BLUE STAR Announces Quarterly Results (1QFY20); Net Profit Down 17.7%

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BLUE STAR Announces Quarterly Results (1QFY20); Net Profit Down 17.7%
Tue, 27 Aug

BLUE STAR has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

BLUE STAR Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m15,08915,95815,755-1.3%4.4%
Other incomeRs m2361217258.0%845.9%
TurnoverRs m15,11216,01915,971-0.3%5.7%
ExpensesRs m13,71214,86414,606-1.7%6.5%
Gross profitRs m1,5001,0681,1487.4%-23.5%
DepreciationRs m161237203-14.2%26.4%
InterestRs m12111082-25.2%-32.0%
Profit before taxRs m1,2417821,07937.9%-13.1%
TaxRs m32573254827.3%0.1%
Profit after taxRs m916776754-2.8%-17.7%
Gross profit margin%9.96.77.3
Effective tax rate%26.20.830.1
Net profit margin%6.14.84.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 4.4% on a year-on-year (YoY) basis. The expenses were up by 6.5% YoY during the same period.
  • The company's operating profit declined by 23.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.3% in 1QFY20 as against 9.9% in 1QFY19.
  • Depreciation charges increased by 26.4% and finance costs declined by 32.0% YoY, respectively.
  • Other income increased by 845.9% YoY during the quarter.
  • Net profit for the quarter declined by 17.7% YoY. Net profit margins during the quarter declined from 6.1% in 1QFY19 to 4.7% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 1.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 1.7% QoQ during the same period.
  • The company's operating profit increased by 7.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 7.3% in 1QFY20 as against 6.7% in 4QFY19.
  • Net profit for the quarter declined by 2.8% QoQ, while net profit margins declined from 4.8% in 4QFY19 to 4.7% in 1QFY20.

To see how BLUE STAR has performed over the last eight quarters,please visit here.

BLUE STAR Share Price Performance

Over the last one year,BLUE STAR share price has moved up from Rs 684.5 to Rs 740.0, registering a Gain of Rs 55.6 or around 8.1%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,355.4 (up 2.6%). Over the last one year it has moved down from 18,882.7 to 17,355.4, a gain of 1,527 points (down 8.1%).

Overall, the S&P BSE SENSEX is down 2.7% over the year.

Current Valuations

At the current price of Rs 740.0, the price to earnings (P/E) ratio of BLUE STAR stands at 35.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 8.0 times.

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For the quarter ended September 2020, BLUE STAR has posted a net profit of Rs 150 m (down 59.4% YoY). Sales on the other hand came in at Rs 9 bn (down 27.8% YoY). Read on for a complete analysis of BLUE STAR's quarterly results.

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