Hold Blue Star, target price Rs 1270: ICICI Securities

ICICI Securities has hold call on Blue Star with a target price of Rs 1270. The current market price of Blue Star Ltd. is Rs 1215.65.
Blue Star Ltd., incorporated in the year 1949, is a Mid Cap company (having a market cap of Rs 11723.81 Crore) operating in Consumer Durables sector.

Blue Star Ltd. key Products/Revenue Segments include Air Conditioners, Sale of services, Other Operating Revenue for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 1584.79 Crore, down -19.99 % from last quarter Total Income of Rs 1980.83 Crore and up 27.00 % from last year same quarter Total Income of Rs 1247.86 Crore. Company has reported net profit after tax of Rs 42.69 Crore in latest quarter.

The company’s top management includes Mr.Shailesh Haribhakti, Mr.Arvind K Singhal, Mr.Sam Balsara, Mrs.Rumjhum Chatterjee, Mr.Anil Harish, Mr.Rajiv R Lulla, Mr.Dinesh N Vaswani, Ms.Sunaina Murthy, Mr.B Thiagarajan, Mr.Vir S Advani, Mrs.Anita Ramachandra. Company has Deloitte Haskins & Sells LLP as its auditors. As on 30-06-2022, the company has a total of 10 Crore shares outstanding.



Promoter/FII Holdings
Promoters held 38.78 per cent stake in the company as of 30-Jun-2022, while FIIs owned 12.25 per cent, DIIs 22.06 per cent.