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Johnson Controls-Hitachi Air Conditioning India

NSEI:JCHAC
Snowflake Description

Flawless balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
JCHAC
NSEI
₹47B
Market Cap
  1. Home
  2. IN
  3. Consumer Durables
Company 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 last earnings update was 21 days ago. More info.


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JCHAC Share Price and Events
7 Day Returns
-0.7%
NSEI:JCHAC
-4.4%
IN Consumer Durables
-2.1%
IN Market
1 Year Returns
-25.9%
NSEI:JCHAC
-21.2%
IN Consumer Durables
-8.6%
IN Market
JCHAC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Johnson Controls-Hitachi Air Conditioning India (JCHAC) -0.7% -5.5% -1.5% -25.9% 60.7% 1112.5%
IN Consumer Durables -4.4% -8.5% -4% -21.2% 62% 292.5%
IN Market -2.1% -4.5% -3.5% -8.6% 40.3% 78.7%
1 Year Return vs Industry and Market
  • JCHAC underperformed the Consumer Durables industry which returned -21.2% over the past year.
  • JCHAC underperformed the Market in India which returned -8.6% over the past year.
Price Volatility
JCHAC
Industry
5yr Volatility vs Market

Value

 Is Johnson Controls-Hitachi Air Conditioning India undervalued based on future cash flows and its price relative to the stock market?

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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Johnson Controls-Hitachi Air Conditioning India.

NSEI:JCHAC Discounted Cash Flow Data Sources
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 13.5%
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.

Calculation of Discount Rate/ Cost of Equity for NSEI:JCHAC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 7.5%
Consumer Durables Unlevered Beta Simply Wall St/ S&P Global 0.61
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.614 (1 + (1- 35%) (0%))
0.614
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (0.8 * 7.45%)
13.51%

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 use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

NSEI:JCHAC DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (INR, Millions) 701.00 796.00 899.22 1,015.81 1,147.53
Source Analyst x1 Analyst x1 Est @ 12.97% Est @ 12.97% Est @ 12.97%
Present Value
Discounted (@ 13.51%)
617.57 617.80 614.84 611.90 608.97
Present value of next 5 years cash flows ₹3,071.07
NSEI:JCHAC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= ₹1,147.53 × (1 + 7.55%) ÷ (13.51% – 7.55%)
₹20,707.58
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= ₹20,707.58 ÷ (1 + 13.51%)5
₹10,989.01
NSEI:JCHAC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= ₹3,071.07 + ₹10,989.01
₹14,060.08
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹14,060.08 / 27.19
₹508.96
NSEI:JCHAC Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in NSEI:JCHAC represents 0.98429x of BSE:523398
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.98429x
Value per Share
(Listing Adjusted, INR)
= Value per Share (INR) x Listing Adjustment Factor
= ₹ 517.09 x 0.98429
₹508.96
Value per share (INR) From above. ₹508.96
Current discount Discount to share price of ₹1,692.00
= -1 x (₹1,692.00 - ₹508.96) / ₹508.96
-232.4%

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.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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?
Raw Data
NSEI:JCHAC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in INR ₹30.94
BSE:523398 Share Price ** BSE (2019-02-19) in INR ₹1719
India Consumer Durables Industry PE Ratio Median Figure of 42 Publicly-Listed Consumer Durables Companies 27.33x
India Market PE Ratio Median Figure of 2,715 Publicly-Listed Companies 15.16x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Johnson Controls-Hitachi Air Conditioning India.

NSEI:JCHAC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:523398 Share Price ÷ EPS (both in INR)

= 1719 ÷ 30.94

55.56x

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?
Raw Data
NSEI:JCHAC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 55.56x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
49.7%per year
India Consumer Durables Industry PEG Ratio Median Figure of 11 Publicly-Listed Consumer Durables Companies 1.69x
India Market PEG Ratio Median Figure of 606 Publicly-Listed Companies 1.1x

*Line of best fit is calculated by linear regression .

NSEI:JCHAC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 55.56x ÷ 49.7%

1.12x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Johnson Controls-Hitachi Air Conditioning India is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Johnson Controls-Hitachi Air Conditioning India's assets?
Raw Data
NSEI:JCHAC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in INR ₹236.91
BSE:523398 Share Price * BSE (2019-02-19) in INR ₹1719
India Consumer Durables Industry PB Ratio Median Figure of 47 Publicly-Listed Consumer Durables Companies 1.84x
India Market PB Ratio Median Figure of 3,587 Publicly-Listed Companies 1.04x
NSEI:JCHAC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:523398 Share Price ÷ Book Value per Share (both in INR)

= 1719 ÷ 236.91

7.26x

* 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.
X
Value checks
We assess Johnson Controls-Hitachi Air Conditioning India's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the Consumer Durables industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Consumer Durables industry average (and greater than 0)? (1 check)
  5. 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

 How is Johnson Controls-Hitachi Air Conditioning India expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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!
Annual Growth Rate
49.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Johnson Controls-Hitachi Air Conditioning India expected to grow at an attractive rate?
  • Johnson Controls-Hitachi Air Conditioning India's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • Johnson Controls-Hitachi Air Conditioning India's earnings growth is expected to exceed 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
Raw Data
NSEI:JCHAC Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:JCHAC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 49.7%
NSEI:JCHAC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 16.8%
India Consumer Durables Industry Earnings Growth Rate Market Cap Weighted Average 19.7%
India Consumer Durables Industry Revenue Growth Rate Market Cap Weighted Average 13.1%
India Market Earnings Growth Rate Market Cap Weighted Average 18.5%
India Market Revenue Growth Rate Market Cap Weighted Average 11.7%

*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
Raw Data
NSEI:JCHAC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:JCHAC Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-03-31 27,167 1,496 1,663 1
2019-03-31 23,230 1,401 1,173 1
NSEI:JCHAC Past Financials Data
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.

Super high growth metrics
High Growth Checks
  • Johnson Controls-Hitachi Air Conditioning India's earnings are expected to grow significantly at over 20% yearly.
  • Johnson Controls-Hitachi Air Conditioning India's revenue is expected to grow by 16.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:JCHAC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month 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 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:JCHAC Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-03-31 61.20 61.20 61.20 1.00
2019-03-31 43.10 43.10 43.10 1.00
NSEI:JCHAC Past Financials Data
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.
  • Unable to establish if Johnson Controls-Hitachi Air Conditioning India will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Johnson Controls-Hitachi Air Conditioning India's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Johnson Controls-Hitachi Air Conditioning India has a total score of 4/6, 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
Below we compare Johnson Controls-Hitachi Air Conditioning India's growth in the last year to its industry (Consumer Durables).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • 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
Johnson Controls-Hitachi Air Conditioning India's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Johnson Controls-Hitachi Air Conditioning India Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:JCHAC Past Revenue, Cash Flow and Net Income Data
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
2012-03-31 7,980.89 32.62 1,881.62

*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).
X
Past performance checks
We assess Johnson Controls-Hitachi Air Conditioning India's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Consumer Durables industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
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.
Net Worth
  • 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
This treemap shows a more detailed breakdown of Johnson Controls-Hitachi Air Conditioning India's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • 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.
Raw Data

All data from Johnson Controls-Hitachi Air Conditioning India Company Filings, last reported 1 month ago.

NSEI:JCHAC Past Debt and Equity Data
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
2012-03-31 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.
X
Financial health checks
We assess Johnson Controls-Hitachi Air Conditioning India's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Johnson Controls-Hitachi Air Conditioning India has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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

 What is Johnson Controls-Hitachi Air Conditioning India's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.09%
Current annual income from Johnson Controls-Hitachi Air Conditioning India dividends.
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
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Johnson Controls-Hitachi Air Conditioning India's pays a lower dividend yield than the bottom 25% of dividend payers in India (0.56%).
  • Johnson Controls-Hitachi Air Conditioning India's dividend is below the markets top 25% of dividend payers in India (2.12%).
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.
Raw Data
NSEI:JCHAC Annualized Past and Future Dividends
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 0.6%
India Market Average Dividend Yield Market Cap Weighted Average of 1397 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.6%
India Top 25% Dividend Yield 75th Percentile 2.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:JCHAC Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2020-03-31
2019-03-31
NSEI:JCHAC Past Annualized Dividends Data
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.
Current Payout to shareholders
What portion of Johnson Controls-Hitachi Air Conditioning India's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Johnson Controls-Hitachi Air Conditioning India's dividends as it is not paying a notable one for India.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Johnson Controls-Hitachi Air Conditioning India's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. 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)
  7. 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

 What is the CEO of Johnson Controls-Hitachi Air Conditioning India's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Gurmeet Singh
COMPENSATION ₹14,300,000
AGE 53
TENURE AS CEO 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

TITLE
Chairman & MD
COMPENSATION
₹14M
AGE
53
TENURE
2 yrs

Rishi Mehta

TITLE
Chief Financial Officer
COMPENSATION
₹5M
TENURE
1.1 yrs

Parag Dave

TITLE
Compliance Officer & Company Secretary
COMPENSATION
₹2M

Sanjay Kumar

TITLE
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:

3.5
Average Tenure
64
Average Age
  • The tenure for the Johnson Controls-Hitachi Air Conditioning India board of directors is about average.
Board of Directors

Gurmeet Singh

TITLE
Chairman & MD
COMPENSATION
₹14M
AGE
53
TENURE
1.1 yrs

Mukesh Patel

TITLE
Independent Non-Executive Director
COMPENSATION
₹400K
AGE
64
TENURE
15.9 yrs

Ashok Balwani

TITLE
Independent Non-Executive Director
COMPENSATION
₹400K
AGE
67
TENURE
10.6 yrs

Indira Parikh

TITLE
Independent Director
COMPENSATION
₹100K
TENURE
4.3 yrs

Franz Cerwinka

TITLE
Non-Executive Non-Independent Director
TENURE
2.8 yrs

Yoshikazu Ishihara

TITLE
Director
TENURE
1.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
X
Management checks
We assess Johnson Controls-Hitachi Air Conditioning India's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. 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

Johnson 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 -

Don'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 -

A 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 -

Was 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 -

Why 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 -

Johnson 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 -

Is 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 -

Is 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 -

Is Johnson Controls-Hitachi Air Conditioning India Limited (NSE:JCHAC) Still A Cheap Retail Stock?

is a retail company operating in an industry. … impacted by the digital transformation for all retail channels, and the challenging economic environment … In particular, physical store retailers faced the inevitable challenge of building up an online presence in order to enhance their omnichannel capabilities

Simply Wall St -

Why You Should Look Beyond Johnson Controls - Hitachi Air Conditioning India Limited's (NSE:JCHAC) Growth

Johnson Controls - Hitachi Air Conditioning India Limited (NSE:JCHAC) continues to post impressive revenue growth and its prospects have never been brighter. … Johnson Controls - Hitachi Air Conditioning India Limited manufactures, sells, and trades in air conditioners, refrigerators, washing machines, air purifiers, chillers, and variable refrigerant flow systems in India. … Since starting in 1984 in India, the company has now grown to a market cap of ₹59.55b.

Simply Wall St -

Company Info

Map
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
₹46,597,017,910
27,190,884
Website: http://www.jci-hitachi.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
Staff numbers
1,481
Johnson Controls-Hitachi Air Conditioning India employees.
Industry
Household Appliances
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/19 13:03
End of day share price update: 2019/02/19 00:00
Last estimates confirmation: 2019/02/04
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.