Net sales during the quarter increased 24% year-on-year (YoY) to Rs 1611.56 crore.
On the segmental front, revenue of the Electro-Mechanical Projects and Commercial Air Conditioning Systems business grew 18.1% to Rs 779.96 crore in Q4FY21 compared to Rs 660.39 crore in Q4FY20. Unitary Products revenue grew by 31.1% YoY to Rs 781.81 crore in Q4FY21. The Professional Electronics and Industrial Systems business revenue grew 16.6% YoY to Rs 49.79 crore in Q4FY21.
Revenue growth and improvement in profitability across segments enabled Operating Profit (PBIDTA excluding other income and finance income) to increase to Rs 101.81 crore (6.3% of revenue) for Q4FY21 from Rs 37.33 crore (2.9% of revenue) in Q4FY20.
The company reported 29.9% drop in consolidated net profit to Rs 100.35 crore on 20.5% fall in net sales to Rs 4263.59 crore in the year ended 31 March 2021 over the year ended 31 March 2021.
Blue Star said that with an improvement in the general business sentiments and the early onset of summer in some parts of the country, all business segments witnessed growth in Q4FY21 compared to Q4FY20. The overall business recovery for the year was satisfactory and better than expected at the beginning of the year.
Several cost rationalisation and capital preservation measures coupled with prudent working capital management resulted in generation of healthy cash from operations. These measures enabled the company to close FY21 with a strong balance sheet, healthy liquidity position and net positive cash balance.
Vir Advani, vice chairman & managing director, Blue Star, said, Robust business recovery witnessed in the second half of the financial year enabled us to end the year on a high note. We have gained market share in each product category. While the sustenance of this growth momentum has been challenged by the second wave of the pandemic and the consequent restrictions imposed in many parts of the country, I believe that we have the potential to navigate through the current situation and bounce back once the situation improves.
The companys directors have recommended a dividend of Rs 4 per equity share for FY21.
Blue Star is an air-conditioning and commercial refrigeration company. The company conducts various activities, such as electrical, plumbing and fire-fighting services. Its segments include electro-mechanical projects and packaged air conditioning systems, and unitary products.
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