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Blue Star Ltd Interim / Quarterly Report 2022
61425_rns_2021-10-29_6b56729e-a305-4d5c-bb10-652f29365a82.pdf
Interim / Quarterly Report
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Blue Star Limited
Band Box House, 4th Floor, 254 D, Dr Annie Besant Road, Worl i, Mumbai 400 030, India. T : +91 22 6654 4000 F : +91 22 6654 4001 www.bluestarindia.com
October 29, 2021
| 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.: Investor Update - Q2FY22
We are enclosing herewith the Investor Update for Q2FY22.
The said information is also being made available on the website of the Company at www.bluestarindia.com
Kindly take the same on record.
Thanking you, Yours faithfully, For Blue Star Limited
Encl.: a/a
\172.16.31 .16\Legal and Secretarial Documents(01) Blue Star Limited\2021 -22\Stock Exchange Compliance\Reg 30 Information and Update\lnvestor Updates\29-10-2021
Registered Office: Kasturi Buildings, Mohan T Advani Chowk, Jam shedji Tata Road, Mumbai 400 020, India. T: +91 22 6665 4000 F: +91 22 6665 4152. CIN: L 28920MH 1949PLC 006870
Blue Star Limited Investor Update Q2FY22
I. FINANCIAL HIGHLIGHTS
The quarter commenced on a strong note with extended summer in the northern parts of the country. There was healthy demand and robust volume growth for room air conditioners and refrigeration products compared to Q2FY21 with the ebbing of the second wave of the pandemic and the consequent easing of restrictions and improvement in consumer sentiment. Commercial, manufacturing and other institutional segments also revived. Most importantly, the collections were healthy resulting in substantial reduction in borrowings However, escalation in commodity prices, logistics costs and INR depreciation resulted in margin pressure.
Financial highlights for the quarter ended September 30, 2021, on a consolidated basis, are summarized below:
- Revenue from operations for Q2FY22 grew 37.4% to Rs 1239.74 cr as compared to Rs 902.12 cr in Q2FY21.
- EBIDTA (excluding other income and finance income) for Q2FY22 was Rs 70.70 cr (EBITDA margin 5.7% of revenue) as compared to Rs 55.08 cr (EBITDA margin 6.1% of revenue) in Q2FY21 due to the impact of increase in the input cost coupled with the roll-back of cuts in discretionary spends.
- Profit before tax grew 107.9% to Rs 47.44 cr in Q2FY22 as compared to Rs 22.82 cr in Q2FY21.
- Tax expense for Q2FY22 was Rs 15.99 cr as compared to Rs 7.42 cr in Q2FY21. Effective tax rate for Q2FY22 was 33.9% as against 33.0% for Q2FY21.
- Net profit for Q2FY22 grew by 104.2% to Rs 31.45 cr as compared to Rs 15.40 cr in Q2FY21.
- Carried-forward order book as of September 30, 2021, grew by 5.5% to Rs 3185.91 cr as compared to Rs 3019.57 cr as on September 30, 2020.
- Capital Employed reduced to Rs 938.14 cr as on September 30, 2021, as compared to Rs 1124.27 cr as on September 30, 2020, on account of continued focus on working capital efficiencies.
- Prudent working capital management enabled us to end the quarter with a net borrowing of Rs 44.34 cr (debt equity ratio of 0.05) as compared to a net borrowing of Rs 344.06 cr as of September 30, 2020 (debt equity ratio of 0.44).
II. BUSINESS HIGHLIGHTS FOR Q2FY22
Segment I: Electro-Mechanical Projects & Commercial Air Conditioning Systems
Segment I revenue grew 33.8% to Rs 723.40 cr in Q2FY22 as compared to Rs 540.83 cr in Q2FY21. Segment result was Rs 46.54 cr (6.4% of revenue) in Q2FY22 as against a profit of Rs 34.41 cr (6.4% of revenue) in Q2FY21.
Order inflow for the quarter grew by 3.5% to Rs 709.13 cr as compared to Rs 684.91 cr in Q2FY21.
1. Electro-Mechanical Projects business
Overall pace of execution of projects and order finalizations improved as compared to the previous quarter. Order inflows from the factories and light industrial sector continued to be encouraging and are expected to offer significant opportunities in the coming months. The inflow of orders from the commercial buildings and infrastructure sectors is beginning to pick up.
We will continue to focus on opportunities in the infrastructure sector such as metro railways, electrical substations and water distribution and sectors such as factories, data centers and warehousing which are expected to throw up good opportunities in the medium term.
Carried-forward order book of the Electro-Mechanical Projects business was Rs 2240 cr as on September 30, 2021, as compared to Rs 2070 cr as on September 30, 2020, a growth of 8.2%.
Major orders received during the quarter were from L&W Construction Pvt Ltd (Hyderabad), Embassy Realty and Max Square Limited.
2. Commercial Air Conditioning Systems
Continued traction in the healthcare, pharma, industrial and government customer segments coupled with early signs of recovery in key segments, namely, retail, IT, and educational institutions enabled a good growth for the commercial air conditioning business during the quarter.
We continued to maintain our number 1 position in Ducted Air Conditioning, 2nd position in VRF and 3rd in Chiller product categories.
Major orders bagged in Q2FY22 were from Late Meenatai Thackrey Covid Hospital NMMC, Bharatiya Reserve Bank Note Mudra (Mysore), NTPC Ramagundam, Reliance Retail, ONGC, Ankaleshwar and ISRO (Sriharikota).
3. International Business
The faster recovery in the Middle East markets enabled strong growth in revenue during the quarter. Demand for both air conditioning and refrigeration solutions improved across SAARC and the Middle East markets.
The ongoing Dubai Expo 2020, the just concluded IPL and the upcoming T20 cricket world cup offered good opportunities during the quarter in the UAE.
The projects business in Qatar continued to do well with a pick-up in order inflows and execution of projects. The operations at the joint venture at Malaysia continued to be impacted during the quarter due to lockdown restrictions imposed there on resurgence of COVID-19.
We continue to explore new markets for business opportunities and expanded our exports business to Tanzania.
Segment II: Unitary Products
Segment II revenue grew 42.7% to Rs 454.71 cr in Q2FY22 as compared to Rs 318.65 cr in Q2FY21. Segment result was Rs 23.26 cr (5.1% of revenue) in Q2FY22 as compared to Rs 11.73 cr (3.7% of revenue) in Q2FY21.
1. Cooling and Purification Products business
Despite extended monsoon, our revenue grew 35% over Q2FY21 in line with the market. We maintained a market share of 13%.
Upgradation of residences and the revival in the light commercial sector are driving the demand. As in the past, tier 3, 4 and 5 markets constitute more than 60% of our revenue. Our re-jigged product portfolio for addressing the belly of the market is helping us to compete effectively.
We have further consolidated our position in the e-com space. Dealer network expansion in Northern India is on track.
We have applied for PLI benefit for sheet metal components and heat exchangers. Blue Star Climatech Limited, the wholly owned subsidiary has commenced construction of the new factory for room air conditioners at Sri City and the same is expected to be commissioned by October 2022.
Due to the unprecedented increase in the commodity prices and logistics costs, we have implemented price increase of 3% effective September 1, 2021.
2. Commercial Refrigeration business
Pick up in consumption in the commercial food segments coupled with continued traction for the medical and supermarket refrigeration equipment enabled a growth in revenue for the commercial refrigeration business during the quarter.
Additionally, demand for storage water coolers and bottled water dispensers have also picked up due to the partial opening of educational institutions and commercial establishments.
During the quarter, we launched new variants in storage water coolers and angular glass top freezers which offer better product visibility and merchandising.
We continue to maintain our leadership position in Deep Freezers, Storage Water Coolers and Modular Cold Rooms.
The new Deep Freezer plant at Wada shall commence commercial production from January 2022.
Major orders were bagged from Reliance Retail, ITC Fortune hotels, SRL Ltd., Omega Systems and Zydus Cadila.
Segment III: Professional Electronics and Industrial Systems
Segment III revenue grew by 44.5% to Rs 61.63 cr in Q2FY22 as compared to Rs 42.64 cr in Q2FY21. Segment result is lower at Rs 9.83 cr (16.0% of revenue) in Q2FY22 as compared with Rs 8.15 cr (19.1% of revenue) in Q2FY21 due to product mix.
Revenue for the quarter grew on the back of a few high value orders received in the data security solutions, non-destructive testing, and healthcare businesses. The data security solutions business continued to do well, led by the various digitization initiatives in the BFSI sector. The Testing Machines business is also witnessing growth with a revival of investments in the manufacturing sector.
Major orders were bagged from State Bank of India, Federal Bank, HDFC Bank, Bharat Electronics Limited and Jio Platforms Limited to name a few.
With the wide portfolio of products and solutions forming part of our offerings, the prospects for this business segment continue to be positive.
III. BUSINESS OUTLOOK
With the business environment returning to near normalcy, and the upcoming festive season, the demand for our products and services is expected to be robust. We believe that with the acceleration of the vaccination drive, the impact of the third wave, if any, shall be minimal.
With the revenue reaching pre-covid level in the 2nd quarter, we expect the growth momentum to continue through Q3 and Q4 leading up to the next summer season. The pricing corrections will continue depending on the input costs and at the same time, product cost rationalization through value engineering and alternate designs as well as operating cost reduction will be undertaken to counter the margin pressure.
For more information contact
| Neeraj Basur | Sudhir Shetty |
|---|---|
| Blue Star Limited | Adfactors PR Pvt. Limited |
| Tel: 022-6654 4000 | Tel: 022-6754 4444 |
| [email protected] | [email protected] |
SAFE HARBOUR
Certain statements in this release concerning our future growth prospects are forward-looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fiscal policy, competition, inflationary pressures and general economic conditions affecting our industry. The Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
BLUE STAR LIMITED
Registered Office : Kasturi Buildings, Mohan T. Advani Chowk, Jamshedji Tata Road, Mumbai 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 HALF YEAR ENDED SEPTEMBER 30, 2021
| ₹ in Crores | |||||||
|---|---|---|---|---|---|---|---|
| STANDALONE | |||||||
| SR.NO | PARTICULARS | QUARTERENDED(UNAUDITED) | QUARTERENDED(UNAUDITED) | QUARTERENDED(UNAUDITED) | HALF YEARENDED(UNAUDITED) | HALF YEARENDED(UNAUDITED) | YEAR ENDED(AUDITED) |
| 30.9.21 | 30.6.21 | 30.9.20 | 30.9.21 | 30.9.20 | 31.3.21 | ||
| Income | |||||||
| Revenue from operations | 1,094.40 | 954.34 | 803.77 | 2,048.74 | 1,329.97 | 3,842.23 | |
| Other Income | 9.14 | 9.89 | 7.81 | 19.03 | 15.35 | 62.17 | |
| 1 | Total Income | 1,103.54 | 964.23 | 811.58 | 2,067.77 | 1,345.32 | 3,904.40 |
| 2 | Expenses | ||||||
| a) Cost of materials consumed (including direct project andservice cost) | 687.70 | 516.55 | 455.81 | 1,204.25 | 627.49 | 2,216.38 | |
| b) Purchase of Stock in trade | 139.17 | 160.20 | 56.26 | 299.37 | 177.12 | 733.18 | |
| c) Changes in Inventories of Finished Goods, Stock-in-Tradeand Work-in-progress | 21.56 | 49.83 | 101.26 | 71.39 | 215.71 | 25.49 | |
| d) Employee Benefits Expense | 102.11 | 97.81 | 77.20 | 199.92 | 136.18 | 325.23 | |
| e) Depreciation and Amortisation Expense | 19.45 | 19.22 | 19.62 | 38.67 | 39.51 | 88.34 | |
| f) Finance Cost | 12.00 | 11.70 | 18.81 | 23.70 | 37.98 | 67.89 | |
| g) Other Expenses | 88.77 | 95.04 | 70.79 | 183.81 | 143.73 | 349.54 | |
| Total Expenses | 1,070.76 | 950.35 | 799.75 | 2,021.11 | 1,377.72 | 3,806.05 | |
| 3 | Profit/(Loss) before Tax (1-2) | 32.78 | 13.88 | 11.83 | 46.66 | (32.40) | 98.35 |
| 4 | Tax Expense | ||||||
| i) Current tax | 8.38 | 2.72 | 5.71 | 11.10 | (8.00) | 18.01 | |
| ii) Deferred tax | 3.24 | 2.00 | (1.46) | 5.24 | (1.46) | 14.41 | |
| Total Tax Expense | 11.62 | 4.72 | 4.25 | 16.34 | (9.46) | 32.42 | |
| 5 | Profit/(Loss) for the period/year (3-4) | 21.16 | 9.16 | 7.58 | 30.32 | (22.94) | 65.93 |
| Other Comprehensive Income/(loss) | |||||||
| A. (i) Items that will not be reclassified to profit/(loss) | (0.39) | - | 0.80 | (0.39) | 0.77 | 5.32 | |
| (ii) Income Tax relating to items that will not be reclassified toProfit and Loss | 0.14 | - | (0.27) | 0.14 | (0.03) | (1.85) | |
| 6 | Other Comprehensive Income | (0.25) | - | 0.53 | (0.25) | 0.74 | 3.47 |
| 7 | Total Comprehensive Income for the period (5+6) | 20.91 | 9.16 | 8.11 | 30.07 | (22.20) | 69.40 |
| 8 | Paid Up Equity Share Capital (Face Value of the share ₹2/- each) | 19.26 | 19.26 | 19.26 | 19.26 | 19.26 | 19.26 |
| 9 | Reserve excluding Revaluation Reserves as per balance sheet ofprevious accounting year | 899.83 | |||||
| 10 Earnings Per Share (EPS) (in ₹) (not annualised) | |||||||
| a) Basic | 2.20 | 0.95 | 0.79 | 3.15 | (2.38) | 6.85 | |
| b) Diluted | 2.20 | 0.95 | 0.79 | 3.15 | (2.38) | 6.85 | |
| 11 Capital Redemption Reserve | 2.34 | 2.34 | 2.34 | 2.34 | 2.34 | 2.34 | |
| 12 Net Worth | 910.01 | 927.65 | 826.89 | 910.01 | 826.89 | 918.49 | |
| 13 Paid up debt capital/ Outstanding debt | 546.14 | 600.59 | 866.25 | 546.14 | 866.25 | 578.79 | |
| 14 Debt Service Coverage Ratio (DSCR) | 4.41 | 2.42 | 1.53 | 3.41 | 0.05 | 1.45 | |
| 15 Interest Service Coverage Ratio (ISCR) | 4.41 | 2.42 | 1.70 | 3.41 | 0.05 | 2.69 | |
| 16 Debt Equity Ratio | 0.60 | 0.65 | 1.05 | 0.60 | 1.05 | 0.66 | |
| 17 Current Ratio | 1.23 | 1.26 | 1.19 | 1.23 | 1.19 | 1.22 | |
| 18 Long term debt to working capital | 0.82 | 0.73 | 1.28 | 0.82 | 1.28 | 0.73 | |
| 19 Current liability ratio | 0.82 | 0.82 | 0.80 | 0.82 | 0.80 | 0.85 | |
| 20 Bad debts to Account receivable ratio | - | - | - | - | - | 0.02 | |
| 21 Total debt to total assets22 Debtors turnover (No. of days) | 0.1853.61 | 0.1964.39 | 0.2962.44 | 0.1860.88 | 0.2989.50 | 0.1769.25 | |
| 23 Inventory turnover (No. of days) | 89.32 | 108.47 | 105.64 | 96.94 | 132.60 | 105.35 | |
| 24 Operating margin (%) | 5.03% | 3.66% | 5.28% | 4.39% | 2.24% | 5.01% | |
| 25 Net profit margin (%) | 1.92% | 0.95% | 0.93% | 1.47% | -1.71% | 1.69% |
NOTES:
1 The Audit Committee has reviewed the above results and the Board of Directors has approved the above results at their respective meetings held on October 28, 2021.
2 The Company continues to monitor the economic effects of COVID-19 on its business. Based on the current evaluation by the management, the carrying amounts of the assets are considered recoverable.
3 The Code on Social Security, 2020 ('the Code') received presidential assent on September 28, 2020. However, the date on which the Code will come into effect has not yet been notified. The Company will record any related financial impact of the Code in the books of account, in the period(s) in which the Code becomes effective.
4 Additional disclosure as per Regulation 52(4) of SEBI (Listing Obligations and Disclosure Requirements), Regulation 2015.
i The Company has alloted unsecured redeemable non-convertible debentures (NCDs) on June 1, 2020. Total Non-Convertible Debenture of the Company outstanding as on September 30, 2021 are Rs. 350 crore. The asset cover in respect of the non-convertible debenture of the Company as on September 30, 2021 exceeds hundred percent of the principal amount of the said listed unsecured Non-Convertible Debentures.
| ii Details of Non - Convertible debentures are as follows | ₹ in Crores | ||||
|---|---|---|---|---|---|
| Previous Due Date | Next Due Date | ||||
| PARTICULARS | Amount | Date | Amount | Date | |
| 7.65% Non-Convertible Debenture (Series - I) - Principal | - | - | 175.00 | 1-Jun-23 | |
| 7.65% Non-Convertible Debenture (Series - I) - Interest | 13.39 | 1-Jun-21 | 13.39 | 1-Jun-22 | |
| 7.65% Non-Convertible Debenture (Series - II) - Principal | - | - | 175.00 | 1-Jun-23 | |
| 7.65% Non-Convertible Debenture (Series - II) - Interest | 13.39 | 1-Jun-21 | 13.39 | 1-Jun-22 |
iii The NCDs issued by the Company are rated by CARE AA+ (Outlook : Negative)
iv Net worth as per section 2(57) of the Companies Act, 2013
DSCR = [Earnings before interest and Tax] / [Interest expenses + Principal repayments made during the period for long term loans] ISCR = [Earnings before Interest and Tax] / Interest expenses
Debt / Equity Ratio = Total Debt (Non-Current Borrowings + Current Borrowings) / Equity
Current Ratio = Current Assets / Current Liabilities
Long term debt to working capital = [Non-current borrowings + Current maturities of Non-current Borrowings] / [Current assets less current Liabilities (Excluding current maturities of non-current borrowings)]
Current liability ratio = Current liabilities / Total liabilities
Bad debts to Account receivable ratio = Bad debts / Average gross trade receivable
Total debt to total assets = Total debt (Non-current borrowings + current borrowings) / Total assets
Debtors turnover (No of days) = Avg Debtors for the period / Turnover for the period X Number of days in reporting period
Operating margin (%) = Operating EBITDA (Profit before tax - Other income + Finance charges + Depreciation) / Revenue from operations X 100 Inventory turnover (No of days) = Avg Inventory for the period / Cost of Goods Sold for the period X Number of days in reporting period
Net profit margin (%) = Profit/(Loss) for the period / Total income X 100
| 5 Details of Commercial Papers are as follows - | ₹ in Crores | |
|---|---|---|
| Period | AmountOutstanding | Rating |
| September 30, 2021 | - | CARE A1+, |
| CRISIL A1+ | ||
| March 31, 2021 | - | CARE A1+, |
| CRISIL A1+ |
6 The Company is in compliance with the requirements of SEBI circular dated November 26, 2018 applicable to Large Corporate Borrowers (Refer Note 4).
7 The Asset Coverage Ratio as at September 30,2021 is 2.5 times as per Regulation 54(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.
8 Previous period / year's figures have been regrouped / rearranged wherever necessary.
Date : October 28, 2021 Place : Mumbai
For BLUE STAR LIMITED
(DIN : 01571278) Vir S. Advani Vice Chairman and Managing Director
BLUE STAR LIMITED STANDALONE STATEMENT OF ASSETS AND LIABILITIES AS ON SEPTEMBER 30, 2021
| SR.AS ATAS ATPARTICULARSNO30.09.2131.03.21(UNAUDITED)(AUDITED)AASSETS1. Non-Current Assets(a) Property Plant and Equipment244.19248.95(b) Right-of-use assets40.6943.78(c) Capital Work in Progress73.4154.31(d) Intangible Assets46.5452.13(e) Intangible Assets under development3.663.42(f) Financial Assets- Investments247.42220.82- Loans2.605.67- Other Financial Assets24.3324.13(g) Income tax Asset (Net)86.3585.32(h) Deferred Tax Assets (Net)38.8244.07(i) Other non current assets74.2055.90Total - Non Current Assets882.21838.502. Current Assets(a) Inventories801.04867.69(b) Financial Assets-Investments20.01279.05-Loans8.177.56-Trade Receivables651.05712.19-Cash and cash equivalents283.86296.19-Other bank balances4.074.22-Other Financial Assets11.0911.42(c) Other Current Assets453.03445.13Asset held for sale0.0817.70Total Current Assets2,232.402,641.15TOTAL - ASSETS3,114.613,479.65BEQUITY AND LIABILITIES1. Equity(a) Equity Share Capital19.2619.26(b) Other Equity891.35899.83Total Equity910.61919.092. Non-Current Liabilities(a) Financial Liabilities- Borrowings348.00346.86- Lease Liability27.2729.36(b) Provisions10.4210.81(c) Government Grants8.898.83Total - Non-current liabilities394.58395.863. Current Liabilities(a) Financial Liabilities-Borrowings198.14231.93-Trade Payablesi. Total outstanding dues of Micro Enterprises and small enterprises43.7966.89ii.Total outstanding dues of creditors other than Micro Enterprises and small1,100.771,388.96enterprises- Lease Liability20.9122.86-Other Financial Liabilities22.0033.72(b) Provisions40.8737.66(c) Government Grants1.912.33(d) Other Current Liabilities381.03380.35Total - Current Liabilities1,809.422,164.70TOTAL - EQUITY AND LIABILITIES3,114.613,479.65 | ₹ in Crores | |
|---|---|---|
For BLUE STAR LIMITED
Date : October 28, 2021 Place : Mumbai
Vir S. Advani Vice Chairman and Managing Director (DIN : 01571278)
BLUE STAR LIMITED STANDALONE CASH FLOW STATEMENT FOR HALF YEAR ENDED SEPTEMBER 30, 2021
| ₹ in Crores | ||
|---|---|---|
| FOR THE HALF YEAR ENDED | ||
| PARTICULARS | 30.09.2021UNAUDITED | 30.09.2020UNAUDITED |
| CASH FLOW FROM OPERATING ACTIVITIES | ||
| Profit/(Loss) before Tax | 46.66 | (32.40) |
| Adjustments to reconcile profit before tax to net cash flows | ||
| Depreciation/ amortization expenses | 38.67 | 39.51 |
| Amortisation of Government Grant | (2.01) | (1.05) |
| Fair value (gain)/loss on financial instruments | (0.02) | 2.08 |
| Loss on sale of property, plant & Equipments | (2.37) | 0.34 |
| Bad debts written off and provision for doubtfull debts | 4.58 | 20.92 |
| Unrealized foreign exchange loss/(gain) | 0.11 | (6.71) |
| Liabilities written back | (11.58) | (4.40) |
| Finance Cost | 23.70 | 37.98 |
| Rent income | (0.20) | (3.24) |
| Interest (income) | (7.68) | (4.73) |
| Mutual Fund Income | (2.43) | (1.74) |
| Dividend (income) | (2.40) | (2.40) |
| OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES | 85.03 | 44.16 |
| Increase/(Decrease) in working capital : | ||
| Trade payables | (300.09) | (638.36) |
| Provisions | 4.08 | 2.94 |
| Other current liabilities | 0.33 | (35.02) |
| Trade receivables | 56.55 | 168.10 |
| Inventories | 66.65 | 220.61 |
| Loans | 2.46 | (12.73) |
| Other assets | (9.35) | 109.91 |
| Cash generated/(used in) from operations | (94.34) | (140.39) |
| Direct taxes paid (net of refunds) | (11.98) | (9.81) |
| Net cash flow used in operating activities (A) | (106.32) | (150.20) |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchase of Property Plant and equipments, including CWIP and capital advances | (52.30) | (15.50) |
| Sale/(Purchase) of current investments | 259.04 | (196.81) |
| Purchase of non-current investments | (26.60) | |
| Proceeds from sale of Property, Plant and Equipment | 20.00 | 0.16 |
| Rent received | 0.20 | 3.24 |
| Interest received | 7.10 | 4.36 |
| Income from mutual fund | 2.43 | 1.74 |
| Dividends received | 2.40 | 2.40 |
| Net cash flow from/(used in) investing activities (B) | 212.27 | (200.41) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds/(Repayment) from Short Term Borrowings (net) | (52.65) | (14.78) |
| Proceeds from Long Term Borrowings | - | 350.00 |
| Repayment of Long Term Borrowings | - | (1.87) |
| Inter Corporate Deposit Received from Subidiary | 20.00 | 30.00 |
| Repayment of Lease Liabilities | (12.03) | (10.67) |
| Interest and Bank charges | (35.20) | (29.81) |
| Dividend paid on equity shares | (38.40) | (1.89) |
| Net cash flow from/(used in) in financing activities (C) | (118.28) | 320.98 |
| NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS (A + B + C) | (12.33) | (29.63) |
| Cash and cash equivalents at the beginning of the period | 296.19 | 218.18 |
| CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD | 283.86 | 188.55 |
| For BLUE STAR LIMITED | ||
| Date : October 28, 2021Place : Mumbai | Vir S. AdvaniVice Chairman and Managing Director(DIN : 01571278) |
Annexure A
Additional disclosure on Commercial Papers as per regulation 52(4) of SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015, for the year ended September 30, 2021
| Sr.No. | ISIN | Date of Issue | Maturity Date | Principal Amount(₹ in Crores) | Whether paidon due date ornot | OutstandingAmount as onSeptember 30,2021 (₹ in Crores) |
|---|---|---|---|---|---|---|
| 1 | INE472A14LT3 | 4/29/2020 | 10/23/2020 | 50.00 | Yes | - |
| 2 | INE472A14LU1 | 6/10/2020 | 3/15/2021 | 100.00 | Yes | - |
| 3 | INE472A14LW7 | 6/15/2021 | 9/13/2021 | 25.00 | Yes | - |
| 4 | INE472A14LX5 | 6/18/2021 | 9/16/2021 | 25.00 | Yes | - |
| 5 | INE472A14LY3 | 7/2/2021 | 9/29/2021 | 50.00 | Yes | - |
| ₹ in Crores | |||||||
|---|---|---|---|---|---|---|---|
| Sr.no. | PARTICULARS | QUARTERENDED(UNAUDITED) | QUARTERENDED(UNAUDITED) | QUARTERENDED(UNAUDITED) | HALF YEARENDED(UNAUDITED) | HALF YEARENDED(UNAUDITED) | YEAR ENDED(AUDITED) |
| 30.9.21 | 30.6.21 | 30.9.20 | 30.9.21 | 30.9.20 | 31.3.21 | ||
| 1 | Income | ||||||
| Revenue from operations | 1,239.74 | 1,052.04 | 902.12 | 2,291.78 | 1,528.14 | 4,263.59 | |
| Other Income | 8.12 | 7.95 | 5.86 | 16.07 | 14.47 | 62.35 | |
| Total Income | 1,247.86 | 1,059.99 | 907.98 | 2,307.85 | 1,542.61 | 4,325.94 | |
| 2 | Expensesa) Cost of materials consumed (including direct project andservice cost) | 738.10 | 546.97 | 489.20 | 1,285.07 | 698.35 | 2,360.45 |
| b) Purchase of Stock in trade | 198.13 | 200.47 | 85.43 | 398.60 | 238.80 | 880.09 | |
| c) Changes in Inventories of Finished Goods, Stock-in-Trade andwork-in-progress | 17.94 | 47.69 | 105.99 | 65.63 | 222.54 | 30.81 | |
| d) Employee Benefits Expense | 121.90 | 115.86 | 90.84 | 237.76 | 160.72 | 381.81 | |
| e) Depreciation and Amortisation Expense | 20.43 | 20.05 | 20.63 | 40.48 | 41.53 | 92.29 | |
| f) Finance Cost | 11.18 | 10.73 | 17.85 | 21.91 | 36.39 | 64.72 | |
| g) Other Expenses | 92.97 | 98.82 | 75.58 | 191.79 | 151.29 | 370.62 | |
| 3 | Total ExpensesProfit before share of Profit/(Loss) of Joint Ventures (1-2) | 1,200.6547.21 | 1,040.5919.40 | 885.5222.46 | 2,241.2466.61 | 1,549.62(7.01) | 4,180.79145.15 |
| 4 | Share in Profit/(Loss) of Joint Ventures | 0.23 | (0.17) | 0.36 | 0.06 | 0.71 | 2.60 |
| 56 | Profit/(Loss) before Tax (3+4)Tax Expense | 47.44 | 19.23 | 22.82 | 66.67 | (6.30) | 147.75 |
| i) Current tax | 12.75 | 4.42 | 7.54 | 17.17 | (3.86) | 27.75 | |
| ii) Deferred tax | 3.24 | 2.10 | (0.12) | 5.34 | 1.76 | 19.34 | |
| 15.99 | 6.52 | 7.42 | 22.51 | (2.10) | 47.09 | ||
| Total Tax Expense | |||||||
| 7 | Profit/(Loss) for the period / year, (5-6) | 31.45 | 12.71 | 15.40 | 44.16 | (4.20) | 100.66 |
| Other Comprehensive Income/(Loss) | |||||||
| A. (i) Items that will not be reclassified to profit/(loss) | (0.39) | (0.03) | 0.91 | (0.42) | 1.15 | 5.94 | |
| (ii) Income Tax relating to items that will not be reclassified to | 0.14 | - | (0.28) | 0.14 | (0.38) | (1.85) | |
| Profit and Loss | |||||||
| B. (i) Items that will be reclassified to profit/(loss)(ii) Income Tax relating to items that will be reclassified toProfit/(Loss) | (0.09)- | 0.92- | (0.98)- | 0.83- | (1.07)- | (1.62)- | |
| 8 | Other Comprehensive Income/(Loss) | (0.34) | 0.89 | (0.35) | 0.55 | (0.30) | 2.47 |
| 9 | Total Comprehensive Income / (Loss) for the period / year (7+8) | 31.11 | 13.60 | 15.05 | 44.71 | (4.50) | 103.13 |
| 10 | Profits / (Loss) for the period attributable to : | ||||||
| - Owners of the Company | 31.36 | 12.69 | 15.32 | 44.05 | (4.06) | 100.35 | |
| 11 | - Non-controlling interestOther Comprehensive Income / (Loss) for the period attributable to : | 0.09 | 0.02 | 0.08 | 0.11 | (0.14) | 0.31 |
| - Owners of the Company- Non-controlling interest | (0.37)0.03 | 0.880.01 | (0.33)(0.02) | 0.510.04 | (0.25)(0.05) | 2.55(0.08) | |
| 12 | Total Comprehensive Income for the period / (Loss) attributable to : | ||||||
| - Owners of the Company | 30.99 | 13.57 | 14.99 | 44.56 | (4.31) | 102.90 | |
| - Non-controlling interest | 0.12 | 0.03 | 0.06 | 0.15 | (0.19) | 0.23 | |
| 1314 | Paid Up Equity Share Capital (Face Value of the share - ₹. 2/- each)Reserve excluding Revaluation Reserves as per balance sheet of previous | 19.26- | 19.26- | 19.26- | 19.26- | 19.26- | 19.26865.92 |
| accounting year | |||||||
| 15 | Earnings Per Share (EPS) (in ₹.) (not annualised)a) Basic | 3.27 | 1.32 | 1.59 | 4.59 | (0.45) | 10.42 |
| b) Diluted | 3.27 | 1.32 | 1.59 | 4.59 | (0.45) | 10.42 | |
| 16 | Capital Redemption Reserve | 2.34 | 2.34 | 2.34 | 2.34 | 2.34 | 2.34 |
| 17 | Net Worth | 890.62 | 898.15 | 777.11 | 890.62 | 777.11 | 884.58 |
| 18 | Paid up Debt Capital / Outstanding Debt | 405.93 | 487.63 | 768.48 | 405.93 | 768.48 | 454.80 |
| 19 | Debt Service Coverage Ratio (DSCR) | 6.02 | 3.00 | 2.17 | 4.50 | 0.70 | 1.85 |
| 20 | Interest Service Coverage Ratio (ISCR) | 6.58 | 3.28 | 2.43 | 4.92 | 0.78 | 3.67 |
| 21 | Debt Equity Ratio | 0.46 | 0.54 | 0.99 | 0.46 | 0.99 | 0.54 |
| 2223 | Current RatioLong term debt to working capital | 1.300.60 | 1.310.57 | 1.240.97 | 1.300.60 | 1.240.97 | 1.260.59 |
| 24 | Current liability ratio | 0.83 | 0.83 | 0.80 | 0.83 | 0.80 | 0.85 |
| 25 | Bad debts to Account receivable ratio | - | - | - | - | - | 0.03 |
| 26 | Total debt to total assets | 0.12 | 0.15 | 0.25 | 0.12 | 0.25 | 0.13 |
| 27 | Debtors turnover (No. of days) | 52.90 | 59.44 | 68.98 | 58.18 | 82.80 | 70.57 |
BLUE STAR LIMITED Registered Office : Kasturi Buildings, Mohan T. Advani Chowk, Jamshedji Tata Road, Mumbai 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 HALF YEAR ENDED SEPTEMBER 30, 2021
NOTES:
1 The Audit Committee has reviewed and the Board of Directors has approved the above results at their respective meetings held on 28th October 2021.
2 Financial Results of Blue Star Limited (Standalone Information) :
| ₹ in Crores | ||||||||
|---|---|---|---|---|---|---|---|---|
| STANDALONE | ||||||||
| PARTICULARS | Quarter Ended | Half Year Ended | Year Ended | |||||
| 30.9.21 | 30.6.21 | 30.9.20 | 30.9.21 | 30.9.20 | 31.3.21 | |||
| Revenue from operations | 1,094.40 | 954.34 | 803.77 | 2,048.74 | 1,329.97 | 3,842.23 | ||
| Profit before tax (after exceptional item) | 32.78 | 13.88 | 11.83 | 46.66 | (32.40) | 98.35 | ||
| Profit after tax | 21.16 | 9.16 | 7.58 | 30.32 | (22.94) | 65.93 | ||
| Total Comprehensive Income | 20.91 | 9.16 | 8.11 | 30.07 | (22.20) | 69.40 | ||
28 Inventory turnover (No. of days) 80.31 99.82 96.21 89.13 119.30 97.75 29 Operating margin (%) 5.7% 4.0% 6.1% 4.9% 3.7% 5.6% 30 Net profit margin (%) 2.5% 1.2% 1.7% 1.9% -0.3% 2.3%
- 3 The Group continues to monitor the economic effects of COVID-19 on its business. Based on the current evaluation by the management, the carrying amounts of the assets are considered recoverable.
- 4 The Code on Social Security, 2020 ('the Code') received presidential assent on September 28, 2020. However, the date on which the Code will come into effect has not yet been notified. The Group will record any related financial impact of the Code in the books of account, in the period(s) in which the Code becomes effective.
- 5 Additional disclosure as per Regulation 52(4) of SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015.
- i The Company has alloted unsecured redeemable non-convertible debentures (NCDs) on June 1, 2020. Total Non-Convertible Debenture of the Company outstanding as on September 30, 2021 are Rs. 350 crore. The asset cover in respect of the non-convertible debenture of the Company as on September 30, 2021 exceeds hundred percent of the principal amount of the said listed unsecured Non-Convertible Debentures.
| ii Details of Non - Convertible debentures are as follows | ₹ in Crores | ||||
|---|---|---|---|---|---|
| PARTICULARS | Previous Due Date | Next Due Date | |||
| Amount | Date | Amount | Date | ||
| 7.65% Non Convertible Debentures (Series - I) - Principal | - | - | 175.00 | 01-Jun-23 | |
| 7.65% Non Convertible Debentures (Series - I) - Interest | 13.39 | 01-Jun-21 | 13.39 | 01-Jun-22 | |
| 7.65% Non Convertible Debentures (Series - II) - Principal | - | - | 175.00 | 01-Jun-23 | |
| 7.65% Non Convertible Debentures (Series - II) - Interest | 13.39 | 01-Jun-21 | 13.39 | 01-Jun-22 |
iii The NCDs issued by the Company are rated by CARE AA+ (Outlook : Negative)
iv Net worth as per section 2(57) of the Companies Act, 2013
DSCR = [Earnings before interest and Tax ] / [Interest expenses + Principal repayments made during the period for long term loans]
ISCR = [Earnings before Interest and Tax ] / Interest expenses
Debt / Equity Ratio = Total Debt (Non-current borrowings + current borrowings) / Equity
- Current Ratio = Current Assets / Current Liabilities
- Long term debt to working capital = [Non-Current Borrowings + Current Maturities of Non-Current Borrowings] / [Current Assets less Current Liabilities (Excluding Current Maturities of Non-Current Borrowings)]
Current liability ratio = Current liabilities / Total liabilities
Bad debts to Account receivable ratio = Bad debts / Average gross account receivable
Total debt to total assets = Total debt (Non-current borrowings + current borrowings) / Total assets
Debtors turnover (no. of days) = Avg Debtors for the period / Turnover for the period X Number of days in reporting period.
Inventory turnover (no. of days) = Avg Inventory for the period / Cost of Goods Sold for the period X Number of days in reporting period. Operating margin (%) = Operating EBITDA (Profit before tax - Other income + Finance charges + Depreciation) / Revenue from operations X 100
Net profit margin (%) = Profit/(Loss) for the period / Total income X 100
| 6 Details of Commercial Papers are as follows - | ₹ in Crores | ||
|---|---|---|---|
| Period | AmountOutstanding | Rating | |
| September 30, 2021 | - | CARE A1+, | |
| CRISIL A1+ | |||
| March 31, 2021 | - | CARE A1+, | |
| CRISIL A1+ |
7 The Company is in compliance with the requirements of SEBI circular dated November 26, 2018 applicable to Large Corporate Borrowers (Refer Note 5).
8 The Asset Coverage Ratio as at September 30,2021 is 2.9 times as per Regulation 54(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.
9 Previous period / year's figures have been regrouped / rearranged wherever necessary.
Date : October 28, 2021
Place : Mumbai For BLUE STAR LIMITED
www.bluestarindia.com Vir S. Advani (DIN : 01571278) Vice Chairman and Managing Director
BLUE STAR LIMITED
UNAUDITED SEGMENT WISE REVENUE, RESULTS & CAPITAL EMPLOYED FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2021
| ₹ in Crores | |||||||
|---|---|---|---|---|---|---|---|
| Consolidated | |||||||
| SR.NO | PARTICULARS | QUARTERENDED(UNAUDITED) | QUARTERENDED(UNAUDITED) | QUARTERENDED(UNAUDITED) | HALF YEARENDED(UNAUDITED) | HALF YEARENDED(UNAUDITED) | YEAR ENDED(AUDITED) |
| 30.9.21 | 30.6.21 | 30.9.20 | 30.9.21 | 30.9.20 | 31.3.21 | ||
| I | SEGMENT REVENUEa. Electro- Mechanical Projects and Commercial Air Conditioning Systemsb. Unitary Productsc. Professional Electronics and Industrial SystemsTOTAL SEGMENT REVENUE | 723.40454.7161.631,239.74 | 505.24505.3741.431,052.04 | 540.83318.6542.64902.12 | 1,228.64960.08103.062,291.78 | 853.27593.5081.371,528.14 | 2,218.721,868.28176.594,263.59 |
| II | SEGMENT RESULTPROFIT BEFORE INTEREST & TAXa. Electro- Mechanical Projects and Commercial Air Conditioning Systemsb. Unitary Productsc. Professional Electronics and Industrial SystemsTOTAL SEGMENT RESULTLess: i) Interest and Other Financial Chargesii) Un-allocable Expenditure | 46.5423.269.8379.6311.1821.24 | 0.0720.0321.775.5647.3610.7317.23 | 34.4111.738.1554.2917.8513.98 | 66.5745.0315.39126.9921.9138.47 | 23.887.9718.3350.1836.3920.80 | 106.49108.8233.81249.1264.7239.25 |
| PROFIT BEFORE SHARE OF PROFIT/(LOSS) OF JOINT VENTURES | 47.21 | 19.40 | 22.46 | 66.61 | (7.01) | 145.15 | |
| III | SEGMENT ASSETSa. Electro- Mechanical Projects and Commercial Air Conditioning Systemsb. Unitary Productsc. Professional Electronics and Industrial Systemsd. Un-allocable Corporate Assets | 1,547.47956.98143.22623.36 | 1,656.93952.6657.08617.79 | 1,535.53684.7858.80769.29 | 1,547.47956.98143.22623.36 | 1,535.53684.7858.80769.29 | 1,664.85986.9762.36835.27 |
| TOTAL SEGMENT ASSETS | 3,271.03 | 3,284.46 | 3,048.40 | 3,271.03 | 3,048.40 | 3,549.45 | |
| IV SEGMENT LIABILITIESa. Electro- Mechanical Projects and Commercial Air Conditioning Systemsb. Unitary Productsc. Professional Electronics and Industrial Systemsd. Un-allocable Corporate LiabilitiesTOTAL SEGMENT LIABILITIES | 1,210.29470.90122.45573.592,377.23 | 1,152.19547.8472.08611.002,383.11 | 981.16326.3367.77892.932,268.19 | 1,210.29470.90122.45573.592,377.23 | 981.16326.3367.77892.932,268.19 | 1,240.69757.7178.50584.692,661.59 | |
| V | CAPITAL EMPLOYED(Segment Assets - Segment Liabilities)a. Electro- Mechanical Projects and Commercial Air Conditioning Systemsb. Unitary Productsc. Professional Electronics and Industrial Systemsd. Un-allocable Corporate Assets less LiabilitiesTOTAL CAPITAL EMPLOYED IN THE COMPANY | 337.18486.0820.7749.77893.80 | 504.74404.82(15.00)6.79901.35 | 554.37358.45(8.97)(123.64)780.21 | 337.18486.0820.7749.77893.80 | 554.37358.45(8.97)(123.64)780.21 | 424.16229.26(16.14)250.58887.86 |
Note : -0.31 -0.10 -0.82
1 Based on the "management approach" as defined in Ind AS 108-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.
3 Previous period / year's figures have been regrouped / rearranged wherever necessary.
For BLUE STAR LIMITED
Date : October 28, 2021 Place : Mumbai
Vir S. Advani Vice Chairman and Managing Director (DIN : 01571278)
BLUE STAR LIMITED
CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES AS AT SEPTEMBER 30, 2021
| ₹ in Crores | |||
|---|---|---|---|
| SR. | AS AT | AS AT | |
| NO | PARTICULARS | (UNAUDITED) | (AUDITED) |
| 30.9.21 | 31.3.21 | ||
| A | ASSETS | ||
| 1. Non-Current Assets | |||
| (a) Property Plant and Equipment | 281.32 | 269.23 | |
| (b) Right-of-use assets | 49.63 | 50.07 | |
| (c) Capital Work in Progress | 73.53 | 68.11 | |
| (d) Investment Property | 11.51 | 11.95 | |
| (e) Intangible Assets | 46.68 | 52.31 | |
| (f) Intangible Assets under development | 3.66 | 3.42 | |
| (g) Investment in Joint Venture | 15.78 | 15.91 | |
| - Loans | 2.92 | 6.49 | |
| - Other Financial Assets | 22.19 | 21.94 | |
| (h) Income tax Asset (Net) | 78.27 | 86.20 | |
| (i) Deferred Tax Assets (Net) | 42.15 | 47.49 | |
| (j) Other non current assets | 75.98 | 56.77 | |
| Total - Non Current Assets | 703.62 | 689.89 | |
| 2. Current Assets | |||
| (a) Inventories | 821.53 | 882.42 | |
| (b) Financial Assets | |||
| -Investments | 25.01 | 279.06 | |
| -Loans | 8.46 | 8.21 | |
| -Trade Receivables | 812.66 | 810.98 | |
| -Cash and cash equivalents | 338.58 | 327.93 | |
| -Other bank balances | 4.08 | 4.23 | |
| -Other Financial Assets | 11.79 | 12.16 | |
| (c) Other Current Assets | 545.22 | 534.47 | |
| Asset held for sale | 0.08 | 0.08 | |
| Total Current Assets | 2,567.41 | 2,859.55 | |
| TOTAL - ASSETS | 3,271.03 | 3,549.45 | |
| B | EQUITY AND LIABILITIES | ||
| 1. Equity | |||
| (a) Equity Share Capital | 19.26 | 19.26 | |
| (b) Other Equity | 871.96 | 865.92 | |
| Equity attributable to equity holders of the company | 891.22 | 885.18 | |
| 2. Non controlling interest | 2.58 | 2.68 | |
| Total Equity | 893.80 | 887.86 | |
| 3. Non-Current Liabilities | |||
| (a) Financial Liabilities | |||
| - Borrowings | 348.81 | 349.26 | |
| - Lease Liability | 29.83 | 31.23 | |
| (b) Provisions | 10.43 | 10.82 | |
| (c) Government Grants | 8.89 | 8.83 | |
| Total - Non-current liabilities | 397.96 | 400.14 | |
| 4. Current Liabilities | |||
| (a) Financial Liabilities | |||
| -Borrowings | 57.12 | 102.34 | |
| -Trade Payables | |||
| i. Total outstanding dues of Micro Enterprises and small enterprises | 43.79 | 66.97 | |
| ii.Total outstanding dues of creditors other than Micro Enterprises and small | 1,291.56 | 1,537.92 | |
| enterprises | |||
| - Lease Liability | 23.03 | 24.10 | |
| -Other Financial Liabilities | 23.00 | 36.81 | |
| (b) Provisions | 56.06 | 48.37 | |
| (c) Government Grants | 1.91 | 2.33 | |
| (d) Income Tax Liabilities (Net) | 0.32 | 0.59 | |
| (e) Other Current Liabilities | 482.48 | 442.02 | |
| Total - Current Liabilities | 1,979.27 | 2,261.45 | |
| TOTAL - EQUITY AND LIABILITIES | 3,271.03 | 3,549.45 | |
For BLUE STAR LIMITED
Date : October 28, 2021 Place : Mumbai
Vir S. Advani Vice Chairman and Managing Director (DIN : 01571278)
BLUE STAR LIMITED CONSOLIDATED CASH FLOW STATEMENT FOR HALF YEAR ENDED SEPTEMBER 30, 2021
| ₹ in Crores | ||
|---|---|---|
| For the half year ended | ||
| Particualrs | 30.9.21 | 30.9.20 |
| Unaudited | Unaudited | |
| CASH FLOW FROM OPERATING ACTIVITIES | ||
| Profit/(Loss) for the period / year | 66.67 | (6.30) |
| Adjustments to reconcile profit/(loss) before tax to net cash flows | ||
| Depreciation/ amortization expenses | 40.48 | 41.53 |
| Amortisation of Government Grant | (2.01) | (1.05) |
| Fair Value (Gain) / loss on financial instruments | (0.02) | 2.08 |
| Loss/(Profit) on sale of fixed assets | (0.03) | 0.38 |
| Bad debts written off and provision for doubtful debts | 5.65 | 22.14 |
| Unrealized foreign exchange loss / (gain) | 0.05 | (6.77) |
| Liabilities written back | (11.97) | (4.97) |
| Share of profit of a joint venture | (0.06) | (0.71) |
| Finance Cost | 21.92 | 36.39 |
| Rental Income | (0.32) | (3.24) |
| Interest income | (8.68) | (5.85) |
| Income from mutual fund | (2.43) | (1.74) |
| OPERATING PROFIT/(LOSS) BEFORE WORKING CAPITAL CHANGES | 109.25 | 71.89 |
| Increase/ (Decrease) in working capital : | ||
| Trade Payables | (257.26) | (652.27) |
| Provisions | 11.88 | 2.03 |
| Other current liabilities | 41.68 | (40.82) |
| Trade receivables | (3.79) | 169.12 |
| Inventories | 60.91 | 227.60 |
| Loans | (5.63) | (10.20) |
| Other assets | (9.64) | 109.43 |
| Cash generated/(used) from operations | (52.60) | (123.22) |
| Direct taxes paid (net of refunds) | (9.38) | (4.13) |
| Net cash flow from/ (used in) operating activities (A) | (61.98) | (127.35) |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchase of Property Plant and equipments, including CWIP and capital advances | (57.62) | (14.81) |
| Sales / (Purchase) of investments | 254.04 | (196.81) |
| Proceeds from sale of Property, Plant and Equipment | 0.06 | 0.16 |
| Rent Received | 0.32 | 3.24 |
| Interest received | 8.10 | 5.48 |
| Income from mutual fund | 2.43 | 1.74 |
| Net cash flow from/ (used in) investing activities (B) | 207.33 | (201.00) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds / (repayment) from Short Term Borrowings | (47.42) | (35.01) |
| Proceeds from Long Term Borrowings | - | 350.00 |
| Repayment of Long Term Borrowings | (1.59) | (3.77) |
| Repayment of Lease Liabilities | (12.67) | (11.21) |
| Interest and Bank charges | (35.38) | (28.31) |
| Dividend paid on equity shares | (38.40) | (1.89) |
| Net cash flow from/ (used in) in financing activities (C) | (135.46) | 269.81 |
| NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS (A + B + C) | 9.89 | (58.54) |
| Cash and cash equivalents at the beginning of the period | 327.93 | 286.15 |
| Effect of exchange differences on restatement of foreign currency cash & cash | 0.76 | - |
| equivalents. | ||
| CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD | 338.58 | 227.61 |
For BLUE STAR LIMITED
Date : October 28, 2021 Place : Mumbai
Vir S. Advani Vice Chairman and Managing Director (DIN : 01571278)
| Annexure A | ||||||||
|---|---|---|---|---|---|---|---|---|
| Additional disclosure on Commercial Papers as per regulation 52(4) of SEBI (Listing Obligations and | ||||||||
| Disclosure Requirements), Regulations 2015, for the year ended September 30, 2021 | ||||||||
| Sr.ISINDate of IssueMaturity DateNo. | Principal Amount(₹ in Crores) | Whether paidon due dateor not | OutstandingAmount as onSeptember 30,2021 (₹ in Crores) | |||||
| 1 | INE472A14LT3 | 29-04-2020 | 23-10-2020 | 50.00 | Yes | - | ||
| 2 | INE472A14LU1 | 10-06-2020 | 15-03-2021 | 100.00 | Yes | - | ||
| 3 | INE472A14LW7 | 15-06-2021 | 13-09-2021 | 25.00 | Yes | - | ||
| 4 | INE472A14LX5 | 18-06-2021 | 16-09-2021 | 25.00 | Yes | - | ||
| 5 | INE472A14LY3 | 02-07-2021 | 29-09-2021 | 50.00 | Yes | - |