Carrier boasts a longstanding legacy in India that traces its roots back to 1936, marking the installation of the nation’s inaugural air-conditioning system at the illustrious Rambagh Palace in Jaipur. A milestone was achieved in 1986 when Carrier India was officially established, followed by the launch of its premier manufacturing unit in Gurgaon, Haryana in 1988.
| P&L Statement | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Revenue | 1218 | 1612 | 2197 | 2131 |
| Cost of Material Consumed | 666 | 1087 | 1502 | 1363 |
| Gross Margins | 45.32 | 32.57 | 31.63 | 36.04 |
| Change in Inventory | 50 | -66 | -28 | -45 |
| Employee Benefit Expenses | 152 | 166 | 169 | 177 |
| Other Expenses | 309 | 362 | 413 | 461 |
| EBITDA | 41 | 63 | 141 | 175 |
| OPM | 3.37 | 3.91 | 6.42 | 8.21 |
| Other Income | 23 | 20 | 24 | 47 |
| Finance Cost | 10 | 3 | 2 | 2 |
| D&A | 20 | 23 | 21 | 25 |
| EBIT | 21 | 40 | 120 | 150 |
| EBIT Margins | 1.72 | 2.48 | 5.46 | 7.04 |
| PBT | 33 | 57 | 142 | 195 |
| PBT Margins | 2.71 | 3.54 | 6.46 | 9.15 |
| Tax (2021) | 16 | 15 | 32 | 44 |
| PAT | 17 | 42 | 110 | 151 |
| NPM | 1.4 | 2.61 | 5.01 | 7.09 |
| EPS | 1.6 | 3.95 | 10.38 | 14.21 |
| Financial Ratios | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Operating Profit Margin | 3.37 | 3.91 | 6.42 | 8.21 |
| Net Profit Margin | 4 | 2.61 | 5.01 | 7.09 |
| Earning Per Share (Diluted) | 1.6 | 3.95 | 10.38 | 14.21 |
| Assets | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Fixed Assets | 2093 | 68 | 65 | 84 |
| CWIP | 4 | 0.6 | 9 | 5 |
| Investments | 0 | 0 | 0 | 0 |
| Trade Receivables | 274 | 257 | 324 | 332 |
| Inventory | 251 | 337 | 344 | 379 |
| Other Assets | 175 | 249.4 | 395 | 683 |
| Total Assets | 777 | 912 | 1137 | 1483 |
| Liabilities | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Share Capital | 106.3 | 106.3 | 106 | 106.3 |
| FV | 10 | 10 | 10 | 10 |
| Reserves | 131 | 166 | 266 | 403 |
| Borrowings | 0 | 0 | 0 | 0 |
| Trade Payables | 372 | 431 | 529 | 687 |
| Other Liabilities | 167.7 | 208.7 | 236 | 286.7 |
| Total Liabilities | 777 | 912 | 1137 | 148 |
| Cash-Flow Statement | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| PBT | 33 | 57 | 142 | 200 |
| OPBWC | 47 | 76 | 160 | 211 |
| Change in Receivables | 6 | 19 | -63 | -36 |
| Change in Inventories | 45 | -89 | -14 | -52 |
| Change in Payables | 59 | 68 | 107 | 198 |
| Other Changes | -9 | 17 | 12 | 15 |
| Working Capital Change | 101 | 15 | 42 | 125 |
| Cash Generated From Operations | 148 | 91 | 202 | 336 |
| Tax | -13 | -15 | -40 | -63 |
| Cash Flow From Operations | 135 | 76 | 162 | 273 |
| Purchase of PPE | -14 | -9.6 | -13 | -36 |
| Sale of PPE | 5.7 | 0.3 | 0 | 0 |
| Cash Flow From Investment | -8.3 | -9 | -8 | -21.6 |
| Borrowing | -153 | 0 | 0 | 0 |
| Divided | 0 | -5.7 | -10 | -10.7 |
| Equity | 0 | 0 | 0 | 0 |
| Others From Financing | -9 | -9.8 | -10 | -10.9 |
| Cash Flow from Financing | -162 | -15.5 | -20 | -21.6 |
| Net Cash Generated | 35.3 | 51.5 | 134 | 229.8 |
| Cash at the Start | 49 | 13 | 65 | 198.2 |
| Cash at the End | 13.7 | 64.5 | 199 | 428 |
| Shareholding Pattern | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Carrier Corporation, Delaware | 96.50% | 96.50% | 96.50% | 96.50% |
| Others | 3.50% | 3.50% | 3.50% | 3.50% |
