Blue Star Ltd — Interim / Quarterly Report 2020

Jan 30, 2020

Blue Star Limited Kasturi Buildings, Mohan T Advani Chowk, Jamshedji Tata Road, Mumbai 400 020, India. T : +91 22 6665 4000 F : +91 2266654151 www.bluestarindia.com

January 30, 2020

BSE Limited	National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers,	Exchange Plaza, C-1 , Block G,
Dalal Street,	Sandra Kurla Complex, Sandra (East),
Mumbai-	Mumbai-
400 001	400 051
BSE Scrip Code: 500067	NSE Symbol: BLUESTARCO

Dear Sir/ Madam,

Sub: Outcome of the Board Meeting

With reference to our letter dated January 20, 2020 and in accordance with Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the 'Listing Regulations'), we wish to inform you that the Board of Directors at its Meeting held today, i.e. Thursday, January 30, 2020, has inter alia approved and taken on the record the Unaudited Standalone and Consolidated Financial Results for the third quarter and nine months ended December 31 , 2019 of the Company along with Limited Review Reports, pursuant to Regulation 33 of the Listing Regulations.

A copy of the Limited Review Reports and the aforesaid Financial Results are enclosed herewith.

The aforesaid information is being made available on the Company's website at www.bluestarindia.com

The Company had closed its Trading Window from Wednesday, January 1, 2020, pursuant to the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 as amended from time to time and the Code of Internal Procedures and Conduct for Regulating, Monitoring and Reporting of Trading by Insiders and Code for Fair Disclosure of Unpublished Price Sensitive Information of the Company, and the same will open from Tuesday, February 4, 2020.

The meeting commenced at 11 :00 a.m. and concluded at 3:15 p.m.

Thanking you, Yours faithfully, For Blue Star Limited

Encl.: a/a \172.16.31.16\Legal aoo Secretarial Oocuments(01) Blue Star t.imited\Z019·:ZO'IStock Exchange Complianccs\Rcgulatlon 30 · Information and Updates\Outcome of BM(04) 30.01.2020

Registered Office: Kasturi Buildings, Mohan T Advani Chowk, Jamshedji Tata Road, Mumbai 400 020, India. T: +91 22 6665 4000 F: +91 22 6665 4152. CIN: L 28920MH1949PLC 006870

Deloitte Haskins & Sells LLP

Chartered Accountants lndiabulls Finance Centre Tower 3, 27"-32"' Floor Senapati Bapat Marg Elphinstone Road (West) Mumbai - 400 013 Maharashtra, India

Tel: +91 22 6185 4000 Fax: +91 22 6185 4001

I NDEPENDENT AUDITOR'S REVI EW REPORT ON REVI EW OF I NTERIM CONSOLIDATED FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF BLU E STAR LIMITED

• 1. We have reviewed the accompanying Statement of Consol idated Unaudited Financial Results of BLUE STAR LIMITED (the "Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as the "Group"), and its share of the net profit after tax and total comprehensive income of its joint ventures for the quarter and nine months ended December 31, 2019 (the "Statement") being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obl igations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of I ndia (ICAI). A review of interim financial information consists of making inquiries, primarily of Parent's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143( 10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

1. The Statement includes t he results of the following entities:

Subsidiaries:

• i) Blue Star Engineering and Electronics Limited
• ii) Blue Star Qatar WLL
• iii) Blue Star International FZCO
• iv) Blue Star Systems and Solutions LLC

Joint Ventures:

• i) Blue Star M & E Engineering (Sdn) Bhd
• ii) Blue Star Oman Electro-Mechanical Co. LLC

Deloitte Haskins & Sells LLP

• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 20 16, including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. We did not review the interim financial information of a subsidiary included in the consolidated unaudited financial results, whose interim financial information reflect total revenues of ~91.92 crore and ~217.46 crore for the quarter and nine months ended December 31, 2019 respectively, total net profit after tax of ~3.47 crore and ~8.01 crore for the quarter and nine months ended December 31, 2019 respectively and total comprehensive income of ~3.47 crore and ~8.01 crore for the quarter and nine months ended December 31, 2019 respectively as considered in the Statement. This interim financial information has been reviewed by other auditor whose report has been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this subsidiary, is based solely on the report of the other auditor and the procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of this matter.

1. The Statement includes the interim financial information of a subsidiary whose interim financial information reflect total revenue of ~2.61 crore and ~5.41 crore for the quarter and nine months ended December 31, 2019 respectively, total profit/(loss) after tax of ~0.01 crore and ~(1.96) crore for the quarter and nine months ended December 31, 2019 respectively and total comprehensive income of ~0.01 crore and ~(1.96) crore for the quarter and nine months ended December 31, 2019 respectively as considered in the Statement. The statement also includes the Group's share of profit after tax of ~0.05 crore and ~2.46 crore for the quarter and nine months ended December 31, 2019 respectively and total comprehensive income of ~0.05 crore and ~2.46 crore for the quarter and nine months ended December 31, 2019 respectively as considered in the Statement, in respect of a joint venture. These interim financial information have not been reviewed by us. Our report on the Statement, in so far as it relates to the amounts and disclosures included in respect of a subsidiary and a joint venture, is based solely on Management certified financial information. According to the information and explanations given to us by the Management, these interim financial information are not material to the Group.

Our Conclusion on the Statement is not modified in respect of our reliance on these interim financial information certified by the Management.

For DELOITIE HASKINS & SELLS LLP Chartered Accountants (Firm's Registration No. 117366W/W-100018)

p-;-; -(/cud'~~/ I~

Porus Pardiwalla Partner Membership No. 040005 UDIN : /-_004()005AAAAAC'\bl4 ^~

Place: Mumbai L Date: January 30, 2020

BLUE STAR LIMITED Registered Office : Kasturi Buildings, Mohan T. Advani Chowk, Jamshedjl Tala Road, Mumbal 400 020, CIN No.: L28920MH1949PLC006870, Telephone No +91 22 6665 4000, Fax No. +91 22 6665 4152 UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2019

							~In Crores
SR. NO	PARTICULARS	QUARTER ENDED (UNAUDITED) (UNAUDITED) (UNAUDITED) (UNAUDITED)	QUARTER ENDED	QUARTER ENDED	NINE MONTHS NINE MONTHS ENDED	ENDED (UNAUDITED)	YEAR ENDED (AUDITED)
		31.12.19	30.9.19	31 .12.18	31.12.19	31.12.18	31.3.19
	Revenue from operations	1.235.91	1.249.47	1 098.97	4 060.83	3.639.00	5.234.84
	Other Income	6.09	10.60	10.37	38.35	18.64	24.69
1	Total Income	1 242.00	1 260.07	1 109.34	4099.18	3 657.64	5 259.53
2	Expenses
	a) Cost of materials consumed (including direct project and service cost)	771.59	718.38	639.95	2,264.14	1,814.15	2,801.24
	b Purchase of Stock in trade	176.25	176.31	145.22	590.79	601.29	959.50
	c) Changes in Inventories of Finished Goods. Work-in-progress and Stock-in-Trade	(17.17)	37.38	52.41	194.29	317.39	170.44
	d Emplovee Benefits Expense	126.04	119.50	106.59	360.19	312.34	421.49
	e Depreciation and Amortisation Expense	22.33	21.64	18.25	64.29	51.23	74.90
	f Finance Cost	7.55	6.79	13.10	22.57	36.67	47.87
	Other Expenses	122.17	122.32	112.43	405.96	356.73	535.63
	Total Exoenses	1 208.76	1 204.32	1 087.95	3 902.23	3 490.00	5 011.07
3	Profit before Exceptional Items 1-2	33.24	55.75	21.39	196.95	167.64	248.46
4	Exceptional Items (Refer note 3)	(1 .57	(1.71	7.17	3.28	5.29	2.66
5	Profit before Tax (3+4)	31.67	54.04	14.22	193.67	172.93	251.14
6	Tax Expense
	i Current tax	5.30	5.85	2.62	34.71	23.66	37.01
	ii Deferred tax (net of MA Tl	6.67	11 .03	11.63	26.66	17.67	4.98
	Total Tax Expense	11.97	16.88	0.99	61.37	41.33	41.99
7	Net Profit after Tax 5-6	19.70	37.16	13.23	132.30	131.60	209.15
	Sa Share in ProfiV Loss of Joint Ventures	0.05	0.93	14.09	2.46	(21.14	(18.75
	8b Profits attributable to Non-controllina interest	0.17	0.15	0.05	0.40	(0.24	(0.34
9	Net Profit for the Period 7+8	19.56	37.94	0.91	134.36	110.22	190.06
	Other Comprehensive Income net of tax
	A. Items that will not be reclassified to Profit or loss net of tax	0.44	0.88	0.95	1.44	2.16	3.32
	B. Items that will be reclassified to profit or loss	1.10	1.05	0.04	1.68	0.75	0.19
	10 Other Comprehensive Income net of tax	0.66	0.17	0.91	0.44 134.80	1.43 108.79	3.13 186.93
	11 Total Comprehensive Income for the period (9+1 0)	20.24	38.11	1.82
	12 Paid Up Eauity Share Capital (face Value of the share ~ 21-eachl	19.26	19.26	19.26	19.26	19.26	19.26
	13 Reserves excludina Revaluation Reserve						853.80
	14 Eaminas Per Share EPS in' not annualised) a Basic	2.03	3.94	co.16i	13.95	11.45	19.75
	b Diluted	2.03	3.94	co. 1m	13.95	11.45	19.74

NOTES:

1 The Audit Committee has reviewed the above resulls and the Board of Directors has approved the above resulls at their respective meetings held on January 30. 2020.

2 Financial Results of Blue Star Limited (Standalone Information) :

						~In Crores
		STANDALONE
PARTICULARS		uarter Ended				Year Ended
		UNAUDITED		UNAUDITED	AUDITED
	31.12.19	30.9.19	31.12.18	31.12.19	31 .12.18	31 .3.19
Revenue from oPerations	1.062.76	1 056.23	996.61	3 589.66	3.302.38	4,783.70
Profit before tax alter excePtional item	4.81	22.57	19.00	132.22	121 .02	179.65
Profit after tax	0.59	12.79	19.86	87.61	80.35	121.79
Total Comprehensive Income	0.16	12.02	20.76	66.29	78.45	118.90

3 Exceptional Items

						~In Crores
PARTICULARS		Quarter Ended	Nine Months Ended	Year Ended
	UNAUDITED)	(UNAUDITED)	{AUDITED}
	31.12.19	30.9.19	31.12.18	31.12.19	31 .12.18	31 .3.19
Profit on sale of Propertv. Plant and Eaulpment	-			-	15.18	15.18
Platinum Jubilee ExPenses·	1.57	1.71	7.17	1 3.28	(9.89	(12.50
Total	1.57	1.71	7.17	(3.28	5.29	2.68

·The Parent commenced its Platinum Jubilee year on September 27. 2016. To mark the momentous milestone the parent held. throughout the year, various events and programmes, ran special media campaigns and printed special publications. Owing to the singular frequency of costs related to the milestone. such costs are recognised as exceptional.

4 Effective April 1. 2019, the Group has adopted lnd AS 116 "Leases" and capitalised assets taken on operating lease. The transition was effected using the "modified retrospective method" and therefore comparatives have not been restated. The opening Retained Earnings have been debited by~ 4.20 crore (net of tax). The impact on the profit for the quarter and nine months ended are not material. 5 Previous period I yea~s figures have been regrouped I rearranged wherever necessary. -

~ Date : January 30, 2020 Place: Mumbal >--sKINs §' ^~ /c r~= -<- <f ⁰k~ ~~ gil 1- CHART ' ) www.bluestarlndla.com 5_,ACCOU& * I Vir S. Advanl

~0 * 6/'. ---- Vice Chairman and Managing Director (DIN : 01 571278)

BLUE STAR LIMITED

UNAUDITED CONSOLIDATED SEGMENT WISE REVENUE, RESULTS & CAPITAL EMPLOYED FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31 , 2019

							in Crores
Sr. No.	Particulars	QUARTER ENDED	QUARTER ENDED	QUARTER ENDED (UNAUDITED) (UNAUDITED) (UNAUDITED) (UNAUDITED)	NINE MONTHS ENDED	NINE MONTHS ENDED (UNAUDITED)	YEAR ENDED (AUDITED)
		31.12.19	30.9.19	31.12.18	31.12.19	31.12.18	31.3.19
I	SEGMENT REVENUE a. Electro- Mechanical Projects and Commercial Air Conditioning Systems b. Unitary Products c. Professional Electronics and Industrial Systems TOTAL SEGMENT REVENUE	758.80 420.23 56.88 1 235.91	783.54 377.21 88.72 1 249.47	655.47 391.52 51.98 1 098.97	2,166.28 1,704.33 190.22 4 060.83	1,905.80 1,565.34 167.86 3 639.00	2,748.11 2,268.97 217.76 5 234.84
II	SEGMENT RESULT PROFIT BEFORE INTEREST & TAX a. Electro- Mechanical Projects and Commercial Air Conditioning Systems b. Unitary Products c. Professional Electronics and Industrial Systems TOTAL SEGMENT RESULT Less: i) Interest and Other Financial Charges ii) Un-allocable Expenditure TOTAL PROFIT BEFORE TAX AND EXCEPTIONAL ITEM Exceptional items	39.00 7.65 17.99 64.64 7.55 23.85 33.24 (1.57\	44.56 11.96 24.43 80.95 6.79 18.41 55.75 (1.71)	30.11 9.39 6.86 46.36 13.10 11.87 21.39 (7.17)	117.09 118.52 46.84 282.45 22.57 62.93 196.95 (3.28	114.56 112.60 27.70 254.86 36.87 50.35 167.64 5.29	150.85 185.92 43.78 380.55 47.87 84.22 248.46 2.68
Ill	PROFIT BEFORE TAX SEGMENT ASSETS a. Electro- Mechanical Projects and Commercial Air Conditioning Systems b. Unitary Products c. Professional Electronics and Industrial Systems d. Un-allocable Corporate Assets TOTAL SEGMENT ASSETS	31.67 1,681.38 825.56 81.03 415.11 3,003.08	54.04 1,705.34 726.97 132.23 464.44 3,028.98	14.22 1,595.37 881.49 108.47 361.45 2 946.78	193.67 1,681.38 825.56 81.03 415.11 3,003.08	172.93 1,595.37 881.49 108.47 361.45 2,946.78	251.14 1,727.75 1,188.47 57.90 376.84 3 350.96
IV	SEGMENT LIABILITIES a. Electro- Mechanical Projects and Commercial Air Conditioning Systems b. Unitary Products c. Professional Electronics and Industrial Systems d. Un-allocable Corporate Liabilities TOTAL SEGMENT LIABILITIES	1,119.88 508.61 94.29 390.53 2 113.31	1,157.24 396.64 129.21 476.35 2,159.44	1,055.96 430.35 85.66 577.98 2 149.95	1,119.88 508.61 94.29 390.53 21 13.31	1,055.96 430.35 85.66 577.98 2 149.95	1,213.19 719.68 86.13 457.07 2 476.07
v	CAPITAL EMPLOYED (Segment Assets -Segment Liabilities) a. Electro- Mechanical Projects and Commercial Air Conditioning Systems b. Unitary Products c. Professional Electronics and Industrial Systems d. Un-allocable Corporate Assets less Liabilities TOTAL CAPITAL EMPLOYED IN THE COMPANY	561.50 316.95 (13.26) 24.58 889.77	548.10 330.33 3.02 (1 1.91 869.54	539.41 451 .14 22.81 (216.53) 796.83	561.50 316.95 (13.26) 24.58 889.77	539.41 451.14 22.81 (216.53 796.83	514.56 468.79 (28.23) (80.23 874.89

Note:

1 Based on the "management approach" as defined in lnd AS 1 DB-Operating Segments, the Chief Operating Decision Maker evaluates the Company's performance and allocates resources based on an analysis of various performance indicators by business segments. Accordingly, information has been presented along these business segments.

2 Unitary Product segment is seasonal in nature.

Date : January 30, 2020 1- \:. ':: . * Place : Mumbai 0 ) (!') I Vir S. Advani ..,. \ / - Vice Chairman and Managing Director ~

• 3 Previous period I year's figures have been regrouped I rearranged wherever necessary. ~~~R .(-';!; For BLUE STAR LIMITED E~~ ~~~]~ /Colv&-- •fl <I.; . \i'l

':> (DIN : 01571278)

Deloitte Chartered Accountants Haskins & Sells LLP

lndiabulls Finance Centre Tower 3, 27'"-32"" Floor Senapati Bapat Marg Elphinstone Road (West) Mumbai - 400 013 Maharashtra, India

Tel: +91 22 6185 4000 Fax: +91 22 6185 4001

I NDEPENDENT AUDITOR'S REVI EW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF BLUE STAR LIMITED

• 1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of BLUE STAR LIMITED (the "Company"), for t he quarter and nine months ended December 31, 2019 (the "Statement"), being submitted by the Company pursuant to the requ irement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement, which is the responsibi lity of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in t he Indian Account ing Standard 34 "Interim Financial Reporting" ("I nd AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under sect ion 143( 10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance t hat we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid I ndian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For DELOITTE HASKINS & SELLS LLP Chartered Accountants (Firm's Registration No. 117366W/W-100018)

i;;> (~ fb_uel f LO =;I 0,

Porus Pardiwalla Partner Membership No. 040005 UDIN: ?..00tl00(} AAAAAf2>q O~

Place: MUMBAI Date : January 30, 2020

l

BLUE STAR LIMITED Registered Office : Kasturl Buildings, Mohan T. Advanl Chowk, Jamshedji Tala Road, Mumbal 400 020, CIN No.: L28920MH1949PLC006870, Telephone No +91 22 6665 4000, Fax No. +91 22 6665 4152 UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2019

							fIn Crores
SR. NO	PARTICULARS	QUARTER ENDED	QUARTER ENDED (UNAUDITED) (UNAUDITED) (UNAUDITED) (UNAUDITED)	QUARTER ENDED	ENDED	NINE MONTHS NINE MONTHS ENDED (UNAUDITED)	YEAR ENDED (AUDITED)
		31 .12.19	30.9.19	31.12.18	31.12.19	31.12.18	31.3.19
	Revenue from operations	1.062.76	1.056.23	996.61	3.589.66	3.302.38	4.783.70
	Other Income	5.69	9.49	9.95	38.79	17.99	23.11
1	Total Income	1 068.45	1 065.72	1 006.56	3 628.45	3 320.37	4 806.81
2	Expenses
	a) Cost of materials consumed (including direct project and service cost)	690.55	643.95	595.12	2.060.24	1.677.10	2.638.31
	b Purchase of Stock in trade	137.48	107.18	108.34	451.29	484.65	790.74
	c) Changes in Inventories of Finished Goods. Work-in-progress and Stock-in-Trade	(20.00)	41 .87	54.99	196.22	314.23	166.99
	d Emolovee Benefits Exoense	107.41	103.89	93.94	309.24	275.32	372.69
	e Deoreciation and Amortisation Exoense	21 .59	20.80	16.92	62.05	47.30	69.18
	Finance Cost	8.41	7.37	12.39	24.46	33.93	44.92
	Ia! Other Expenses	116.63	116.38	107.56	389.45	342.98	517.68
	Total Expenses	1 062.07	1 041.44	989.26	3 492.95	3 175.51	4 600.51
3	Profil from Operations before Exceptionalllems 1-2	6.38	24.28	17.30	135.50	144.86	206.30
4	Exceptional Items refer note 2	1.57	1.71	36.30	3.28	23.84	26.45
5	Profil / Loss before Tax 3+4	4.81	22.57	19.00	132.22	121.02	179.85
6	Tax Expense
	I) Current lax	1.06	(0.13)	4.20	24.23	23.01	28.59
	ii) Deferred tax	3.16	9.91	(3.34)	20.38	17.66	29.47
	Total Tax Expense	4.22	9.78	0.86	44.61	40.67	58.06
7	Net Profil/ (Loss) after Tax (5-6)	0.59	12.79	(19.86	87.61	80.35	121.79
	Other Comprehensive Income
	Items that will not be reclassified to orofit or loss net of tax	0.43	0.77	(0.90	1.32	1.90	2.89
8	Other Comprehensive Income, net of tax	0.43	0.77	0.90	1.32	1.90	2.89
9	Total Comprehensive Income for the period 7+8	0.16	12.02	20.76	86.29	78.45	118.90
10	Paid UP Eaultv Share Capital Face Value of the share 2/- each	19.26	19.26	19.26	19.26	19.26	19.26
11	Reserves excludina Revaluation Reserve						941 .74
12	Earninas Per Share EPS in~ not annualised
	a Basic	0.06	1.33	2.06	9.10	8.35	12.66
	b Diluted	0.06	1.33	2.06	9.10	8.35	12.65

NOTES:

1 The Audit Commiltee has reviewed the above results and the Board of Directors has approved the above results at their respective meetings held on January 30. 2020.

2 Exceptional Items

						fin Crores
PARTICULARS	QUARTER ENDED	QUARTER ENDED	QUARTER ENDED (UNAUDITED} (UNAUDITED! (UNAUDITED! (UNAUDITED!	ENDED	NINE MONTHS NINE MONTHS YEAR ENDED ENDED !UNAUDITED!	(AUDITED)
	31.12.19	30.9.19	31.12.18	31.12.19	31 .12.18	31.3.19
Profit on sale of PrQPer!Y, Plant and Eauipmenl					15.18	15.18
Platinum Jubilee Exoenses·	1.57	1.71	7.17	3.28	9.89	12.50
Provision for financial obligation and impairment of investment in Joint Venture.			(29.13)		(29.13)	(29.13)
Total	1.57	1.71	36.30	3.28	23.84	26.45

· The Company commenced its Platinum Jubilee year on September 27. 2018. To mark the momentous milestone the Company held. throughout the year. various events and programmes. ran special media campaigns and printed special publications. Owing to the singular frequency of costs related to the milestone. such costs are recognised as exceptional.

3 Effective April 1. 2019. the Company has adopted lnd AS 116 "Leases" and capitalised assets taken on operating lease. The transition was effected using the ·modified retrospective method" and therefore comparatives have not been restated. The opening Retained Earnings have been debited by~ 4.28 crore (net of tax). The impact on the profit for the quarter and nine months ended are not material. ...-=- 4 Previous period I yea(s figures have been regrouped I rearranged wherever necessary.

~~~ Date : January 30, 2020 >-SKIN,, Place : Mumbai b"r For BLUE STAR LIMITED ⁰t '·. ·- * www.bluestarindia.com 7'r (DIN : 01571278)

~4 : Vir S. Advani ------ Vice Chairman and Managing Director

BLUE STAR LIMITED

UNAUDITED STANDALONE SEGMENT WISE REVENUE, RESULTS & CAPITAL EM PLOYED FOR THE QUARTER AND NINE MONTHS ENDED DECEM BER 31, 2019

							₹ in Crores
SR.N $\circ$	PARTICULARS	QUARTER ENDED (UNAUDITED)	QUARTER ENDED (UNAUDITED)	QUARTER ENDED (UNAUDITED)	NINE MONTHS ENDED (UNAUDITED)	NINE MONTHS ENDED (UNAUDITED)	YEAR ENDED (AUDITED)
		31.12.19	30.9.19	31.12.18	31.12.19	31.12.18	31.3.19
	SEGMENT REVENUE a. Electro- Mechanical Projects and Commercial Air Conditioning Systems b. Unitary Products c. Professional Electronics and Industrial Systems TOTAL SEGMENT REVENUE	642.54 420.22 1,062.76	678.96 377.22 0.05 1,056.23	604.57 392.00 0.04 996.61	1.885.01 1,704.34 0.31 3,589.66	1,735.83 1,565.87 0.68 3,302.38	2.513.35 2,269.67 0.68 4,783.70
$\mathbf{II}$	SEGMENT RESULT PROFIT BEFORE INTEREST & TAX a. Electro- Mechanical Projects and Commercial Air Conditioning Systems b. Unitary Products c. Professional Electronics and Industrial Systems TOTAL SEGMENT RESULT Less: i) Finance Cost ii) Un-allocable Expenditure TOTAL PROFIT BEFORE TAX AND EXCEPTIONAL ITEM	32.28 7.64 (0.09) 39.83 8.41 25.04 6.38	37.48 11.96 (0.13) 49.31 7.37 17.66 24.28	31.46 9.53 (0.16) 40.83 12.39 11.14 17.30	103.28 118.52 (0.17) 221.63 24.46 61.67 135.50	114.80 113.09 (0.13) 227.76 33.93 48.97 144.86	142.60 186.56 (0.80) 328.36 44.92 77.14 206.30
	Exceptional items	(1.57)	(1.71)	(36.30)	(3.28)	(23.84)	(26.45)
	PROFIT / (LOSS) BEFORE TAX	4.81	22.57	(19.00)	132.22	121.02	179.85
Ш	SEGMENT ASSETS a. Electro- Mechanical Projects and Commercial Air Conditioning Systems b. Unitary Products c. Professional Electronics and Industrial Systems d. Un-allocable Corporate Assets TOTAL SEGMENT ASSETS	1,491.76 825.61 1.86 564.48 2,883.71	1,500.62 727.04 1.89 625.80 2,855.35	1.421.18 881.49 2.39 530.92 2,835.98	1,491.76 825.61 1.86 564.48 2,883.71	1,421.18 881.49 2.39 530.92 2,835.98	1.547.06 1.188.54 1.90 502.16 3,239.66
IV	SEGMENT LIABILITIES a. Electro- Mechanical Projects and Commercial Air Conditioning Systems b. Unitary Products c. Professional Electronics and Industrial Systems d. Un-allocable Corporate Liabilities TOTAL SEGMENT LIABILITIES	975.65 508.44 1.35 471.31 1,956.75	999.84 396.46 1.21 531.03 1,928.54	911.69 430.24 0.34 573.13 1,915.40	975.65 508.44 1.35 471.31 1,956.75	911.69 430.24 0.34 573.13 1,915.40	1,080.47 719.54 0.79 477.86 2,278.66
v	CAPITAL EMPLOYED (Segment Assets - Segment Liabilities) a. Electro- Mechanical Projects and Commercial Air Conditioning Systems b. Unitary Products c. Professional Electronics and Industrial Systems d. Un-allocable Corporate Assets less Liabilities	516.11 317.17 0.51 93.17 926.96	500.78 330.58 0.68 94.77 926.81	509.49 451.25 2.05 (42.21) 920.58	516.11 317.17 0.51 93.17 926.96	509.49 451.25 2.05 (42.21) 920.58	466.59 469.00 1.11 24.30 961.00
	TOTAL CAPITAL EMPLOYED IN THE COMPANY

Note:

1 Based on the "management approach" as defined in lnd AS 108-0perating Segments, the Chief Operating Decision Maker evaluates the Company's performance and allocates resources based on an analysis of various performance indicators by business segments. Accordingly, information has been presented along these business segments.

2 Unitary Product segment is seasonal in nature.

3 Previous period I year's figures have been regrouped I rearranged wherever necessary

Date : January 30, 2020 Place : M umbal

For BLUE STAR LIMITED

lti &dv~

Vir S. Advani Vice Chairman and Managing Director (DIN : 01 571278)