Blue Star

Blue Star Q2 results: PAT up 36% to Rs 96 cr, revenue from ops rises 20%

Air conditioning and commercial refrigeration systems maker Blue Star Ltd on Wednesday reported 35.73 per cent rise in consolidated net profit at Rs 96.06 crore for the second quarter ended September 2024 led by its project business. The company had logged a net profit of Rs 70.77 crore in July-September FY24, according to a regulatory filing from Blue Star Ltd. Revenue from operations was up 20.39 per cent to Rs 2,275.96 crore in the September quarter as against Rs 1,890.40 crore in the year-ago period. During the quarter, the company maintained the growth momentum established in the first quarter. A strong performance across all major segments, supported by a robust order book, reflects increasing demand for its diverse product portfolio, said an earnings statement from Blue Star. Total expenses increased 19.61 per cent to Rs 2,163.08 crore in the quarter. Total income, which includes other income, was at Rs 2,294.47 crore, up 20.54 per cent year-on-year. Blue Star's revenue fro

Voltas among 38 applicants in PLI scheme's 3rd round for white goods

As many as 38 companies, including Daikin, Voltas and Blue Star have filed applications with proposed investments of Rs 4,121 crore to avail benefits under the production-linked incentive scheme for white goods in the third round, an official said on Monday. The government in July reopened the application window for its Rs 6,238-crore production-linked incentive (PLI) scheme for air-conditioners (ACs) and LED lights to accommodate more players as several firms expressed interest in the initiative. Among the applicants, 20 are for AC components (Rs 3,679 crore) and 18 for LED Lights (Rs 442 crore). Joint Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Sanjiv said that the scheme is benefitting the sector as the value addition has increased from 25 per cent to about 50 per cent. According to the industry, the value addition would increase to about 80 per cent in the coming years. He said that over the next three years (till 2028-29), 38 companies are

Here's why Blue Star share price dropped 3% on October 3; details here

The drop in the share price of Blue Star came after Oman-based WJ Towell & Co LLC increased the claim to Rs 461.74 cr (earlier Rs 223.60 cr) of its ongoing arbitration proceeding at ICC

WJ Towell & Co raises claim in arbitration from Blue Star to Rs 461.74 cr

Air-conditioner maker Blue Star Ltd on Wednesday said Oman's WJ Towell & Co LLC has increased claim to Rs 461.74 crore from it in their ongoing arbitration proceedings at International Chamber of Commerce. In April this year WJ Towell & Co LLC (WJT) had filed arbitration proceedings against Blue Star with International Chamber of Commerce (ICC) claiming OMR 103,18,000 (approximately Rs 223.6 crore) plus an interest of 7 per cent on the total claim amount, the company said in a regulatory filing. "In the statement of claim received by the company on October 1, 2024, the claim amount has been revised to OMR 2,11,80,748 (approximately Rs 461.74 crore) plus interest of 7 per cent on the total claim amount," it added. "The company reiterates that the claims filed by WJT are frivolous, unsubstantiated, premised on fundamental factual misstatements and contrary to the overwhelming facts and evidence," Blue Star said. Based on its assessment, the company said the claims made by WJT ...

Demand to remain strong during festivals: Blue Star MD B Thiagarajan

In the April-June quarter, Blue Star's revenue from electro-mechanical projects, commercial air conditioning systems, services and international business grew by 9.5 per cent

Red-hot growth projections point to cooler outlook for Voltas stock

Voltas saw strong growth in both UCP (Unitary Cooling product) and EMPS (electro mechanical projects) segments. It reported a profit in EMPS versus expectations of loss

Blue Star Q1 result: Profit up two-fold at Rs 168.76 cr, revenue up 28.7%

Air condition and commercial refrigeration system maker Blue Star Ltd has reported a two-fold increase in consolidated net profit at Rs 168.76 crore in the first quarter ended June 2024, helped by a robust demand of cooling products and cost management efforts. The company had posted a net profit of Rs 83.37 crore in the April-June quarter of the previous fiscal, Blue Star said in a regulatory filing. Its revenue from operations was up 28.72 per cent to Rs 2,865.37 crore in the June quarter. It was at Rs 2,222.60 crore in the year-ago period. Blue Star's total expenses increased 25.51 per cent to Rs 2,663.20 crore in the June quarter. Its total income in the June quarter was at Rs 2,889.14 crore, up 29.24 per cent. Blue Star delivered an "exceptional business performance" in the first quarter of FY25," according to an earnings statement by the company on Tuesday. "During the quarter, the company's revenue and profit growth were driven by robust demand for its diverse product port

Blue Star Q1 results: PAT jumps 102.6% to Rs 169 cr, revenue up 28.7%

Blue Star's consolidated net profit rose 102.6 per cent to Rs 169 crore ($20.14 million) for the three months ended June 30, surpassing analysts' expectations of Rs 141 crore

Indian AC industry likely to double in next four years: Blue Star

The air-conditioning industry, valued at around Rs 27,500 crore (USD 3.3 billion), is likely to double in the next four years, Blue Star has said in its annual report. The Indian HVAC&R (heating, ventilating, air conditioning and refrigerating) is poised for exponential growth, said Blue Star Chairman & Managing Director Vir S Advani. This growth would be driven by factors such as low penetration of room ACs and the burgeoning middle-class consumers with high disposable incomes, especially from smaller Tier III, IV & V markets. The Indian The overall AC industry (both residential and commercial), currently valued at around Rs 27,500 crore, is likely to double in the next four years, Advani said in his address to the company's shareholders in the annual report for 2023-24. The company is optimistic about its future business outlook, given the changing weather pattern, resulting in hotter summers coupled with a new and resilient product portfolio in residential and ...

Blue Star Q4FY24 results: Net profit declines 29% to Rs 159.71 crore

Air conditioner and commercial refrigeration system maker Blue Star Ltd on Thursday reported a 29 per cent decline in its consolidated net profit to Rs 159.71 crore for the fourth quarter of 2023-24. The company had reported a net profit of Rs 225.29 crore in the January-March quarter of FY2022-23, a regulatory filing showed. Blue Star's total income increased to Rs 3,340.16 crore in the quarter under review from Rs 2,830.48 crore in the January-March period of the previous fiscal. Its total expenses were also higher at Rs 3,126.38 crore in the fourth quarter of 2023-24, compared with Rs 2,485.46 crore in the corresponding period last year. "The company has reported Revenue from Operations of Rs 9,685.36 crore for the year ended March 31, 2024, compared to Rs 7,977.32 crore during FY23, representing growth of 21.4 per cent," Blue Star Ltd stated. It further informed that the net profit for the year was Rs 414.31 crore compared to Rs 400.69 crore in FY23. During the previous year, t

Blue Star expects 25% growth in sales of residential AC in June quarter

Homegrown cooling products maker Blue Star on Tuesday said it expects up to 25 per cent growth in sales of residential AC in the June quarter, the period which accounts for the highest number of sales due to the temperature rise and heat wave. The company has already witnessed up to a 40 per cent year-on-year increase in sales of AC in March from the Southern region, where sales of cooling products start early, Blue Star Managing Director B Thiagarajan said. "Our goal is to reach the market share of 15 per cent in FY25. So we are working towards that, we have another 11 months to go," Thiagarajan said. To woo customers in its fold, Blue Star, which launched a new range of over 100 affordable and premium models of AC on Tuesday, plans to invest over Rs 40 crore in advertising during the summer season. Blue Star is witnessing a significant demand coming from the burgeoning middle-class consumers with higher disposable incomes and the category becoming more of a necessity than a ...

With mercury rising, analysts foresee summer surge for consumer durables

IMD forecasts that most parts of the country will experience hotter-than-average temperatures from March through May, leading to an uptick in the frequency of heatwave days

Blue Star bets big on 'harsh' summer to cross 1 million mark in sales

'Rural markets key growth driver, contributing to 65% sales'

Blue Star Q3 results: Profit jumps to Rs 100 cr on strong festive demand

The company posted a consolidated net profit of Rs 100 crore ($12 million) for the three months ended Dec. 31, up nearly 72% from last year. Revenue from operations rose about 25%

Pent-up demand fuels Blue Star's air conditioners sales growth by 30%

Robust demand from Tier-III and Tier-V towns spurs growth

Blue Star Q2 results: Profit jumps 66% to Rs 70.67 cr on strong demand

The company posted a consolidated net profit of Rs 70.67 crore for the quarter ended Sept. 30, up over 66% from last year. Revenue from operations rose 19.5%

Stocks to Watch today: ICICI Bank, Hudco, NDTV, ABFRL, Samvardhan, Paytm

Stocks to Watch on Monday, October 23, 2023: Paytm said its revenue increased 32 per cent YoY to Rs 2,519 crore in the second quarter, with its consolidated net loss narrowing to Rs 291 crore

Tailwind ahead for consumer durables sector during festival season

There are hopes of better offtake and margin gains

Blue Star surges 15%, hits record high on launch of Rs 1,000 cr QIP issue

The company proposed to raise around Rs 1,000 crore at a floor price of Rs 784.55 per equity share.

Blue Star launches QIP to raise Rs 1,000 cr, floor price at Rs 784.55

Leading cooling products maker Blue Star on Monday launched its qualified institutions placement (QIP) offer with a floor price of Rs 784.55 per equity share to raise Rs 1,000 crore to support its growth plans. The floor price is 2.04 per cent lower than Rs 800, the price on which the scrips of Blue Star closed on BSE on Monday. The Executive Management Committee at its meeting held on Monday considered and approved the issue's opening on September 18, 2023. It also approved "the floor price for the Issue, being Rs 784.55 per Equity Share, based on the pricing formula, as prescribed under the SEBI ICDR Regulations". The equity shares have a face value of Rs 2 each, according to a regulatory filing by the company. Moreover, in accordance with the approval of the shareholders accorded through a special resolution on September 15, 2023, "the company may at its discretion offer a discount of not more than 5 per cent on the floor price so calculated for the Issue", it added. A meeting