Shares of Blue Star Ltd gained 2.02% on Tuesday’s intraday trades and settled at ₹ 1518.90 apiece on the National Stock Exchange (NSE).
After reporting stellar results, the company announced a 1:1 bonus issue. This means that eligible shareholders will receive 1 bonus equity share for every equity share that they hold in the company. Blue Star recently said that it has fixed Tuesday, June 20, 2023, as the record date for ascertaining the eligibility of shareholders for this allotment.
Blue Star manufactures air purifiers, air coolers, water purifiers, cold storage and speciality products. Moreover, it offers turnkey solutions in MEP (Mechanical, Electrical, Plumbing, and Fire-fighting) Projects.
The company’s consolidated revenue from operations grew by 16.4% to ₹ 2623.83 crores for the quarter ended March 31, 2023 (Q4FY23), compared to ₹ 2254.21 crores reported during the corresponding period in the previous year (Q4FY22). Its net profit for the quarter stood at ₹ 225.29 crores compared to ₹ 76.27 crores in Q4FY22, up by 195% YoY.
For the fiscal year (FY23), the company reported revenue from operations of ₹ 7977.32 crores, up 31.6% from ₹6064.08 crores in the preceding fiscal year (FY22). Its profit after tax for FY23 was at ₹ 400.69 crores, compared to ₹ 168.00 crores in FY22.
With a market capitalization of ₹ 14,430 crores, Blue Star is a small-cap company. It has a high return on equity of 34.11% and an ideal debt-to-equity ratio of 0.50. Its shares were trading at a price-to-earnings ratio (P/E) of 35.79 and it has a dividend yield of 0.67%.
The company’s promoters hold a 38.78% stake in it, followed by retail investors with 26.13%, mutual funds with 23.95%, foreign institutions with 10.45% and other domestic institutions with 0.69%.
Written By Simran Bafna
