Blue Star - UCP Performance Strong, Project Execution Disappoints In Q3: Motilal Oswal
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Motilal Oswal Report
Blue Star Ltd.’s Q3 FY21 revenue was 7% below our estimate, with the miss attributable to electro mechanical projects and services segment.
Operating profit stood higher than our estimate on better sales mix and continuation of cost rationalization measures.
Net borrowing reduced by Rs 2.1 billion to Rs 1.3 billion (versus Rs 3.4 billion in H1 FY21 and Rs 1.3 billion in nine-months FY20).
The company continues to maintain higher liquidity in uncertain times as gross debt stood at Rs 5.9 billion.
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