Blue Star Sets Record Date For Rs 12/Share Dividend, Gains 81% From 1 Year Low

Blue Star is a mid-cap company that deals in the Consumer Discretionary sector. Blue Star is among the leading manufacturers of air conditioners, air purifiers & water coolers. The Board of Directors have fixed record date for final dividend for FY23.

The Board has recommended a final dividend of Rs 12/- per equity share of Rs 2/- each, for the financial year ended March 31, 2023.
"Pursuant to Regulation 42 of the Listing Regulations, the Company has fixed Friday, July 21, 2023 as the 'Record Date' for determining entitlement of Members to final dividend for the financial year ended March 31, 2023. The final dividend, if approved by the Members at the AGM, will be paid subject to deduction of tax at source," said Blue Star in a stock exchange filing.

The company recorded a net profit of Rs 225 crore in the quarter ending March 31, 2023 compared to Rs 76 crore in the year-ago period, registering a growth of 196% YoY. In Q4FY23, the company's revenue from operations climbed by 16.4% to Rs 2,624 crore from Rs 2,254 crore in the same quarter the year prior. The firm recorded revenue from operations of Rs 7977.32 crores for the fiscal year that ended on March 31, 2023, up from Rs 6064.08 crores in the prior fiscal year (FY22), or a rise of 31.6%. PAT for the year went up from Rs 168.00 crores in FY22 to Rs 400.69 crores.

On Wednesday, the shares of Blue Star opened on the BSE at Rs 776.05 apiece. At the current market price of Rs 777.80, the stock was seen trading at a downside gap of -0.15% from its previous close while writing this copy. The stock made a 52-week-high of Rs 819.65 on (23/06/2023) and a 52-week-low of Rs 430.00 on (04/07/2022), indicating that at the current market price, the stock is trading 80.88% above the 1-year low and 5.10% below the 1 year high. During Q1FY24, the company recorded promoter shareholding of 38.91%, FIIs stake of 10.47%, DIIs stake of 24.82%, and public stake of 25.81%.