Johnson Controls-Hitachi Air Conditioning India
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Johnson Controls-Hitachi Air Conditioning India Limited manufactures, markets, and trades in air conditioners, refrigerators, washing machines, air purifiers, chillers, and variable refrigerant flow systems in India. The last earnings update was 79 days ago. More info.
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JCHAC Share Price and Events
7 Day Returns
1 Year Returns
JCHAC Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Johnson Controls-Hitachi Air Conditioning India (JCHAC) | -4.6% | 0.5% | 7.3% | -27.2% | 32.7% | 1030% |
| IN Consumer Durables | 0.5% | 0.2% | 4.2% | -12.9% | 53.5% | 261.1% |
| IN Market | 1.7% | 2.7% | 5.8% | 0.1% | 41.6% | 73.3% |
1 Year Return vs Industry and Market
- JCHAC underperformed the Consumer Durables industry which returned -12.9% over the past year.
- JCHAC underperformed the Market in India which returned 0.1% over the past year.
Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Johnson Controls-Hitachi Air Conditioning India
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Johnson Controls-Hitachi Air Conditioning India.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 1 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 15.7% |
| Perpetual Growth Rate | 10-Year IN Government Bond Rate | 7.6% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year IN Govt Bond Rate | 7.6% |
| Equity Risk Premium | S&P Global | 8.6% |
| Consumer Durables Unlevered Beta | Simply Wall St/ S&P Global | 0.92 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.921 (1 + (1- 35%) (0%)) |
0.947 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.95 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (0.947 * 8.6%) |
15.69% |
Discounted Cash Flow Calculation for NSEI:JCHAC using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Johnson Controls-Hitachi Air Conditioning India is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (INR, Millions) | Source |
Present Value Discounted (@ 15.69%) |
|
|---|---|---|---|
| 2019 | 478.53 | Est @ -24.38% | 413.62 |
| 2020 | 407.71 | Est @ -14.8% | 304.61 |
| 2021 | 374.71 | Est @ -8.09% | 241.98 |
| 2022 | 361.96 | Est @ -3.4% | 202.04 |
| 2023 | 361.55 | Est @ -0.12% | 174.43 |
| 2024 | 369.44 | Est @ 2.18% | 154.06 |
| 2025 | 383.46 | Est @ 3.79% | 138.22 |
| 2026 | 402.33 | Est @ 4.92% | 125.35 |
| 2027 | 425.30 | Est @ 5.71% | 114.53 |
| 2028 | 451.93 | Est @ 6.26% | 105.20 |
| Present value of next 10 years cash flows | ₹1,974.03 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= ₹451.93 × (1 + 7.55%) ÷ (15.69% – 7.55%) |
₹5,968.87 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= ₹5,968.87 ÷ (1 + 15.69%)10 |
₹1,389.38 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= ₹1,974.03 + ₹1,389.38 |
₹3,363.41 |
| Equity Value per Share (INR) |
= Total value / Shares Outstanding
= ₹3,363.41 / 27.19 |
₹123.7 |
| Calculation | Result | |
|---|---|---|
| Non-primary Listing Adjustment Factor |
1 share in NSEI:JCHAC
represents 0.99997x
of
BSE:523398
(This could be a different class, a depositary receipt, a different currency, or all of these things.) |
0.99997x |
| Value per Share (Listing Adjusted, INR) |
= Value per Share (INR) x Listing Adjustment Factor
= ₹ 123.70 x 0.99997 |
₹123.69 |
| Value per share (INR) | From above. | ₹123.69 |
| Current discount | Discount to share price of
₹1,922.15
= -1 x (₹1,922.15 - ₹123.69) / ₹123.69 |
-1454% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Johnson Controls-Hitachi Air Conditioning India is above its future cash flow value.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Johnson Controls-Hitachi Air Conditioning India's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Johnson Controls-Hitachi Air Conditioning India's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in INR | ₹30.94 |
| BSE:523398 Share Price ** | BSE (2019-04-18) in INR | ₹1922.2 |
| India Consumer Durables Industry PE Ratio | Median Figure of 42 Publicly-Listed Consumer Durables Companies | 27.68x |
| India Market PE Ratio | Median Figure of 2,735 Publicly-Listed Companies | 16.29x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Johnson Controls-Hitachi Air Conditioning India.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = BSE:523398 Share Price ÷ EPS (both in INR) = 1922.2 ÷ 30.94 |
62.12x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Johnson Controls-Hitachi Air Conditioning India is overvalued based on earnings compared to the IN Consumer Durables industry average.
- Johnson Controls-Hitachi Air Conditioning India is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does
Johnson Controls-Hitachi Air Conditioning India's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 62.12x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts |
7.4%per year |
| India Consumer Durables Industry PEG Ratio | Median Figure of 12 Publicly-Listed Consumer Durables Companies | 2.27x |
| India Market PEG Ratio | Median Figure of 584 Publicly-Listed Companies | 1.33x |
*Line of best fit is calculated by linear regression .
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to calculate PEG ratio for Johnson Controls-Hitachi Air Conditioning India, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Johnson Controls-Hitachi Air Conditioning India's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in INR | ₹236.91 |
| BSE:523398 Share Price * | BSE (2019-04-18) in INR | ₹1922.2 |
| India Consumer Durables Industry PB Ratio | Median Figure of 47 Publicly-Listed Consumer Durables Companies | 1.79x |
| India Market PB Ratio | Median Figure of 3,626 Publicly-Listed Companies | 1.12x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = BSE:523398 Share Price ÷ Book Value per Share (both in INR) = 1922.2 ÷ 236.91 |
8.11x |
* Primary Listing of Johnson Controls-Hitachi Air Conditioning India.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Johnson Controls-Hitachi Air Conditioning India is overvalued based on assets compared to the IN Consumer Durables industry average.
Value checks
We assess Johnson Controls-Hitachi Air Conditioning India's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Consumer Durables industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Consumer Durables industry average (and greater than 0)? (1 check) Johnson Controls-Hitachi Air Conditioning India has a total score of 0/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
- No analysts cover Johnson Controls-Hitachi Air Conditioning India, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Johnson Controls-Hitachi Air Conditioning India's earnings growth is positive but not above the low risk savings rate of 7.6%.
Growth vs Market Checks
- Johnson Controls-Hitachi Air Conditioning India's earnings growth is positive but not above the India market average.
- Johnson Controls-Hitachi Air Conditioning India's revenue growth is expected to exceed the India market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NSEI:JCHAC Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts | 7.4% |
| NSEI:JCHAC Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts | 16.1% |
| India Consumer Durables Industry Earnings Growth Rate | Market Cap Weighted Average | 17.6% |
| India Consumer Durables Industry Revenue Growth Rate | Market Cap Weighted Average | 13.3% |
| India Market Earnings Growth Rate | Market Cap Weighted Average | 18.7% |
| India Market Revenue Growth Rate | Market Cap Weighted Average | 11.8% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 1 Analyst Estimates (S&P Global) | See Below |
| Date (Data in INR Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-03-31 | 31,267 | 1 | ||
| 2020-03-31 | 26,732 | 1 | ||
| 2019-03-31 | 22,757 | 1 |
| Date (Data in INR Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 22,036 | 841 | |
| 2018-09-30 | 21,461 | 899 | |
| 2018-06-30 | 21,167 | 893 | |
| 2018-03-31 | 21,854 | 972 | 1,002 |
| 2017-12-31 | 21,698 | 851 | |
| 2017-09-30 | 20,528 | 791 | |
| 2017-06-30 | 20,205 | 736 | |
| 2017-03-31 | 19,173 | 1,716 | 813 |
| 2016-12-31 | 18,232 | 691 | |
| 2016-09-30 | 18,462 | 778 | |
| 2016-06-30 | 18,059 | 725 | |
| 2016-03-31 | 16,405 | 615 | 500 |
*GAAP earnings excluding extraordinary items.
High Growth Checks
- Johnson Controls-Hitachi Air Conditioning India's earnings are expected to grow by 7.4% yearly, however this is not considered high growth (20% yearly).
- Johnson Controls-Hitachi Air Conditioning India's revenue is expected to grow by 16.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 1 Analyst Estimates (S&P Global) | See Below |
All data from Johnson Controls-Hitachi Air Conditioning India Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in INR Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-03-31 | ||||
| 2020-03-31 | ||||
| 2019-03-31 |
| Date (Data in INR Millions) | EPS * |
|---|---|
| 2018-12-31 | 30.94 |
| 2018-09-30 | 33.11 |
| 2018-06-30 | 32.82 |
| 2018-03-31 | 36.82 |
| 2017-12-31 | 31.31 |
| 2017-09-30 | 29.08 |
| 2017-06-30 | 26.98 |
| 2017-03-31 | 29.90 |
| 2016-12-31 | 25.39 |
| 2016-09-30 | 28.63 |
| 2016-06-30 | 26.65 |
| 2016-03-31 | 18.38 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- Johnson Controls-Hitachi Air Conditioning India is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
Future performance checks
We assess Johnson Controls-Hitachi Air Conditioning India's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Johnson Controls-Hitachi Air Conditioning India has a total score of 2/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has Johnson Controls-Hitachi Air Conditioning India performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Johnson Controls-Hitachi Air Conditioning India's year on year earnings growth rate has been positive over the past 5 years.
- Johnson Controls-Hitachi Air Conditioning India's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Johnson Controls-Hitachi Air Conditioning India's 1-year earnings growth is negative, it can't be compared to the IN Consumer Durables industry average.
Earnings and Revenue History
All data from Johnson Controls-Hitachi Air Conditioning India Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in INR Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 22,035.90 | 841.10 | 2,680.50 | |
| 2018-09-30 | 21,461.00 | 899.20 | 2,628.20 | |
| 2018-06-30 | 21,166.60 | 892.50 | 2,567.50 | |
| 2018-03-31 | 21,853.90 | 1,001.50 | 2,513.80 | |
| 2017-12-31 | 21,697.69 | 851.12 | 2,697.92 | |
| 2017-09-30 | 20,528.15 | 790.81 | 2,639.09 | |
| 2017-06-30 | 20,204.61 | 735.98 | 2,598.72 | |
| 2017-03-31 | 19,173.00 | 813.30 | 2,129.30 | |
| 2016-12-31 | 18,232.17 | 690.56 | 2,554.86 | |
| 2016-09-30 | 18,462.36 | 778.41 | 2,514.71 | |
| 2016-06-30 | 18,059.26 | 724.69 | 2,506.25 | |
| 2016-03-31 | 16,405.36 | 499.77 | 2,082.42 | |
| 2015-12-31 | 17,377.83 | 606.67 | 3,739.10 | |
| 2015-09-30 | 16,775.65 | 614.54 | 3,724.27 | |
| 2015-06-30 | 16,806.39 | 812.65 | 3,718.05 | |
| 2015-03-31 | 15,752.02 | 777.63 | 2,398.37 | |
| 2014-12-31 | 13,914.23 | 620.51 | 2,681.76 | |
| 2014-09-30 | 13,181.35 | 530.36 | 2,624.48 | |
| 2014-06-30 | 12,269.20 | 368.42 | 2,544.66 | |
| 2014-03-31 | 10,997.26 | 80.49 | 2,484.89 | |
| 2013-12-31 | 10,536.96 | 74.99 | 2,221.20 | |
| 2013-09-30 | 10,468.52 | 85.20 | 2,188.97 | |
| 2013-06-30 | 10,253.32 | 159.20 | 2,162.85 | |
| 2013-03-31 | 9,299.92 | 153.03 | 2,076.08 | |
| 2012-12-31 | 8,964.09 | 148.74 | 1,934.58 | |
| 2012-09-30 | 8,594.97 | 113.10 | 1,910.60 | |
| 2012-06-30 | 8,468.87 | 37.55 | 1,892.93 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Johnson Controls-Hitachi Air Conditioning India has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Johnson Controls-Hitachi Air Conditioning India used its assets more efficiently than the IN Consumer Durables industry average last year based on Return on Assets.
- Johnson Controls-Hitachi Air Conditioning India's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Johnson Controls-Hitachi Air Conditioning India's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Consumer Durables industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Johnson Controls-Hitachi Air Conditioning India has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
How is Johnson Controls-Hitachi Air Conditioning India's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Johnson Controls-Hitachi Air Conditioning India's finances.
The net worth of a company is the difference between its assets and liabilities.
- Johnson Controls-Hitachi Air Conditioning India is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Johnson Controls-Hitachi Air Conditioning India's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Johnson Controls-Hitachi Air Conditioning India has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Johnson Controls-Hitachi Air Conditioning India Company Filings, last reported 3 months ago.
| Date (Data in INR Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 5,804.30 | 0.00 | 2,164.00 |
| 2018-09-30 | 5,804.30 | 0.00 | 2,164.00 |
| 2018-06-30 | 5,352.00 | 126.60 | 354.90 |
| 2018-03-31 | 5,352.00 | 126.60 | 354.90 |
| 2017-12-31 | 4,969.23 | 0.00 | 884.91 |
| 2017-09-30 | 4,969.23 | 0.00 | 884.91 |
| 2017-06-30 | 4,389.94 | 600.00 | 236.17 |
| 2017-03-31 | 4,402.30 | 595.20 | 233.00 |
| 2016-12-31 | 4,216.09 | 19.07 | 433.07 |
| 2016-09-30 | 4,216.09 | 19.07 | 433.07 |
| 2016-06-30 | 3,579.49 | 1,603.93 | 49.90 |
| 2016-03-31 | 3,579.49 | 1,603.93 | 41.57 |
| 2015-12-31 | 3,486.77 | 876.62 | 25.85 |
| 2015-09-30 | 3,486.77 | 876.62 | 25.85 |
| 2015-06-30 | 3,128.81 | 1,395.48 | 61.65 |
| 2015-03-31 | 3,128.81 | 1,395.48 | 61.65 |
| 2014-12-31 | 2,921.33 | 276.00 | 387.26 |
| 2014-09-30 | 2,921.33 | 276.00 | 387.26 |
| 2014-06-30 | 2,400.27 | 1,249.31 | 228.82 |
| 2014-03-31 | 2,400.27 | 1,249.31 | 228.82 |
| 2013-12-31 | 2,438.68 | 591.90 | 508.49 |
| 2013-09-30 | 2,438.68 | 591.90 | 508.49 |
| 2013-06-30 | 2,364.16 | 1,659.09 | 729.53 |
| 2013-03-31 | 2,364.16 | 1,659.09 | 729.53 |
| 2012-12-31 | 1,851.19 | 519.44 | 291.74 |
| 2012-09-30 | 1,851.19 | 519.44 | 291.74 |
| 2012-06-30 | 1,712.16 | 991.65 | 30.77 |
- Johnson Controls-Hitachi Air Conditioning India has no debt.
- Johnson Controls-Hitachi Air Conditioning India has no debt compared to 5 years ago when it was 24.6%.
- Johnson Controls-Hitachi Air Conditioning India has no debt, it does not need to be covered by operating cash flow.
- Johnson Controls-Hitachi Air Conditioning India has no debt, therefore coverage of interest payments is not a concern.
Financial health checks
We assess Johnson Controls-Hitachi Air Conditioning India's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Johnson Controls-Hitachi Air Conditioning India has a total score of 6/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
₹2,000 of
Johnson Controls-Hitachi Air Conditioning India
shares you are expected to receive
₹2
in your first year as a dividend.
Dividend Amount
- Johnson Controls-Hitachi Air Conditioning India's pays a lower dividend yield than the bottom 25% of dividend payers in India (0.49%).
- Johnson Controls-Hitachi Air Conditioning India's dividend is below the markets top 25% of dividend payers in India (1.92%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 1 Analyst Estimates (S&P Global) | See Below |
| India Consumer Durables Industry Average Dividend Yield | Market Cap Weighted Average of 21 Stocks | 0.5% |
| India Market Average Dividend Yield | Market Cap Weighted Average of 1399 Stocks | 1.3% |
| India Minimum Threshold Dividend Yield | 10th Percentile | 0.3% |
| India Bottom 25% Dividend Yield | 25th Percentile | 0.5% |
| India Top 25% Dividend Yield | 75th Percentile | 1.9% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in ₹) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2021-03-31 | ||
| 2020-03-31 | ||
| 2019-03-31 |
| Date (Data in ₹) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2018-05-23 | 1.500 | 0.078 |
| 2017-05-23 | 1.500 | 0.066 |
| 2016-07-12 | 1.500 | 0.101 |
| 2016-05-30 | 1.500 | 0.115 |
| 2015-05-29 | 1.500 | 0.113 |
| 2014-06-25 | 1.500 | 0.221 |
| 2014-05-26 | 1.500 | 0.615 |
| 2013-06-24 | 1.500 | 1.139 |
| 2012-08-09 | 1.500 | 1.128 |
| 2011-05-24 | 1.500 | 1.092 |
| 2011-05-23 | 1.500 | 0.803 |
| 2010-06-21 | 1.500 | 0.610 |
| 2010-05-24 | 1.500 | 0.510 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Johnson Controls-Hitachi Air Conditioning India is not paying a notable dividend for India, therefore no need to check if the payments are stable.
- Johnson Controls-Hitachi Air Conditioning India is not paying a notable dividend for India, therefore no need to check if the payments are increasing.
Income/ dividend checks
We assess Johnson Controls-Hitachi Air Conditioning India's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Johnson Controls-Hitachi Air Conditioning India afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Johnson Controls-Hitachi Air Conditioning India has a total score of 0/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | ₹14,300,000 |
| AGE | 53 |
| TENURE AS CEO | 2.2 years |
CEO Bio
Mr. Gurmeet Singh has been Chairman of Johnson Controls-Hitachi Air Conditioning India Limited (Formerly known as Hitachi Home and Life Solutions (India) Limited) since January 30, 2018, and has been its Managing Director since February 01, 2017 and has also been its Executive Director since July 21, 2014. Mr. Singh served as Vice President and Head of Business Planning at Hitachi Home & Life Solutions India Ltd. Mr. Singh employed at Mirc Electronics Ltd. and has 22 years of experience. He holds a B.Sc. and Diploma in Marketing Management.
CEO Compensation
- Gurmeet's compensation has increased by more than 20% in the past year.
- Gurmeet's remuneration is lower than average for companies of similar size in India.
Management Team
Gurmeet Singh
Chairman & MD
₹14M
53
2.2 yrs
Rishi Mehta
Chief Financial Officer
₹5M
1.3 yrs
Parag Dave
Compliance Officer & Company Secretary
₹2M
Sanjay Kumar
BR Head & VP of Human Resources
Board of Directors Tenure
Average tenure and age of the Johnson Controls-Hitachi Air Conditioning India board of directors in years:
- The tenure for the Johnson Controls-Hitachi Air Conditioning India board of directors is about average.
Board of Directors
Gurmeet Singh
Chairman & MD
₹14M
53
1.3 yrs
Mukesh Patel
Independent Non-Executive Director
₹400K
64
16.1 yrs
Ashok Balwani
Independent Non-Executive Director
₹400K
67
10.8 yrs
Indira Parikh
Independent Director
₹100K
4.4 yrs
Franz Cerwinka
Non-Executive Non-Independent Director
2.9 yrs
Yoshikazu Ishihara
Director
1.3 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (₹) | Value (₹) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess Johnson Controls-Hitachi Air Conditioning India's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Johnson Controls-Hitachi Air Conditioning India has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
The Johnson Controls-Hitachi Air Conditioning India (NSE:JCHAC) Share Price Is Up 1012% And Shareholders Are Euphoric
For example, the Johnson Controls-Hitachi Air Conditioning India Limited (NSE:JCHAC) share price is up a whopping 1012% in the last half decade, a handsome return for long term holders. … Check out our latest analysis for Johnson Controls-Hitachi Air Conditioning India. … Over half a decade, Johnson Controls-Hitachi Air Conditioning India managed to grow its earnings per share at 60% a year.
Simply Wall St - – Full articleWith A Return On Equity Of 14%, Has Johnson Controls-Hitachi Air Conditioning India Limited's (NSE:JCHAC) Management Done Well?
To keep the lesson grounded in practicality, we'll use ROE to better understand Johnson Controls-Hitachi Air Conditioning India Limited (NSE:JCHAC). … Johnson Controls-Hitachi Air Conditioning India has a ROE of 14%, based on the last twelve months. … See our latest analysis for Johnson Controls-Hitachi Air Conditioning India?
Simply Wall St - – Full articleJohnson Controls-Hitachi Air Conditioning India Limited (NSE:JCHAC): How Much Money Comes Back To Investors?
Johnson Controls-Hitachi Air Conditioning India Limited (NSE:JCHAC) shareholders, and potential investors, need to understand how much cash the business makes from its core operational activities, as well as how much is invested back into the business. … Today we will examine Johnson Controls-Hitachi Air Conditioning India’s ability to generate cash flows, as well as the level of capital expenditure it is expected to incur over the next couple of years, which will result in how much money goes to you. … Johnson Controls-Hitachi Air Conditioning India generates cash through its day-to-day business, which needs to be reinvested into the company in order for it to continue operating
Simply Wall St - – Full articleDon't Sell Johnson Controls-Hitachi Air Conditioning India Limited (NSE:JCHAC) Before You Read This
We'll look at Johnson Controls-Hitachi Air Conditioning India Limited's (NSE:JCHAC) P/E ratio and reflect on what it tells us about the company's share price. … Johnson Controls-Hitachi Air Conditioning India has a P/E ratio of 54.51, based on the last twelve months. … How Do I Calculate Johnson Controls-Hitachi Air Conditioning India's Price To Earnings Ratio
Simply Wall St - – Full articleA Close Look At Johnson Controls-Hitachi Air Conditioning India Limited’s (NSE:JCHAC) 21% ROCE
To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Return On Capital Employed (ROCE): What is it? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.
Simply Wall St - – Full articleWas Johnson Controls-Hitachi Air Conditioning India Limited's (NSE:JCHAC) Earnings Growth Better Than The Industry's?
Understanding Johnson Controls-Hitachi Air Conditioning India Limited's (NSE:JCHAC) performance as a company requires examining more than earnings from one point in time. … Today I will take you through a basic sense check to gain perspective on how Johnson Controls-Hitachi Air Conditioning India is doing by evaluating its latest earnings with its longer term trend as well as its industry peers' performance over the same period. … View our latest analysis for Johnson Controls-Hitachi Air Conditioning India?
Simply Wall St - – Full articleWhy Johnson Controls-Hitachi Air Conditioning India Limited (NSE:JCHAC) Could Be Worth Watching
Johnson Controls-Hitachi Air Conditioning India Limited (NSE:JCHAC), which is in the consumer durables business, and is based in India,. … As a small cap stock, hardly covered by any analysts, there is generally more of an opportunity for mispricing as there is less activity to push the stock closer to fair value? … Let’s take a look at Johnson Controls-Hitachi Air Conditioning India’s outlook and value based on the most recent financial data to see if the opportunity still exists
Simply Wall St - – Full articleJohnson Controls-Hitachi Air Conditioning India Limited (NSE:JCHAC) Has Attractive Fundamentals
Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Johnson Controls-Hitachi Air Conditioning India Limited (NSE:JCHAC) due to its excellent fundamentals in more than one area.
Simply Wall St - – Full articleIs Johnson Controls-Hitachi Air Conditioning India Limited's (NSE:JCHAC) Balance Sheet A Threat To Its Future?
Johnson Controls-Hitachi Air Conditioning India Limited (NSE:JCHAC), which has zero-debt on its balance sheet, can maximize capital returns by increasing debt due to its lower cost of capital. … Is JCHAC right in choosing financial flexibility over lower cost of capital. … There are well-known benefits of including debt in capital structure, primarily a lower cost of capital
Simply Wall St - – Full articleIs Johnson Controls-Hitachi Air Conditioning India Limited (NSE:JCHAC) A High Quality Stock To Own?
By way of learning-by-doing, we'll look at ROE to gain a better understanding Johnson Controls-Hitachi Air Conditioning India Limited (NSE:JCHAC). … Our data shows Johnson Controls-Hitachi Air Conditioning India has a return on equity of 17% for the last year. … See our latest analysis for Johnson Controls-Hitachi Air Conditioning India?
Simply Wall St - – Full articleCompany Info
Description
Johnson Controls-Hitachi Air Conditioning India Limited manufactures, markets, and trades in air conditioners, refrigerators, washing machines, air purifiers, chillers, and variable refrigerant flow systems in India. The company offers window and split air conditioners; ductable and ductless, cassette, and self-contained air conditioners; water and air cooled screw chillers, and centrifugal chillers; and space makers. It also provides side by side and slim line refrigerators; and front load washing machines. Its distribution network consists of 5 regional offices, 20 branch offices, 203 exclusive sales and service dealers, and approximately 8,000 sales points and 1,235 service points; and 40 company owned service centers and 600 other service points, including Multi brand S&S dealers and franchisees. The company also exports its products to Sri Lanka, Indonesia, Bangladesh, Nepal, the Middle East, and the United Arab Emirates. The company was formerly known as Hitachi Home & Life Solutions (India) Limited and changed its name to Johnson Controls-Hitachi Air Conditioning India Limited in September 2016. The company was founded in 1984 and is headquartered in Kadi, India. Johnson Controls-Hitachi Air Conditioning India Limited is a subsidiary of JCHAC India Holdco Limited.
Details
| Name: | Johnson Controls-Hitachi Air Conditioning India Limited |
| JCHAC | |
| Exchange: | NSEI |
| Founded: | 1984 |
| ₹52,807,415,816 | |
| 27,190,884 | |
| Website: | http://www.hitachiaircon.in |
| Address: |
Johnson Controls-Hitachi Air Conditioning India Limited Hitachi Complex, Karan Nagar, Kadi, Gujarat, 382727, India |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| BSE | 523398 | Equity Shares | Mumbai Stock Exchange | IN | INR | 04. Oct 1996 | |
| NSEI | JCHAC | Equity Shares | National Stock Exchange of India | IN | INR | 04. Oct 1996 |
Number of employees
Current staff
Industry
| Household Appliances | |
| Consumer Durables |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/18 12:49 |
| End of day share price update: | 2019/04/18 00:00 |
| Last estimates confirmation: | 2019/03/26 |
| Last earnings filing: | 2019/01/29 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/03/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
