Financials Blue Star Limited NSE India S.E.

Equities

BLUESTARCO

INE472A01039

Electrical Components & Equipment

Delayed NSE India S.E. 12:08:27 2024-07-12 am EDT 5-day change 1st Jan Change
1,738 INR -1.17% Intraday chart for Blue Star Limited +1.99% +83.66%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 65,320 44,367 90,289 101,240 132,696 361,748 - -
Enterprise Value (EV) 1 67,756 46,515 88,691 101,872 134,701 256,688 357,767 356,673
P/E ratio 34.4 x 31 x 90 x 60.3 x 33.1 x 61.2 x 62.9 x 50.5 x
Yield 1.47% 2.17% 0.43% 0.95% 0.87% 0.55% 0.45% 0.53%
Capitalization / Revenue 1.25 x 0.83 x 2.12 x 1.67 x 1.66 x 2.7 x 3.06 x 2.6 x
EV / Revenue 1.29 x 0.87 x 2.08 x 1.69 x 1.69 x 2.65 x 3.03 x 2.57 x
EV / EBITDA 19.6 x 16.4 x 37 x 29.4 x 27.3 x 38.6 x 41 x 33.6 x
EV / FCF 42.2 x 12.5 x 31 x -80.8 x -119 x -169 x 114 x 88.8 x
FCF Yield 2.37% 7.98% 3.23% -1.24% -0.84% -0.59% 0.88% 1.13%
Price to Book 7.46 x 5.07 x 10.2 x 9.93 x - 10 x 11.9 x 10.3 x
Nbr of stocks (in thousands) 192,628 192,628 192,628 192,628 192,628 205,615 - -
Reference price 2 339.1 230.3 468.7 525.6 688.9 1,759 1,759 1,759
Announcement Date 5/2/19 5/12/20 5/6/21 5/5/22 5/4/23 5/2/24 - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 52,348 53,602 42,636 60,456 79,773 96,854 118,099 139,045
EBITDA 1 3,465 2,828 2,398 3,465 4,928 6,649 8,723 10,612
EBIT 1 2,963 1,948 1,475 2,605 4,080 5,673 7,548 9,287
Operating Margin 5.66% 3.63% 3.46% 4.31% 5.11% 5.86% 6.39% 6.68%
Earnings before Tax (EBT) 1 2,511 2,060 1,452 2,498 5,554 5,572 7,682 9,499
Net income 1 1,901 1,432 1,004 1,677 4,005 4,150 5,763 7,103
Net margin 3.63% 2.67% 2.35% 2.77% 5.02% 4.28% 4.88% 5.11%
EPS 2 9.870 7.435 5.210 8.720 20.80 20.77 27.96 34.84
Free Cash Flow 1 1,606 3,714 2,863 -1,261 -1,130 -1,517 3,149 4,016
FCF margin 3.07% 6.93% 6.71% -2.09% -1.42% -1.57% 2.67% 2.89%
FCF Conversion (EBITDA) 46.34% 131.33% 119.38% - - 12.74% 36.11% 37.84%
FCF Conversion (Net income) 84.49% 259.25% 285.29% - - 21.01% 54.65% 56.54%
Dividend per Share 2 5.000 5.000 2.000 5.000 6.000 7.000 7.971 9.327
Announcement Date 5/2/19 5/12/20 5/6/21 5/5/22 5/4/23 5/2/24 - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 11,239 16,116 10,520 12,397 15,062 22,476 19,703 15,762 17,882 26,238 22,260 18,262 21,148 31,572 29,860
EBITDA 1 815.6 1,018 422.3 707 905.9 1,430 1,233 855.9 1,047 1,792 1,450 1,108 1,408 2,270 2,200
EBIT 556.5 769.6 221.8 - 681.4 1,199 1,013 610.7 - - - 754 1,122 2,047 1,827
Operating Margin 4.95% 4.78% 2.11% - 4.52% 5.33% 5.14% 3.87% - - - 4.13% 5.31% 6.48% 6.12%
Earnings before Tax (EBT) 488.2 1,033 194 472.1 699.6 1,132 1,012 575.8 804 3,171 - 862.5 1,091 2,051 2,098
Net income 1 367.2 679.7 126.9 313.6 475 761.6 742.5 426.4 584.1 2,252 833.5 598.5 867.1 1,498 1,434
Net margin 3.27% 4.22% 1.21% 2.53% 3.15% 3.39% 3.77% 2.71% 3.27% 8.58% 3.74% 3.28% 4.1% 4.74% 4.8%
EPS 1.905 3.530 0.6600 1.635 2.470 3.960 3.860 2.215 3.030 11.64 - 3.900 5.475 7.250 8.620
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 1/29/21 5/6/21 8/4/21 10/28/21 2/2/22 5/5/22 8/4/22 11/3/22 1/31/23 5/4/23 8/3/23 - - - -
1INR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,436 2,148 - 631 2,005 - - -
Net Cash position 1 - - 1,599 - - 4,597 3,982 5,075
Leverage (Debt/EBITDA) 0.7029 x 0.7595 x - 0.1822 x 0.4069 x - - -
Free Cash Flow 1 1,606 3,714 2,863 -1,261 -1,130 -1,517 3,149 4,016
ROE (net income / shareholders' equity) 22.5% 17.2% 12% 17.6% 23.6% 21.1% 20.3% 21.6%
ROA (Net income/ Total Assets) - 4.22% - - - 6.88% 7.1% 8.15%
Assets 1 - 33,951 - - - 60,327 81,172 87,157
Book Value Per Share 2 45.40 45.40 46.00 52.90 - 127.0 147.0 171.0
Cash Flow per Share 2 - - - - - 14.10 25.30 32.20
Capex 1 1,028 860 635 2,179 3,604 4,410 3,351 2,541
Capex / Sales 1.96% 1.61% 1.49% 3.6% 4.52% 4.55% 2.84% 1.83%
Announcement Date 5/2/19 5/12/20 5/6/21 5/5/22 5/4/23 5/2/24 - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
21
Last Close Price
1,759 INR
Average target price
1,484 INR
Spread / Average Target
-15.62%
Consensus