RATING

RECOMMENDATION

Buy

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  • Available in Depository:

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  • Available for Investment:

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RATING

RECOMMENDATION

Buy

Business Type

Traditional Business

RATING

RECOMMENDATION

Buy

Business Type

Traditional Business

  • Carrier AC Growth

Get detailed information about the Carrier AC Share Price. In this research report, you will get to know about Carrier AC Peers data. In addition, get the Complete details about the Net Profit Growth, Revenue Growth and Book Value Growth.

Carrier AC Revenue Growth

Growth in %

  • -19.91%

    1 Year

  • -2.91%

    3 Year

  • 0.43%

    5 Year

The Revenue for the company in FY21 is Rs.1,218 cr. whereas in FY20 it was Rs.1,524 cr., the company witnessed a decrease of 20% on year on year(y-o-y) basis. This decline in revenue is primarily due to the outburst of the covid-19 pandemic and the consequent national lockdown. The first quarter of FY21 which remains a peak for Air-conditioning industry was totally washed out due to lockdown and volumes were significantly impacted. The overall sales had a downfall in all segments as Sale of finished goods saw a fall of Rs. 103 cr. y-o-y, sale of traded goods saw a fall of Rs. 158 cr. y-o-y and sale of services saw a fall of Rs. 43 cr. y-o-y.

In the meantime, the company channeled its focus to increase its geographic reach and build its brand image by penetrating into tier II and tier III cities and towns. The models of CitimaxTM 280, CitimaxTM 350, CitimaxTM 400 & CitimaxTM 700 for chilled and frozen applications gained traction in the direct vehicle engine-driven segment. 

Carrier AC Net Profit Growth(PAT)

Growth in %

  • -64.56%

    1 Year

  • -38.83%

    3 Year

  • -21.20%

    5 Year

The Net Profit for the company in FY21 stood at INR 17 Cr which was INR 47 Cr in FY20. The company witnessed a decline of 65% in its net profit because of decrease in revenue of the company due to covid-19 and subsequent lockdowns. The company's revenue per expense ratio has fallen to 1.01 in FY21 from 1.03 in FY20. Due to the company's implementation of cost rationalization measures, it was still able to cover some of the losses due to lower volumes and managed to end the year in profits. As the overall expense of the company has decreased by 19% y-o-y.

Carrier AC EPS Growth

Growth in %

  • -64.56%

    1 Year

  • -38.80%

    3 Year

  • -21.18%

    5 Year

The company's EPS fallen at a rate of 65% in 2021 compared to 2020, this was due to fall in net income by 61% y-o-y from Rs. 46 cr. in FY20 to Rs. 18 cr. in FY21. The total outstanding shares for the company remain same at  10,63,80,000 at the end of FY21. 

  • Carrier AC Book Value Growth

Growth in %

  • -38.38%

    1 Year

  • -23.32%

    3 Year

  • -14.13%

    5 Year

The Book Value per Share of the company has been declining since FY17 this is because there was a continuous decline in reserve and surplus of the company reason being dividend declaration, this excess dividend was paid out of the reserve and surplus account of the company due to which the companies surplus account has fallen at a CAGR of 28% since FY17. The dividend was being paid even though the company was not able to grow its profits .

Carrier AC EBITDA Growth

Growth in %

  • -44.47%

    1 Year

  • -19.66%

    3 Year

  • -7.32%

    5 Year

EBITDA fell by  44% y-o-y this was because the company took a hit on its sales due to covid 19, whereas the overall efficiency of the company was good as the company managed to decrease its operating expense. The overall operating expenses of the company fell by 14% y-o-y. 

Carrier AC Operating Profit Growth

Growth in %

  • -54.63%

    1 Year

  • -27.22%

    3 Year

  • -12.72%

    5 Year

The Operating Profit for the company declined from Rs. 97 cr. in FY20 to Rs. 44 cr. in FY21. It decreased by 54% annually primarily due to a decrease in revenue of the company due to covid 19 and subsequent lockdowns, the sales volumes of the company were heavily impacted during Q1 of the FY21 as the Sale of finished goods and sale of traded goods saw a fall of 30% and 19% y-o-y.

Carrier AC Asset Growth

Growth in %

  • -11.42%

    1 Year

  • -6.54%

    3 Year

  • -3.22%

    5 Year

Since FY19, the company's assets have been shrinking at a rate of 13% CAGR, going from Rs. 1,028 cr. in FY19 to Rs. 778 cr. in FY21, owing mostly to a reduction in cash and cash equivalents. Because the company was unable to produce cash from sales in FY21 and FY20 due to Covid 19 and nationwide lockdown, the company had to use previously available funds for its operations and working capital requirements.

Carrier AC Cash Flow from Operations

Growth in %

  • 132.59%

    1 Year

  • 44.65%

    3 Year

  • 26.41%

    5 Year

The company's cash flow from operations in FY21 was INR 135Cr, up 132% from FY20, owing to a rise in trade payables as the company made a large number of its purchases on credit as well as a decrease in inventory by Rs. 60 cr. and Rs. 45 cr. respectively in FY21.

  • Carrier AC Solvency Ratios

Carrier AC D/E Ratio

In FY21, the firm's Debt to Equity ratio was 0.40, compared to 0.23 in FY20, and the company had no debt before FY20. This rising debt-to-equity ratio is primarily due to the company's need for a working capital loan and a bank overdraft in FY20, which the company had paid off in FY21. To be noted, the overall debt with the company was at Rs 12 cr. for FY21 which is a fall of Rs.158 cr. from FY20

Carrier AC Current Ratio

The current ratio and quick ratio for the company in FY21 stand at 1.23 and 0.72, whereas in FY20, it was 1.5 and 0.96, respectively, it has been decreasing since FY17 primarily because the cash and cash equivalents of the company have been decreasing, which led to a decrease in current assets and quick assets of the company as well as another reason for fall was the inventor of the company which has decreased by Rs.45 cr. in FY21

Carrier AC Quick Ratio

Carrier AC Interest Coverage Ratio

The interest coverage ratio for the company in FY21 is 4.17, compared to 5.98 in FY20 and 69.64 in FY19. The company's interest cost has decreased significantly as its borrowings increased in FY20. The company's earnings have also fallen in FY20 and FY21 due to covid 19, which resulted in low sales in FY21 across all revenue segments.

  • Carrier AC Operating Efficiency

The Profit Margins of the company have declined primarily due to covid-19 and subsequent lockdowns, which impacted the company's business in Q1 of FY21, which could have turned out to be a peak period for the company. Also, even after the market opened, the company faced challenges in market demand.

Carrier AC Operating Profit EBIT Margin(OPM)

Carrier AC Profit Before Tax Margin (PBT Margin)

Carrier AC Profit After Tax Margin (PAT Margin)

  • Carrier AC Profitablity Ratio

Carrier AC Return on Equity(RoE)

ROE of the company in FY21 has witnessed a fall of 43% in FY21 from FY20. As per Dupont Analysis, the net income margin was the main reason for this fall in ROE. Net income margin has witnessed a fall of 56% in FY21 from FY20, the reason being the decrease in revenue due to a fall in sales of traded goods, sale of services and sale of air conditioners by 18%, 12% and 30% respectively.  Overall, the asset turnover ratio has seen fall of 8% due to a decrease in cash and cash equivalents and inventory in FY21 . The equity multiplier has shown a rise of  41% due to the fall of total assets  by 13% y-o-y

Carrier AC Return on Capital Employed(RoCE)

The company's return on capital employed has declined from 22.31% in FY20 to 14.93% in FY21, mostly owing to Covid 19, which caused the company to be unable to generate sales, affecting the company's net profit as well.

Carrier AC Return to Assets (RoA)

ROA of Carrier Ac has seen a 59%  fall y-o-y. The reason for this significant fall is the decrease in cash and the fall in the company's investment in 2021; the inventory and cash & cash equivalents have fallen by 14% and 72% in FY21. Whereas the net profit of the company fell by 65% y-o-y.

  • Carrier AC Valuation Ratios

Carrier AC Dividend Yield

Carrier AC Earning Yield