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Place: Mumbai Financial PerformanceCentral airconditioning and commercial refrigeration major Blue Star has reported Total Income of Rs 1607 crores for the year ended March 31, 2007, representing 36% growth over last year. Net Profit grew 46% to Rs 71.18 crores, while Earnings Per Share (Face value of Rs 2.00) increased to Rs 7.91 from Rs 5.44. DividendThe Directors have recommended a final dividend of Rs. 0.60 per share, over and above the interim dividend of Rs 2.40 paid in March 2007. Thus the total dividend recommended for the financial year equals Rs 3.00 per share (Face value of Rs 2.00) representing 150% compared to 120% declared last year. The Company has paid attractive dividends consistently for the past 38 years, since its listing on the Bombay Stock Exchange in 1969. Segment-wise performanceBlue Star performed impressively in all 3 lines of business. The large central airconditioning business accounting for 70% of total revenues continued to show healthy growth of 37% during FY07. The IT/ITES and Retail segments were big growth drivers helping the Company to maintain market leadership in the Indian market. The cooling products business also registered impressive growth, increasing 37% in the year. The growth was driven by increased sales of split airconditioners as well as refrigeration products and cold chain equipment. Segment profit was up by 78% in the year. The professional electronics and industrial systems business continued to contribute significantly to the profitability of the Company. The business grew by a solid 30% during FY07. Orders booked during Q4FY07The Company bagged several prestigious orders during the quarter ended March 31, 2007 including orders from Hexaware, Chennai; Infosys, Pune; Reliance Retail; Jaipur Airport; Great Eastern Hotel, Kolkata; Moser Baer, Noida; Amritsar Airport; Galaxy Mercantiles, New Delhi; KG Information Systems, Coimbatore and RMZ Infinity Tower, Bangalore. OutlookAshok M Advani, Chairman and Managing Director says "The Company continues to sustain its momentum of high growth in all business segments. Although central airconditioning remains our biggest business, cooling products and the professional electronics business have also grown impressively. Blue Star's leadership position, reputation and brand equity, have helped us to continue to be the preferred choice for customers seeking expert solutions. While lack of skilled technical manpower is a concern area for industry, our Corporate values and beliefs and our work culture has helped us immensely to attract and retain talent. With a promising outlook for all three lines of business and a healthy order backlog, I remain confident about the overall prospects of Blue Star." For additional information, please contact: B Thiagarajan, Executive Vice President, Blue Star Limited, Bandbox House, 254D, Dr Annie Besant Road, Worli, Mumbai – 400 030 email: bthiagarajan@bluestarindia.com, Telephone: 66544000.  Place: Mumbai Central airconditioning and commercial refrigeration major Blue Star has declared an interim dividend of Rs 2.40 on each equity share of face value Rs 2.00 (120%) for the financial year ending March 31, 2007. For additional information, please contact: B Thiagarajan, Executive Vice President, Blue Star Limited, Band Box House, 254D, Dr Annie Besant Road, Worli, Mumbai – 400 030 email: bthiagarajan@bluestarindia.com, Telephone: 66544000. Place: Mumbai Central airconditioning and commercial refrigeration major, Blue Star, is setting up a major manufacturing facility at Wada (Thane District) in Maharashtra. The factory will be located over an area of around 35 acres and will manufacture both airconditioning and refrigeration equipment for the domestic and the international markets. Phase I of the factory will be completed in March 2008, although partial production will begin from December 2007. Blue Star has been growing at over 25% for several years resulting in substantial demand for the Company's manufactured products. To cope with this growth, the three older plants at Thane, Bharuch and Dadra have been steadily expanded and modernized and a 4th factory built in 2005-06 in Himachal Pradesh. The unabated economic growth and positive business outlook for the Company has now created a need for a 5th manufacturing facility. According to Satish Jamdar, Executive Director, Blue Star, "A task force comprising senior managers evaluated several locations in the country for our fifth factory. Wada was chosen for its centralized location as well as its proximity to the Mumbai Port. To cope with the huge demand for our manufactured products, we plan to invest about Rs 35 crores in FY 2007-08 on Phase I of this plant. In the meanwhile, we will continue to upgrade our existing facilities". Place: Mumbai Central airconditioning and commercial refrigeration major Blue Star has reported a Total Income of Rs 370.55 crores for the quarter ended December 31, 2006 representing a growth of 40% over the corresponding period last year. Net Profit for the quarter grew 66% to Rs 11.50 crores, while Earnings Per Share (EPS) increased to Rs 1.28 from Rs 0.77. (Face Value per share is Rs 2.00 each) The Total Income for the nine months ended December 31, 2006 grew 36% to Rs 1060.08 crores. Net Profit for the same period increased from Rs 23.54 crores to Rs 37.19 crores representing an increase of 58% over the same period last year. The cumulative EPS for nine months stood at Rs 4.13 as against Rs 2.62 last year. The Company booked several prestigious orders during the quarter including orders from Kokilaben Dhirubhai Ambani Hospital, Mumbai; Accenture, Mumbai; Reliance Retail; Acropollis Mall, Ahmedabad; BHEL, Amarkantak; DLF IT Park, Secunderabad; NTPC, Barh; Lifestyle Mall, New Delhi; CISCO, Bangalore; Infosys, Mysore; and Microsoft Ph III, Secunderabad. Ashok M Advani, Chairman & Managing Director adds "Blue Star's leadership position, and the capability to offer expert solutions coupled with differentiated products, have enabled us to remain the preferred choice for customers. While the central airconditioning segment continues to be the largest growth driver, the fast growing cooling products business led by split airconditioners and commercial refrigeration products has performed very well. In addition, the professional electronics business continues to contribute significantly to the bottom line of the Company. With a promising outlook for sustained growth in all three lines of business, I remain confident about the overall prospects of Blue Star." For additional information, please contact: B Thiagarajan, Executive Vice President, Blue Star Limited, Band Box House, 254D, Dr Annie Besant Road, Worli, Mumbai - 400 030 email: bthiagarajan@bluestarindia.com, Telephone: 66544000. Place: Mumbai Blue Star, one of the leading central air conditioning companies in the country, is expanding its international presence. The company is eyeing the Middle East to expand its product range and enter into project exports, which comprise developing special purpose products and comfort applications. The company, with the annual turnover of Rs 1,178 crore, is considering a joint venture in Qatar to undertake projects such as offering specialised solutions for commercial buildings and cold storages, hospitals and hotels among others. B Thiagarajan, executive vice-president, Blue Star, told Business Standard, "While consolidating the domestic market, the company is looking at expanding its international presence and is evaluating partners to enter the project exports in the Middle East." The company is of the opinion that the local partner's client base coupled with its project management expertise will enable it to understand the local market better. Until 1999, Blue Star had a presence in the Middle East but had to back out from project exports due to stagnant economy and margin pressures. With the booming economy and a rising demand for air conditioning products, Blue Star is witnessing a positive growth in exports to the Middle East. At present, Blue Star exports products such as water coolers, windows and split air conditioners worth Rs 90 crore to the Middle East. However the company is also expanding its product line in the region by introducing new ranges like central air conditioners, rooftop chillers, air handling units, fan coil units etc. In India, central air conditioners are the key growth drivers for Blue Star with a market share of 30 per cent. In 2005-06, Blue Star's total revenues were Rs 1178 crore, registering 27 per cent increase over the previous year. Place: Mumbai Central airconditioning and commercial refrigeration major Blue Star has reported a Total Income of Rs 376.72 crores for the quarter ended Sep 30, 2006 representing a growth of 32% over the corresponding period last year. Net Profit for the quarter grew 59% to Rs 18.40 crores, while Earnings Per Share for the quarter increased to Rs 2.05 from Rs 1.29. For the half year ending Sep 30, 2006, Total Income stood at Rs 689.53 crores registering a growth of 34% over the corresponding period last year. Net Profit grew 54% to Rs 25.69 crores. The central airconditioning business continued to contribute significantly to the overall growth of the Company. During the quarter, this business grew 32% over the same period last year and contributed to 73% of the Company’s Net Sales. While the cooling products business performed well growing 20% during the quarter, the Professional Electronics and Industrial Equipment business grew significantly by 98%. The Company bagged several prestigious orders during the quarter including orders from Nagpur International Airport; Loreal, Pune; Delhi Institute of Liver & Billary Sciences, New Delhi; Glaxo Smithkline Beecham, Nasik; City Mall, Raipur; Alps Hospital, Gurgaon and Zydus Cadila, Sikkim. The carry-forward order book as of Sep 30, 2006 at Rs 788 crores represents a 45% improvement over the previous year. Ashok M Advani, Chairman & Managing Director adds "The Company continues to sustain its momentum of high growth in all business segments. We have also been able to significantly enhance our profitability by focusing on prudent value engineering and cost control measures. While availability of skilled technical manpower is a concern area for the industry, our values and beliefs and our work culture has helped us immensely to attract and retain talent. I remain optimistic about the business outlook." It may be recalled that the Company had reported a Net Profit of Rs 48.90 crores on a Total Income of Rs 1178.62 crores for the year ended March 31, 2006. For additional information, please contact: B Thiagarajan, Executive Vice President, Blue Star Limited, Band Box House, 254D, Dr Annie Besant Road, Worli, Mumbai - 400 030 Place: Mumbai Central airconditioning and commercial refrigeration major Blue Star has reported a Total Income of Rs 312.81 crores for the quarter ended June 30, 2006 representing a growth of 36% over the corresponding period last year. Net Profit for the quarter grew 45% to Rs 7.30 crores, while Earnings Per Share increased to Rs 4.06 from Rs 2.80. The central airconditioning business continued to contribute significantly to the overall growth of the Company. This business grew 36% during the quarter over the same period last year. The cooling products business also performed exceptionally well growing 45% during the quarter, and contributing to 36% of the Company's Net Sales. The Company bagged several prestigious orders during the quarter including orders from Megapolis Mall, Thane; Hester Pharmaceuticals, Mehsana; Satyam Phase V, Bangalore; Franklin Templeton, Secunderabad; Ascendas Intl Tech Park, Chennai; AB Motions, Ludhiana; DLF Cyber, Gurgaon and Infinity Benchmark, Kolkata. The carry-forward order book as of June 30, 2006 at Rs 688 crores represents a 72% improvement over the previous year. Ashok M Advani, Chairman adn Managing Director adds "Blue Star has performed exceptionally well on all fronts. Although central airconditioning remains our biggest business, cooling products have also grown impressively. Blue Star's leadership position, reputation and brand equity, have helped us continue to be the preferred choice for customers seeking expert solutions. While the rise in input costs of steel, copper and other metals remains a challenge, we have largely offset these with a focus on value engineering and a marginal increase in selling prices. I am confident that the Company will continue its momentum of profitable growth." It may be recalled that the Company had reported a Net Profit of Rs 48.90 crores on a Total Income of Rs 1178.62 crores for the year ended March 31, 2006. The Company continued its trend of attractive dividends by declaring a dividend of 120%. For additional information, please contact: B Thiagarajan, Vice President, Airconditioning and Refrigeration Service, Blue Star Limited, Bandbox House, 254D, Dr Annie Besant Road, Worli, Mumbai - 400 030, email: bthiagarajan@bluestarindia.com, Telephone: 66544000 Place: Mumbai Central airconditioning and commercial refrigeration major Blue Star has reported a Total Income of Rs 263.82 crores for the quarter ended December 31, 2005 representing a growth of 18% over the corresponding period last year. Net Profit for the quarter grew 17% to Rs 6.91 crores, while Earnings Per Share (EPS) increased to Rs 3.84 from Rs 3.30. The Total Income for the nine months ended December 31, 2005 grew 27% to Rs 778.65 crores. Net Profit for the same period increased from Rs 18.28 crores to Rs 23.54 crores representing an increase of 29% over the same period last year. The cumulative EPS for nine months stood at Rs 13.09 as against Rs 10.16 last year. The Company bagged several prestigious orders during the quarter including orders from State Bank of India, Mumbai; Deen Dayal Upadhyay Hospital, New Delhi; High Life Mall, Mumbai; Accenture, Bangalore; Syngenta, Goa; and Select City Mall, New Delhi. Ashok M Advani, Chairman & Managing Director adds "Blue Star's new order inflow continues at a very healthy rate with no sign of slowing down. The moderation in billings growth in Q3 was partly due to normal seasonal factors and partly because of phasing in of enhanced capacity and changes in product mix at three of the manufacturing plants. These changes have now been completed and billings growth should once again accelerate in Q4." It may be recalled that Blue Star had reported a Net Profit of Rs 39.16 crores on a Total Income of Rs 930.92 crores for the year ended March 31, 2005. The Company continued its trend of attractive dividends by declaring a dividend of 100%. Airconditioning is no longer just cooling. Just as in the case of developed countries, in India also the concepts of Indoor Air Quality and Energy Efficiency are gaining importance. The customers, leading consultants and project managers are seeking high quality of Indoor Air, and scientifically proven terminologies such as "Productive Office", "Sick Building Syndrome", "Indoor Air Quality Management" are being talked about. Fresh air brings in good environment, but in an airconditioned space, fresh air also adds to the heatload, because fresh air is warmer than the airconditioned space. Therefore, while managing to provide adequate quantity of fresh air, one must keep the heatload under control, and also achieve power savings at the same time. Blue Star, India's largest central airconditioning and commercial refrigeration company has joined hands with Arctic India Engineering Pvt. Ltd., a world leader in manufacturing Indoor Air Quality and Engineering Recovery Products to provide Air Management Solutions. Blue Star has over six decades of experience in providing expert cooling solutions, whereas Arctic India Engineering is a world leader in Energy Recovery Systems such as Heat Recovery Wheels, Eco Fresh Energy Recovery Ventilators and Eco Cool Evaporative Cooling Pads. In a joint statement, Mr. Deepak Pahwa, Managing Director, Arctic India Engineering Pvt. Ltd. and Mr. B. Thiagarajan, Vice President, Blue Star Limited said, "The mission of our alliance is to provide, promote and facilitate the quality air management in the region which will allow people living and working in conditioned spaces to breathe better quality air and, at the same time help building owners and managers to cut down their energy costs. This is even more important considering the fact that people are beginning to spend almost 80% of their time in airconditioned spaces. Moreover energy resources are dwindling while energy costs and health related issues in airconditioned spaces are spiraling. As leaders in the field, we have come together to promote Indoor Air Quality and Energy Savings". For further information, please contact Mr. B. Thiagarajan, Vice President, Blue Star Limited, Band Box House, 4th floor, 254-D Dr. Annie Besant Road, Worli, Mumbai 400 018, Tel No. 91-22-5654 4030, e-mail: bthiagarajan@bluestarindia.com Central airconditioning and commercial refrigeration leader, Blue Star, has received a prestigious order valued at over Rs 9 crores from Patni Computers to aircondition their new IT centre coming up in MIDC Knowledge Park, Airoli, Navi Mumbai. This proposed IT centre called Patni Knowledge Park has an area of nearly seven lakh square feet and will house 17,000 workstations. Blue Star will be responsible for the supply, installation and testing of the entire airconditioning system totaling to 2400 TR. The equipment to be provided include air cooled screw chillers, double skin air handling units, fan coil units, grilles, diffusers, insulation and electricals amongst others. The airconditioning will be carrired out in two phases. The first phase is expected to be completed in five months and will accommodate 5000 workstations, while the second phase will be completed in a year's time. Blue Star has a substantial share in the airconditioning of the IT industry and has airconditioned several software development centres in the country. Owing to its reputation of high quality products, project execution skills and on-time delivery, Blue Star enjoys a preferred vendor status in this segment. The Company's deep understanding of the science of cooling coupled with focus on issues such as indoor air quality and energy efficiency have helped the Company maintain its leadership position in the central airconditioning business for over two decades. Central airconditioning and commercial refrigeration major, Blue Star has launched UVC Emitters in association with Steril-Aire, USA. UVC Emitters is a technological break-through product which helps substantially improve Indoor Air Quality by destroying viruses and bacteria. Indoor Air Quality is an extremely important parameter in all airconditioned spaces. Poor Indoor Air Quality leads to illnesses like migraine, tiredness, depression etc. In case of hospitals, restaurants or pharmaceuticals, this may lead to contamination and malfunction. The UVC Emitters launched by Blue Star generate ultraviolet (UV) energy in the 260-nanometer frequency. This UV energy kills or inactivates microbes, eradicating surface and airborne mold, as well as viruses and bacteria. Further, it also prevents the spread of infectious diseases caused by bacteria (including TB, Legionella, E. coli, and whooping cough) and viruses (including colds, flu, measles, German measles, chicken pox, small pox and SARS). These UVC Emitters also lower the airconditioning power costs by improving heat transfer and increasing net cooling capacity. It also continuously cleans coils, drain pans, plenums and ducts, reducing or eliminating costly cleaning programs and the use of harmful chemicals and disinfectants. UVC Emitters are ideal for offices, government buildings, retail stores, malls, hotels, hospitals, medical offices, clinics, laboratories, institutions etc. The cost of UVC lamps is recovered within 12-18 months by way of power savings and reduced operational expenses. The benefits from improved air quality resulting in better health cannot be quantified. According to Satish Jamdar, Executive Director, Blue Star "The focus in airconditioning maintenance traditionally was break-down maintenance. However, recently we have been focusing on important issues such as Energy Management, Indoor Air Quality Management and Water Management. We have migrated to higher levels in customer centric cooling solutions by offering a bundle of benefits which include uptime guarantee, savings in power bills and improved indoor quality." Blue Star, India's largest central airconditioning and commercial refrigeration company has launched a new range of screw chillers used in centrally airconditioning large spaces. Manufactured at its factory in Thane, these screw chillers come in a quality range of six models varying from 75 TR to 204 TR and are designed keeping in mind the coastal climatic conditions where chances of corrosion are high. Due to lesser moving parts, these chillers are reliable and rugged. Further, with its stepless capacity control, they provide better energy efficiency under part loads. These chillers are ideal for varying load applications such as multiplexes, malls, offices, hospitals and hotels. The Blue Star screw chillers incorporate compressors from the reputed Hanbell Precise Machinery Co Ltd, Taiwan. Hanbell is one of the largest manufacturers of such compressors and is widely used in chillers in Europe. The chillers also incorporate microprocessor based controls which help in accurate operation and protection as well as remote monitoring. Central airconditioning and commercial refrigeration leader, Blue Star has bagged a prestigious order from Oberoi Constructions Pvt. Ltd. for airconditioning their new mall being set up in Goregaon (E), Mumbai. The area to be airconditioned is around 5 lakh sq ft with a total cooling load requirement of 2400 TR. The proposed shopping mall will house top players in retail like Lifestyle, Westside, Big Bazaar and Pantaloons to name a few; as well as a food court, atrium, cafeteria, theme restaurant and entertainment areas. One of the major attractions to the visitors would be an 8 screen mutiplex with a 2000 seater capacity, perhaps the largest in Mumbai. Blue Star has in the recent past bagged several airconditioning orders of malls and multiplexes across the country. Owing to its reputation of high quality products, project execution skills and on-time delivery, Blue Star enjoys a preferred vendor status amongst the corporate and commercial segments. The Company's deep understanding of the science of cooling coupled with focus on issues such as indoor air quality and energy efficiency have helped the Company maintain its leadership position in the central airconditioning business for over two decades. Blue Star, India's largest central airconditioning company, has bagged a prestigious order valued at Rs 8 crores from National Thermal Power Corporation (NTPC) for airconditioning their power plant in Sipat, Chattisgarh. This power plant located at around 30 km from Bilaspur comprises 2 x 500 MW Stage 2 units 4 and 5. NTPC, a wholly owned company by the Govt of India, is India's largest thermal power generating company of the country generating a capacity of over 21,000 MW. Blue Star will aircondition the control rooms as well as office areas of the Plant. The scope of work includes design, engineering, manufacture, testing, erection, testing and commissioning of all airconditioning equipment. Equipment to be supplied include three 300 TR absorption chillers and two 200 TR screw chillers apart from 23 nos of double skin air handling units, cooling tower, chilled water and condensing pumps and other low side equipment. Blue Star has over six decades of experience in providing expert cooling solutions for a wide range of applications and this latest feather in Blue Star's cap will further strengthen its leadership position in the country. Energy is a critical resource, especially in a populated country like ours. The rising costs of power can have a major impact on the bottomline of any corporate or commercial organisation. Moreover, the availability of power is a major concern in several parts of the country. Airconditioning constitutes nearly 60-65% of the power consumption in office buildings and this figure rises to as high as 75% in hotels and hospitals. In fact, in today's service-driven new economy companies such as IT Services and BPOs, comfort airconditioning is a critical aspect of the work environment. These organisations often work on a 24 x 7 basis and airconditioning power expenses form a significant part of their cost of operations. Thus it becomes extremely critical and prudent to go in for energy efficient solutions in airconditioning. LegislationThe Government is also taking initiatives in the areas of energy conservation. The Bureau of Energy Efficiency (BEE) is a legislative body which will monitor energy consumption in industries and office buildings. All industries with a connected load of 5000 KW and above and all commercial establishments with a load of above 600 KW will fall under BEE's legislation. These establishments will be notified as "designated consumers" and will need to appoint an Energy Manager to monitor energy efficiency. Further, these establishments will have to carry out Energy Audits periodically and BEE will publish this data and classify the establishment as Platinum, Gold or Silver in energy efficiency, thereby creating benchmarks of energy efficiency in each industry. Further, shortly all airconditioning equipment will carry energy labels with a rating on energy efficiency, which will be under the direct supervision of BEE. Thus, considering these developments, energy efficiency will be a key thrust area for all establishments. Blue Star's focus on energy efficiencyBlue Star, India's leading airconditioning and commercial refrigeration company has been focusing on energy efficiency in airconditioning and is committed to the cause. Its product design and development focuses on energy efficiency improvement. The design of any airconditioning system and engineering envisages energy efficiency measures. Further, the Company is constantly adding auxillaries and energy saving gadgets in the plants installed and managed by the Company. Energy efficient productsBlue Star has launched several energy efficient airconditioning and commercial refrigeration products over the past decade. In the late nineties, the Company had launched airconditioners with the revolutionary scroll compressors which saved substantial power. A couple of years back, it provided a quantum leap in energy efficiency with airconditioning systems incorporating the breakthrough tandem scroll compressors. It is now launching the next generation digital scrolls which further save power. The screw chillers launched last year incorporate an electronic expansion valve and an advanced microprocessor controller which enhances power saving at part load conditions. The Company is in the process of launching new packaged airconditioners called "HiPer Plus" that are designed to optimize power consumption taking into consideration part load and peak load conditions. It has also launched split airconditioners which work on a three phase power supply which is more efficient than a single phase. Blue Star's product development team has constantly focused on energy efficient technologies and the products have been appreciated by the customers. Energy efficient design and engineeringThe design of an airconditioning system is often based on an extreme condition of maximum load and highest ambient temperature. However, research shows that this condition called peak load occurs only 1% of the time and designing the system based on this is highly energy inefficient. Blue Star's airconditioning design operates on a concept of Integrated Part Load Value (IPLV), which takes into account the number of hours of operation at various loads and optimizes equipment selection at part load where the equipment is expected to operate for the maximum period. This ensures energy efficiency at the design stage itself. In cold storages, the energy efficiency opportunity is substantial since the power consumed by cold storages is relatively high considering sub zero temperatures achieved. The cooling processes, humidity control and type of equipment determine the consumption of power. Auxillary energy saving devicesThere are several auxillary equipment which enhance energy saving. Variable Speed Drives (VSD) is one such important energy saving device which can be used in chillers, air handling units, pumps and other motors. Blue Star has partnered with Danfoss as their Energy Solution Partners, and as many as 40 engineers of Blue Star have been trained on VSDs. Air Distribution and Air Balancing play a critical role in energy savings. After all, the airconditioning load is determined by the distribution and balancing of air. Blue Star has developed expertise in the area of air balancing and offers devices such as variable air volume systems to optimize the same. The Company has also recently forayed into the area of duct cleaning. Clean ducts not only help in improving indoor air quality but also offer better efficiencies in air distribution. Further, the Company has launched UVC Emitters for destroying viruses, in association with Steril-Aire, USA as well as Water Management Systems for non chemical treatment of cooled water in collaboration with Ecospec. Both these devices also achieve power savings. Commitment to maximize power savingsAs part of its drive and initiative to constantly save power for its customers, the Company has recently formed an Energy Management Cell. This Cell has personnel who are accredited energy auditors and provide a preliminary walk through audit free of cost to all customers. The customer can opt for a detailed audit after which recommendations are submitted with guranteed power savings. Thus, Blue Star not only undertakes the energy audit but also the implementation with back-up guarantee. Speaking to the Press at a conference in Mumbai, Suneel M Advani, President & Vice Chairman, Blue Star Limited adds "Airconditioning comprises a major chunk of the power bills of most organizations. We are aware about the fact that even a small saving of power can have a major impact on the profitability of an enterprise. We have over six decades of experience in providing expert cooling solutions and recognize that being leaders we owe it to our customers to provide energy efficient cooling. We have been pioneers in introducing energy efficient technologies in the country and our initiatives in this area have been well received by our customers. We remain committed to maximize energy savings for our customers" Central airconditioning and commercial refrigeration major, Blue Star has partnered with Danfoss, Denmark to provide Energy Management Solutions for Heating, Ventilation and Airconditioning (HVAC) systems. Under this alliance, Blue Star will market and support Variable Frequency Drives of Danfoss exclusively in the country for HVAC applications. Variable Frequency Drives is a technological breakthrough product which helps bring down power bills dramatically. Airconditioning constitutes nearly 60-65% of the power consumption in office buildings and this figure rises to as high as 75% in hotels and hospitals. In fact, in today's service-driven new economy companies such as IT Services and BPOs, comfort airconditioning is a critical aspect of the work environment. These organisations often work on a 24x7 basis and airconditioning power expenses form a significant part of their cost of operations. Thus it becomes extremely critical and prudent to go in for energy efficient solutions in airconditioning. Danfoss, headquartered at Denmark, are the pioneers of variable frequency drives. It has over 54 factories in 20 countries and over a hundred sales offices. Danfoss is also a leading supplier of compressors and automated solutions for the refrigeration and airconditioning industry. Variable Frequency Drives, a technological break-throughMost airconditioning systems are not required to operate at full capacity. Yet there is no mechanism to take care of the varied demand. Consequently, this results in increased power bills and reduced operational efficiencies. The expensive airconditioning equipment is also subjected to wear and tear, and breakdowns. Variable Frequency Drives (VFD) is a unique device incorporating capacity control. The primary function of VFDs is to allow motors that run at constant speed to run at variable speeds instead. A small reduction in speed leads to a large reduction in energy consumed and in substantial energy savings. Variable Frequency Drives from DanfossDanfoss is one of the largest manufacturers of VFDs in the world, with a comprehensive range. VFDs from Danfoss offer several advantages:
Moreover, the VFDs are user friendly and perhaps one of the most cost effective ways to maximize efficiency and reduce operating costs. Attractive Pay-backDue to the dramatic energy savings that these devices produce, VFDs have a very attractive pay back period, making it an ideal long term investment. Moreover, there are additional savings owing to reduction in maintenance costs and enhanced life of the equipment. Commitment to maximize power savingsSpeaking to the Press at a joint press conference of Blue Star and Danfoss in Chennai, Mr Andrew Cooper, Director, Asia Pacific, Danfoss Motion Controls, said
Satish Jamdar, Executive Director, Blue Star Limited, who oversees the after-sales service business of the Company, added "Airconditioning comprises a major chunk of the power bills of most organizations. We are aware about the fact that even a small saving of power can have a major impact on the profitability of an enterprise. We have over six decades of experience in providing expert cooling solutions and recognize that being leaders we owe it to our customers to provide energy efficient solutions. The focus of airconditioning maintenance has traditionally been break-down maintenance. However, we have migrated to higher levels by focusing on critical issues such as Energy Management, Indoor Air Quality Management and Water Management and offering a bundle of benefits which include uptime guarantee, indoor air quality and savings in power bills. We remain committed to maximize energy savings for our customers" Blue Star FY06 Net Sales grows 28% to Rs 1175 crores. Declares 120% Dividend and 5 for 1 stock split.
Place: Mumbai FY06 performanceCentral airconditioning and commercial refrigeration major Blue Star has reported Net Sales of Rs 1174.56 crores for the year ended March 31, 2006, representing 28% growth over last year. Net Profit grew 25% to Rs 48.90 crores, while Earnings Per Share increased to Rs 27.18 from Rs 21.77. Total Income for the year grew 27% to Rs 1178.62 crores. Q4 FY06 performanceFor the quarter ended March 31, 2006, the Company reported Net sales of Rs 398.16 crores representing 27% growth over the corresponding quarter in the previous year. Total Income for the quarter at Rs 399.97 crores was up by 25%. Net profit for the quarter increased 21% over the same period last year to Rs 25.36 crores. DividendThe Directors have recommended a dividend of Rs. 12 per share compared to Rs 10 per share declared last year. The Company has paid attractive dividends consistently for the past 37 years, since its listing on the Bombay Stock Exchange in 1969. Stock SplitThe shares of the Company have a record of providing high returns, and in recent times the market price has grown substantially. In order to improve liquidity, the Board has recommended a stock split with each Rs 10 share being divided into 5 shares of face value Rs 2 each. Operating MarginsOperating profit (PBIDT excluding Other Income) for the year at Rs 86.68 crores showed an increase of 50% over Rs 57.85 crores earned in FY05. The operating margin improved to 7.4% in FY06 vs 6.3% achieved in FY05. Segment-wise performanceBlue Star performed impressively in all 3 lines of business. The large central airconditioning business accounting for 70% of total revenues continued to show healthy growth of 26% during the FY06. The IT/ITES and Retail segments were the big growth drivers helping the Company to maintain market leadership in the Indian market. The cooling products business also registered impressive growth, increasing 32% during Q4FY06 and 29% for the whole year. The growth was driven by increased sales of window and split airconditioners as well as refrigeration products and systems such as deep freezers, water coolers and cold storages. Segment profit spurted by 206% in the year. The professional electronics business continued to contribute significantly to the profitability of the Company. The business grew by a solid 36% during FY06. Orders booked during Q4FY06The Company bagged several prestigious airconditioning project orders during the quarter ended March 31, 2006 including orders from RMZ Infinity Tower, Bangalore; Big Bazaar, Hyderabad; Satyam, Secunderabad; DRDO Panagarh, West Bengal; DLF Aamex, Gurgaon; Sahara Hospital, Lucknow; Wakefield IT Park, Pune and Globsyn Crystals, Kolkata. Apart from these, during the quarter, the Company continued to receive business from national customers such as Café Coffee Day, Kotak Mahindra and Vishal Mega Mart. OutlookAshok M Advani, Chairman & Managing Director says "Blue Star's focus on profitable growth in its core businesses as well as the sustained buoyancy in the economic environment has contributed to the impressive financial performance of the Company. Our all-India network combined with the value proposition of energy efficiency, system design expertise and after-sales service excellence, has helped us to grow beyond the industry growth rates and maintain our market leadership. With a healthy order backlog, I am optimistic about the business outlook of the Company." For additional information, please contact: B Thiagarajan, Vice President, Airconditioning and Refrigeration Service, Blue Star Limited, Bandbox House, 254D, Dr Annie Besant Road, Worli, Mumbai - 400 030, email: bthiagarajan@bluestarindia.com, Telephone: 66544000 Place: Mumbai Central airconditioning and commercial refrigeration major Blue Star has reported a Total Income of Rs 284.72 crores for the quarter ended Sep 30, 2005 representing a growth of 36% over the corresponding period last year. Net Profit for the quarter grew 32% to Rs 11.59 crores, while Earnings Per Share increased to Rs 6.44 from Rs 4.86. For the half year ending Sep 30, 2005, the Total Income stood at Rs 514.84 crores registering a growth of 33% over the corresponding period last year. Net Profit grew 35% to Rs 16.63 crores. The order inflow of the Company continues to be healthy. The Company bagged several prestigious central airconditioning orders during the quarter including orders from Shopin Park, Delhi; BHEL at HPCL, Vizag; DGNP, Secunderabad; National Sports Club of India (NSCI), Mumbai; Sigma Aldrich, Bangalore; MSEB, Paras & Parli; Bombay Dyeing, Mumbai ; Cognizant Technology Solutions, Chennai and HSBC, Pune. Ashok M Advani, Chairman & Managing Director adds "Blue Star has performed exceptionally well on all fronts. Apart from the central airconditioning business, the cooling products business and the professional electronics segment have also registered impressive growth. We have capitalized on the opportunities available and have been able to leverage our leadership position, reputation and brand equity to further improve our market share, revenues and profits. The Company continues to sustain its momentum of high growth levels and I am optimistic about the business outlook." It may be recalled that Blue Star had reported a Net Profit of Rs 39.16 crores on a Total Income of Rs 930.92 crores for the year ended March 31, 2005. The Company continued its trend of attractive dividends by declaring a dividend of 100%. Place: Mumbai Financial PerformanceCentral airconditioning and commercial refrigeration major Blue Star has reported Net Sales of Rs 920.77 crores for the year ended March 31, 2005, representing 32% growth over last year. Net Profit grew 20% to Rs 39.16 crores, while Earnings Per Share increased to Rs 21.77 from Rs 18.10, on an equity base of Rs 17.99 crores. Total income for the year grew 30% to Rs 930.92 crores. For the quarter ended March 31, 2005, the Company reported Net sales of Rs 312.42 crores representing 25% growth over the corresponding quarter in the previous year. Total Income for the quarter at Rs 319.49 crores was up by 22%. Net profit for the quarter increased marginally over the same period last year to Rs 20.88 crores. The growth in Net Sales was fueled by buoyancy in the central airconditioning business, which grew by 36% during FY05. The Company bagged several prestigious orders during the quarter ended March 31, 2005 including orders from Bank of America, Mumbai; Patni Computers, Navi Mumbai; Ranbaxy, Mohali; HSBC, Secunderabad; Atos Origin, Mumbai; Oberoi Mall, Mumbai; Cross River Mall, Delhi; Saint Gobain, Chennai; Big Bazaar, Bangalore; Suzuki, Delhi; Polaris Software, Secunderabad; Wipro, Kolkata and Delhi; Ispat Industries, Mumbai and HCL Technologies, Chennai. DividendThe Directors have recommended a dividend of Rs. 10.00 per share compared to Rs 9.00 per share declared last year. The Company has paid attractive dividends for the past 35 years, since its IPO in 1969. New Plant at Kala Amb, Himachal PradeshBlue Star is in the process of setting up a fourth plant at Kala Amb in Himachal Pradesh with an investment of Rs 25 crores. The Plant is expected to be commissioned in the next few months and will manufacture room airconditioners. By setting up this new manufacturing facility, the Company intends to benefit from both the economies of scale of the new Plant, as well as the tax and duty incentives in the region. This will level the playing field vis-à-vis the growing competition, most of who are already benefiting from these incentives. This is in addition to the investments that the Company is making for the modernization and capacity expansion of the existing three plants. Ashok M Advani, Chairman & Chief Executive Officer adds "Blue Star's continued focus on growth and competitiveness in our core businesses, and efficient use of resources resulted in higher sales and profitability. We expect the central airconditioning market to grow at a healthy pace over the next few years. While the overall market growth potential may attract new entrants, Blue Star's all - India network combined with the value proposition of energy efficiency, system design expertise and after-sales service excellence, will ensure market leadership and profitable growth." For additional information, please contact: N Sivasankaran, Vice President, Corporate Communications and Marketing, Blue Star Limited, Kasturi Buildings, Mohan T Advani Chowk, J Tata Road, Mumbai - 400 020, email: nsivasankaran@bluestarindia.com, Telephone: 56654000 Place: Mumbai Central airconditioning and commercial refrigeration major Blue Star has reported a Total Income of Rs 224.14 crores for the quarter ended December 31, 2004 representing a growth of 52.4% over the corresponding period last year. Net Profit for the quarter grew 55.4% to Rs 5.93 crores, while Earnings Per Share (EPS) increased to Rs 3.30 from Rs 2.12. The Total Income for the nine months ended December 31, 2004 grew 34.8% to Rs 611.43 crores. Net Profit for the same period increased from Rs 12.04 crores to Rs 18.28 crores representing an increase of 51.9% over the same period last year. The cumulative EPS for nine months stood at Rs 10.16 as against Rs 6.69 last year. The Company bagged several prestigious orders during the quarter including orders from Ram Manohar Lohia Hospital, New Delhi; Times of India, Mumbai; Vascon Multiplex, Pune; RMZ Eco Space Building, Bangalore; DHL Worldwide Express, Mumbai; Sun Microsystems, Bangalore; HCL Technologies BPO Services, Chennai; Delhi High Court, New Delhi; Columbia Hospital, Bangalore; Altana Pharma, Mumbai; NTPC, Sipat and HSBC, Sri Lanka. Ashok M Advani, Chairman & Chief Executive adds "The Indian economy has been growing at rapid pace and with the construction boom, investments in infrastructure projects, and growth in the services sector, the net profit as well as revenue growth of the Company have substantially improved in the nine month period ended December 31, 2004. The favourable macro economic conditions and the Company's strong fundamentals in the airconditioning, commercial refrigeration and professional electronics business will help in sustaining profitable growth in the future as well as further strengthen its leadership position." It may be recalled that the Company had reported a Net Profit of Rs 32.55 crores on a Total Income of Rs 716.06 crores for the year ended March 31, 2004. For additional information, please contact: N Sivasankaran, Vice President, Corporate Communications and Marketing, Blue Star Limited, Kasturi Buildings, Mohan T Advani Chowk, J Tata Road, Mumbai - 400 020, email: nsivasankaran@bluestarindia.com, Telephone: 56654000. Place: Mumbai Central airconditioning and commercial refrigeration major Blue Star has reported a Total Income of Rs 209 crores for the quarter ended September 30, 2004 representing a growth of 27% over the corresponding period last year. Net Profit for the quarter grew 57% to Rs 8.75 crores, while Earnings Per Share (EPS) increased to Rs 4.86 from Rs 3.09. The total income for the half year ended September 30, 2004 grew 26% to Rs 387 crores. Net Profit for the same period increased from Rs 8.22 crores to Rs 12.36 crores representing an increase of 50% over the same period last year. The cumulative EPS for the half year stood at Rs 6.87 as against Rs 4.57 last year. The carry-forward order book as of September 30, 2004 at Rs 453 crores represents a 21% improvement over the previous year. The Company bagged several prestigious orders during the quarter including orders from Intelenet, Mumbai; National Stadium, Guwahati; HCL Technologies, Chennai and Delhi; ST Microelectronics, Noida; Microsoft, Hyderabad; i-Flex, Mumbai; Adlabs Films, Mumbai and Pune and Cognizant Technology Systems, Bangalore. Ashok M Advani, Chairman & Chief Executive adds "The Company's good performance is attributable primarily to the buoyancy in the central airconditioning business as well as the improved profitability in the cooling products segment. We expect the central airconditioning market to grow at a healthy pace over the next few years. While the current growth is being fueled by the services sector, we anticipate that with the expected revival in industrial investment, airconditioning demand from this sector will also contribute to the overall market growth in the medium term." It may be recalled that the Company had reported a Net Profit of Rs 32.55 crores on a Total Income of Rs 716.06 crores for the year ended March 31, 2004. Place: Mumbai Financial PerformanceCentral airconditioning and commercial refrigeration major Blue Star has reported a Total Income of Rs 716.06 crores for the year ended March 31, 2004, representing 19% growth over last year. Net Profit grew 5% to Rs 32.55 crores, while Earnings Per Share increased to Rs 18.10 from Rs 16.79. Order inflow for the 12 months through March 31, 2004 grew by 30% to Rs 800.70 crores from last year's figure of Rs 616.61 crores. The carry-forward order book as of March 31, 2004 at Rs 383.45 crores represents a 40% improvement over the previous year. DividendThe Directors have recommended a dividend of Rs. 9.00 per share. Last year the Company had declared a dividend of Rs 6.50 per share plus a special Diamond Jubilee dividend of Rs. 2.50. The Company has paid attractive dividends for the past 34 years, since its IPO in 1969. Ashok M Advani, Chairman & Chief Executive Officer says "Blue Star's continued focus on growth and competitiveness in our core businesses, and efficient use of resources resulted in higher sales and profitability. Over the years, Blue Star has reinvented itself again and again in line with the changing market environment, and has emerged as the company of choice for its customers, employees and business partners. With an objective of aggressive growth, the Company is implementing several strategic initiatives in augmenting manufacturing capacity, product innovation, information technology, channel development, exports and brand building. The last six months of 2003-04 produced excellent growth for the industry as a whole. As the construction boom, investments in infrastructure projects, and growth in the services sector continue, we have seen this momentum maintained in the new financial year for the airconditioning and refrigeration industry. With sound financials, trained manpower and expanding manufacturing capacity, Blue Star is well positioned to reap the benefits of these macro-economic trends." Place: Mumbai Central airconditioning and commercial refrigeration major Blue Star has reported a Total Income of Rs XXX.XX crores for the quarter ended June 30, 2005 representing a growth of YY% over the corresponding period last year. Net Profit for the quarter grew XX% to Rs Y.YY crores, while Earnings Per Share increased to Rs X.XX from Rs Y.YY. The carry-forward order book as of June 30, 2005 at Rs XXX.XX crores represents a YY% improvement over the previous year. The Company bagged several prestigious orders during the quarter including orders from RMZ Infinity, Bangalore; Nicholas Piramal, Baddi; Merryl Lynch, Mumbai; Wipro, Gurgaon; E-City, Lucknow; Tech Park One, Pune; IIT, Chennai; Mastek, Mumbai and Pune; HP India, Mumbai and Bangalore; Amity University, Lucknow; Airtel, Bangalore and Marina Mansion, Dubai. Ashok M Advani, Chairman & Chief Executive adds "The macro economic conditions are favourable with increased investments in infrastracture projects and substantial growth in the services sector. Our central airconditioning business is expected to be the key growth driver for Blue Star in coming year as well. Blue Star's leadership position, reputation and brand equity, backed by over six decades of experience, will help us continue to be the preferred choice for customers seeking expert cooling solutions. I am optimistic about the outlook of the Company in the years to come." It may be recalled that the Company had reported a Net Profit of Rs 39.16 crores on a Total Income of Rs 930.92 crores for the year ended March 31, 2005. The Company continued its trend of attractive dividends by declaring a dividend of 100%. Place: Mumbai Central airconditioning and commercial refrigeration major Blue Star has reported a Total Income of Rs 178.60 crores for the quarter ended June 30, 2004 representing a growth of 25% over the corresponding period last year. Net Profit for the quarter grew 36% to Rs 3.61 crores, while Earnings Per Share increased to Rs 2.01 from Rs 1.47. The carry-forward order book as of June 30, 2004 at Rs 447.20 crores represents a 36% improvement over the previous year. The Company bagged several prestigious orders during the quarter including orders from Microsoft, Hyderabad; Airport Authority of India, New Delhi; HCL Technologies, Chennai; Delhi Metro Railway Corpn, New Delhi; Kanbay Software, Pune; Garuda Mall, Bangalore; Hutch Essar Telecom, Delhi; Divyasree, Bangalore and Satyam Computers, Chennai. Ashok M Advani, Chairman & Chief Executive adds "The Company's impressive performance is attributed to our focus on profitable growth and efficient use of resources. The macro economic conditions are favourable with increased investments in infrastracture projects and substantial growth in the services sector. In fact, the central airconditioning business of the Company for the quarter recorded a 56% growth over the previous year. I am optimistic about the outlook of the Company in the years to come." It may be recalled that the Company had reported a Net Profit of Rs 32.55 crores on a Total Income of Rs 716.06 crores for the year ended March 31, 2004. The Company continued its trend of attractive dividends by declaring a dividend of 90%. Place: Mumbai BLUE Star, a leading player in the air-conditioning and refrigeration sectors, has announced a tie-up with the Taiwan-based Hanbell Precise Machinery Co Ltd for supply of hermetic screw compressors. The link will now enable Blue Star to produce its own screw chillers, which are used in central air-conditioning systems. So far, Blue Star had been importing the chillers, resulting in higher freight costs and customs duty. Now, with the supply of Hanbell compressors, which form a vital component of chillers, the Indian company will be able to create synergy and produce its own range of chillers for the domestic as well as overseas markets. As part of the tie-up, the $70-million Hanbell will supply its compressors, which range from 25 tonne to 500 tonne capacity, only to Blue Star in India. The Indian company will be using these compressors in its five models of water-cooled and five models of air-cooled water chilling machines. According to Mr Satish Jamdar, Executive Director of Blue Star Ltd., the company has been importing 200 chillers a year, but after this tie-up it might produce 400 chillers, using a combination of Hanbell compressors and its design capabilities. "We are also thinking of setting up one more production facilities, which we will finalise in the next three or four months," he told press persons here on Friday. Place: Mumbai Nawshir Mirza has joined the Board of Blue Star as an Independent Director. Blue Star is a leader in central airconditioning and commercial refrigeration, and offers a wide range of cooling solutions to a large number of corporate and commercial customers. Another significant area of business interest to Blue Star is import distribution and service of professional electronic equipment and systems. Mr. Mirza (53 years) is a graduate in commerce and a Fellow of the Institute of Chartered Accountants of India. He was with Ernst and Young and its predecessor firm, Arthur Young during the period 1967 to April 2003. His career achievements include becoming the youngest partner in the Indian firm, holding the position of National Director of Audit and Accounting Services, and Managing Partner Western India. Mr. Mirza has also held responsible positions in various professional and trade associations like Indo-American Chamber of Commerce, Institute of Internal Auditors and the Bombay Chamber of Commerce and Industry. He is actively involved in philanthropic organizations including Childline and Red Cross. Place: Mumbai Satish Jamdar, Executive Vice President of Blue Star, has been elevated to join the Board of Directors as Executive Director with effect from November 1, 2003. Blue Star is a leader in central airconditioning and commercial refrigeration, and offers a wide range of cooling solutions to a large number of corporate and commercial customers. Another significant area of business interest to Blue Star is import distribution and service of professional electronic equipment and systems. Satish (51) is a Mechanical Engineering graduate from IIT Powai and also qualified in Systems Management from NIIT and Management Studies from UK and USA. Satish has over 30 years of experience in manufacturing, materials management and IT projects having worked for companies such as Siemens, BPL-Sanyo and Alstom before joining Blue Star in 1996 as Vice President - Manufacturing. Satish, who has received training in factories in USA, UK, France, Denmark and Italy, spearheaded the establishment of Blue Star's modern state-of-the-art manufacturing facility at Dadra in 1997. Under his able and competent leadership, the productivity and product development capabilities of all three factories of Blue Star has substantially increased. He has also been responsible for several new initiatives in the areas of material management, logistics, contract manufacturing and product exports. As Executive Director, Satish will now oversee manufacturing, international sales and material management apart from an additional portfolio of airconditioning and refrigeration service business. Satish is currently the President of the BaaN Users' Club and an active member of Industry associations such as CII and BCCI. Place: Mumbai Financial PerformanceCentral Airconditioning and commercial refrigeration major, Blue Star Limited has reported a Total Income of Rs 306.51 crores for the half year ended September 30, 2003, a growth of 18% in comparison with the same period last year. Profit before extraordinary items and taxation grew by 37% to Rs 14.47 crores while Net Profit climbed to Rs 8.22 crores. Excellent Order InflowWith the favourable macro-economic conditions, new orders worth Rs 398 crores have been booked by the Company for the half year ended September 2003, which represents a growth of 40%. Ashok M Advani, Chairman & Chief Executive adds "As I have stated earlier, we are back on the growth path, and I am optimistic about the outlook for this financial year". Place: Mumbai Financial PerformanceCentral airconditioning and commercial refrigeration major Blue Star Ltd has reported a Total Income of Rs 142.48 crores for the quarter ended June 30, 2003, a year-on-year growth of 24%. Net Profit increased to Rs 2.65 crores from Rs 2.35 crores in the previous year. Ashok M Advani, Chairman & Chief Executive adds, "We are back on the growth path, and the macro economic conditions are generally favorable. The new order inflow has grown by 29% during the quarter ended June 30, 2003, and I expect the trend to continue. Blue Star will be completing 60 years in September, and I am optimistic about the outlook for our Diamond Jubilee year." It may be recalled that the Company had reported a Net Profit of Rs 31.04 crores for the year ended March 31, 2003 on a Total Income of Rs 601.06 crores. The Company declared a Special Diamond Jubilee dividend of 25% in addition to the normal dividend of 65%, making a total of 90%. Place: Mumbai Gurdeep Singh has joined the Board of Blue Star as independent non-executive director with effect from May 23, 2003. Blue Star is a leader in central airconditioning and commercial refrigeration, and offers a wide range of cooling solutions to a large number of corporate and commercial customers. Another significant area of business interest to Blue Star is import distribution and service of professional electronic equipment and systems. Gurdeep (58) is a graduate in chemical engineering from IIT, New Delhi. He joined Hindustan Lever Ltd as a Management Trainee in 1966. Since then, he has occupied a variety of senior positions in Hindustan Lever across the various business units. In 1990, he was appointed to the Hindustan Lever Management Committee as Vice President - Technical of the Detergents Business with an additional responsibility of Safety, Health and Environment. In 1993, he was transferred to Brazil as Technical Director of the Unilever Detergents business there. In 1998, he returned to Hindustan Lever Management Committee as Director-Human Resources, Corporate Affairs and Technology. He is on the Hindustan Lever Statutory Board. He is also the Co-Chairman of Nepal Lever Ltd. Blue Star will immensely benefit from his rich and varied experience. Here's another first from the Company that continuously strives to innovative. Blue Star, India's largest central airconditioning company, has launched a remote airconditioning facility management system that can control upto 64 Ducted/Packaged Airconditioners, at one's fingertips. For total ease and total control. What's more, it also cuts down power bills substantially. A master control software loaded on any PC can be hooked onto individual controllers of each Packaged AC and upto 64 Packaged ACs can be controlled with this master software. This system has some truly beneficial features that can make life easy for a Facility/Administration Manager. It can precisely set the temperature individually for all the 64 airconditioners, be programmed for an entire year eliminating the need for an operator on a day-to-day basis and can even be password protected to avoid unauthorized access. This system enables switching off of the machines during lunch hours, allows airconditioners to be switched on/off from the PC itself and can be programmed to be off on holidays and work for specific hours during every working day. It has an imported platinum sensor to set temperature precisely and therefore saves on power. This state-of-the-art system continuously monitors and displays return air temperature, status of compressor, on/off condition and fault indication. It also maintains run hours of blowers and compressors and keeps a track of the faults/errors for the last 31 occasions. This system does not require a dedicated PC and is extremely affordable. Undoubtedly, an indispensible tool that makes life simpler, yet more controlled. Airconditioning and Commercial Refrigeration major, Blue Star, has launched a new range of hi-wall split airconditioners across the country. The new range comes in two versions - one with an electronic controlled cordless remote and the other with an electronic controlled corded remote. Available in capacities ranging from 1 ton to 4 tons, these aesthetically appealing airconditioners come with a host of features like fuzzy logic, sleep mode, programmable timer, oscillating louvers, auto restart and non-volatile memory. The outdoor unit, which houses the all important heart of the airconditioner, the compressor, is capable of withstanding a 1000-hour salt spray test, making it an ideal choice for coastal areas. These airconditioners are also attractively priced, starting from Rs 26,720 onwards. Central airconditioning and Commercial Refrigeration major, Blue Star, has launched a new range of contemporary and aesthetically appealing Cassette Airconditioning Systems. These systems blend beautifully with stylish interiors. Apart from its looks, these systems are also extremely silent. Cassette airconditioning systems is the ideal choice where ducting is not practical, due to structural constraints such as low cross beams and low ceilings. The Blue Star Cassette ACs distribute cool air in four directions without ducting and come with a host of powerful features apart from remote control for ease of operation. They are also installation friendly. They incorporate a scroll compressor, which ensures that the system is energy efficient and maintenance free. The systems come with newly designed aesthetically superior low noise outdoor units. The Cassette AC Systems are available in capacities of 2, 3 and 4 tons and are attractively priced at Rs 86,700 onwards. Place: Mumbai Financial PerformanceCentral airconditioning and commercial refrigeration major Blue Star has reported a Net Profit of Rs. 31.04 crores for the year ended March 31, 2003 from a Total Income of Rs. 601.06 crores. While Total Income grew by 16%, Profit Before Tax grew by 47%, in comparison with the corresponding figures for the previous year. The provision for taxation was higher, consequent to the reduction in Income Tax exemption on the profits of the manufacturing plant at Dadra. The Company managed its capital well, and achieved 60% reduction in Interest. Earnings per share increased to Rs.16.79 from Rs.13.52. DividendThe Directors have recommended a normal dividend of Rs. 6.50 plus a special Diamond Jubilee dividend of Rs. 2.50, totaling to Rs.9.00 per equity share as against Rs. 6.50 paid in the previous year. Blue Star has paid attractive dividends for the past 33 years, ever since it went public in 1969. Shares of Blue Star are one of the high dividend yielding stocks, and have been attractive for long-term investors looking for consistent returns. 60 years of leadershipBlue Star is the market leader in central airconditioning and commercial refrigeration. It also markets a wide range of products, systems and services in the field of professional electronics. Blue Star will complete 60 years in September 2003, and the company is celebrating FY 2003-04 as its Diamond Jubilee year. During its 60 years of existence, the company has reinvented itself again and again in line with the market environment, and has emerged as the company of choice for its customers, employees and business partners. With the objective to achieve aggressive growth, the Company is implementing several strategic initiatives in the areas of product innovations, information technology, channel development and brand building. Ashok M Advani, Chairman & Chief Executive Officer adds, "Our continued focus on our core businesses, and efficient use of resources resulted in improved sales and profitability. Shareholders will be happy to note that the return on capital employed (ROCE) improved to 33% from 27%, while the return on shareholder's funds (RONW) increased to 27% from 25%. As I have stated in the past, Blue Star's value proposition to investors is to earn 'real' profits to generate positive cash flows, comfortably fund the capital required for growth, pay a generous dividend and still leave a substantial cash surplus. I am confident that Blue Star will continue to grow as the respected leader of the airconditioning and refrigeration industry in India." For additional information, please contact: B Thiagarajan, Vice President, Corporate Affairs and Communications, Blue Star Limited, Kasturi Buildings, Mohan T Advani Chowk, J Tata Road, Mumbai - 400 020, email: bthiagarajan@bluestarindia.com, Telephone: 56654000 Place: Mumbai Excellent Financial PerformanceCentral Airconditioning and commercial refrigeration major, Blue Star Limited has reported a Net Profit of Rs 11.11 crores for the 9-month period ended December 31, 2002 on a Total Income of Rs 374.49 crores. While Total Income climbed by 13%, Net Profit grew by 42% in comparison with the corresponding figures for the previous year. For the quarter ended December 31, 2002, Total Income grew by 16% to Rs 114.95 crores. Net Profit grew nearly four times to Rs 3.38 crores. Blue Star Consolidates Leadership PositionThe Company provides a wide range of cooling solutions to a large number of Corporate and commercial customers with a comprehensive range of airconditioning, as well as commercial refrigeration equipment including cold storages, deep freezers and water coolers. It has strengthened its leadership in most of the market segments. Buy-back scheme to close on February 3, 2003The equity buy-back scheme visualizing purchase of a maximum of 50,00,000 equity shares of Rs 10/- each, being 25% of the total equity share capacity, at a price not exceeding Rs 75/- per equity share from the open market through stock exchanges will close on February 3, 2003. The Company has bought back 21,29,196 equity shares of Rs 10/- each at an average price of Rs 64.55 share as on 31.12.02. Place: Mumbai Financial PerformanceCentral airconditioning and commercial refrigeration major Blue Star has reported a Net Profit of Rs 7.73 crores for the half year ended September 30, 2002 on Total Income of Rs 259.54 crores. While Total Income climbed by 12%, Net Profit grew by 9%. Profit Before Tax grew by 20% to Rs 9.11 crores. However, in view of the phased reduction in Income Tax exemption on profits of the manufacturing plant at Dadra, the Provision for Taxation was higher than the corresponding figure for the previous year. Buy-back of sharesThe Company has an ongoing equity buy-back scheme, which visualizes purchase of a maximum of 50,80,000 equity shares of Rs 10/- each, being 25% of the total paid up equity share capital, at a price not exceeding Rs 75/- per equity share from the open market through the Stock Exchanges. As on September 30, 2002, the Company has bought back 18,81,729 equity shares of Rs 10/- each at an average price of Rs 63.93 per share. The buy-back scheme will close on February 3, 2003. Place: Mumbai Central airconditioning and commercial refrigeration major Blue Star has reported a Net Profit of Rs 2.35 crores for the quarter ended June 30, 2002 from a Total Income of Rs 114.63 crores. Despite little growth in Total Income, Net Profit grew by 16%. Ashok M Advani, Chairman & Chief Executive adds, "There are some tentative signs of industrial recovery and macro-economic indicators are generally positive barring the possible failure of the monsoon this year. Business sentiment has turned more confident. Quite a few segments such as telecom, healthcare, retailing and entertainment which are major consumers of airconditioning are growing. Our commercial refrigeration business has shown good growth in the first quarter. I can say with cautious optimism that the outlook for the year is good". It may be recalled that the Company has been performing consistently well, and for the year ended March 31, 2002, Blue Star registered a Net Profit of Rs 27.45 crores and declared a record dividend of 65%. Place: Mumbai Blue Star launches new digitally smart turbo rotary window airconditioners in unique capacities of 1.25 and 1.75 ton. Blue Star, India's most preferred airconditioning company has launched a whole new range of sleek, state-of-the-art and aesthetically superior window airconditioners. These include turbo rotary airconditioners in unique innovative capacities of 1.25 ton and 1.75 ton. The 1.25 ton and 1.75 ton airconditioners are ideal for spaces where the consumer had so far no option but to go in for a 1.5 ton or 2.0 ton airconditioner. Which means that one does not have to compromise anymore and settle for an AC of higher tonnage and consequently higher power consumption. Infact, these machines slash electricity bills by over 25%. Apart from the unique capacities of 1.25 ton and 1.75 ton, Blue Star has also launched a new range of airconditioners in standard capacities of 1.0 ton, 1.5 ton and 2.0 tons. The new range is available in three variants based on the controls namely mechanical, feather touch electronic and electronic remote. Designed on a digital platform, these airconditioners have powerful features such as a Sleep Mode, Programmable Timer, Insta Cool, Power Saver Mode and Dry Mode, making it the most advanced airconditioners in the market. These airconditioners are also attractively priced at Rs 18,790/- onwards on an ex-Dadra basis. Place: Mumbai Financial PerformanceCentral airconditioning and commercial refrigeration major Blue Star has registered a Net Profit of Rs 27.45 crores for the year ended March 31, 2002 from a Total Income of Rs 517.32 crores. Despite only marginal growth in Total Income, Net Profit grew by 17% to Rs 27.45 crores. Earnings per share increased to Rs 13.52 from Rs 11.58 DividendThe Directors have recommended a record dividend of Rs 6.50 per equity share. Blue Star has been paying attractive dividends every year for the last 32 years, ever since it went public in 1969. Buy-back of sharesBlue Star made an offer to buy back a maximum of 50,80,000/- equity shares of Rs 10/- each of the Company, being 25% of the total existing paid up equity share capital, at a price not exceeding Rs 75/- per equity share from the open market through the Stock Exchanges. The scheme was effective February 15, 2002, and the Company has purchased 10,20,035 equity shares or approximately 5% at an average price of Rs 61.14 from the open market as of March 31, 2002. LeadershipThe Centre for Monitoring the Indian Economy (CMIE) has ranked Blue Star as the largest Company in India in its Report on Industry Market Size and Shares published in August 2001. The category includes all types of airconditioning equipment, namely central airconditioning plants, packaged airconditioners, and split and window airconditioners. Blue Star has been ranked overall No 1 in this category, with a market share of 23.45%. During the financial year 2001-02, the Company strengthened its leadership position in its core airconditioning and refrigeration business. The Company substantially expanded its distribution reach through major dealerisation initiatives. Professional Electronics and Industrial EquipmentFor over 45 years, Blue Star has been marketing a wide range of products, systems and services in the field of Professional Electronics. The lines of business are Medical Electronics, Data Communication, Test and Measuring Instruments, Analytical Instruments, Material Testing Machines and Industrial equipment. The Company represents world renowned manufacturers, usually leaders in their respective fields, such as Hitachi Medical and Scientific Atlanta. The Electronics Division constantly keeps pace with technical advances around the world, and its strength lies in its intellectual capital. The Division has produced a profit every single year of its existence, with minimum capital employment. During the financial year 2001-02, this Division has contributed significantly to the overall performance of the Company. Ashok M Advani, Chairman & Chief Executive Officer adds "On the whole, productive use of resources and excellent tax planning resulted in improved profitability. The shareholders will be happy to know that return on average capital employed (ROCE) improved to 27% from 20% while the return on shareholders' funds increased to 25% from 21%". Date: April 16, 2002 Airconditioning and commercial refrigeration leader, Blue Star, has launched a new range of soft ice cream machines. Imported from Frigomat, Italy, these machines are sleek, compact and occupy minimal retail space. Moreover, they are aesthetically extremely attractive to ensure that they catch the consumers' attention at the outlet, which is critical considering the fact that most of the soft ice cream purchase is impulsive. Advanced technology and electronic controls result in consistent ice cream scoop after scoop. Date: April 9, 2002 Airconditioning and commercial refrigeration leader, Blue Star, has launched a new range of commercial reach in refrigerators and freezers. Manufactured by international leaders Electrolux, Sweden, these products are ideal for kitchens of hotels, restaurants and bakeries. All these products are made up of heavy-duty stainless steel and are available in full door as well as glass door versions with options of one, two, three or four doors. The refrigerators operate in positive as well as in the negative temperature range. The products are extremely energy efficient and easy on the environment with eco friendly refrigerants and insulation. Place: Mumbai Airconditioning and commercial refrigeration major, Blue Star, has launched a new range of Eutectic Deep Freezers. These freezers have extremely high hold over times of over 30 hours (ability of the freezer to retain coldness without power) making it an ideal choice for ice cream push carts and intra and inter city ice cream transportation. The push cart operator can plug in and charge the unit in the night and during the day can safely move around without bothering about melting of ice cream. Moreover, the light weight of the freezer and lockable lids make it extremely convenient. The 265-litre Eutectic Deep Freezer is priced at Rs 27,000/-. Blue Star, who occupy the leadership position in the Deep Freezer segment, have a wide range of deep freezers (including display freezers) for various freezing applications. This new innovative cooling solution will help it further strengthen its stronghold in the market. Place: Mumbai Airconditioning and commercial refrigeration leader, Blue Star, has introduced a new range of quick chilling Visi Coolers. Designed to chill beverage bottles, cans and a host of dairy products needing refrigeration, these coolers are ideal for food stores, restaurants, fast food chains, cafeterias, hotels, bakeries and confectionery shops. The Visi Coolers are designed to quickly pull down temperature with the help of a high capacity refrigeration system. Clear product visibility, which is a critical success factor, is ensured through frost-free operation. It makes use of eco friendly inputs during the manufacturing process and is available in four capacities of 65, 140, 220 and 360 litres. These coolers are also attractively priced with the 65 litre Visi Cooler costing just Rs 9,900/- ( ex-Mumbai exclusive of sales tax and octroi) Place: Mumbai Blue Star, India's largest airconditioning and commercial refrigeration company, has launched a sleek and stylish Bottled Water Dispenser cum Refrigerator - a product that combines hygiene, style and convenience for drinking water needs. It's the all-in-one machine that dispenses water the way you want, the way you prefer. Cold water, water at room temperature and even hot water for making tea and coffee. What's more, it also has an inbuilt refrigerator for storing cold drinks, canned juices and chocolates amongst others. It's extremely compact requiring a little more than one square feet and the elegant plastic front panel and faucets make it aesthetically attractive. Blue Star, who are market leaders in the water cooling segment, have been marketing Bottled Water Dispensers for over five years now. This latest innovative product from the leaders in cooling solutions is mainly targeted at small offices, showrooms, industrial galas, shops, cyber cafes, clinics and fast food outlets amongst others. Place: Mumbai Central airconditioning and commercial refrigeration major Blue Star has announced payment of an interim dividend of Rs 5.50 per share (55%) for the financial year 2001-02. The record date has been fixed as 22.3.2002. Place: Mumbai Central airconditioning and commercial refrigeration major, Blue Star Limited has registered a Net Profit of Rs 5.07 crores for the quarter ended September 30, 2001 on a Total Income of Rs 122.84 crores. This represents 40% growth over the corresponding quarter of last year. Net profit for the first half stood at Rs 7.09 crores on a Total Income of Rs 232.17 crores. Interest cost down 30%The focus has been on enhancing resource utilization across the Company. The Company reduced the interest burden by 30% through prudent financial management. Improved Operational EfficiencyThe Company undertook several measures to cut costs and improve productivity. An Employee Voluntary Retirement Scheme was introduced. Place: Mumbai In order to enhance its leadership position, central airconditioning and commercial refrigeration major Blue Star has embarked on a corporate restructuring programme. Blue Star's performance has been impressive over the past couple of years, and it had reported a growth of 15% in Total Income and 55% in Net Profit for the year ended March 31, 2001. Market LeadershipBlue Star enjoys a market share of 32% in central airconditioning, and is the largest player in the country in the field of commercial refrigeration. It offers a wide range of products and services ranging from mega airconditioning projects to window and split airconditioners. The Company has executed several prestigious projects in India, the Middle East and Far East. In Malaysia, Blue Star's airconditioning joint venture with Arab-Malaysian group has been successful for nearly a decade. Strategies For GrowthBlue Star has identified mega airconditioning projects within the country and abroad as an opportunity area for growth. At the other end of the spectrum, the Company has aggressive plans to enhance its share in the growing market for window and split airconditioners, with a specific focus on corporate and commercial customers. Blue Star has ambitious plans to expand its commercial refrigeration business as well. Encouraged by the recent break-through orders from Sri Lanka, Yemen, Maldives and Armenia for water coolers, room airconditioners and packaged airconditioners, the Company wants to strengthen its exports operations as well. RestructuringIn order to accomplish the above objectives, Blue Star's airconditioning and refrigeration businesses have been restructured into six Strategic Business Units (SBUs) on the basis of the nature of project, values, customer segments and distribution channels. The new SBUs thus formed are as follows:
According to Suneel M Advani, President & Vice Chairman, "In its 58 years of existence, Blue Star has reinvented itself again and again to keep in tune with the changing market conditions. In the process, it has strengthened its core competencies, become more customer focused, reduced its cost structure and maintained its leadership position. Reflecting its financial stability, Blue Star has paid a dividend to shareholders every single year after its listing on the stock exchange in 1969. I remain confident about the prospects of Blue Star in the coming years." Place: Mumbai Financial performanceCentral airconditioning and commercial refrigeration major Blue Star has registered a Net Profit of Rs 23.54 crores for the year ended March 31, 2001 from a Total Income of Rs 509.81 crores. These results do not include the income from the software business which was spun off into a separate company - Blue Star Infotech Limited. In comparison with the previous year (also excluding the software business), Total Income grew by 15% while Net Profit jumped by 55%. Earnings per share stood at Rs 11.58, compared to Rs 8.58 in the previous year. DividendKeeping in mind the good financial results, the Directors have declared a record dividend of Rs. 5.50 per equity share. Blue Star, incorporated in 1949, has been paying regular dividends. The current dividend of 55%, offers an attractive yield for investors looking for high returns in safe investments. Strengthens leadership position in airconditioning and refrigeration businessesThe Company strengthened its leadership position in its core airconditioning and refrigeration business by gaining market share in most of the segments in which it operates. The software, healthcare, and hospitality industries contributed to the growth apart from the retail showroom segment. The Company expanded its distribution reach through extensive dealerisation initiatives, and focused on commercial establishments such as showrooms, jewellers and restaurants. Several innovative products and systems were introduced which help customers save power and at the same time offer efficient cooling. Order inflow for the year registered a growth of 20%. Shareholder valueTo some investors, the future growth and profitablity of Blue Star without the divested business of software services was a matter of doubt a year ago. But the Company remained optimistic about the prospects for its core airconditioning and refrigeration businesses. The solid financial performance for the period ended March 31, 2001 is tangible proof in this regard. Ashok M Advani, Chairman, adds, "As I had stated earlier, the Board of Directors is conscious of its responsibility to continuously increase shareholder value and we are committed to delivering superior financial results. The Company has improved the Return on Capital Employed to 19.6% while the Return on Net Worth has climbed to 20.7%." While the market may have belied the hopes of investors looking for capital appreciation, the sharp downturn in prices has raised the dividend yield for many companies. With the annual results fast approaching, dividend income from companies may prove to be a source of steady income for investors. Consider the case of Blue Star, for instance. The company has been paying dividend consistently for the last three years. With the dividend declared last year at Rs 5 per share and the current market price at Rs 30, the dividend yield works out to as high as 16.5 per cent. Even if the company pays Rs 3.5 as dividend this year, the dividend yield still stands at 11.5 per cent, which is tax-free. This is not all. There are many others like Kirloskar Oil, VIP Industries, GNFC, Tat Finance, Wellwin Industries and Bank of Punjab, which have a consistent dividend-paying record over the years and an attractive dividend yield of 10 to 13 per cent based on their current prices. In some cases like Pentamedia, Paper products and Avanti Feeds, there has also been a gradual increase in their dividend pay-out over the years. Of all the 4,000 plus companies listed on the BSE, there are around 775 profit-making firms, which have a consistent dividend paying track record for the last three years. While some companies have a very low dividend yield, others run the risk of not being able to repeat their past performance. In a detailed study, ET tried to identify companies which may provide attractive dividend yields, assuming they maintain their past dividend paying record. Taking a cut-off for the dividend yield at 10 per cent or more, based on the dividend paid last year, and by including only those companies with a positive net profit growth in the trailing 12-month period, compared to the previous year, the list was pruned to just 80. Since liquidity is of paramount importance, only those companies were selected which had an average daily volume of atleast 500 shares and market cap above Rs 10 crores. In many cases, the volumes have dried up in the current market scenario. The final list had around 20 companies. Ashok Leyland Finance is at the top with a dividend yield of 16.7 per cent, followed by Blue Star with 16.5 per cent and Garware Wall Ropes with 16.1 per cent. It is the tax-free nature of dividends which make share attractive, compared with the falling interest rates on other fixed income instruments. Also, with the finance minister reducing the tax on the dividend paid out by companies from 20 to 10 per cent in the current Budget, it is possible that some corporates may even increase their dividend pay-out. The only risk involved in dividend pay-out on shares is that of a capital loss. This is because there is a time lag between the dividend declaration date and the actual payment date, which could be as much as three months. Capital could thus erode in the intervening period. Also, in some cases, the volumes are quite low, due to which there remains a risk of not being able to exit. Returns Flight
TTM - Trailing 12 months, NP-Net Profits Blue Star has launched a new range of sleek, stylish and contemporary turbo rotary room airconditioners. These airconditioners, which are available in unique capacities of 1.25 and 1.75 Tons, incorporate a Mitsubishi Rotary compressor, anti bacterial filters and corrosion resistant condensers to ensure silent operation and substantial savings in electricity bills. Blue Star, who are currently leaders in the Airconditioning segment, have nearly six decades of experience in providing expert cooling solutions not only in India but also overseas. Its commitment to add value to customers in terms of design, installation and after sales service has resulted in it being associated with the most prestigious projects and companies. This latest offering from the stable of the Airconditioning expert includes advanced user friendly features such as Sleep Mode, Programmable Timer and Fuzzy Logic apart from Remote Control. The 1.25 Ton capacity is designed for cabins and bedrooms while the 1.75 Ton is positioned for bigger halls. These unique capacities fill the gap in the room airconditioner segment where customers till now had the option of only 1, 1.5 or 2 Ton capacities. Airconditioning and Commercial Refrigeration major Blue Star has bagged a prestigious order from Agricultural and Processed Food Products Export Development Authority (APEDA) for setting up India's largest state-of-the-art Perishable Cargo Handling Centre at the International Airport in Mumbai. This facility, which would cover a total area of around 27,000 square feet would largely help exporters of perishable horticulture and other agro products. The Mumbai Airport currently handles around 40,000 tonnes of perishable agro produce per annum and this figure is expected to touch 70,000 tonnes per annum in the next five years. APEDA's Cold Chain initiativesAPEDA has initiated several quality and post harvest management programs to improve the infrastructure of cold chain facilities in the country. Cold chains would ensure not only improvement in the quality of produce but also an increase in price realisation. APEDA has identified certain critical locations for supporting exports and has set up cold storages and cargo handling facilities at the international airports in New Delhi, Chennai, Hyderabad, Bangalore, Trivandrum and Pune. The exporters by establishing units at their facilities and by using refrigerated transport can thus form a cold chain and enhance shelf life. Blue Star's fourth Perishable Cargo Centre of APEDA in IndiaBlue Star is a well established player in the Airconditioning and Commercial Refrigeration market and has established leadership in the manufacture and installation of a wide range of commercial refrigeration equipment such as cold storage, deep freezers and water coolers. In the cold storage segment, Blue Star is the largest corporate player and has acquired a high level of competence in terms of design, manufacture, installation and after-sales service. It has supplied and installed cold storages for a variety of applications in horticulture, sericulture, floriculture, poultry, dairy, food and pharmaceutical industries. Blue Star has also set up the perishable cargo facilities of APEDA in Chennai, Hyderabad and Bangalore. Blue Star was selected for the Mumbai centre after a global bid tender procedure. Ultra modern facilities to be offered at MumbaiMumbai centre which is being set up at a cost of Rs 15 crores, will be the country's largest and also the most sophisticated one, with ultra modern amenities. These include fully automated and computerized document processing, weighing, x-rays with storage and retrieval at specific temperatures for different products. Also, exporters will be able to ascertain the status of their products on the internet. The entire facility would be refrigerated between 10-12o C and state-of-the-art material handling equipment will be used for gentle and efficient handling of perishable cargo including vegetables, fruits, flowers, meat and poultry products. The entire centre , which is expected to be operational by March 2002, will be set up by Blue Star on a turnkey basis. With APEDA having plans of setting up similar facilities at Amritsar, Calcutta and Ahmedabad airports, the future of exports of perishable goods looks bright. Place: Mumbai Blue Star, the leader in airconditioning and commercial refrigeration, has reported a Net Profit of Rs.8.04 crores from Total Income of Rs.330.95 crores for the 9-month period ended 31.12.2000. Operating Income up by 14% and Net Profit growth of 174% These results do not include income from software services, which business has been spun off into a separate company, Blue Star Infotech Limited. In comparison with the previous year, excluding the software business, Operating Income is up by 14%, while Net Profit has grown by 174%. The impressive performance of the Company is the result of its leadership in its core businesses, namely, airconditioning and commercial refrigeration. 32% growth in new order inflow New order inflow for the core airconditioning and commercial refrigeration businesses for the 9-month period jumped by 32% in comparison with the previous year. The software, healthcare and pharmaceutical industries, where the Company enjoys preference by customers, contributed to this growth. Gains market shares in most of the segments The Company serves a large number of corporate and commercial customers with a comprehensive range of airconditioning equipment from large central plants down to room airconditioners, as well as commercial refrigeration equipment including cold storages, deep freezers and water coolers. It has strengthened its leadership position by gaining market shares significantly in most market segments. Blue Star consolidates leadership in airconditoning of software development centres Specifically, in the field of airconditioning of software development centres, the Company is the acknowledged leader, with a market share in excess of 55%. Major customer orders booked recently include CISCO Systems, HCL Technologies, Infosys, Mars Software, Satyam Computers, SSI, and Wipro Technologies. Date: 06.12.2000 Central airconditioning and commercial refrigeration major, Blue Star, has brought to the Indian market, a range of eco friendly and energy-efficient airconditioning chillers in technical collaboration with York International, USA. In line with the Montreal Protocol, CFC refrigerants must be phased out by January 1, 2003 by the manufacturers of airconditioning and refrigeration equipment in India. In fact, Blue Star accelerated the phase-out by discontinuing the use of CFC refrigerant, type R-11, last year, almost four years ahead of the deadline. The Company has developed necessary capabilities for retrofitting old CFC based machines of its customers with environmentally acceptable alternatives. York International is a well known global leader in airconditioning. Blue Star is India's largest central airconditioning company with market share in excess of 35%. Blue Star and York International, USA have been strategic partners for over two decades and have been in the forefront in bringing to the Indian market, several state-of-the-art products and technologies such as variable speed drives and screw chillers, specifically addressing energy efficiency and power savings. Mr. Peter Spellar, President, Engineered Systems Group, York International is currently in the country in order to announce the introduction of several new products to the Indian market. He will be addressing a series of technical seminars focusing on future trends of eco-friendly refrigerants and the solutions that York and Blue Star can jointly offer on the very important issue of environment protection relating to ozone depletion and global warming. Place: Mumbai Juniper Networks, Inc., a leading provider of the next generation IP infrastructure systems, has partnered with Blue Star Limited, to distribute their high speed Internet backbone routers in India. Mr. Ashok Krishnamurthi, Vice President, Hardware Engineering, Juniper Networks, is in the country to announce the |
