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Carrier Airconditioning and Refrigeration Limited

Company Name
Carrier Airconditioning and Refrigeration Limited
Last Traded Price (LTP)
260.00
% Change
+ 1.96 %
Scrip Name
Carrier Aircon
ISIN No.
INE040I01011
PAN No.
AAACC8414B
Face Value
10
No. of Outstanding Shares
106,376,745
Market Capitalization
2,765.80 Crore
Book value
25.596
P/BV
10.1578
EPS
3.959
PE ratio
65.673
Available on
nsdlcdsl
ROFR Required
No

Carrier Airconditioning Share Price & Delisted Shares - Company Overview

Carrier Airconditioning & Refrigeration Limited is a leader in supplying high-technology heating, air-conditioning, and refrigeration solutions across Asia. The world-first electrical air conditioning system was invented by Willis Haviland Carrier in 1902. Therefore, Carrier was the first company to start Air Conditioning System Business. Not only this, India’s first air-conditioning system was installed by Carrier at Rambagh Palace in Jaipur in 1936. In India, Carrier Air-conditioning & Refrigeration Limited was established in 1986, and in the year 1988, the company’s first manufacturing facility was commissioned in Gurgaon, Haryana. The manufacturing facility covers 19 acres of area and consists highly automated manufacturing unit, an R&D center, and an advanced quality clinic. Currently, this facility manufactures cassettes, ducted splits, package units, air- and water-cooled screw chillers, air- and water-cooled reciprocating chillers, fan coil units, air handling units, refrigeration products, and fire & security products.

Carrier Air-conditioning & Refrigeration Limited has established 14 sales and service offices in India and manages a network of 800+ sales and service channel partners across the country.

The company’s main business segments are: 

  • Light Commercial Air-conditioning (LC), is further classified as the ducted segment and Cassette segment.
  • Commercial Air-conditioning
  • Toshiba
  • Commercial and Toshiba Service
  • Channel Business Service
  • Totaline
  • Commercial Refrigeration
  • Transicold
  • AdvanTE3C

Carrier Airconditioning Share Price Details As of March 31, 2022

Carrier Airconditioning Outstanding Shares: 106,376,745
Face Value of Carrier Airconditioning Unlisted Share: Rs. 10 Per Equity Share
ISIN of Carrier Airconditioning Unlisted Share: INE040I01011
Lot Size of Carrier Airconditioning Unlisted Share: 100 Shares
Carrier Airconditioning Share Price: Best in Industry
PAN Number of Carrier Airconditioning: AAACC8414B

Incorporation Details of Carrier Airconditioning 

CIN of Carrier Airconditioning

U74999HR1992FLC036104

Registration Date of of Carrier Airconditioning

6th July 1992

Category / Sub-Category of  Carrier Airconditioning

Company Limited by Shares/ Subsidiary of a Foreign Company

Address of the Registered office and contact details  of  Carrier Airconditioning

Narsingpur, KherkiDaula Post, Gurgaon - 122001,

Haryana,

Tel: 0124 - 4825500

Name, Address and Contact details of Registrar and Transfer Agent, if any

MCS Share Transfer Agent Limited,              

F-65, 1st Floor, Okhla Industrial Area, Phase- 1,

New Delhi- 110020,

Tel: 011-4140 6149/50/51/52,

Principal Business Activities of Carrier Airconditioning 

Name and Description of main products/services

NIC Code of the product/service

% to the total turnover of the Company

Room Air-conditioners

3550

81.83%

Spare Sales & Services

3558 & 9987

18.17%

Board of Directors of Carrier Airconditioning

Mr. Chirag Baijal, Managing Director

Mr. Narendra Singh Sisodia, Independent Director

Mr. Siraj Azmat Chaudhry, Independent Director

Mr. Pankaj Prakash Sahni, Independent Director

Mr. Pritesh Agrawal, Whole-time Director and CFO

Mr. Rahul Kumar Jain Whole-time Director

Ms. Simran Thapar, Whole-time Director

Mr. Har Amrit Pal Singh Dhillon, Non-Executive Director

Particulars of Subsidiary and Associate Companies of Carrier Airconditioning 

Carrier Airconditioning & Refrigeration Limited has no Subsidiary or Associate Company.

Shareholding Pattern of Carrier Airconditioning (As of 31-03-2022)

S. No.

Shareholders’ Name

No. of Shares

% of total Shares of the company

1.

Carrier Corporation, Delaware (Holding Company)

10,26,18,689

96.46%

2.

Others

37,58,056

3.54%

 

Total

10,63,76,745

100%

Industry Outlook of Carrier Airconditioning         

The Airconditioning industry was impacted during peak season because of the second wave in financial year 2021-2022 however when the market opened, your Company received a significant demand pull from the market. Pandemic impacted the supply chain adversely, but your Company managed the working capital well and catered to customer demands in spite of supply chain disruption.

After starting to make the Fixed Speed Toshiba brand Hi-wall Airconditioners last year in India, this year your company started the localization of the Inverter Hi-Wall 3 Star product. The Toshiba brand Light Commercial Cassette product range was extended with the launch of the Stable Power Inverter (SPI) Classic and SPI Premier. Both these offerings are now with the more environmental friendly refrigerant R-32 with a very low Global Warming Potential. The SPI Premier product is being offered with a PM 2.5 filter for better Indoor Air Quality. Carrier also refreshed the range of Inverted ducted product with better efficiencies and made the product competitive. In the Ducted Produced Carrier’s entire range from 3TR to 17 TR is now with the environment friendly refrigerant R-410a. Carrier also acquired the Toshiba.

The Commercial Business saw some of the segments like the industrial/manufacturing getting back to Business normalcy faster than other segments and your company converted these opportunities into Business at speed. With our increased focus on Airside Market, your company picked up orders for more than 6000 terminal units manufactured in your factory in a single year for the first time. Your company also won many significant orders from the emerging Renewable energy sector (Solar & Wind) thus creating a strong reference base.

The company also sold products and solutions which helped make buildings healthier. Solutions like the Ultra Violet Germicidal Irradiation were offered for ducted units and air handling units for better indoor air quality. Air purifiers with high levels of air purification, Air handling units with enhanced filtration also helped make customers buildings healthier. Treated Fresh Air Units and Energy Recovery Ventilators were also pushed in the market for enhanced and efficient ventilation for creating healthier environment inside buildings.

Balance Sheet of Carrier Airconditioning & Refrigeration Limited (In Rs. Lakhs)

Particulars

31st March 2022

31st March 2021

31st March 2020

ASSETS

 

 

 

NON-CURRENT ASSETS

 

 

 

Property, plant and equipment

6766

7264

7111

Intangible Assets

262

297

314

Financial Assets

557

507

540

Other Non-Current Assets

2191

2117

1851

TOTAL NON-CURRENT ASSETS

17,196

17,035

17,532

CURRENT ASSETS

 

 

 

Inventories

33,681

25,130

29,294

Financial Assets:

 

 

 

Trade Receivables

25,728

27,414

28,073

Cash and Cash equivalents

6488

1347

4879

Other Financial assets

2895

2423

1603

Other Current assets

5103

4125

5049

TOTAL CURRENT ASSETS

74,056

60,716

70,239

TOTAL ASSETS

91,252

77,751

87,771

EQUITY AND LIABILITIES

 

 

 

EQUITY

 

 

 

Equity share capital

10,638

10,638

10,638

Other Equity

16,590

13,071

11,175

TOTAL EQUITY

27,228

23,709

21,813

LIABILITIES

 

 

 

NON-CURRENT LIABILITIES

 

 

 

Financial liabilities

1354

537

946

Provisions

5891

5627

5728

Other Non-Current liabilities

222

203

278

TOTAL NON-CURRENT LIABILITIES

7467

6367

6952

CURRENT LIABILITIES

 

 

 

Borrowings

-

-

15,337

Trade Payables

43,149

37,252

32,600

Other Current Liabilities

9651

7253

7567

Provisions

1771

1040

1153

TOTAL CURRENT LIABILITIES

56,557

47,675

59,006

TOTAL LIABILITIES

64,024

54,042

65,958

TOTAL EQUITY AND LIABILITIES

91,252

77,751

87,771

Profit & Loss Statement of Carrier Airconditioning & Refrigeration Limited (In Rs. Lakhs)

Particulars

2022

2021

2020

Revenue from Operations

1,61,207

1,21,813

1,52,444

Other Income

3457

3078

2501

EBITDA

 8444

5802

10,705

EBITDA margin

5.23%

4.76%

7.02%

Finance cost

272

1054

1619

Depreciation

2347

1985

1804

Other Expenses

36,222

30,898

38,952

Profit before tax

5699

3340

8065

Tax

 1488

1672

3358

Profit after Tax (PAT)

4211

1668

4707

PAT margin

2.61%

1.36%

3.08%

EPS (Basic & Diluted) (In Rs.)

3.96

1.57

4.43

Dividend and Retained Earnings of Carrier Airconditioning 

Particulars

2022

2021

2020

Dividend (In Rs.)

1

0.50

Nil

Retained Earnings (In Rs. Lakhs)

14,599

11,029

9206

Performance of Carrier Airconditioning 

  • Carrier Airconditioning & Refrigeration Limited reported a growth of 32.34% in revenue from the operation and reached Rs. 1,61,207 lakhs in FY 2022 as against Rs. 1,21,813 lakhs in FY 2021.

  • The EBITDA of the company for FY 2022 was Rs. 8444 lakhs, a 45.53% increase from the EBITDA of FY 2021 which was Rs. 5802 lakhs. EBITDA margin slightly increased by 0.47% in FY 2022.
  • The company had a fall in Finance cost of around 74.19% in FY 2022 and paid Rs. 272 lakhs as against Rs. 1054 lakhs in FY 2021.
  • The company’s Profit after Tax (PAT) increased to Rs. 4211 lakhs in FY 2022, an increase of 152.45% from Rs. 1668 lakhs in FY 2021.  
  • The Current Ratio of the company for FY 2022 stood at 1.30, which clearly states that there is sufficient liquidity in the company.
  • The Return on equity ratio of the company as of 31st March 2022 was 16%.
  • Carrier Air Conditioning & Refrigeration Limited has given dividends of Rs. 0.50 and Rs. 1 in FY 2021 and FY 2022 respectively.

 

 

 

 

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