The company is capable of producing half a million ACs in India per annum right now. Blue Star has an operational manufacturing facility located in Himachal Pradesh
Blue Star announced that it is going to build a new manufacturing plant in Sri City, Andhra Pradesh. The plant, scheduled to be constructed 2021 onward, will be completed by 2022. The company is investing a total of Rs 180-crore (Rs 1800 Million) in the plant.
The Company had reported revenue from operations of Rs 1098.97 crores for the quarter ended December 31, 2018 on a consolidated basis, compared to Rs 932.04 crores during the same period in the previous year, representing a growth of 18 per cent. The Operating Profit (PBIDTA excluding Other Income and Finance Income) for the quarter was Rs 42.34 crores compared to Rs 42.43 crores in Q3 FY18.
Production capability of up to one million ACs
Blue Star sales and marketing president CP Mukundan Menon said that the construction of the new plant will begin on a 20-acre plot in 2021. Once developed, the plant will help Blue Star take the production level to one million AC units per annum.
It is to be noted here that the company is capable of producing half a million ACs in India per annum right now. Blue Star has a operational manufacturing facility located in Himachal Pradesh.
For the nine months that ended December 31, 2018, the company reported Revenue from Operations of Rs 3639.00 crores compared to Rs 3301.80 crores over the same period in the previous year, a growth of 10 per cent. Operating Profit (PBIDTA excluding Other Income and Finance Income) increased by 17 per cent to Rs 237.07 crores from Rs 201.96 crores during the same period last year.
Blue Star’s net profit remained almost flat at Rs 110.19 crores compared to Rs 112.25 crores for the same period in the previous year. The company cited expenses of Rs 9.89 crores on its Platinum Jubilee celebrations as the reason behind flat growth rates. The company has recently announced plans to invest Rs 55 crore on branding in 2019.
B Thiagarajan, joint managing director, Blue Star Limited, had said, “We continue to make significant investments in product development, after-sales service as well as brand building and are confident of enhancing our market share to 13.5 per cent in this financial year.”