Hitachi Electrical Appliances

Analyst at Jefferies believes FY24E should see both Air-Conditioner (AC) and Engineering segments of Voltas being in a sweet spot.

Revenue growth estimates have moderated post Q2 but the bottom may be close

Hitachi Energy India on Friday posted an over 31 per cent rise in net profit to Rs 51.68 crore for the March quarter, mainly on the back of higher revenues. The company had posted a net profit of Rs 39.44 crore in the quarter ended March 31, 2021, a BSE filing showed. Total income in the quarter under review rose to Rs 1,142.13 crore from Rs 1,023.77 crore in the year-ago period. The company follows the January to December fiscal year. The board of directors recommended a dividend of Rs 3 per share (150 per cent), subject to the approval of members at the forthcoming Annual General Meeting. It also re-appointed N Venu as managing director and CEO of the company for a further period of five years commencing December 2, 2022. Besides, the board reappointed the independent directors -- Akila Krishnakumar, Nishi Vasudeva and Mukesh Butani -- for a second term of five years commencing December 24, 2022. The re-appointments are subject to the approval of the shareholders. "The continu

Firm plans to hike local procurement from 36% to 85% in near future; eyes European market