Johnson Controls share price: Add Johnson Controls-Hitachi Air Conditioning India, target price Rs 1935: Centrum Broking

Centrum Broking has add call on Johnson Controls-Hitachi Air Conditioning India with a target price of Rs 1935. The current market price of Johnson Controls-Hitachi Air Conditioning India is Rs 1791.05. Time period given by analyst is one year when Johnson Controls-Hitachi Air Conditioning India Ltd. price can reach defined target.

Johnson Controls-Hitachi Air Conditioning India Ltd., incorporated in the year 1984, is a Mid Cap company (having a market cap of Rs 4902.52 Crore) operating in Consumer Durables sector.

Johnson Controls-Hitachi Air Conditioning India Ltd. key Products/Revenue Segments include Air Conditioners, Sale of services, Scrap and Export Incentives for the year ending 31-Mar-2021.

Financials

For the quarter ended 31-12-2021, the company reported a Standalone Total Income of Rs 576.88 Crore, up 44.46 % from last quarter Total Income of Rs 399.34 Crore and up 17.94 % from last year same quarter Total Income of Rs 489.15 Crore. Company reported net profit after tax of Rs 20.62 Crore in latest quarter.

Investment Rationale
The brokerage expects JCHAC to register 23%/31%/61% revenue/EBITDA/PAT CAGR over FY21-24E, albeit on a suppressed base. Good brand image, healthy product mix (of both premium range and mass-market range), strong support from global parentage and export potential will support its valuation.

Promoter/FII Holdings
Promoters held 74.25 per cent stake in the company as of 31-Dec-2021, while FIIs owned 0.88 per cent, DIIs 13.05 per cent.

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