Blue Star - Geared For AC Demand In Q4: Dolat Capital
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Dolat Capital Report
Blue Star Ltd.’s sales came in-line at Rs 11.2 billion, down by 9% YoY; led by revenue decline of 23% YoY in electro-mechanical segment.
The key positive was the 17% growth in the unitary cooling segment along with strong Ebit margin expansion.
While revenues came in line, Ebitda and profit after tax were better aided by lower operating and interest costs.
Balance sheet was well managed with strong cash flows which has helped reduce debt. The air conditioner business has normalized in Q3 and this trend is expected to continue in Q4.
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