Blue Star Limited · NSE:BLUESTARCO
Blue Star — Q3 FY2022 Earnings Presentation
39 slides from Blue Star's earnings presentation, Feb 3, 2022
Slide 1: Cover letter to stock exchanges
Blue Star Limited BLUE STAR Band Box House, 4th Floor, 254 D, Dr Annie Besant Road, Worli, Mumbai 400 030, India. T : +91 22 6654 4000 F : +91 22 6654 4001 www.bluestarindia.com February 3, 2022 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Bloc
Slide 2: Investor Presentation – Q3FY22 & YTD Q3FY22
Blue Star Limited Investor Presentation – Q3FY22 & YTD Q3FY22 February 3, 2022 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. 4264 crores • Employee Strength: 2650 • 5 manufacturing facilities; 32 offices; ~3800 channel partners • Presence in 18 international markets in the Middle
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 (including Airports), factories (including Data centres) and infrastructure (Metro rail, Electrical substations & Rural water supply) segments • Large central air conditioning & ventilation proj
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 Special Filters and UVGI • Innovative new generation Inverter ducted system • VRF V Plus, the fifth generation V
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: Commercial Air Conditioning Systems
Commercial Air Conditioning Systems • Large Capacity Mix and Match Configured Series- Screw chillers • 5th Generation Side discharge VRF 10 10
Slide 12: 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 • Backed by our value proposition “Gold Standard service delivery”, we extensively expanded our service reach to Tier 2, 3 &
Slide 13: 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 14: Some of our prestigious projects
Some of our prestigious projects Bangalore Metro Gift City Tata Power - HT Substation Tata Steel 13 Chhatrapati Shivaji International Airport-T2 Parliament House
Slide 15: 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 14
Slide 16: Segment II: Unitary Products
Segment II Unitary Products 15
Slide 17: Room Air Conditioners
Room Air Conditioners • Installed base of over two million units. • Products available in 7500 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 18: 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) – FY21 Penetration % - FY21 120.0 60.0% 70.0 30.0% 4.8 6.0% Global China India Global China India Blue Star Market Share (%) 12.3% 12.5% 13.0% 11.1% 11.5% FY17 FY18 F
Slide 19: 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 20: 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 34,900 • Unique features such as cold and hot water, filter change alerts, aqua taste boosters and electronic dispensing • Availab
Slide 21: Manufacturing Facilities
Manufacturing Facilities Dadra Sri City * Wada State of the art Automated Factories Kala Amb - Ahmedabad Rampur Jattan (HP) Kala Amb – Village Ogli (HP) 20 * Under Construction; to be commissioned by Q3FY23
Slide 22: 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 23: 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 24: Research & Development
Research & Development • 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 development and testing capabilities with several patents for new breakthrough product
Slide 25: Segment III: Professional Electronics & Industrial Systems
Segment III Professional Electronics & Industrial Systems 24
Slide 26: 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 – Communication Systems: Satellite Tes
Slide 27: ESG Practices
ESG PRACTICES
Slide 28: Value creation through integrated ESG practices
Value creation through integrated ESG practices ENVIRONMENT • Industry leader in energy-efficiency for Room ACs, Deep Freezers and Screw Chillers with VFDs • Number 1 in E-Waste compliance in the Room AC industry • Part of the India-EU Climate Dialogue panel coordinated by TERI • Focus on Circular E
Slide 29: Financial Performance Q3FY22
Financial Performance Q3FY22 28
Slide 30: Financial Performance – Q3FY22
Financial Performance – Q3FY22 Revenue (Rs Cr) EBITDA (Rs Cr) Growth of 34% Growth of 11% 1506 91 1124 82 Q3FY21 Q3FY22 Q3FY21 Q3FY22 Profit before tax (Rs Cr) Earnings per share (EPS)* (Rs ) Growth of 41% 70 4.94 3.82 50 Q3FY21 Q3FY22 Q3FY21 Q3FY22 *Not Annualized 29
Slide 31: Segment Performance – Q3FY22
Segment Performance – Q3FY22 Segment Revenue (Rs Cr) Segment 1 Segment 2 Segment 3 Growth of 42% Growth of 24% Growth of 47% 830 610 493 585 67 45 Q3FY21 Q3FY22 Q3FY21 Q3FY22 Q3FY21 Q3FY22 Segment Result (Rs Cr) Segment 1 Segment 2 Segment 3 Growth of 54% Growth of 55% 52 39 39 34 13 8 Q3FY21 Q3FY22
Slide 32: Financial Performance YTD Q3FY22
Financial Performance YTD Q3FY22 31
Slide 33: Financial Performance – YTD Q3FY22
Financial Performance – YTD Q3FY22 Revenue (Rs Cr) EBITDA (Rs Cr) Growth of 43% Growth of 48% 3798 2652 204 138 YTD Q3FY21 YTD Q3FY22 YTD Q3FY21 YTD Q3FY22 Profit before tax (Rs Cr) Earnings per share (EPS)* (Rs ) Growth of 215% 137 9.52 3.38 43 YTD Q3FY21 YTD Q3FY22 YTD Q3FY21 YTD Q3FY22 *Not Annua
Slide 34: Balance Sheet indicators – YTD Q3FY22
Balance Sheet indicators – YTD Q3FY22 Net Borrowing (Rs Cr) Debt / Equity (times) 165 0.18 131 0.16 YTD Q3FY21 YTD Q3FY22 YTD Q3FY21 YTD Q3FY22 Capital Turns (times) Return on Capital Employed (%) 5.6 4.4 30% 13% YTD Q3FY21 YTD Q3FY22 YTD Q3FY21 YTD Q3FY22 33
Slide 35: Segment 1: EMP and Commercial Air-Conditioning systems
Segment 1: EMP and Commercial Air-Conditioning systems Segment Revenue (Rs Cr) Segment Result (Rs Cr) Growth of 43% Growth of 105% 119 2058 1439 58 YTD Q3FY21 YTD Q3FY22 YTD Q3FY21 YTD Q3FY22 Capital Employed (Rs Cr) Return on Capital Employed (%) 461 38% 409 12% YTD Q3FY21 YTD Q3FY22 YTD Q3FY21 YTD
Slide 36: 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) Growth of 39% Growth of 2% 3111 3039 2213 1588 Growth of 11% YTD Q3FY21 YTD Q3FY22 YTD Q3FY21 YTD Q3FY22 35
Slide 37: Segment 2: Unitary Products
Segment 2: Unitary Products Segment Revenue (Rs Cr) Segment Result (Rs. Cr) Growth of 45% Growth of 79% 1570 84 1086 47 YTD Q3FY21 YTD Q3FY22 YTD Q3FY21 YTD Q3FY22 Capital Employed (Rs Cr) Return on Capital Employed (%) 34% 569 30% 281 YTD Q3FY21 YTD Q3FY22 YTD Q3FY21 YTD Q3FY22 36
Slide 38: Segment 3: Professional Electronics & Industrial Systems
Segment 3: Professional Electronics & Industrial Systems Segment Revenue (Rs Cr) Segment Result (Rs. Cr) Growth of 34% Growth of 6% 170 27 28 127 YTD Q3FY21 YTD Q3FY22 YTD Q3FY21 YTD Q3FY22 37
Slide 39: Thank you
Thank you 38