Blue Star Limited · NSE:BLUESTARCO
Blue Star — Q3 FY2021 Earnings Presentation
37 slides from Blue Star's earnings presentation, Jan 29, 2021
Slide 1: Investors' Presentation – Q3FY21 cover letter to exchanges
January 29, 2021 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Bandra (East), Mumbai – 400 001 Mumbai – 400 051 BSE Scrip Code: 500067 NSE Symbol: BLUESTARCO Dear Sir/Ma’am, Sub: Investors’ Presentati
Slide 2: Investor Presentation – Q3FY21 & YTD Q3FY21
Blue Star Limited Investor Presentation – Q3FY21 & YTD Q3FY21 January 29, 2021 1
Slide 3: About Blue Star
About Blue Star • India’s leading air-conditioning, commercial refrigeration and MEP contracting company • Total Revenue from Operations: ~ Rs. 5360 crores • Employee Strength: 2885 • 5 manufacturing facilities; 32 offices; 3880 channel partners • Presence in 18 international markets in the Middle E
Slide 4: Blue Star – Vision & Credo
Blue Star – Vision & Credo Vision : “To dream, to strive, to care and, above all to be the best in everything we do.” Credo : “I am Blue Star. I take pride in delivering a world- class customer experience.” 3
Slide 5: Governance Structure
GovernanceStructure Governance Structure Chairmen Emeriti Ashok M Advani Suneel M Advani Board of Directors Shailesh Haribhakti Vir S Advani B Thiagarajan Chairman Vice Chairman & Managing Director Managing Director Sam Balsara Rumjhum Chatterjee Anil Harish Arvind K Singhal Rajiv R Lulla Sunaina Mu
Slide 6: Business Segments
Business Segments 5
Slide 7: Segment I: Electro-Mechanical Projects and Commercial Air Conditioning Systems
Segment I Electro-Mechanical Projects and Commercial Air Conditioning Systems 6
Slide 8: Electro-Mechanical Projects
Electro-Mechanical Projects • Design, engineering, procurement and execution of MEP projects in buildings, factories and infrastructure (Metros & Airports) segments • Large central air conditioning & ventilation projects • Electrical projects • Plumbing projects • Fire-fighting projects • Mechanical
Slide 9: Commercial Air Conditioning Systems
Commercial Air Conditioning Systems • Complete range of energy-efficient Packaged and Ducted split air conditioners • Innovative New range of Packaged & Ducted Split air conditioners with Virus Deactivation Technology(VDT) • Innovative new generation Inverter ducted system • VRF V Plus, the fifth ge
Slide 10: Commercial Air Conditioning Systems
Commercial Air Conditioning Systems • Highly efficient 5 Star rated Configured Oil Free chillers • Mix and Match Configured Series- Air- Cooled and Water-Cooled Screw chillers • Energy-efficient 5 Star VFD Screw Chillers • Energy-efficient 3 Star Inverter scroll chillers • Process chillers for indus
Slide 11: After Sales Service
After Sales Service • India’s largest air conditioning and refrigeration service provider • Maintaining around 2 million tonnes of air conditioning and refrigeration equipment • Reach to more than 4000 towns handling > 1.2 million service calls a year • Runs an excellence programme titled “Gold Stan
Slide 12: International Business
International Business • Headquartered and managed by the Company’s wholly owned subsidiary at Dubai. • Offers Air Conditioning and Refrigeration products, after-sales service as well as system integration in global markets. • Product portfolio includes Unitary products, DX Commercial, refrigeration
Slide 13: Some of our prestigious projects
Some of our prestigious projects Bangalore Metro Gift City Tata Power - HT Substation Tata Steel 12 Chhatrapati Shivaji International Airport-T2 Parliament House
Slide 14: Some of our prestigious international projects
Some of our prestigious international projects HVAC works in Doha Live, Qatar Al Bayt International Stadium PAVILLION 2, BUKIT JALIL MALL, Malaysia HOSPITAL CYBERJAYA, Malaysia BB TOWER, Malaysia Bowyer Wick Office & Warehouse 13
Slide 15: Segment II: Unitary Products
Segment II Unitary Products 14
Slide 16: Room Air Conditioners
Room Air Conditioners • Installed base of over two million units. • Products available in 6000 outlets in more than 650 locations across the country. • Focus on inverter technology, energy efficient products and ACs with purification technologies. • Focus on residential as well as corporate and comm
Slide 17: Low penetrated market and growing middle class offer opportunity for growth
Low penetrated market and growing middle class purchasing power offer immense opportunity for growth… Market Size (Units in millions) – FY20 Penetration % - FY20 140.0 60.0% 80.0 30.0% 5.4 6.0% Global China India Global China India Blue Star Market Share (%) 12.3% 12.5% 11.1% 11.5% 10.5% FY16 FY17 F
Slide 18: Commercial Refrigeration Products
Commercial Refrigeration Products • Wide range of commercial refrigeration equipment • Market leader in most of the segments • Products having latest technology with innovative features: – Deep Freezers – Bottle Coolers – Visi Coolers/Freezers – Storage Water Coolers/Dispensers – Bottled Water Dispe
Slide 19: Water Purifiers
Water Purifiers • Comprehensive range of stylish value for money as well as premium and differentiated range of RO+UV+UF products across price points from Rs 7,900 to Rs 46,900 • Unique features such as cold and hot water, filter change alerts, aqua taste boosters and electronic dispensing • Availab
Slide 20: Manufacturing Facilities
Manufacturing Facilities DADRA AHMEDABAD WADA 5 State of the art Automated Factories Kala Amb Kala Amb - – Village Rampur Ogli (HP) Jattan (HP) 19
Slide 21: Manufacturing Facilities
Manufacturing Facilities • Specialise in manufacturing a variety of highly engineered and custom- built products. • Manufacturing footprint of 1 lakh square meter. • Over 300 models manufactured across 25 product lines. • Lean manufacturing and world-class practices. • Green Building initiative - Wa
Slide 22: Manufacturing Facilities
Manufacturing Facilities • Automation of processes using robots and Cobots • Using Product Life Cycle Management to improve New product Introduction process • Improved efficiency of operations through Digital Work Instruction, Augmented reality, Auto guided vehicle, Additive manufacturing, Poka Yoke
Slide 23: Research & Development
Research & Development • Department of Scientific & Industrial Research (DSIR) approved R&D facilities • Consistent investment in R&D to enhance company’s product offerings and technical capabilities • Focus on energy efficient and sustainable products and technologies • High level of product develo
Slide 24: Segment III: Professional Electronics & Industrial Systems
Segment III Professional Electronics & Industrial Systems 23
Slide 25: Professional Electronics & Industrial Systems
Professional Electronics & Industrial Systems • Managed by the Company’s wholly owned subsidiary, Blue Star Engineering & Electronics Ltd • Lines of Business include: – Healthcare Systems: MRI & CT Scanner – Data Security Solutions: Payment HSM, PKI, Encryption – Infra Security System: Video Surveil
Slide 26: Financial Performance Q3FY21
Financial Performance Q3FY21 25
Slide 27: Financial Performance – Q3FY21
Financial Performance – Q3FY21 Revenue (Rs Cr) EBITDA (Rs Cr) 1236 82 1124 57 Q3FY20 Q3FY21 Q3FY20 Q3FY21 PBT (Before exceptional items) (Rs Cr) Earnings per share (EPS)* (Rs ) 49 3.81 33 2.03 Q3FY20 Q3FY21 Q3FY20 Q3FY21 *Not Annualized 26
Slide 28: Segment Performance – Q3FY21
Segment Performance – Q3FY21 Segment Revenue (Rs Cr) Segment 1 Segment 2 Segment 3 57 759 493 45 420 585 Q3FY20 Q3FY21 Q3FY20 Q3FY21 Q3FY20 Q3FY21 Segment Result (Rs Cr) Segment 1 Segment 2 Segment 3 39 18 39 34 8 8 Q3FY20 Q3FY21 Q3FY20 Q3FY21 Q3FY20 Q3FY21 27
Slide 29: Financial Performance YTD Q3FY21
Financial Performance YTD Q3FY21 28
Slide 30: Financial Performance – YTD Q3FY21
Financial Performance – YTD Q3FY21 Revenue (Rs Cr) EBITDA (Rs Cr) 245 4061 138 2652 YTD Q3FY20 YTD Q3FY21 YTD Q3FY20 YTD Q3FY21 PBT (Before exceptional items) (Rs Cr) Earnings per share (EPS)* (Rs ) 197 13.95 42 3.36 YTD Q3FY20 YTD Q3FY21 YTD Q3FY20 YTD Q3FY21 *Not Annualized 29
Slide 31: Balance Sheet indicators – YTD Q3FY21
Balance Sheet indicators – YTD Q3FY21 Net Borrowing (Rs Cr) Debt / Equity (times) 0.2 0.2 128 131 YTD Q3FY20 YTD Q3FY21 YTD Q3FY20 YTD Q3FY21 Capital Turns (times) Return on Capital Employed (%) 5.6 4.4 31% 13% YTD Q3FY20 YTD Q3FY21 YTD Q3FY20 YTD Q3FY21 30
Slide 32: Segment 1: EMP and Commercial Air-Conditioning systems
Segment 1: EMP and Commercial Air-Conditioning systems Segment Revenue (Rs Cr) Segment Result (Rs Cr) 2166 117 1439 58 YTD Q3FY20 YTD Q3FY21 YTD Q3FY20 YTD Q3FY21 Capital Employed (Rs Cr) Return on Capital Employed (%) 562 461 28% 12% YTD Q3FY20 YTD Q3FY21 YTD Q3FY20 YTD Q3FY21 31
Slide 33: Segment 1: Orders Booked and Carried forward Orders
Segment 1: EMP and Commercial Air-Conditioning systems Orders Booked Carried forward Orders (Rs Cr) (Rs Cr) 3039 2645 2312 1588 Growth of 11% YTD Q3FY20 YTD Q3FY21 YTD Q3FY20 YTD Q3FY21 32
Slide 34: Segment 2: Unitary Products
Segment 2: Unitary Products Segment Revenue (Rs Cr) Segment Result (Rs. Cr) 1704 1086 119 47 YTD Q3FY20 YTD Q3FY21 YTD Q3FY20 YTD Q3FY21 Capital Employed (Rs Cr) Return on Capital Employed (%) 50% 317 281 30% YTD Q3FY20 YTD Q3FY21 YTD Q3FY20 YTD Q3FY21 33
Slide 35: Segment 3: Professional Electronics & Industrial Systems
Segment 3: Professional Electronics & Industrial Systems Segment Revenue (Rs Cr) Segment Result (Rs. Cr) 190 127 47 27 YTD Q3FY20 YTD Q3FY21 YTD Q3FY20 YTD Q3FY21 Capital Employed The segment operated on negative capital employed in both the periods. 34
Slide 36: Borrowing Trend
Borrowing Trend 592 246 128 131 Dec 19 Dec 20 Gross Borrowing Net Borrowing 35
Slide 37: Thank you
Thank you 36