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BLUE STAR Announces Quarterly Results (4QFY19); Net Profit Up 51.4%

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BLUE STAR Announces Quarterly Results (4QFY19); Net Profit Up 51.4%
Tue, 7 May

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

BLUE STAR Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m14,77210,99015,95845.2%8.0%
Other incomeRs m2510461-41.7%140.1%
TurnoverRs m14,79711,09316,01944.4%8.3%
ExpensesRs m13,85710,56614,86440.7%7.3%
Gross profitRs m9633511,068204.2%11.0%
DepreciationRs m18318323729.7%29.5%
InterestRs m107131110-16.0%2.7%
Profit before taxRs m698141782453.1%12.1%
TaxRs m186107-33.3%-96.4%
Profit after taxRs m512132776489.7%51.4%
Gross profit margin%6.53.26.7
Effective tax rate%26.67.00.8
Net profit margin%3.51.24.8
* 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 8.0% on a year-on-year (YoY) basis. The expenses were up by 7.3% YoY during the same period.
  • The company's operating profit increased by 11.0% YoY during the quarter. Consequently, operating profit margins remained same and stood at 6.7% in 4QFY19.
  • Depreciation charges increased by 29.5% and finance costs increased by 2.7% YoY, respectively.
  • Other income increased by 140.1% YoY during the quarter.
  • Net profit for the quarter increased by 51.4% YoY. Net profit margins during the quarter increased from 3.5% in 4QFY18 to 4.8% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 45.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 40.7% QoQ during the same period.
  • The company's operating profit increased by 204.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 6.7% in 4QFY19 as against 3.2% in 3QFY18.
  • Net profit for the quarter increased by 489.7% QoQ, while net profit margins increased from 1.2% in 3QFY18 to 4.8% in 4QFY19.

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 796.1 to Rs 746.0, registering a Loss of Rs 50.1 or around 6.3%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,007.6 (up 0.6%). Over the last one year it has moved down from 19,331.3 to 18,007.6, a gain of 1,324 points (down 6.8%).

Overall, the S&P BSE SENSEX is up 9.9% over the year.

Current Valuations

At the current price of Rs 746.0, the price to earnings (P/E) ratio of BLUE STAR stands at 32.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 8.1 times.

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For the quarter ended December 2018, BLUE STAR has posted a net profit of Rs 132 m (down 30.0% YoY). Sales on the other hand came in at Rs 11 bn (up 11.8% YoY). Read on for a complete analysis of BLUE STAR's quarterly results.

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