Blue Star total income grows 36% to Rs 1607cr

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Financial Performance

Central airconditioning and commercial refrigeration major Blue Star has reported Total Income of Rs 1607 crores for the year ended March 31, 2007, representing 36% growth over last year.

 

Net Profit grew 46% to Rs 71.18 crores, while Earnings Per Share (Face value of Rs 2.00) increased to Rs 7.91 from Rs 5.44.

Dividend

The Directors have recommended a final dividend of Rs. 0.60 per share, over and above the interim dividend of Rs 2.40 paid in March 2007. Thus the total dividend recommended for the financial year equals Rs 3.00 per share (Face value of Rs 2.00) representing 150% compared to 120% declared last year. The Company has paid attractive dividends consistently for the past 38 years, since its listing on the Bombay Stock Exchange in 1969. 

 

Segment-wise performance

Blue Star performed impressively in all 3 lines of business.

The large central airconditioning business accounting for 70% of total revenues continued to show healthy growth of 37% during FY07. The IT/ITES and Retail segments were big growth drivers helping the Company to maintain market leadership in the Indian market.

 

The cooling products business also registered impressive growth, increasing 37% in the year. The growth was driven by increased sales of split airconditioners as well as refrigeration products and cold chain equipment. Segment profit was up by 78% in the year.

 

The professional electronics and industrial systems business continued to contribute significantly to the profitability of the Company. The business grew by a solid 30% during FY07. 

 

Orders booked during Q4FY07

The Company bagged several prestigious orders during the quarter ended March 31, 2007 including orders from Hexaware, Chennai; Infosys, Pune; Reliance Retail; Jaipur Airport; Great Eastern Hotel, Kolkata; Moser Baer, Noida; Amritsar Airport; Galaxy Mercantiles, New Delhi; KG Information Systems, Coimbatore and RMZ Infinity Tower, Bangalore.

 

Outlook

Ashok M Advani, Chairman and Managing Director says "The Company continues to sustain its momentum of high growth in all business segments. Although central airconditioning remains our biggest business, cooling products and the professional electronics business have also grown impressively. Blue Star's leadership position, reputation and brand equity, have helped us to continue to be the preferred choice for customers seeking expert solutions. While lack of skilled technical manpower is a concern area for industry, our Corporate values and beliefs and our work culture has helped us immensely to attract and retain talent. With a promising outlook for all three lines of business and a healthy order backlog, I remain confident about the overall prospects of Blue Star."

  

Sourced From: Pressman India