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Last Updated on: 22 December, 2024
Author: Getaka|Social: Getaka Financial Technology X (Earlier Twitter) Profile Getaka Financial Technology LinkedIn Logo

Johnson Controls-Hitachi Air Condition. India Ltd (JCHAC): Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 2:20 am

Market Cap 4,835 Cr.
Current Price 1,778
High / Low 2,621/950
Stock P/E115
Book Value 217
Dividend Yield0.00 %
ROCE7.35 %
ROE7.81 %
Face Value 10.0
PEG Ratio-1.98

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for

Competitors of

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Johnson Controls-Hitachi Air Condition. India Ltd (JCHAC) 4,835 Cr. 1,778 2,621/950115 2170.00 %7.35 %7.81 % 10.0
Blue Star Ltd 40,660 Cr. 1,978 2,200/92677.5 1330.35 %25.5 %21.2 % 2.00
Industry Average22,747.50 Cr1,878.0096.25175.000.18%16.43%14.51%6.00

All Competitor Stocks of

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales4885794923975766941,010308518548567280300
Expenses420502487392529655997362520524603324303
Operating Profit677756474014-54-223-36-44-3
OPM %14%13%1%1%8%6%1%-17%-0%4%-6%-16%-1%
Other Income24221244-12-03-10-11
Interest4232222123555
Depreciation24211818181818192019161617
Profit before tax4258-14-122821-3-70-352-54-75-35
Tax %26%23%24%25%26%27%24%24%25%149%24%24%23%
Net Profit3144-11-92116-2-53-26-1-41-56-27
EPS in Rs11.3416.34-4.01-3.417.585.77-0.72-19.47-9.62-0.39-15.09-20.74-9.97

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales7989301,1001,5731,6411,9172,1852,2412,1971,6472,1592,3841,913
Expenses7698841,0521,4351,5181,7491,9862,0782,0231,5292,0622,4031,971
Operating Profit29464813812316819916417411897-18-58
OPM %4%5%4%9%7%9%9%7%8%7%4%-1%-3%
Other Income1267277156157-4-19
Interest97128104235149814
Depreciation18203036465253445675727570
Profit before tax32111101691181511321184323-105-161
Tax %-17%26%29%23%27%31%34%35%29%24%29%22%
Net Profit315878508110086843316-82-125
EPS in Rs1.185.632.9628.6018.3829.9136.8331.6130.7212.175.93-30.21-45.84
Dividend Payout %106%23%51%5%8%5%4%5%-0%-0%-0%-0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)400.00%-46.67%875.00%-35.90%62.00%23.46%-14.00%-2.33%-60.71%-51.52%-612.50%
Change in YoY Net Profit Growth (%)0.00%-446.67%921.67%-910.90%97.90%-38.54%-37.46%11.67%-58.39%9.20%-560.98%

has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2012-2013 to 2022-2023.

Growth

Compounded Sales Growth
10 Years:6%
5 Years:-3%
3 Years:5%
TTM:29%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:142%
Stock Price CAGR
10 Years:8%
5 Years:-1%
3 Years:-6%
1 Year:57%
Return on Equity
10 Years:8%
5 Years:0%
3 Years:-5%
Last Year:-8%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 10:30 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital23272727272727272727272727
Reserves213213286331413508586661695713632556562
Borrowings1661251401606013190187891121934840
Other Liabilities4293956265916217087367098329429361,026656
Total Liabilities8317601,0781,1101,1211,2561,5391,5841,6431,7941,7891,6571,285
Fixed Assets178195243265257244232401428391382349346
CWIP112314294699123218
Investments0000000000000
Other Assets6435638338438591,0101,2131,1771,2051,3941,3951,276922
Total Assets8317601,0781,1101,1211,2561,5391,5841,6431,7941,7891,6571,285

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +6858556217297-81140321-55-31254
Cash from Investing Activity +-113-72-51-69-41-32-95-107-26-46-43-32
Cash from Financing Activity +114-5606-110-53170-45-191965-172
Net Cash Flow69-704-22012-6-12104-92-850

Free Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow29.00-120.00-77.00-2.00-37.00108.00186.00-26.00-13.0029.00-15.00-211.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days656366625469734259704972
Inventory Days185152186178138116140190249199177178
Days Payable209159190149133130137144224175143214
Cash Conversion Cycle405563925955778983948336
Working Capital Days443849504145747658726426
ROCE %8%6%27%16%24%29%20%15%6%4%-10%-7%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters74.25%74.25%74.25%74.25%74.25%74.25%74.25%74.25%74.25%74.25%74.25%74.25%
FIIs0.95%0.88%0.99%1.01%1.04%1.03%0.76%0.63%0.49%0.48%0.50%1.24%
DIIs13.59%13.04%12.61%12.47%11.71%11.57%11.14%10.04%9.06%8.90%8.43%7.96%
Public11.21%11.82%12.15%12.26%13.01%13.15%13.84%15.08%16.19%16.36%16.81%16.53%
No. of Shareholders35,86435,78436,44435,15135,23035,64135,67834,26437,54336,75537,38434,053

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Aditya Birla Sun Life ELSS Tax Relief 961,186,7180.95128.5470,0002024-12-211595.31%
HSBC Midcap Fund470,3120.6450.9470,0002024-12-21571.87%
Aditya Birla Sun Life MNC Fund - Div423,0591.3845.8270,0002024-12-21504.37%
Aditya Birla Sun Life MNC Fund - Gr423,0591.3845.8270,0002024-12-21504.37%
Sundaram Equity Savings Fund (Growth Accum)70,0001.157.5870,0002024-12-210%
Sundaram Equity Savings Fund (Qtr Div)70,0001.157.5870,0002024-12-210%
Aditya Birla Sun Life Tax Plan40,3311.34.170,0002024-12-21-42.38%
Motilal Oswal Nifty Microcap 250 Index Fund6,7400.160.7370,0002024-12-21-90.37%
Taurus Flexi Cap Fund5,2580.210.5770,0002024-12-21-92.49%
Groww Nifty Total Market Index Fund150.01070,0002024-12-21-99.98%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)-27.80-30.205.9012.2030.70
Diluted EPS (Rs.)-27.80-30.205.9012.2030.70
Cash EPS (Rs.)-4.18-2.5332.4639.9351.42
Book Value[Excl.RevalReserv]/Share (Rs.)214.41242.43272.11265.48253.22
Book Value[Incl.RevalReserv]/Share (Rs.)214.41242.43272.11265.48253.22
Revenue From Operations / Share (Rs.)705.66876.95794.06605.57808.15
PBDIT / Share (Rs.)3.25-2.5238.4646.1066.34
PBIT / Share (Rs.)-20.42-30.1911.9318.3445.63
PBT / Share (Rs.)-36.41-38.698.3015.9743.51
Net Profit / Share (Rs.)-27.84-30.215.9312.1730.72
PBDIT Margin (%)0.46-0.284.847.618.20
PBIT Margin (%)-2.89-3.441.503.025.64
PBT Margin (%)-5.15-4.411.042.635.38
Net Profit Margin (%)-3.94-3.440.742.013.80
Return on Networth / Equity (%)-12.98-12.462.174.5812.13
Return on Capital Employeed (%)-8.05-10.463.765.7715.79
Return On Assets (%)-4.56-4.590.892.015.27
Total Debt / Equity (X)0.000.210.050.000.23
Asset Turnover Ratio (%)1.111.331.261.021.39
Current Ratio (X)1.201.291.411.461.39
Quick Ratio (X)0.520.420.520.550.47
Inventory Turnover Ratio (X)1.381.731.651.041.85
Interest Coverage Ratio (X)0.53-0.9011.449.2435.93
Interest Coverage Ratio (Post Tax) (X)-1.94-7.842.842.9217.79
Enterprise Value (Cr.)2516.292892.664817.497073.295989.63
EV / Net Operating Revenue (X)1.311.212.234.302.73
EV / EBITDA (X)284.97-422.9046.0756.4233.21
MarketCap / Net Operating Revenue (X)1.351.162.234.372.66
Price / BV (X)4.444.206.499.978.49
Price / Net Operating Revenue (X)1.351.162.234.372.66
EarningsYield-0.02-0.020.000.000.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 1,987.97

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of December 22, 2024, is Undervalued by 11.81% compared to the current share price 1,778.00

Intrinsic Value of as of December 22, 2024 is: 832.69

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 22, 2024, is Overvalued by 53.17% compared to the current share price 1,778.00

Last 5 Year EPS CAGR: -58.11%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (489.92 cr) compared to borrowings (117.15 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (134.15 cr) and profit (40.31 cr) over the years.
  1. The stock has a low average ROCE of 11.50%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 53.08, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 68.83, which may not be favorable.
  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in :
    1. Net Profit Margin: -3.94%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: -8.05% (Industry Average ROCE: 16.43%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: -12.98% (Industry Average ROE: 14.51%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): -1.94
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0.52
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 115 (Industry average Stock P/E: 96.25)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Johnson Controls-Hitachi Air Conditioning India Ltd. is a Public Limited Listed company incorporated on 07/12/1984 and has its registered office in the State of Gujarat, India. Company’s Corporate Identification Number(CIN) is L29300GJ1984PLC007470 and registration number is 007470. Currently Company is involved in the business activities of Manufacture of air-conditioning machines, including motor vehicles air- conditioners. Company’s Total Operating Revenue is Rs. 2159.04 Cr. and Equity Capital is Rs. 27.19 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Air Conditioners9th Floor, Abhijeet-I, Ahmedabad Gujarat 380006hitachi@jci-hitachi.com
https://www.hitachiaircon.com/in
Management
NamePosition Held
Mr. Nobuyuki TaoChairman
Mr. Sanjay SudhakaranManaging Director
Mr. Yoshikazu IshiharaDirector
Ms. Shalini KamathIndependent Director
Mr. Raman MadhokIndependent Director
Mr. Anil ShankarIndependent Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 22 December 2024 is ₹1987.97, which is 11.81% higher than the current market price of ₹1,778.00. The stock has a market capitalization of 4,835 Cr. and recorded a high/low of 2,621/950 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹562 Cr and total liabilities of ₹1,285 Cr.

What is the Market Cap of ?

The Market Cap of is 4,835 Cr..

What is the current Stock Price of as on 22 December 2024?

The current stock price of as on 22 December 2024 is 1,778.

What is the High / Low of stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of stocks is 2,621/950.

What is the Stock P/E of ?

The Stock P/E of is 115.

What is the Book Value of ?

The Book Value of is 217.

What is the Dividend Yield of ?

The Dividend Yield of is 0.00 %.

What is the ROCE of ?

The ROCE of is 7.35 %.

What is the ROE of ?

The ROE of is 7.81 %.

What is the Face Value of ?

The Face Value of is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in . Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE