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Blue Star plans to double AC production capacity

Blue Star has announced that with the commissioning of its proposed AC plant in Andhra Pradesh, its capacity will double to 10 lakh units per annum by 2022. The company is building a Rs 180-crore plant at Sri City in Andhra, the work on which will begin in 2021 and will be completed by 2022. The company currently has an annual capacity of 5 lakh units at its Sirmaur plant in Himachal Pradesh.

The company has recently released its annual results. It has reported revenue from operations of Rs 5234.84 crore for the year ended March 31, 2019 on a consolidated basis, compared to Rs 4648.13 crore during FY18, representing a growth of 13 percent. The operating profit (PBIDTA excluding other income and finance income) for the year was Rs 346.54 crore compared to Rs 265.90 crore in FY18, a growth of 30 percent. Net profit for the year increased by 32 percent to Rs 190.06 crore compared to Rs 143.96 crore in the previous year, mainly due to higher margins from specific segments and overall control on costs. Earnings per share rose to Rs 19.75 vis-à-vis Rs 15.03 in the previous year, an increase of 31 percent.

Unitary products revenues in the year increased by 9 percent to Rs 2268.97 crore in FY19 from Rs 2088.73 crore in FY18. Revenue growth for the year was impacted by a poor summer in 2018, which adversely affected growth of the room air conditioners business, primarily in the first half of the year. Segment results grew by 11 percent to Rs 185.92 crore in FY19 from Rs 168.05 crore in FY18.

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