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Blue Star Q1: Heat waves fuel unprecedented demand surge
Revenues jump and operating margins expand on the back of efficient cost management and a better product mix
Unusual hotter summer led to strong performance by Bluestar
- Quarterly performance largely backed by improved realisations
- Medium-term triggers China plus and protectionist measures for tyre industry
- Valuations not inexpensive; but improved medium-term outlook
Highlights
- A hotter-than-usual summer drove RAC sales volumes
- Strong traction in EMP and Commercial AC business
- RAC market share sustained at 13.75 percent
- Robust demand from educational and healthcare institutions
- EMP order book reached Rs 4,557 crore
Blue Star (CMP: Rs 1,623; Market cap: Rs 33,454 crore; Rating: Equal weight), the air conditioning and commercial refrigeration major, began the new financial year on a strong note, driven by robust demand for its core products, successful roll-out of new products in key segments,
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