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:
- Long Term Debt to Equity – 0.03
- ROE % – 16.35
- 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.
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.
