Conference Call with Blue Star Management and Analysts on Q1FY25 Performance and Outlook. Listen to the full earnings transcript.
Consumer Electronics company Blue Star announced Q1FY25 results: The Company’s Revenue from Operations increased by a significant 28.7% to Rs 2,865.37 crore for the quarter ended June 30, 2024, compared to Rs 2,226.00 crore during the same period in the previous year. The Operating Profit (EBITDA excluding Other Income and Finance Income) for the quarter grew by 64% to Rs 237.83 crore (8.3% of Revenue) compared to Rs 145.00 crore (6.5% of Revenue) in Q1FY24. Profit Before Tax grew by 98.9% to Rs 226.02 crore in Q1FY25 compared to Rs 113.61 crore in Q1FY24. Net Profit for the quarter at Rs 168.76 crore more than doubled by 102.4% as compared to Rs 83.37 crore reported in the same period of the previous year. Strong operating performance aided healthy cash flow during the quarter. Consequently, Other Income, including treasury income, for Q1FY25 was Rs 23.77 crore compared to Rs 9.40 crore in Q1FY24. The quarter ended with a net cash position of Rs 1,042.87 crore as compared to a net borrowing of Rs 283.46 crore (debt equity ratio of 0.20 on a net basis). As a result, Finance Cost for the quarter decreased to Rs 7.64 crore from Rs 18.00 crore in Q1FY24. Tax expense for the quarter was Rs 57.26 crore compared to Rs 30.24 crore in Q1FY24. Earnings per share (not annualised) for Q1FY25 (Face value of Rs 2.00) was Rs 8.21 compared to Rs 4.33 in Q1FY24. Carried Forward Order Book as on June 30, 2024, grew by 13.5% to Rs 6,084.69 crore, compared to Rs 5,359.05 crore as on June 30, 2023. Vir S. Advani, Chairman & Managing Director, Blue Star adds, “The year has commenced on a strong note, marked by a record demand for room air conditioners. We expect sustained growth driven by good demand, from the introduction of new products across all product categories and a strong carried forward order book. In order to capitalise on future opportunities and enhance our competitiveness, we will continue to make investments in manufacturing, research and development and digitalisation initiatives and at the same time continue to be prudent in capital allocation. While we remain optimistic about the prospects for the rest of the fiscal year, the geopolitical developments across the globe, especially in the Middle East is a matter of concern.” Result PDF