Hold Blue Star, target price Rs 1070: Emkay Global

Emkay Global has hold call on Blue Star with a target price of Rs 1070. The current market price of Blue Star Ltd. is Rs 962.05. Time period given by analyst is one year when Blue Star Ltd. price can reach defined target.

Blue Star Ltd., incorporated in the year 1949, is a Mid Cap company (having a market cap of Rs 9261.06 Crore) operating in Consumer Durables sector.

Blue Star Ltd. key Products/Revenue Segments include Air Conditioners, Income from Eng.Construction Contracts, Sale of services and Other Operating Revenue for the year ending 31-Mar-2021.

Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 2253.85 Crore, up 48.32 % from last quarter Total Income of Rs 1519.60 Crore and up 36.49 % from last year same quarter Total Income of Rs 1651.35 Crore. Company reported net profit after tax of Rs 75.60 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 38.78 per cent stake in the company as of 31-Mar-2022, while FIIs owned 11.83 per cent, DIIs 22.43 per cent.