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

Centrum Broking has appealed to 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. The period given by the analyst is one year when the price of Johnson Controls-Hitachi Air Conditioning India Ltd. can achieve the set goal.

Johnson Controls-Hitachi Air Conditioning India Ltd., incorporated in 1984, is a mid-cap company (having a market capitalization of Rs 4902.52 Crore) operating in the consumer durables sector.

Major products/revenue segments of Johnson Controls-Hitachi Air Conditioning India Ltd. include air conditioners, service sales, disposal and export incentives for the year ending March 31, 2021.


For the quarter ended 31-12-2021, the company reported total standalone revenue of Rs 576.88 Crore, up 44.46% from last quarter, total revenue of Rs 399.34 Crore and in up 17.94% from the same quarter last year, total revenue of Rs 489.15 Crore. The company reported a net profit after tax of Rs 20.62 Crore last quarter.

Investment rationale
The brokerage expects JCHAC to post 23%/31%/61% Revenue/EBITDA/PAT CAGR in FY21-24E, albeit on a suppressed basis. A good brand image, a healthy range of products (from the premium range to the consumer range), strong support from global affiliations and export potential will support its valuation.

Promoter/Fii Holdings
The promoters held 74.25% of the company’s capital as of December 31, 2021, while the FIIs held 0.88% and the DIIs 13.05%.

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Richard L. Militello