Sharekhan's research report on Blue Star
PAT increased 56% y-o-y to Rs. 100 crore, supported by strong revenue growth of 25% y-o-y, margin improvement of 75bps, higher other income, and lower interest expense. EMP/ unitary products/professional electronics and industrial systems segments posted robust growth of 18%/36%/20% y-o-y. Despite subdued rainfall, the company continued to witness strong demand from Tier 3, 4, 5 markets. Management believes India is going to be the fastest-growing market for RAC and expects to improve its market share in FY2025.
Outlook
We maintain Buy with a revised PT of Rs. 1,490, rolling forward our valuation multiple to FY2026E earnings and increasing our valuation multiple to factor in strong earnings growth trajectory over the next 2-3 years.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
