Blue Star Ltd
Blue star manufacturers air purifiers, air coolers, water purifiers, cold storage and speciality products. The Company offers turnkey solutions in MEP (Mechanical, Electrical, Plumbing, and Fire-fighting) Projects. It is the largest after-sales service provider for air conditioning and commercial refrigeration products in the country. [1] [2]
- Market Cap ₹ 43,928 Cr.
- Current Price ₹ 2,136
- High / Low ₹ 2,420 / 1,265
- Stock P/E 93.2
- Book Value ₹ 126
- Dividend Yield 0.33 %
- ROCE 23.6 %
- ROE 19.5 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company has delivered good profit growth of 21.3% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 48.7%
Cons
- Stock is trading at 16.9 times its book value
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Consumer Durables Industry: Air-conditioners
Part of BSE Allcap BSE SmallCap BSE 400 MidSmallCap Index Nifty Alpha 50 BSE Consumer Durables
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2,767 | 2,790 | 3,081 | 3,530 | 4,110 | 4,303 | 4,784 | 4,786 | 3,842 | 5,395 | 7,353 | 8,999 | 10,644 | |
2,668 | 2,639 | 2,906 | 3,340 | 3,909 | 4,072 | 4,485 | 4,571 | 3,650 | 5,104 | 6,904 | 8,415 | 9,928 | |
Operating Profit | 99 | 151 | 174 | 190 | 200 | 231 | 299 | 215 | 192 | 292 | 449 | 584 | 716 |
OPM % | 4% | 5% | 6% | 5% | 5% | 5% | 6% | 4% | 5% | 5% | 6% | 6% | 7% |
37 | 10 | 51 | 54 | 34 | 33 | -5 | 69 | 62 | 36 | 194 | 39 | 52 | |
Interest | 50 | 50 | 43 | 36 | 31 | 23 | 45 | 32 | 68 | 51 | 58 | 56 | 45 |
Depreciation | 33 | 35 | 39 | 55 | 55 | 61 | 69 | 84 | 88 | 80 | 80 | 75 | 92 |
Profit before tax | 53 | 76 | 143 | 153 | 148 | 181 | 180 | 168 | 98 | 196 | 505 | 492 | 631 |
Tax % | 2% | 0% | -7% | 17% | 24% | 27% | 32% | 28% | 33% | 35% | 27% | 25% | |
52 | 76 | 153 | 127 | 112 | 132 | 122 | 121 | 66 | 128 | 367 | 368 | 471 | |
EPS in Rs | 2.88 | 4.22 | 8.48 | 7.05 | 5.86 | 6.89 | 6.32 | 6.28 | 3.42 | 6.63 | 19.03 | 17.87 | 22.91 |
Dividend Payout % | 52% | 47% | 29% | 46% | 64% | 73% | 79% | 80% | 58% | 75% | 32% | 39% |
Compounded Sales Growth | |
---|---|
10 Years: | 12% |
5 Years: | 13% |
3 Years: | 33% |
TTM: | 28% |
Compounded Profit Growth | |
---|---|
10 Years: | 15% |
5 Years: | 21% |
3 Years: | 109% |
TTM: | 48% |
Stock Price CAGR | |
---|---|
10 Years: | 30% |
5 Years: | 55% |
3 Years: | 60% |
1 Year: | 68% |
Return on Equity | |
---|---|
10 Years: | 15% |
5 Years: | 16% |
3 Years: | 19% |
Last Year: | 19% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 18 | 18 | 18 | 18 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 41 | 41 |
Reserves | 476 | 512 | 607 | 783 | 899 | 929 | 942 | 830 | 900 | 989 | 1,259 | 2,470 | 2,555 |
373 | 447 | 332 | 286 | 149 | 319 | 364 | 558 | 631 | 611 | 564 | 312 | 419 | |
1,233 | 1,275 | 1,236 | 1,446 | 1,553 | 1,931 | 1,914 | 1,906 | 1,930 | 2,423 | 3,003 | 3,344 | 2,927 | |
Total Liabilities | 2,100 | 2,251 | 2,193 | 2,533 | 2,620 | 3,199 | 3,240 | 3,314 | 3,480 | 4,042 | 4,846 | 6,168 | 5,942 |
223 | 215 | 218 | 231 | 319 | 347 | 359 | 406 | 345 | 377 | 560 | 764 | 841 | |
CWIP | 8 | 15 | 22 | 16 | 34 | 25 | 41 | 68 | 58 | 117 | 53 | 45 | 25 |
Investments | 121 | 121 | 232 | 435 | 215 | 220 | 221 | 221 | 500 | 392 | 450 | 957 | 978 |
1,748 | 1,899 | 1,721 | 1,850 | 2,052 | 2,606 | 2,618 | 2,619 | 2,577 | 3,155 | 3,783 | 4,402 | 4,099 | |
Total Assets | 2,100 | 2,251 | 2,193 | 2,533 | 2,620 | 3,199 | 3,240 | 3,314 | 3,480 | 4,042 | 4,846 | 6,168 | 5,942 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
40 | 84 | 192 | 271 | 129 | -29 | 147 | 392 | 308 | 59 | 304 | 247 | |
-18 | -24 | -20 | -73 | 73 | -66 | -73 | -58 | -246 | -7 | -86 | -699 | |
-61 | -8 | -199 | -194 | -215 | 73 | -105 | -138 | 15 | -147 | -248 | 539 | |
Net Cash Flow | -40 | 52 | -27 | 4 | -14 | -22 | -30 | 196 | 78 | -95 | -30 | 87 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 86 | 89 | 76 | 71 | 72 | 69 | 78 | 57 | 68 | 69 | 66 | 73 |
Inventory Days | 140 | 125 | 111 | 78 | 98 | 166 | 133 | 133 | 159 | 143 | 121 | 98 |
Days Payable | 207 | 212 | 201 | 156 | 187 | 237 | 221 | 226 | 267 | 235 | 208 | 191 |
Cash Conversion Cycle | 18 | 2 | -15 | -7 | -17 | -2 | -11 | -35 | -40 | -22 | -21 | -20 |
Working Capital Days | 42 | 52 | 28 | 11 | 19 | 35 | 38 | 20 | 14 | 25 | 21 | 26 |
ROCE % | 12% | 15% | 15% | 16% | 17% | 16% | 20% | 15% | 9% | 15% | 23% | 24% |
Documents
Announcements
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Board Meeting Intimation for To Consider And Approve The Audited Standalone And Consolidated Financial Results Of The Company For Q4FY25 And FY25 And Recommendation Of Final Dividend For The Year Ended March 31, 2025, If Any, On The Equity Shares Of The Company.
1d - Board meeting to approve Q4 results and dividend.
- Closure of Trading Window 1d
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Blue Star ESOP Trust - Trust Deed
7 Mar - Formation of Blue Star ESOP Trust for stock options.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
6 Mar - Blue Star launches new commercial refrigeration solutions.
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Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015 ('Listing Regulations')
25 Feb - Commissioning new assembly line for air conditioners.
Annual reports
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Financial Year 2024
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Concalls
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Feb 2025Transcript PPT REC
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Business Segments
1 Electro-Mechanical Projects: Large central AC & ventilation projects, Fire-fighting projects, Water projects, Plumbing projects, Electrical projects and Railway electrification.[1]
2 Commercial Air Conditioning: Blue Star is the market leader in Conventional and Inverter Ducted Air Conditioning Systems and Scroll Chillers and is at the second position in VRFs and Screw Chillers
3 Unitary products: ACs, Air Coolers, Water Purifiers, Commercial Refrigeration etc. Products available in 8,800 outlets in 650+ locations.
4 Professional Electronics and Industrial Systems (PE&IS): Specialized Technology Solutions, Engineered Turnkey Projects, Value-Enhancing Services, MedTech Solutions, Data
Security Solutions, Industrial Solutions.[2]