BLUE STAR Announces Quarterly Results (3QFY20); Net Profit Up 48.5%

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BLUE STAR Announces Quarterly Results (3QFY20); Net Profit Up 48.5%
Sat, 1 Feb

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

BLUE STAR Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m10,99012,49512,359-1.1%12.5%
Other incomeRs m10410661-42.5%-41.3%
TurnoverRs m11,09312,60112,420-1.4%12.0%
ExpensesRs m10,56611,75911,7890.3%11.6%
Gross profitRs m351717553-22.9%57.4%
DepreciationRs m1832162233.2%22.4%
InterestRs m131687611.2%-42.4%
Profit before taxRs m141539315-41.5%122.8%
TaxRs m10169120-29.1%1109.1%
Profit after taxRs m132370195-47.2%48.5%
Gross profit margin%3.25.74.5
Effective tax rate%7.031.338.0
Net profit margin%1.22.91.6
* 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 12.5% on a year-on-year (YoY) basis. The expenses were up by 11.6% YoY during the same period.
  • The company's operating profit increased by 57.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 4.5% in 3QFY20 as against 3.2% in 3QFY19.
  • Depreciation charges increased by 22.4% and finance costs declined by 42.4% YoY, respectively.
  • Other income declined by 41.3% YoY during the quarter.
  • Net profit for the quarter increased by 48.5% YoY. Net profit margins during the quarter increased from 1.2% in 3QFY19 to 1.6% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 1.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.3% QoQ during the same period.
  • The company's operating profit declined by 22.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.5% in 3QFY20 as against 5.7% in 2QFY19.
  • Net profit for the quarter declined by 47.2% QoQ, while net profit margins declined from 2.9% in 2QFY19 to 1.6% in 3QFY20.

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

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BLUE STAR Share Price Performance

Over the last one year,BLUE STAR share price has moved up from Rs 601.8 to Rs 835.0, registering a Gain of Rs 233.2 or around 38.8%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,595.8 (up 0.8%). Over the last one year it has moved up from 17,463.0 to 17,595.8, a gain of 133 points (up 0.8%).

Overall, the S&P BSE SENSEX is up 12.5% over the year.

Current Valuations

At the current price of Rs 835.0, the price to earnings (P/E) ratio of BLUE STAR stands at 35.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 8.6 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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