MAM
Voltas Q2: Net profit sinks 26 per cent to Rs 80 crore
MUMBAI: Consumer electronics firm Voltas has posted net profit of Rs 80 crore for the quarter ended 30 September 2020. This is a decline of 26 per cent from the same quarter last fiscal when the company reported net profit of Rs 107.3 crore.
The consolidated total income for the period was higher by 10 per cent at Rs 1,651 crores as compared to Rs 1,495 crores in the corresponding quarter last year. Earnings per share (face value per share of Re 1) (not annualized) as on 30 September 2020 was Rs 2.37 as compared to Rs 3.22 last year.
The results take into account the effect of merger of a 100 per cent subsidiary-universal comfort products limited with effect from 1 April 2019, which has been approved by the National Company Law Tribunal on 11 September 2020.
Consolidated segment results for the quarter ended 30 September 2020:
Unitary cooling products for comfort and commercial use: The business achieved overall volume growth of 14 per cent contributed by growth of 11 per cent in room air conditioners, 20 per cent in commercial refrigeration products and 28 per cent in air coolers. Voltas continued to be the market leader and has sustained its no 1 position in the room air conditioner business and further improved its market share to 26.8 per cent in August 2020. Segment revenue increased by nine per cent and was Rs 572 crores as compared to Rs 526 crores in the corresponding quarter last year. Segment result was higher by 37 per cent at Rs 63 crores as compared to Rs 46 crores in the corresponding quarter last year.
Electro-mechanical projects and services: Segment revenue for the quarter was higher at 15 per cent at Rs 928 crores as compared to Rs 809 crores in the corresponding quarter last year. Segment result was Rs 23 crores as compared to Rs 56 crores last year primarily due to conservative time based provisions, amidst liquidity constraints on some of the old legacy projects. Carry forward order book of the segment was higher at Rs 6,852 crores as compared to Rs 6,567 crores in the corresponding quarter last year.
Engineering products and services: Segment revenue and result for the quarter were at Rs 93 crores and Rs 29 crores as compared to Rs 80 crores and Rs 25 crores, respectively in the corresponding quarter last year.
Consolidated results for the six month period ended 30 September: Impacted by the Covid2019 lockdown, the consolidated total income for the six months period ended 30 September 2020 was at Rs 3,015 crores as compared to Rs 4,192 crores in the corresponding period last year. Profit before tax was at Rs 223 crores as compared to Rs 408 crores last year. Profit after tax was Rs 161 crores as against Rs 274 crores in the corresponding period last year. Earnings per share (face value per share of Re 1) (not annualized) as on 30 September 2020 was Rs 4.82 as compared to Rs 8.21 last year.
Brands
Faber-Castell India appoints Sunaina Haldar as director – marketing
With stints at Tata, SleepyCat and ADF Foods under her belt, Haldar is primed to redraw Faber-Castell’s brand story
MUMBAI: Faber-Castell India has poached Sunaina Haldar from ADF Foods, appointing her director – marketing as the German stationery brand looks to muscle up in a category that is rapidly reinventing itself around creativity and self-expression.
Haldar hit the ground running. “My first couple of weeks have been incredibly energising, understanding consumers, visiting markets, engaging with retailers and immersing myself into the world of Faber-Castell Group,” she said.
She arrives with considerable firepower. At ADF Foods, Haldar ran marketing across India and international markets for a portfolio spanning Ashoka, Aeroplane, Camel and ADF Soul. Before that, she was vice-president – marketing at direct-to-consumer mattress brand SleepyCat, where she helmed brand, content and performance marketing. Her résumé also includes a stint leading marketing, new product development and CRM for Tata SmartFoodz at Tata Consumer Products, no small proving ground.
Between corporate roles, Haldar also operated as a fractional CMO for early-stage startups, building marketing strategy and operational structures from scratch, a signal that she knows how to move fast with limited resources.
With 18 years straddling FMCG, D2C and the startup world, Haldar now takes the reins at a brand that has long owned the classroom but is clearly hungry for the living room. In a stationery market where the pencil has become a lifestyle statement, Faber-Castell has picked someone who knows exactly how to sell that story.
