Blue Star , a prominent player in the air conditioning and commercial refrigeration industry, recently witnessed significant market activity as a substantial block trade took place on the National Stock Exchange (NSE).

Block Trade Details

The block trade, which occurred on the NSE, involved approximately 291,197 shares of Blue Star. The transaction was executed at a price of Rs. 1,983.40 per share, resulting in a total deal value of Rs. 57.76 crores.

Market Impact

This large-scale transaction has drawn attention to Blue Star's stock, potentially indicating investor interest or a shift in shareholding patterns. Block trades of this magnitude are often closely watched by market participants as they can sometimes signal institutional investor activity or strategic moves by large shareholders.

About Blue Star

Blue Star is a well-known Indian multinational company specializing in air conditioning, commercial refrigeration, and MEP (Mechanical, Electrical, and Plumbing) projects. The company has a strong presence in both the B2B and B2C segments of the market.

While the specific reasons behind this block trade remain undisclosed, such transactions can sometimes reflect changing market sentiments or strategic decisions by major stakeholders. Investors and market analysts will likely keep a close eye on Blue Star's stock performance and any subsequent announcements from the company in the coming days.

It's important to note that block trades, while significant, do not necessarily indicate a change in the company's fundamentals or future performance. Shareholders and potential investors should always consider a wide range of factors, including financial performance, industry trends, and overall market conditions, when making investment decisions.

Blue Star , a leading air conditioning and commercial refrigeration company, has reported strong financial results for the third quarter ended December 31, 2022, with significant growth in both revenue and profit.

Financial Highlights

• Consolidated revenue increased by 18.72% to Rs 1,788.20 crore
• Net profit rose by 22.79% to Rs 58.41 crore
• Order book reached a record Rs 4,861.99 crore, up 47.27% year-on-year

Quarterly Performance

Blue Star's consolidated revenue for Q3 FY2023 stood at Rs 1,788.20 crore, marking a substantial increase of 18.72% compared to Rs 1,506.22 crore in the same quarter of the previous year. The company's net profit saw an impressive growth of 22.79%, reaching Rs 58.41 crore, up from Rs 47.57 crore in Q3 FY2022.

Segment-wise Performance

All three business segments of Blue Star showed growth during the quarter:

Nine-Month Performance

For the nine months ended December 31, 2022, Blue Star reported:

• Revenue growth of 40.46% to Rs 5,334.76 crore
• Net profit of Rs 175.40 crore, surpassing the full-year profit of Rs 168.00 crore for FY22

Record Order Book

The company's carried forward order book reached a record high of Rs 4,861.99 crore as of December 31, 2022, representing a significant growth of 47.27% compared to Rs 3,301.33 crore on December 31, 2021.

Change in Depreciation Method

Blue Star implemented a change in its depreciation method from Written Down Value to Straight Line Method, effective October 1, 2022. This change resulted in lower depreciation charges of Rs 10.80 crore for the quarter.

Conclusion

Blue Star's strong performance across all business segments, coupled with its record order book, indicates robust growth and market demand for its products and services. The company's ability to surpass its previous year's full-year profit in just nine months of the current fiscal year demonstrates its strong financial position and operational efficiency.