Blue Star Limited · NSE:BLUESTARCO
Blue Star — Q4 FY2021 Earnings Presentation
37 slides from Blue Star's earnings presentation, May 7, 2021
Slide 1: Investor Presentation Q4FY21 & FY21 exchange cover letter
May 7, 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/Madam, Sub: Investor Presentation – Q4F
Slide 2: Blue Star Limited Investor Presentation – Q4FY21 & FY21
Blue Star Limited Investor Presentation – Q4FY21 & FY21 May 7, 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. 4264 crores • Employee Strength: 2650 • 5 manufacturing facilities; 32 offices; ~3700 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) segments • Large central air conditioning & ventilation projects • Electrical projects • Plumbing project
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: 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 7000 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 offers immense 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 AHMEDABAD WADA 5 State of the art Automated Factories Kala Amb Kala Amb - – Village Rampur Ogli (HP) Jattan (HP) 20
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 • 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 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: Financial Performance Q4FY21
Financial Performance Q4FY21 26
Slide 28: Financial Performance – Q4FY21
Financial Performance – Q4FY21 Revenue (Rs Cr) EBITDA (Rs Cr) 1612 1299 102 37 Q4FY20 Q4FY21 Q4FY20 Q4FY21 PBT (Before exceptional items) (Rs Cr) Earnings per share (EPS)* (Rs ) 7.06 103 13 0.92 Q4FY20 Q4FY21 Q4FY20 Q4FY21 *Not Annualized 27
Slide 29: Segment Performance – Q4FY21
Segment Performance – Q4FY21 Segment Revenue (Rs Cr) Segment 1 Segment 2 Segment 3 780 782 50 660 596 43 Q4FY20 Q4FY21 Q4FY20 Q4FY21 Q4FY20 Q4FY21 Segment Result (Rs Cr) Segment 1 Segment 2 Segment 3 49 62 8 7 44 3 Q4FY20 Q4FY21 Q4FY20 Q4FY21 Q4FY20 Q4FY21 28
Slide 30: Financial Performance FY21
Financial Performance FY21 29
Slide 31: Financial Performance – FY21
Financial Performance – FY21 Revenue (Rs Cr) EBITDA (Rs Cr) 5360 283 4264 240 FY20 FY21 FY20 FY21 PBT (Before exceptional items) (Rs Cr) Earnings per share (EPS) (Rs ) 210 145 14.87 10.42 FY20 FY21 FY20 FY21 30
Slide 32: Balance Sheet indicators – FY21
Balance Sheet indicators – FY21 Net Borrowing (Rs Cr) Debt / Equity (times) 155 0.2 -151 * 0.0 FY20 FY21 FY20 FY21 Capital Turns (times) Return on Capital Employed (%) 27% 25% 5.7 5.5 FY20 FY21 FY20 FY21 *Net Positive Cash Balance 31
Slide 33: Segment 1: EMP and Commercial Air-Conditioning systems
Segment 1: EMP and Commercial Air-Conditioning systems Segment Revenue (Rs Cr) Segment Result (Rs Cr) 2827 120 2219 106 FY20 FY21 FY20 FY21 Capital Employed (Rs Cr) Return on Capital Employed (%) 448 424 25% 24% FY20 FY21 FY20 FY21 32
Slide 34: 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) 3105 2813 2839 2245 Growth of 11% FY20 FY21 FY20 FY21 33
Slide 35: Segment 2: Unitary Products
Segment 2: Unitary Products Segment Revenue (Rs Cr) Segment Result (Rs. Cr) 2301 1868 162 109 FY20 FY21 FY20 FY21 Capital Employed (Rs Cr) Return on Capital Employed (%) 42% 41% 304 229 FY20 FY21 FY20 FY21 34
Slide 36: Segment 3: Professional Electronics & Industrial Systems
Segment 3: Professional Electronics & Industrial Systems Segment Revenue (Rs Cr) Segment Result (Rs. Cr) 233 54 177 34 FY20 FY21 FY20 FY21 Capital Employed The segment operated on negative capital employed in both the periods. 35
Slide 37: Thank you
Thank you 36