Conference Call with Blue Star Management and Analysts on Q4FY25 & Full Year Performance and Outlook. Listen to the full earnings transcript.
Consumer Electronics company Blue Star announced Q4FY25 & FY25 results Q4FY25 Financial Highlights: The Company’s Revenue from Operations increased by 20.8% to Rs 4,018.96 crore for Q4FY25, compared to Rs 3,327.77 crore during the Q4FY24. The Operating Profit (PBIDTA excluding Other Income) for the quarter grew by 15.5% to Rs 279.40 crore (7.0% of Revenue) in Q4FY25 compared to Rs 241.90 crore in Q4FY24 (7.3% of Revenue). Profit Before Exceptional Items & Tax grew by 16.2% to Rs 248.82 crore in Q4FY25 compared to Rs 214.13 crore in Q4FY24. Net Profit for the quarter, excluding exceptional items, was Rs 194.00 crore compared to Rs 159.71 crore in Q4FY24. Other Income, including treasury income, for Q4FY25 was Rs 23.99 crore compared to Rs 12.39 crore in Q4FY24. Increase in ‘Other Income’ is mainly on account of higher cash surplus levels in FY25 as a result of prudent working capital management. Tax expense for the quarter was Rs 54.82 crore, as compared to Rs 54.42 crore in Q4FY24. FY25 Financial Highlights: The Company has reported Revenue from Operations of Rs 11,976.65 crore for FY25, compared to Rs 9,685.36 crore for FY24, representing a growth of 23.6%. Operating Profit (PBIDTA excluding Other Income) for the year grew by 31.8% to Rs 875.92 crore (7.3% of revenue) compared to Rs 664.94 crore (6.9% of revenue) in FY24. Profit Before Exceptional Items & Tax grew by 38.6% to Rs 772.42 crore in FY25 compared to Rs 557.16 crore in FY24. Net Profit for the year grew to Rs 591.28 crore (including exceptional income of Rs 10.37 crore) compared to Rs 414.31 crore in FY24 representing a significant growth of 42.7% before exceptional income stage. Other Income, including treasury income, for FY25 was Rs 75.00 crore compared to Rs 47.42 crore in FY24. This increase is on account of higher surplus levels in FY25 due to prudent working capital management. Net cash balance as of March 31, 2025, was Rs 640 crore compared to a net cash balance of Rs 456 crore as of March 31, 2024. Finance cost for FY25 was Rs 48.80 crore compared to Rs 58.08 crore in FY24, on account of lower borrowings. Capital Employed as of March 31, 2025, stood at Rs 2,427.28 crore as compared to Rs 2,156.70 crore as of March 31, 2024, primarily owing to capital investments. Tax expense for FY25 was Rs 193.65 crore compared to Rs 142.85 crore in FY24. The effective tax rate for FY25 is at 24.7% (FY24 effective rate – 25.6%). Earnings per share for the year FY25 (face value of Rs 2.00) was Rs 28.76 vis-a-vis Rs 20.77 in FY24. Carried Forward Order Book as of March 31, 2025, grew by 9.9% to Rs 6263.36 crore, compared to Rs 5697.63 crore as of March 31, 2024. Vir S. Advani, Chairman & Managing Director, Blue Star, said: “This is the third consecutive year of exceptional financial results. The year ended on a positive note, especially with the Room AC business recording remarkable performance, owing to strong demand expectations from a harsh summer forecast and proactive dealer stocking. Although April saw milder weather and softer growth, going by the weather forecasts, we expect the demand to pick up in May and June 2025. The hurdles faced by the Commercial Refrigeration business are behind us. The strong order book for ElectroMechanical Projects and Commercial Air Conditioning products and the growing demand from manufacturing and data centre market segments will contribute to growth. While we remain optimistic about the growth prospects, we are keeping a close watch on the geo-political developments, potential supply chain disruptions and volatility in commodity prices”. Result PDF