Blue Star (500067) Q4 96/97 earnings summary

Executive summary

• FY1996-97 total income was Rs 440.85 crore vs Rs 408.91 crore; income from operations grew 12% and profit before non-recurring items and tax rose 22% to Rs 28.30 crore.

• Performance improved despite a broad economic slowdown; market shares advanced across product lines and the year-end order book reached an all-time high.

Financial highlights

• Revenue from sales, work bills and services was Rs 418.57 crore vs Rs 372.53 crore; total income was Rs 440.85 crore vs Rs 408.91 crore.

• Reported PBT was Rs 23.21 crore vs Rs 35.48 crore; PAT was Rs 14.78 crore vs Rs 25.18 crore.

• A Rs 5.53 crore non-recurring labour award charge related to arrears for June 1990–March 1996; prior-year other income included Rs 12.27 crore in capital receipts.

Outlook and guidance

• Year-end unexecuted orders were Rs 347.77 crore, following Rs 425.92 crore of order inflow; substantial unfilled export orders were expected to support current-year growth.

• Dadra production was due to commence shortly; new plant output spans room, split and packaged airconditioners from 1–20 TR.

• Software exports were growing at 50% annually, with staffing planned to rise from 200 to 300 professionals by March 1998.