Johnson Controls - Hitachi Air Conditioning India Ltd.
Snapshot View

1788.35 -35.80 ▼-2.0%

24 May 2022, 04:01:00 PM
Volume: 45

Overview View Details

Sector Consumer Durables Compare with Sector peers
Industry Air Conditioners Compare with Industry peers
Website https://www.jci-hitachi.com/
Market Cap 4,858.88 Cr.
Enterprise Value(EV) 4,828.33 Cr. 2021-09
Financial Indicators
Earnings per share (EPS) 16.50 Trailing Twelve Months Ending 2021-12
Price-Earning Ratio (PE) 108.29 Trailing Twelve Months Ending 2021-12
Industry PE 70.37 Trailing Twelve Months Ending 2021-12
Book Value / Share 265.92 Trailing Twelve Months Ending 2021-12
Price to Book Value 6.72 Calculated using Price: 1,786.95
Dividend Yield 0.00 Period Ending 2021-03
No. of Shares Subscribed 2.72 Cr. 27,190,884 Shares
FaceValue 10
Company Profile

Johnson Controls–Hitachi Air Conditioning India was established on October 1, 2015 as a joint venture between Hitachi Appliances, Inc. (now Hitachi Global Life Solutions, Inc.) and Johnson Controls, Inc. Hitachi Appliances carved out and contributed its air conditioning business to the Joint Venture. Johnson Controls acquired a 60% stake of the carved-out business and Hitachi Global Life Solutions, Inc. continues as a 40% shareholder of this venture. With this joint venture, two rich, 100-year-old cultures and histories have come together to create one exciting new company, serving its combined customers with the most diverse product portfolio in the air conditioning industry.

The company has emerged as one of the main players in the Indian air-conditioning market. A pioneering figure among the most respected and regarded business entities in the industry, it has evolved radically. Headquartered in Ahmedabad, Gujarat, the company has its cutting-edge manufacturing facilities stationed at Kadi, Mehsana. With access to one of the largest manufacturing facilities in India, the Company’s manufacturing unit, holds the capacity to assemble under a single roof, a wide range of cooling products that cover both residential and commercial cooling functions.

It is passionate about exceeding expectations of its customers, and it looks forward to bringing innovative HVAC solutions to them. The company constantly innovates, brings in world-class technology, newer concepts and incorporate advanced features in order to provide an array of products to the entire world, which can make life for its clientele as comfortable and soothing as it can get. In order to serve its customers even better, the company owned and operated, 24x7 customer care centers, which provide prompt resolutions to customers concerns across India.

Business area of the company

The company manufactures a wide range of products, from room air-conditioners (Split & Window ACs) to commercial air-conditioners including VRF Systems, Ductable air-conditioners, Chillers and Telecom air-conditioners under the brand name of ‘Hitachi Cooling & Heating’. The company also deals with the trading of Refrigerators and Air Purifiers.

Product Portfolio

Residential Cooling Solution: Inverter Split Air Conditioners, Fixed Speed Split Air Conditioners, Window Air Conditioners.

Commercial Cooling & Heating Solution: Packaged Air Conditioners, Chillers, VRF, Space maker.

Home Appliances Solution: Refrigerators, Air Purifiers.

Certification

  • ISO 14001- 2015 Environment Management System (EMS) Certified.
  • ISO 9001:2015 Quality Management Systems.
  • ISO 45001-2018 Certificate for Occupational Health and Safety Management Systems.

Awards

  • 2016: Receives Environment Minister's Award for Global Warming Prevention Activities 2016.
  • 2016: The Emerson Cup - For Product Innovation in Air Conditioning.
  • 2018: Frost & Sullivan’s ‘Indian Smart Air Conditioners Company of the Year’ Award.
  • 2018: India Copper Association’s ‘Copper Excellence Award’-For Successfully providing reliable and energy efficient room air conditioners by using 100% copper tubes.
  • 2019: Hitachi room air conditioner ‘Shirokuma-kun’ awarded ‘FY2019 Energy Conservation Grand Prize’ of Japan.
  • 2020: Design panel ‘Silent-Iconic’ and Hitachi room air conditioner ‘Shirokumakun’ W Series awarded 2020 Good Design Award.
  • 2020: Design panel for 4-way cassette indoor unit ‘Silent-Iconic’ awarded iF DESIGN AWARD 2020.

Milestones

  • 1984: The company was incorporated as Acquest Air conditioning Systems.
  • 1991: The company launched its first side throw Air Conditioner (AC).
  • 1992: The company launched the first Hi Wall Mounted Split AC.
  • 1996: The company introduced the first ceiling mounted split AC.
  • 1997: It launched its first Home AC brand – Nidra.
  • 1999; The company launched 'Hitachi' brand of airconditioners in India. 
  • 2001: Hitachi conducted first ever mass marketing of ACs with remote microprocessor controlled intelligence - Logicool.
  • 2003: The company changed its name to Hitachi Home and Life Solutions (India).
  • 2004: It introduced small split ACs in the world by using Lambda technology and named it as Hitachi Atom.
  • 2004: It introduced the most powerful and silent window AC using Twin Turbo Technology and named it as Quadricool.
  • 2005: Hitachi launched Quadricool -- a window AC that used twin motor technology.
  • 2005: For a cleaner and healthier environment, Hitachi launched UV Fresh technology in Atom.
  • 2005: The company launched Atom + One technology in split ACs that would cool two rooms with one unit.
  • 2005: The company also launched Atom XL - A small cooling solution for the large areas.
  • 2005: It introduced Hitachi refrigerators in India
  • 2005: The company launched fully automatic washing machines in India.
  • 2011: Launched i-Clean, India's First air conditioner with Automatic filter cleaning technology by which it cleans its filter automatically.
  • 2011: Launched Summer, India's First 5 star rated Window air conditioner.
  • 2012: Introduced India's First star rated Cassette air conditioner.
  • 2012: Introduced 5 star rated Summer TM window air conditioner with twin motor technology.
  • 2012: Introduced Inverter technology in refrigerators.
  • 2013: Launched i-Clean Inverter AC and i-Clean Hot & Cold Inverter AC.
  • 2013: Launched India's First French Door Bottom Freezer Refrigerator.
  • 2013: Hitachi Home & Life Solutions (India) has re-constructed manufacturing facility at Karan Nagar.
  • 2014: Japanese electronic goods maker Hitachi has emerged as the top contender to buy the promoter's stake in Crompton Greaves, a power transmission and distribution company owned by billionaire Gautam Thapar.
  • 2015: Johnson Controls and Hitachi sign definitive agreement to form global HVAC joint venture.
  • 2015: Hitachi Automotive establishes new auto parts plant in Tamil Nadu.
  • 2016: Hitachi Elevator Asia has been awarded an order for 23 units of elevators from ITC which is setting up a five-star deluxe hotel project in Hyderabad.
  • 2016: Hitachi Home & Life Solutions (India) changed to Johnson Controls.
  • 2016: Hitachi Air Conditioning India and the trading symbol of the Company changed from HITACHIHOM TO JCHAC.
  • 2016: Hitachi has announced a joint venture with electronics equipment manufacturer Johnsons Control to provide innovative and complete HVAC (heating, ventilation, and air conditioning) solutions.
  • 2017-Newly Developed a Heat Recycle Absorption Chiller.
  • 2018: Renewal Models of ‘FLEXMULTI-R’ Have Been Developed.
  • 2019: Johnson Controls-Hitachi Air Conditioning opens Global Development Center in India.
  • 2019: Johnson Controls-Hitachi Air Conditioning to relocate and expand factory in Wuhu, China.
  • 2019: Johnson Controls-Hitachi Air Conditioning brings Hitachi compressor technology to China Refrigeration 2019.

Delivery View Details

Delivered Qty
Traded Qty

Performance View Details

1 Day
-1.96%
1 Week
-2.23%
1 Month
-9.99%
3 Month
+5.58%
6 Month
-9.92%
1 Year
-21.11%
2 Year
-16.13%
5 Year
-2.28%
10 Year
+1365.98%
9 years 2013-03 2014-03 2015-03 2016-03 2017-03 2018-03 2019-03 2020-03 2021-03
Return on Equity (%) 8.67 3.82 28.13 14.90 20.38 20.53 14.97 12.84 4.69
Return on Capital Employed (%) 8.29 6.07 26.74 16.27 24.10 29.27 20.00 14.95 7.26
Return on Assets (%) 2.15 1.01 8.46 4.40 6.69 7.53 5.48 4.76 1.82

Balance Sheet View Details

Particulars 10 years 2013-03 Rs. Cr. 2014-03 Rs. Cr. 2015-03 Rs. Cr. 2016-03 Rs. Cr. 2017-03 Rs. Cr. 2018-03 Rs. Cr. 2019-03 Rs. Cr. 2020-03 Rs. Cr. 2021-03 Rs. Cr. 2021-09* Rs. Cr.
Shh. Funds 236 240 313 358 440 535 613 689 722 702
Non Curr. Liab. 69 55 62 119 125 165 192 308 352 110
Curr. Liab. 526 465 704 716 672 723 910 799 779 358
Minority Int.
Equity & Liab. 831 760 1,078 1,193 1,238 1,423 1,715 1,795 1,852 1,170
Non Curr. Assets 206 228 270 382 388 408 513 684 712 482
Curr. Assets 625 532 808 811 850 1,016 1,202 1,110 1,140 689
Misc. Exp. not W/O
Total Assets 831 760 1,078 1,193 1,238 1,423 1,715 1,795 1,852 1,170

Profit Loss View Details

Particulars 10 years 2013-03 Rs. Cr. 2014-03 Rs. Cr. 2015-03 Rs. Cr. 2016-03 Rs. Cr. 2017-03 Rs. Cr. 2018-03 Rs. Cr. 2019-03 Rs. Cr. 2020-03 Rs. Cr. 2021-03 Rs. Cr. 2021-12 Rs. Cr. TTM
Net Sales 930 1,100 1,573 1,641 1,917 2,185 2,241 2,197 1,647 2,044
Other Income 2 6 7 2 7 7 15 10 13 9
Total Income 932 1,106 1,580 1,642 1,924 2,193 2,257 2,207 1,660 2,053
Total Expenditure -884 -1,052 -1,435 -1,518 -1,750 -1,987 -2,078 -2,027 -1,535 -1,910
PBIDT 48 53 145 125 175 206 179 180 125 143
Interest -7 -12 -8 -10 -4 -2 -3 -5 -14 -9
Depreciation -20 -30 -36 -46 -52 -53 -44 -56 -75 -75
Taxation -5 -3 -23 -19 -37 -51 -46 -35 -10 -14
Exceptional Items -1 7
PAT 15 8 78 50 81 100 86 84 33 45
Adjusted EPS 7 3 29 18 30 37 32 31 12 17

Cash Flow View Details

Particulars 10 years 2012-03 Rs. Cr. 2013-03 Rs. Cr. 2014-03 Rs. Cr. 2015-03 Rs. Cr. 2016-03 Rs. Cr. 2017-03 Rs. Cr. 2018-03 Rs. Cr. 2019-03 Rs. Cr. 2020-03 Rs. Cr. 2021-03 Rs. Cr.
Cash Fr. Operatn. 26 68 58 55 62 172 97 -81 140 321
Cash Fr. Inv. -21 -113 -72 -51 -69 -41 -32 -95 -107 -26
Cash Fr. Finan. -5 114 -56 0 6 -110 -53 170 -45 -191
Net Change 1 69 -70 4 -2 20 12 -6 -12 104
Cash & Cash Eqvt 2 71 2 5 3 23 35 30 18 122

Shareholding Pattern View Details

9 Qtrs 2020-03 (%) 2020-06 (%) 2020-09 (%) 2020-12 (%) 2021-03 (%) 2021-06 (%) 2021-09 (%) 2021-12 (%) 2022-03 (%)
Promoter 74.25 74.25 74.25 74.25 74.25 74.25 74.25 74.25 74.25
Public 25.75 25.75 25.75 25.75 25.75 25.75 25.75 25.75 25.75
Depository Receipts 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Promoter Holding Pledge (%) 0.00 0.00 0.00 0.00 0.00 32.32 32.32 32.32 32.32

Announcements View Details

Mon, 09 May 2022
Board Meeting Intimation for Notice Of Board Meeting
Johnson Controls-Hitachi Air Conditioning India Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 26/05/2022 inter alia to consider and approve Meeting of the Board of Directors of the Company will be held on 26th May 2022 to consider and take on record Audited Financial Results of the Company for the year ended on 31st March 2022.
Tue, 12 Apr 2022
Format of Initial Disclosure to be made by an entity identified as a Large Corporate
Format of Initial Disclosure to be made by an entity identified as a Large Corporate.

Sr. No. Particulars Details
1Name of CompayJohnson Controls-Hitachi Air Conditioning India Ltd
2CINL29300GJ1984PLC007470
3 Outstanding borrowing of company as on 31st March / 31st December as applicable (in Rs cr) 0.00
4Highest Credit Rating during the previous FY NA
4aName of the Credit Rating Agency issuing the Credit Rating mentioned in (4)Not Applicable
5Name of Stock Exchange# in which the fine shall be paid in case of shortfall in the required borrowing under the frameworkBSE


We confirm that we are a Large Corporate as per the applicability criteria given under the SEBI circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26 2018. No



Name of the Company Secretary: Parag Dave
Designation: Company Secretary
EmailId: parag.dave@jci-hitachi.com
Name of the Chief Financial Officer: Rishi Mehta
Designation: Chief Financial Officer
EmailId: rishi.mehta@jci-hitachi.com

Date: 12/04/2022

Note: In terms para of 3.2(ii) of the circular beginning F.Y 2022 in the event of shortfall in the mandatory borrowing through debt securities a fine of 0.2% of the shortfall shall be levied by Stock Exchanges at the end of the two-year block period. Therefore an entity identified as LC shall provide in its initial disclosure for a financial year the name of Stock Exchange to which it would pay the fine in case of shortfall in the mandatory borrowing through debt markets.
Mon, 11 Apr 2022
Certificate Of Practicing Company Secretary Under Regulation 40(9) Is Attached.
Certificate of Practicing Company Secretary under Regulation 40(9) for the year ended 31.03.2022 is attached.

Technical Scans View Details

Tue, 24 May 2022
Close Crossing Last Month Low Close Crossing Last Month Low
Closing Below Previous Low Closing Below Previous Low
Close Within 52 Week Low Zone Close Within 52 Week Low Zone
High Decrease 1 Month High Decrease 1 Month
William %R Trending Down William %R Trending Down

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