BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Blue Star Ltd. delivered revenue growth of 37% YoY to Rs 12.4 billion in Q2 FY22 led by revival of business in all segments.
Growth in room air conditioner segment was in-line with industry growth of 35% YoY and the company’s pan-India market share remained intact at 13%.
Unitary cooling segment margin expanded 140 basis points due to 12-14% price hikes taken since January. However, overall margin remained impacted as operational costs increased driven by business momentum.
Blue Star has commenced construction of a greenfield facility for room ACs in Sri City.
Given the healthy pace of execution in projects business supported by pick-up in orders, we upgrade our earnings estimates by 4.6% and 11% for FY22E and FY23E respectively.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR