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Blue Star Q4FY20 Results | Yadnya Investment Academy

Blue Star Q4FY20 Results | Yadnya Investment Academy

Published on 07 May 2021|
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Financial results for Q4

  • The company’s revenue from operation grew to Rs. 1611.56 crores for Q4FY21 as compared to Rs. 1299.36 crores in Q4FY20. A growth of almost 24% YoY.
  • Operating Profit stood at Rs. 101.81 crores which was 6.3% of revenue for Q4FY21 compared to Rs. 37.33 crores which was 2.9% of revenue for Q4FY20. Operating profit grew by 173% QoQ.
  • Profit Before Tax Before Exceptional Items was Rs. 103.34 crores for Q4FY21 as compared to Rs. 13.08 crores for Q4FY20.
  • Net profit for Q4FY21 stood at Rs. 67.11 crores when compared to Q4FY20 net profit of Rs. 35.86 crore, a growth of 87%.
  • Net Borrowings for Q4FY21 reduced by Rs. 282.46 crores due to healthy cash from operations and improvement in efficiency of working capital.

Segment performance

  • Electro-Mechanical Projects and Commercial Air Conditioning Systems business revenue increased by 18.1% to Rs. 779.96 crores in Q4FY21 as compared to Rs. 660.39 crores in Q4FY20.
  • The result of this segment for Q4FY21 increased to Rs. 48.50 crores from Rs. 3.17 crores in Q4FY20.
  • Unitary Products revenue increased by 31.1% to Rs. 781.81 crores in Q4FY21 from Rs. 596.28 crores in Q4FY20.
  • Unitary product segment result stood at Rs. 62.06 crores in Q4FY21 as compared to Rs 43.75 crores in Q4FY20.
  • The Professional Electronics and Industrial Systems business revenue increased by 16.6% to Rs. 49.79 crores in Q4FY21 from Rs. 42.69 crores in Q4FY20
  • Data securities opportunities from the BFSI sector played a part in improving the revenue in Q4FY21.
  • Segment Result stood at Rs. 7.22 crores in Q4FY21 as compared to Rs. 7.50 crores in Q4FY20

Financial results for FY21.

  • Revenue from Operations stood at Rs. 4263.59 crores for FY21 on a consolidated basis, as compared to Rs. 5360.19 crores in FY20, a decline of (24.3)%.
  • The Operating Profit for FY21 was Rs. 239.81 crores which is 5.6% of revenue as compared to Rs. 282.78 crores which is 5.3% of revenue in FY20. A decline of 15%.
  • Net Profit for FY21 was Rs. 100.35 crores, which is a de-growth of (30)% when compared to Rs 143.25 net profit in FY20.
  • Finance Cost increased to Rs. 64.72 crores in FY21 when compared to finance cost Rs. 29.47 crores in FY20. The increase in cost is due to increased cost of funds and additional borrowings during FY21.
  • Tax expense for FY21 was Rs. 47.09 crores as compared to tax expense of Rs. 65.32 crores in FY20.
  • The Company had a Net Positive Cash Balance of Rs. 151.45 crores on March 31, 2021. There was a Net Borrowing of Rs. 131.01 crores as  31 Dec 2020. Net Borrowing of Rs. 155.00 crores is present of the balance sheet as on Mar 31 2020.
  • Debt to equity ratio currently stands at 0.21.
  • EPS for FY21 was Rs. 10.42 as compared to Rs. 14.87 in the FY20.
  • Carried Forward Order Book on 31 March 2021 was Rs. 2952.42 crores when compared to Order Book of Rs 2946.59 crores as on 31 Mar 2020.

 

Segment Performance

  • Electro-Mechanical Projects and Commercial Air Conditioning Systems segment revenue for FY21 decreased by (21.5)% to Rs. 2218.72 crores as compared to Rs. 2826.67 crores in FY20.
  • For FY21, the segment result was Rs. 106.49 crores as compared to Rs. 120.26 crores in FY20.
  • Order inflows from factories and light industrial sector improved which were mostly driven by the ‘Make in India’ initiatives of the govt.
  • Slow order info continued from the commercial building and infrastructure sectors.
  • Traction continued in the Healthcare, Pharma, Industrial and Government segments which lead to growth for the Commercial Air Conditioning business.
  • Profitability of the segment was improved by improved margin in the Commercial Air conditioning and Service business, better margin profile of jobs executed during FY21 and actions undertaken to reduce operating costs.
  • Unitary products revenue decreased by (18.8)% during FY21 to Rs. 1868.28 crores from Rs. 2300.61 crores in FY20.
  • The segment was the most impacted segment due to restrictions at the beginning of the year at the peak selling season.
  • It recovered during the rest of the year because of the improvement in general business sentiments, business share increase from  e-commerce channel and initiatives which were sustained such as new product categories introduction and foray into new customer categories.
  • A new range of ‘Mass Premium’ products was launched by the company in room air conditioners business.
  • Order inflows improved from Healthcare, Restaurants and the Government sector including increasing traction from the Retail and Pharma segments in the commercial refrigeration business segment.
  • Segment Result was Rs. 108.82 crores for FY21 as compared to Rs. 162.27 crores in FY20
  • The revenue declined due to  increasing in material most as well competitive pricing which was also coupled with reduced scale in the first quarter of the year.
  • The Professional Electronics and Industrial Systems business decreased by (24.2)% to Rs. 176.59 crores in FY21 from Rs. 232.91 crores in FY20.
  • Encouraging order inflows from Healthcare business and also essential services of govt sector orders contributed to increase in revenue in this segment.
  • Segment result declined to Rs 33.81 crores for FY21 from Rs. 54.34 crores in FY20.
  • Due to a few large value orders in the Data Security Solutions business, revenue and profitability were higher in FY20 when compared to FY21.

 

Dividend

  • The Board of Directors recommended a dividend of Rs. 4 per share for FY21.
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