revenues surge by 17% at Rs.1,369 crore. The top line revenue growth in the quarter was led by both the verticals amidst favourable market conditions.

Net profits of Exide Industries for the Sep-21 quarter actually fell by -23.62% at Rs.196 crore although it would have jumped by nearly 500% compared to the profits in the sequential quarter of June 2021. In terms of yoy growth, the EBIT of the storage batteries vertical grew by 6% at Rs.317 crore which was lower than expected. 

The battery segment EBIT could have been much better had it not been for the 40% spike in input and raw material related costs. The insurance business actually made an EBIT loss due to a surge in COVID related claims and provisions. Net margins at 4.13% was lower than 6.41% in Sep-20 quarter but much better than a measly 0.92% in Jun-21 quarter.

Voltas Ltd - Q2 Results

Voltas, one of the oldest surviving cooling brands in India, reported a very tepid 4.75% growth in total revenues on a yoy basis at Rs.1,689 crore in the Sep-21 quarter. The revenues were, however lower by -5.38% quarter on quarter basis due to supply chain constraints hitting the auto sector this quarter, including the shortage of microchips.

In terms of top line growth of verticals, it was the unitary cooling products vertical that witnessed 33% growth at Rs.1,006 crore while electro mechanical projects saw revenues fall sharply by about 28% at Rs.536 crore. Here is a gist of the financial numbers of Voltas Ltd for the current and comparable quarters.

Rs in Crore

Sep-21

Sep-20

YOY

Jun-21

QOQ

Total Income (Rs cr)

₹ 1,689.08

₹ 1,612.54

4.75%

₹ 1,785.20

-5.38%

Net Profit (Rs cr)

₹ 103.61

₹ 78.35

32.24%

₹ 121.80

-14.93%

Diluted EPS (Rs)

₹ 3.13

₹ 2.37

 

₹ 3.68

 

Net Margins

6.13%

4.86%

 

6.82%

 

 

Net profits of Voltas for the Sep-21 quarter was up 32.24% at Rs.104 crore. The big boost to the EBIT came from unitary cooling products which saw EBIT increase meaningfully from Rs.86 crore to Rs.102 crore. Actually, the company managed its inventories and its raw material costs quite effectively.

The verticals of electro mechanical projects and engineering products showed EBIT growth of much smaller scale. Net margins at 6.13% was surely a head over the 4.86% on a yoy basis but was a tad lower than NPM 6.82% in the sequential Jun-21 quarter.

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