Scrip Watch

Blue Star Ltd

Scrip Sanctuaries for protection from the wildlife in this jungle of Indian Equities

Blue Star Ltd

Blue Star Ltd
Consumer Electronics
FV – Rs 2; 52wks H/L –444/306.1; TTQ – 5 K; CMP – Rs 416 (As On May 31st 2016; 11.00);                                  
Market Cap – Rs 3742 Crs

Consolidated Financials and Valuations for FY16 (Amt in Rs Crs unless specified)


Equity Capital

Net worth
Long Term Debt
Total  
Sales
PAT
BV
(Rs)

EPS (Rs)

P/E

Industry P/E

P/BV

Promoter’s
Stake
Beta
17.99 663 18 3770 108.38 74 12.05 34.5 56.34 5.6 39.46 1.18

 

Standalone Financials and Valuations for Q4 FY16


Equity Capital

Net worth

Total  
Sales
PAT
BV
(Rs)

TTM EPS (Rs)

TTM P/E

Industry P/E

P/BV

Promoter’s
Stake
Beta
17.99 846 1103 71.72 94 8 52 56.34 4.4 39.46 1.18

 

Valuation Parameters:

  1. Long Term Debt to Equity – 0.03
  2. ROE % – 16.35
  3. Market Cap/Sales – 1

Key Updates:

  • Blue Star launches Inverter Room ACs with anti-corrosive copper condensers for Maldives.

http://www.equitybulls.com/admin/news2006/news_det.asp?id=186302

  • Blue Star sold the 4.9 % stake Vigilant Applications to AA Management for a total sum of £220,000.

https://www.insidermedia.com/insider/southeast/blue-star-sells-vigilant-applications-stake

  • Blue Star becomes 7th Indian company to achieve Verafirm Certification by BSA.

http://www.indiainfoline.com/article/news-business/blue-star-becomes-7th-indian-company-to-achieve-verafirm-certification-by-bsa-116051600218_1.html

 

Overview:

  • Blue Star Ltd is an air-conditioning and commercial refrigeration company.
  • The Company is also engaged in the business of plumbing and firefighting, IT services and into distribution and maintenance of imported professional electronics and industrial systems.
  • The Company’s segments include Electro Mechanical Projects and Packaged Air-conditioning Systems, and Cooling Products.
  • The Electro Mechanical Projects and Packaged Air-conditioning Systems segment is engaged in the design, manufacturing, installation, commissioning and maintenance of central air-conditioning plants, packaged/ducted systems and variable refrigerant flow (VRF) systems, as well as contracting services in electrification, plumbing and fire-fighting. It also provides after-sales services.
  • The Company offers a range of room air conditioners for both residential, as well as commercial applications.
  • It also manufactures and markets commercial refrigeration products and cold chain equipment.
  • Blue Star exports its products to the Middle East, Africa, SAARC and ASEAN countries.

 

      Management:

  • Ashok M Advani – Chairman
  • Satish Jamdar – MD
  • Neeraj  Basur – CFO

The Equity Capital is @ Rs  Crs consisting of 89936105 equity Shares of FV Rs 2 currently held as under

 

0.67% Of the Promoter’s Holding is pledged.

 

Major Non-Promoter Holdings:

Sr.No Non – Promoters No. of Shares held % of shares held
1 HDFC Trustee Company Ltd – HDFC Mid Capopp 6995826 7.78
2 Saif Advisor Mauritius Ltd A/C Saif India IV FII 4731983 5.26
3 Reliance Capital Trustee Co. Ltd A/c Relainceequ 3340148 3.71
4 ICICI Prudential Value Dissovery Fund 2495911 2.78
5 UTI Infrastructure Fund 1335000 1.48
6 The Oriental Insurance Company Ltd 912559 1.01
7 L and T Mutual Fund Trustee Ltd L And T Tax Adv 934711 1.04
Total 20746138 23.07

 

 

Consolidated Financial Trends (In Rs. Crs) :

Particulars FY16 FY15 FY14 FY13 FY12 FY11
Equity Paid Up 17.99 17.99 17.99 17.99 17.99 17.99
Networth 663 456 461 401 395 511
Total Debt 363 397 479 422 367 445
Net Sales 3770 3190 2978 2960 2843 3013
Other Income 44 8 63 36 23 32
PAT 108.38 54.18 77.54 39.07 -105.1 160.97
Book Value (Rs) 74 51 51 45 44 57
EPS (Rs) 12.0 6.0 8.6 4.3 -11.7 17.9

Consequent to amalgamation and subsequent sale of IT business, the Company has recorded a net gain of Rs 46.1 Crs in consolidated results which is disclosed in Exceptional item In the Profit & Loss statement.

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