Buy Voltas, target price Rs 700: Shrikant Chouhan
Shrikant Chouhan recommended to keep a stop loss at Rs 658.
Voltas, incorporated in the year 1954, is a large cap company (having a market cap of Rs 22,371.12 crore) operating in the consumer durables sector.
Voltas key products/revenue segments include electrical goods which contributed Rs 3,651.10 crore to sales value (62.60 per cent of total sales), contract revenue which contributed Rs 1,579.31 crore to sales value (27.07 per cent of total sales), sale of services which contributed Rs 565.76 crore to sales value (9.70 per cent of total sales), other operating revenue which contributed Rs 32.10 crore to sales value (0.55 per cent of total sales) and scrap which contributed Rs 3.99 crore to sales value (0.06 per cent of total sales) for the year ending 31 March, 2018.
For the quarter ended 30-06-2019, the company has reported consolidated sales of Rs 2,646.67 crore, up 29.00 per cent from last quarter sales of Rs 2,051.63 crore and up 24.00 per cent from last year same quarter sales of Rs 2,134.41 crore. The company has reported a net profit after tax of Rs 187.67 crore in latest quarter. The company’s top management includes Anil George, Arun Kumar Adhikari, Bahram N Vakil, D Sarangi, Hemant Bhargava, Noel N Tata, Pradeep Bakshi, V Deshpande, Zubin S Dubash and Anjali Bansal. The company has S R B C & Co. LLP as its auditor. As on 30-09-2019, the company has a total of 330,884,740 shares outstanding.