NSE: BLUESTARCO | BSE: 500067 | INDUSTRY : CONSUMER ELECTRONICS | SECTOR : CONSUMER DURABLES

Blue Star Ltd.

Expensive Star

642.95 -2.45 (-0.38%)

27.56% Fall from 52W High

Volume: 8,980

NSEOct 26, 2020 10:14 AM

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Durability score
60/100
High Financial Strength
Valuation score
14.2/100
Expensive Valuation
Momentum score
65.0/100
Technically Moderately Bullish
11S
7W
6O
5T


Blue Star Ltd.    
08 Aug 2020
642.95
-0.38%
buy
by Nirmal Bang Institutional
Target: 575 | Target met
Nirmal Bang Institutional
Blue Star (BLSTR) reported consolidated revenue of Rs6.3bn, down 60% YoY and 6% below our/consensus estimates each, as lockdown impacted peak summer season of AC sales. Unitary Products segment's revenue fell 70% YoY to Rs2.8bn as lockdown impacted secondary sales of AC and refrigeration products (AC market shrunk by 65%) while channel inventory was high. EMPS segment's revenue fell 50% YoY to Rs3.1bn as most project sites were shut amid lockdown. Gross margin fell 130bps YoY to 23.5% due to unfavourable sales mix. EBITDA fell 99% YoY to Rs14mn leading to EBITDA margin of 0.2%. Lower operating profit and higher interest cost (up 125% YoY to Rs185mn) led to net loss of Rs197mn...
Blue Star Ltd. has gained 31.66% in the last 3 Months
Blue Star Ltd.    
05 Aug 2020
642.95
-0.38%
buy
Neutral: Blue Star Ltd.
by Motilal Oswal
Target: 460 | Upside : -28.5%
Motilal Oswal
5 August 2020 successful in reducing its working capital (WC) cycle in FY20. As % of sales, WC stood at 6.2% in F20 (v/s 10.6% in FY19) due to debtor days declining to 57 days in FY20 (v/s 78 days in FY19). Free cash flow (FCF) generated stood at INR3.7b in FY20, implying FCF/EBITDA of 131% and FCF/Adj. PAT of 252%. Over FY14-20, FCF generation stood strong at INR8.9b, implying 100% FCF/Adj. PAT. BLSTRs products are exported to 18 countries across the Middle East, Africa, SAARC and ASEAN regions. Revenues from abroad doubled to INR5.2b in FY20 (v/s INR2.6b in FY15). Also, share of revenue from abroad now constitutes ~10% of the companys total revenue (v/s 8.
Blue Star Ltd. has gained 31.66% in the last 3 Months
Blue Star Ltd.    
20 Jul 2020
642.95
-0.38%
buy
by Dolat Capital
Target: 508 | Target met
Dolat Capital
The Blue Star AR while addressing the covid-19 impact talks about company's focus on constant innovation, product expansion and dealer engagement. The company revamped its products and brand with Virat Kohli as the brand ambassador in FY20. The company has implemented the BlueStar@80 FY24 strategy; management continuity, constant...
Blue Star Ltd. has gained 31.66% in the last 3 Months
Blue Star Ltd.    
19 May 2020
642.95
-0.38%
buy
by Nirmal Bang Institutional
Target: 545 | Target met
Nirmal Bang Institutional
We interacted with the management of Blue Star (BLSTR) to seek more clarity on the current situation amid COVID-19 crisis as well as gauge future outlook. Considering the loss of summer sales of RAC, FY21E sales could decline in the range of 10%-25% for the industry. In the Projects segment, BLSTR will ensure its focus on cash flows while being selective in execution post reevaluating creditworthiness of its customers. To counter decline in sales, BLSTR is implementing reduction in various expenses, including salary cuts. The key takeaways are summarized below: BLSTR had ambitious plan for FY21 and was hoping for a 25% growth in sales in...
Blue Star Ltd. has gained 31.66% in the last 3 Months
Blue Star Ltd.    
14 May 2020
642.95
-0.38%
buy
by Nirmal Bang Institutional
Target: 545 | Target met
Nirmal Bang Institutional
Blue Star (BLSTR) reported consolidated revenue of Rs12.9bn, down 19% YoY and 10%/15% below our/consensus estimates, due to significant impact on company's billing and order fulfillment in the wake of COVID-19 crisis. Unitary Products segment's revenue fell 15% YoY to Rs5.9bn due to lower off-take in March (a key month in peak summer season sales of ACs). EMPS segment's revenue declined 22% YoY to Rs6.6bn, owing to lower billing amid the COVID-19 outbreak. Unitary Products EBIT margin fell 310bps YoY to 7.3% due to lower sales in March and higher advertising and sales promotion. EMPS' EBIT margin fell 380bps YoY to only 0.5% due to lower billing and Rs150mn provisions for doubtful receivables (230bps...
Blue Star Ltd. has an average target of 616.25 from 6 brokers.
Blue Star Ltd.    
13 May 2020
642.95
-0.38%
buy
Neutral: Blue Star Ltd.
by Motilal Oswal
Target: 450 | Upside : -30.0%
Motilal Oswal
13 May 2020 Blue Star (BLSTR) barely managed to report profit in 4QFY20 as shutdown toward end-Mar20 impacted the UCP/EMP segments. Also, BLSTR is looking at debt financing to maintain liquidity in the current challenging times. We have cut our FY21E/F22E earnings by 57%/29% as we factor in likely weak primary sales in the UCP segment in FY21 until inventory weak order inflow and execution in the EMP segment as the company focuses on cash conservation. Our SOTP-based TP stands at We continue to prefer Voltas over BLSTR to play the underpenetrated AC market in India. 4QFY20 revenue declined 18.6% YoY to INR13b and was 16% below expectation. Owing to lack of operating leverage and ECL related provisions in the project business, EBITDA declined 66% YoY to INR373m (63% below est.) EBITDA margin was down 400bp YoY to 2.9% (v/s est. Adj. PAT came in at INR96m, down 88% YoY.
Blue Star Ltd. is trading above all available SMAs
Blue Star Ltd.    
01 Feb 2020
642.95
-0.38%
buy
by Way2Wealth
Target: 922 | Upside : 43.4%
Way2Wealth
Blue Star Ltd. (BLUESTAR) reported strong revenue growth of ~13% YoY to `12,359.1mn, with the EMPS segment registering growth of ~16% YoY to `7,588mn driven by strong execution and cost optimisation measures. The UCP segment grew 7.3% YoY/ 11.4% QoQ to...
Blue Star Ltd. is trading above all available SMAs
Blue Star Ltd.    
01 Feb 2020
642.95
-0.38%
buy
by Nirmal Bang Institutional
Target: 970 | Upside : 50.9%
Nirmal Bang Institutional
Blue Star (BLSTR) reported consolidated revenue of Rs12.4bn for 3QFY20, up 13% YoY, broadly in-line with our/consensus estimates. Unitary Products segment's revenue grew by 7% YoY to Rs4.2bn in a non-seasonal quarter for ACs (ACs up 10% YoY and commercial refrigeration products up 7% YoY). EMPS segment's revenue grew by 16% YoY to Rs7.6bn led by healthy execution. Order book grew by 23% YoY to Rs28.1bn. Unitary Products' EBIT margin fell 60bps YoY to 1.8% due to high advertisement spends. EMPS segment's EBIT margin rose 50bps YoY to 5.1% owing to execution of better margin projects and cost control initiatives. Consolidated EBITDA margin rose by 70bps YoY to 4.6%, but below our/consensus...
Blue Star Ltd. has gained 31.66% in the last 3 Months
Blue Star Ltd.    
31 Jan 2020
642.95
-0.38%

Blue Star -3QFY20 Result Update

buy
by Reliance Securities
Reliance Securities
Blue Star Ltd. is trading above all available SMAs
Blue Star Ltd.    
18 Nov 2019
642.95
-0.38%
buy
by Nirmal Bang Institutional
Target: 970 | Upside : 50.9%
Nirmal Bang Institutional
Blue Star (BLSTR) reported consolidated revenue of Rs12.5bn for 2QFY20, up 21% YoY, above our/consensus estimate of Rs11bn each. Unitary Products segment's revenue grew by 10% YoY to Rs3.8bn in a non-seasonal quarter, while demand was driven by Tier 3/4/5 towns. EMPS segment's revenue grew by 24% YoY to Rs7.8bn on execution of a healthy order book. Order book grew by 32% YoY and 3% QoQ to Rs29.4bn as on 1HFY20. Unitary Products' EBIT margin grew by 80bps YoY to 3.2%, while EMPS segment's margin fell 140bps YoY at 5.7%, on a high base, but up 30bps QoQ. Consolidated EBITDA margin rose by 30bps YoY to 5.9%, exactly inline with our/consensus estimate. The company has not shifted to the lower tax regime as it is yet to avail Rs670mn worth of MAT credit. Lower interest costs and higher other income aided...
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Blue Star Ltd. has an average target of 616.25 from 6 brokers.