Blue Star Limited has achieved a significant landmark by completing 75 successful years of operations. To commemorate this historic milestone, the company rang the opening and closing bells at the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), respectively. The company also released a special cover with a cancelled stamp issued by the Department of India Post to mark this momentous occasion. In this Platinum Jubilee year, the company increased its basic dividend from Rs 7.50 to Rs 8.50 per share, and added a special Platinum Jubilee Rs 1.50 dividend, to give its shareholders a record Rs 10 for each Rs 2 share.
As Blue Star takes its first steps from Platinum Jubilee towards its centenary, the company has ambitious growth plans. Its rolling, 3-year strategic plan has a strong emphasis on revenue growth, profitability improvement and productivity enhancement. The company aspires to grow faster than the market; improve profitability through backward integration; harness the power of digital technologies for greater customer intimacy and efficiency; differentiate itself through excellence programmes; continue to improve its return on capital employed; and invest in human capital.
The company is on its way to establishing itself in new lines of businesses such as water and air purifiers, air coolers, and engineering facility management. The company’s integrated business model of manufacturer, installer and after-sales service provider, offers comprehensive solutions for the residential, commercial, and infrastructure segments. With a turnover of over Rs 4600 crore, it has a network of 32 offices, five modern manufacturing facilities, over 2800 employees, and a robust channel management system comprising 3000 channel partners and 1000 retailers as well as 800 service associates reaching out to customers in over 800 towns. It exports to 19 countries across the Middle East, Africa, SAARC and ASEAN regions.
“We are proud to ring in 75 years of engineering excellence. We are witnessing a paradigm shift in consumer expectations and hence our credo: I am Blue Star. I am honored to have served this company for almost 50 years now and the journey has been really exhilarating. Over the years, Blue Star has sustained steady growth and profitability. We are confident that our business model combined with the vigor and agility of our young leadership, will lead our way to our centennial.”
Suneel M Advani
Chairman of the Board,
Blue Star Limited