Johnson Controls Hits 20% Upper Circuit on Strong Q4FY24 Results

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Johnson Controls - Hitachi Air Conditioning India shares hit a 20% upper circuit, reaching a 52-week high of Rs 1,486 on May 24.

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The company posted a profit of Rs 48 crore in Q4FY24, a significant improvement from a loss of Rs 1 crore in Q4FY23.

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Revenue surged 50% year-on-year to Rs 771 crore in Q4FY24, compared to Rs 547 crore in the same period last year.

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Johnson Controls' stock outperformed the market, rising over 33% this year, while the Nifty 50 index gained only 5%.

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The company trades at a price-to-book ratio of 5.11x, lower than peers Voltas, Bluestar, and Amber Enterprises.

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