Blue Star Ltd — Board/Management Information 2019

Feb 18, 2019

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February 16, 2019

National Stock Exchange of India Limited Exchange Plaza, C1-, Block G, Bandra Kurla Complex, Bandra (East), Mumbai 400 051 NSE Symbol: BLUESTARCO

Dear Sir,

Ref:

(i) Our letter dated February 5, 2019, intimating outcome of the Board Meeting; and (ii) Your e-mail dated February 13, 2019, seeking clarification

Sub: Reply to clarification

With reference to the aforesaid e-mail, we would like to state that the Board at its meeting held on February 5, 2019, inter alia approved the proposal to the Company’s exit from Blue Star Oman Electro-Mechanical Company LLC, (BSOEMC), its joint venture in Oman, subject to regulatory and other compliance as may be applicable .

In this connection, kindly find below our response to the clarifications sought by you:

Sr.**No. **	Particulars	Reply	Reply	Reply	Reply
1	Date of closure or estimatedtime of closure of the jointventure	The Company is evaluating and working on various options to exitfrom the joint venture including but not limited to the liquidation ofBSOEMC. Therefore, it is not in a position to provide the estimatedtime to exit from the joint venture at this point in time. As soon astimelines are known, we will update the same.
2	Amount and percentage ofturnover or revenue or incomeand net worth of the listed entitycontributed by such unit ordivision during the last financialyear, i.e. FY18(Rsincrores)	Blue Star’sshare in(losses) ofBSOEMC*	% onConsolidatedProfits (PBT)	Blue Star’sshare in thenet-worth ofBSOEMC*	% onConsolidatedNet-worth
		(5.43)**	(2.64%)**	(0.16)	(0.02%)

* The Company has 51% shareholding in BSOEMC, however, the agreed profit sharing is on a 50-50 basis ** The turnover of BSOEMC for FY18 was Rs 97.46 crores however BSOEMC being a joint venture, its turnover was not required to be included as a part of consolidated turnover of Blue Star Limited under applicable accounting standards.

Thanking you, Yours faithfully, For Blue Star Limited Vijay Devadiga Company Secretary

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Z:(01) Blue Star Limited\2018-19\Stock Exchange Compliances\Regulation 30 - Information & Updates\Outcome\Board Meeting-Outcome(03) 05.02.2019\Clarification Letter

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