Blue Star

₹1919.1 48.1 | 2.6%

WEBSITE BSE:500067 NSE : BLUE STAR 15 Jan, 16:01

Market Cap ₹39459 Cr.

Stock P/E 95.2

P/B 14.4

Current Price ₹1919.1

Book Value ₹ 132.9

Face Value 2

52W High ₹2420

Dividend Yield 0.36%

52W Low ₹ 1034.7

Edit Ratio

Blue Star Research see more...

Overview Inc. Year: 1949Industry: Air Conditioners

Blue Star Ltd is an air-conditioning and business refrigeration company. The Company conducts diverse activities, inclusive of electrical, plumbing and fire-fighting offerings. The Company operates via three segments: Electro-Mechanical Projects and Commercial Air Conditioning Systems, Unitary Products and Professional Electronics and Industrial Systems. Its Electro-Mechanical Projects and Commercial Air-conditioning Systems segment consist central air-conditioning projects, electric contracting enterprise, and packaged air-conditioning corporations, along with production and after-sales provider. Its Unitary Products segments include cooling home equipment, cold storage products, together with manufacturing and after-sales service. Its Professional Electronics and Industrial Systems segments include trading and services for testing machines, medical, analytical, test and measuring, information communications, commercial merchandise and systems.

Blue Star Share Price

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Peer Comparison

Blue Star Quarterly Results

#(Fig in Cr.)	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Net Sales	1977	1582	1794	2624	2226	1890	2241	3328	2865	2276
Other Income	11	9	5	7	9	13	13	12	24	19
Total Income	1988	1591	1799	2630	2235	1903	2254	3340	2889	2294
Total Expenditure	1854	1497	1689	2445	2081	1768	2086	3086	2628	2127
Operating Profit	134	94	110	186	154	136	168	254	262	168
Interest	11	12	14	18	18	18	10	12	8	6
Depreciation	22	24	16	23	23	23	23	28	28	30
Exceptional Income / Expenses	0	0	0	171	0	0	0	0	0	0
Profit Before Tax	101	58	80	316	114	95	134	214	226	131
Provision for Tax	26	15	22	92	30	24	34	54	57	35
Profit After Tax	75	43	59	224	83	71	100	159	169	96
Adjustments	-1	-0	-0	1	-0	-0	0	1	0	-0
Profit After Adjustments	74	43	58	225	83	71	100	161	169	96
Adjusted Earnings Per Share	3.9	2.2	3	11.7	4.3	3.4	4.9	7.8	8.2	4.7

Blue Star Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Net Sales	2934	3182	3593	4385	4639	5235	5360	4264	6064	7977	9685	10710
Other Income	18	8	24	35	64	25	45	62	36	31	82	68
Total Income	2952	3190	3617	4420	4703	5260	5405	4326	6100	8008	9768	10777
Total Expenditure	2784	3015	3403	4163	4420	4888	5077	4024	5718	7485	9055	9927
Operating Profit	168	176	213	257	283	371	327	302	382	524	712	852
Interest	54	49	43	38	29	48	29	65	46	55	58	36
Depreciation	38	43	52	61	64	75	88	92	86	85	98	109
Exceptional Income / Expenses	-0	-41	-12	0	5	3	-4	0	0	171	0	0
Profit Before Tax	76	43	107	159	196	251	206	148	251	555	557	705
Provision for Tax	2	-8	24	37	49	42	65	47	83	155	143	180
Profit After Tax	74	51	83	122	146	209	141	101	168	401	414	524
Adjustments	4	4	22	1	-2	-19	3	-0	-0	-0	1	1
Profit After Adjustments	78	54	105	123	144	190	143	100	168	400	415	526
Adjusted Earnings Per Share	4.2	3	5.8	6.4	7.5	9.9	7.4	5.2	8.7	20.8	20.2	25.6

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	21%	31%	13%	13%
Operating Profit CAGR	36%	33%	14%	16%
PAT CAGR	3%	60%	15%	19%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	81%	54%	35%	27%
ROE Average	21%	24%	20%	19%
ROCE Average	26%	28%	24%	20%

Blue Star Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	479	456	630	757	793	873	782	885	1018	1331	2610
Minority's Interest	0	0	1	1	2	2	2	3	3	3	3
Borrowings	0	24	18	20	26	9	48	349	242	162	0
Other Non-Current Liabilities	370	365	-93	-92	-95	-89	-21	3	54	112	119
Total Current Liabilities	1852	1688	1860	1856	2397	2449	2546	2261	2969	3832	3880
Total Liabilities	2701	2532	2417	2543	3123	3243	3358	3502	4285	5439	6611
Fixed Assets	255	257	259	288	330	332	381	372	422	849	1155
Other Non-Current Assets	597	650	269	233	214	251	325	271	380	340	416
Total Current Assets	1848	1626	1886	2020	2573	2660	2651	2859	3478	4249	5040
Total Assets	2701	2532	2417	2543	3123	3243	3358	3502	4285	5439	6611

Blue Star Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	17	68	2	15	89	71	84	286	328	239	227
Cash Flow from Operating Activities	67	215	257	159	19	258	450	350	87	243	289
Cash Flow from Investing Activities	11	-49	-65	69	-88	-65	-81	-240	-69	-182	-525
Cash Flow from Financing Activities	-26	-190	-195	-203	51	-181	-167	-70	-82	-76	365
Net Cash Inflow / Outflow	52	-24	-3	25	-18	13	202	41	-64	-14	129
Closing Cash & Cash Equivalent	68	44	15	40	71	84	286	328	266	227	357

Blue Star Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	4.21	3.01	5.82	6.44	7.5	9.87	7.44	5.21	8.71	20.79	20.18
CEPS(Rs)	6.21	5.21	7.51	9.55	10.94	14.75	11.87	10.02	13.19	25.21	24.9
DPS(Rs)	2	2.5	3.25	3.75	5	5	5	2	5	6	7
Book NAV/Share(Rs)	25.6	25.33	25.06	39.27	41.13	45.33	40.62	45.96	52.83	69.09	126.95
Core EBITDA Margin(%)	5.07	5.21	5.24	5.03	4.7	6.62	5.28	5.62	5.71	6.18	6.51
EBIT Margin(%)	4.4	2.84	4.13	4.44	4.83	5.71	4.39	4.98	4.9	7.65	6.35
Pre Tax Margin(%)	2.57	1.33	2.94	3.59	4.21	4.8	3.84	3.47	4.14	6.96	5.75
PAT Margin (%)	2.49	1.58	2.29	2.76	3.14	4	2.62	2.36	2.77	5.02	4.28
Cash Profit Margin (%)	3.77	2.92	3.73	4.13	4.52	5.43	4.27	4.53	4.19	6.09	5.29
ROA(%)	2.84	1.93	3.36	4.92	5.16	6.57	4.26	2.93	4.31	8.24	6.88
ROE(%)	17.17	11.03	18.32	20.31	18.98	25.16	16.99	12.07	17.66	34.13	21.03
ROCE(%)	14.52	9.99	16.18	19.91	20.9	25.03	19.12	16.45	20.97	35.85	26.26
Receivable days	93.16	84.68	75.96	71.38	74.18	71.9	66.38	70.57	60.21	62.65	65.98
Inventory Days	60.01	53.7	51.02	46.65	63.32	65.76	59.21	75	60.99	58.97	53.52
Payable days	218.74	207.52	192.38	183.99	201.97	210.46	207.77	258	180.85	174.45	169.11
PER(x)	23.9	51.09	32.94	53.8	50.28	34.36	30.97	89.96	60.36	33.13	62.96
Price/Book(x)	3.93	6.08	7.66	8.82	9.17	7.48	5.67	10.2	9.95	9.97	10.01
Dividend Yield(%)	1.99	1.62	1.69	1.08	1.33	1.47	2.17	0.43	0.95	0.87	0.55
EV/Net Sales(x)	0.77	0.98	1.05	1.54	1.62	1.29	0.86	2.15	1.7	1.71	2.68
EV/Core EBITDA(x)	13.39	17.76	17.66	26.24	26.63	18.26	14.05	30.28	27.03	25.98	36.38
Net Sales Growth(%)	0.35	8.44	12.91	22.05	5.79	12.85	2.39	-20.46	42.23	31.55	21.41
EBIT Growth(%)	39.46	-30.06	64.01	31.34	14.2	33.3	-21.25	-9.76	41.66	105.21	0.85
PAT Growth(%)	93.87	-31.64	64.25	46.9	19.83	43.11	-32.74	-28.44	71.32	138.51	3.4
EPS Growth(%)	93.86	-28.46	93.35	10.56	16.45	31.61	-24.63	-29.95	67.12	138.78	-2.93
Debt/Equity(x)	1.03	0.87	0.81	0.29	0.48	0.4	0.59	0.51	0.47	0.43	0.06
Current Ratio(x)	1	0.96	1.01	1.09	1.07	1.09	1.04	1.26	1.17	1.11	1.3
Quick Ratio(x)	0.75	0.68	0.73	0.77	0.65	0.73	0.7	0.87	0.79	0.73	0.94
Interest Cover(x)	2.4	1.88	3.49	5.2	7.8	6.25	7.99	3.28	6.41	11.15	10.59
Total Debt/Mcap(x)	0.27	0.14	0.11	0.03	0.05	0.05	0.1	0.05	0.05	0.04	0.01

Blue Star Shareholding Pattern

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	38.78	38.78	38.78	38.78	38.91	36.49	36.49	36.49	36.52	36.46
FII	12.25	11.79	10.96	10.44	11.06	14.89	15.38	15.93	17.03	18
DII	22.06	23.07	24.64	25.13	24.5	25.24	24.83	24.69	23.59	22.91
Public	26.92	26.36	25.62	25.65	25.53	23.38	23.3	22.89	22.86	22.63
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	3.73	3.73	3.73	3.73	7.5	7.5	7.5	7.5	7.51	7.5
FII	1.18	1.14	1.06	1.01	2.13	3.06	3.16	3.27	3.5	3.7
DII	2.12	2.22	2.37	2.42	4.72	5.19	5.1	5.08	4.85	4.71
Public	2.59	2.54	2.47	2.47	4.92	4.81	4.79	4.71	4.7	4.65
Others	0	0	0	0	0	0	0	0	0	0
Total	9.63	9.63	9.63	9.63	19.26	20.56	20.56	20.56	20.56	20.56

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 24%
Debtor days have improved from 174.45 to 169.11days.
Company has reduced debt.
Company is almost debt free.

Cons

Promoter holding is low: 36.46%.
Stock is trading at 14.4 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.

Blue Star News

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Blue Star

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Blue Star Research see more...

Overview Inc. Year: 1949Industry: Air Conditioners

Blue Star Share Price

Alert Data

Quarterly Price

Peer Comparison

Blue Star Quarterly Results

Blue Star Profit & Loss

Growth Rates

Blue Star Balance Sheet

Blue Star Cash Flow

Blue Star Ratios

Blue Star Shareholding Pattern

Blue Star News

IPO

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