BLUESTARCO

March 6 (Reuters) - Blue Star Ltd BLUS.NS:

• EXPANDS RANGE OF COMMERCIAL REFRIGERATION SOLUTIONS

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** Shares of Blue Star BLUS.NS rise 2.6% to 1,927.2 rupees

** The air conditioners and air purifiers maker said on Tuesday it is commissioning a new assembly line for manufacturing of room air conditioners at unit

** Co plans to invest around 2 billion rupees ($22.9 million) on the same; expects capacity addition of 20,000 units per month

** 17 analysts covering the stock on avg have a "Buy" rating; median PT is 1,930.5 rupees - LSEG data

** Stock up ~4% so far this year

($1 = 87.1900 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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Jan 29 (Reuters) - Blue Star Ltd BLUS.NS:

• Q3 CONSOL NET PROFIT 1.33 BILLION RUPEES; IBES PROFIT EST. 1.23 BILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 28.07 BILLION RUPEES; IBES EST. 26.56 BILLION RUPEES

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Jan 7 (Reuters) - Blue Star Ltd BLUS.NS:

• TWO VEHICLES CARRYING RAW MATERIALS DETAINED BY OFFICER OF STATE TAX

• GETS TAX ORDER OF PENALTY OF 3.6 MILLION RUPEES

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Nov 13 (Reuters) - Blue Star Ltd BLUS.NS:

• BLUE STAR LTD - TAX LIABILITY REDUCED FROM 912.40 MILLION RUPEES TO 4.50 MILLION RUPEES

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** Shares of Blue Star BLUS.NS fall 7% to 1,749.6 rupees, eyes worst one-day pct fall since July 10

** Co posted a 36% rise in Q2 consol net profit to 961.9 mln rupees ($11.4 mln), but fell short of analysts' estimate of 965.6 mln rupees, as per data compiled by LSEG

** Rev from water coolers, deep freezers rose just 5% as quality control regulations hurt sales, alongside delays in ramping up production of new range of deep freezers

** More than 680,000 shares change hands in early trade, 1.6x the 30-day avg

** Seventeen analysts covering the stock on avg have a "buy" rating; median PT is 1,707.5 rupees - LSEG data

** Day's losses trim stock's YTD gains to ~85%

($1 = 84.2975 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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Nov 6 (Reuters) - Blue Star BLUS.NS on Wednesday reported second-quarter profit that missed estimates as it struggled to increase sales of commercial refrigeration appliances such as water coolers and deep freezers.

The company's consolidated net profit rose 36% to 961.9 million rupees ($11.4 million) in the three months ended Sept. 30, but missed analysts' expectations of 965.6 million rupees, according to estimates compiled by LSEG.

Revenue from its segment which makes water coolers and deep freezers rose just 5% as new quality control regulations crimped sales. The segment contributes about a third to the total revenue.

Delays in ramping up production of a new range of deep freezers also slowed revenue growth, the company said.

"The commercial refrigeration business faced setbacks in the first half of the year due to regulatory changes and we expect this impact to be temporary," said Chairman and MD Vir Advani.

Still, Blue Star's overall revenue jumped to 22.76 billion rupees, beating expectations of 22.2 billion rupees, helped by a 32% growth in the segment that makes commercial air conditioning systems.

(Reporting by Aleef Jahan and Chris Thomas; Editing by Eileen Soreng)

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Oct 2 (Reuters) - Blue Star Ltd BLUS.NS:

• WJT'S ARBITRATION CLAIM REVISED TO OMR 21.2 MILLION FROM OMR 10.3 MILLION

• CLAIMS BY WJT WILL NOT HAVE MATERIAL FINANCIAL IMPACT ON CO

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** Shares of Zaggle Prepaid Ocean Services ZAGG.NS rise 3.5% to 360 rupees, set to snap a six-session losing streak

** The fintech co partners with Blue Star BLUS.NS to provide expense management platform and employee benefits to the appliance maker's staff

** Cos did not provide further details about the deal

** BlUS last up ~0.6%

** ZAGG up ~61% YTD

(Reporting by Yagnoseni Das in Bengaluru)

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Aug 6 (Reuters) - Blue Star Ltd BLUS.NS:

• BLUE STAR Q1 CONSOL NET PROFIT 1.69 BILLION RUPEES; IBES PROFIT EST. 1.41 BILLION RUPEES

• BLUE STAR Q1 CONSOL REVENUE FROM OPERATIONS 28.65 BILLION RUPEES; IBES EST. 29.38 BILLION RUPEES

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BENGALURU, July 18 (Reuters) - Home appliances maker Havells India HVEL.NS reported a smaller-than-expected first-quarter profit on Thursday, as higher expenses offset improved demand for its air conditioners and fans.

Profit rose 43.1% from a year earlier to 4.11 billion rupees ($49.15 million) for the three months ended June 30, missing analysts' expectations of 4.31 billion rupees, as per LSEG data.

The water heater maker's revenue from operations rose 20.2% to 57.98 billion rupees, while total expenses rose 18.1% to 53.22 billion rupees.

For further earnings highlights, click nFWN3JA0SB

KEY CONTEXT

India's summer lasts from March to May, yet many Indian cities saw warmer nights during June. Hot weather increases consumer spending on electrical appliances.

Analysts said that the country's consumer durables sector experienced healthy demand during the quarter due to severe summer and despite price increases.

Prices of raw material such as copper and aluminium rose, they added.

Havells India, biggest among its peers by market capitalisation, is the first to report first-quarter results.

PEER COMPARISON

* The mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

APRIL-JUNE STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 83.6170 Indian rupees

(Reporting by Meenakshi Maidas in Bengaluru; Editing by Mrigank Dhaniwala)

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July 12 (Reuters) - Blue Star Ltd BLUS.NS:

• GOT TAX DEMAND TOTALLING 12.6 MILLION RUPEES

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By Praveen Paramasivam

BENGALURU, June 28 (Reuters) - Demand for beer in India is at a multi-year high and air conditioner sales are skyrocketing as the intense, unprecedented heat scorching parts of the country becomes a boon for some consumer businesses.

Temperatures in the Indian capital Delhi and the western state of Rajasthan soared to almost 50 degrees Celsius in recent weeks, with scientists saying the hot summer has become even more intense due to human-driven climate change. While rains lashed Delhi on Friday, many northern areas such as Punjab recorded temperatures above 40 C on Thursday.

Beer sales volume are expected to jump 10% this summer and demand is at its highest since the onset of the COVID-19 pandemic, said Vinod Giri of Brewers' Association of India which represents leading beer makers Carlsberg, Anheuser-Busch InBev ABI.BR and United Breweries UBBW.NS.

Beer in this scorching heat, Giri said, makes Indians "feel better without getting too high on alcohol."

The heat has also driven power demand to a record peak as more people seek ways to cool down.

B. Thiagarajan, managing director at ACs-to-air purifier maker Blue Star BLUS.NS, said he has not witnessed such strong sales for air conditioners in the more than 30 years he has worked in the industry.

It's been a "mad rush ... anything called air conditioner would have got sold," he said.

The number of affluent people in India is rising rapidly, and Thiagarajan said overall air conditioner sales will grow 50% in the April-June summer months, outstripping the industry's expected demand increase of 25% to 30%.

Other businesses are also enjoying a strong summer.

Quick delivery service Swiggy Instamart said it is seeing a sharp rise in orders for ice cream and cold beverages.

Walmart-owned WMT.N Indian e-commerce website Flipkart said demand for top-end sunscreen products jumped 40% between February-May 2024 versus the previous year, with products such as sunscreen sticks proving particularly popular.

"Heatwaves made me use sunscreens very frequently, like, 3 to 4 times a day," said S. Dinesh, 27, whose job demands him to stay out in the sun during the day.

But even as the heat pushes up demand for some online products, it is causing logistical challenges as more delivery workers fall ill due to the high temperatures, said Ajay Rao, CEO of Emiza, a logistics company which counts Flipkart and Mamaearth HONA.NS among its customers.

"People are not able to actually cope with the outside temperatures," he said.

(Reporting by Praveen Paramasivam; Editing by Aditya Kalra and Miral Fahmy)

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May 2 (Reuters) - Blue Star Ltd BLUS.NS:

• DIVIDEND 7 RUPEES PER SHARE

• MARCH-QUARTER CONSOL NET PROFIT 1.61 BILLION RUPEES VERSUS PROFIT 2.25 BILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 33.28 BILLION RUPEES VERSUS 26.24 BILLION RUPEES

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By Praveen Paramasivam and Ashna Teresa Britto

CHENNAI/BENGALURU, April 15 (Reuters) - Indian consumer goods companies such as makers of cooling systems, beer and ice cream are attempting to capitalise on a hotter-than-usual summer season by cranking up output, launching new products and ramping up spending on marketing.

The world's most populous nation expects 10 to 20 heatwave days, which it describes as temperatures hitting at least 40 degree Celsius in the plains, from April through June this year, versus the normal four to eight days. Already temperatures have crossed 40 degrees in a few cities in the western Maharashtra and Gujarat states.

The searing heat is why appliances maker Blue Star BLUS.NS has launched dozens of new home airconditioner products as it targets a 25% jump in revenue from that business this summer versus just a 5% increase last year, according to its Managing Director B. Thiagarajan.

And U.S.-based ice cream brand Baskin Robbins has launched 20 new products in India ahead of the summer season.

"An unusually hot year will significantly impact the sector and uplift consumer discretionary companies' demand for selling airconditioners, fans, fridges, etc," said Akshay Mokashe, senior research analyst at Axis Securities, adding that they will report robust growth numbers for the first quarter of the current fiscal year.

Cooling systems providers are one of the main beneficiaries of summer, with the season contributing up to 60% of their annual revenue.

While the industry has previously estimated that less than 10% of Indian households have airconditioners, the hotter summer season and new product launches from companies such as appliances maker Voltas VOLT.NS and Johnson Controls-Hitachi Air Conditioning India JCHA.NS are expected to lift that number.

"People generally plan for airconditioner purchases a couple of months in advance. But harsher summer expectations have triggered fence-sitters also into buying," said Deepak Jasani, head of retail research at HDFC Securities.

Roughly nine in 10 customers this year are first-time buyers as they long for airconditioners after getting used to temperature-controlled spaces in offices, banks and theaters, Blue Star's Thiagarajan told Reuters.

G. Hariharan is one of them.

The software engineer from Thiruvananthapuram city in the southern state of Kerala bought his family of four their first airconditioner last month.

"We have always muscled through the hot January-May months, but this year, it is too hot, and it has become too difficult to sleep," Hariharan said. "Even two fans are not enough."

Ceiling fans are India's go-to during summer, while airconditioners are still considered a luxury for its majority.

Companies are stretching their production and distribution capabilities to meet the increase in demand.

Graviss Foods, which runs Baskin Robbins stores in India, is ensuring its "factory is running at full throttle" after opening more distribution centres to reach retailers and distributors faster, said CEO Mohit Khattar.

Advertising budgets are also up this summer, partly because slots on the popular Indian Premier League cricket games have become more expensive as they coincide with India's massive general elections.

Blue Star is nearly tripling its summer advertising budget to 400 million rupees, while Baskin Robbins' marketing budget is being raised by up to a quarter as it aims to reach twice the number of people through TV and online advertising.

SUMMER BUMP

It is not just manufacturers that are cashing in on the summer, but delivery and other services companies too.

Grocery delivery app Zepto shows a banner on its home page to highlight "hydration heroes" with images of tender coconut, watermelon, and muskmelon, while rivals Swiggy and Zomato's ZOMT.NS Blinkit are doubling down on fruits, beverages, and ice creams.

Swiggy has seen a 28% surge in demand for cold drinks and juices, along with a 43% increase in orders for ice cream since the summer began, according to its spokesperson, while orders for instant drink mixes and ice cubes have shot up.

Demand for beer is likely to go up as well.

"With the arrival of summer, beer consumption naturally increases, necessitating careful planning in production and distribution ... as brewery capacities are stretched to their limits," Carlsberg India Managing Director Nilesh Patel said.

The harsher weather is expected to increase the prices of vegetables, which could eat into discretionary budgets, and curtail outdoor spending. Some analysts, nevertheless, expected consumers to find ways to spend on the small joys.

"Drinking beverages or eating ice cream gives some sort of a satisfaction, although temporary, to people," HDFC Securities' Jasani said.

(Reporting by Praveen Paramasivam in Chennai and Ashna Teresa Britto in Bengaluru; Editing by Dhanya Skariachan and Muralikumar Anantharaman)

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April 3 (Reuters) - Blue Star Ltd BLUS.NS:

• BLUE STAR LTD - W.J. TOWELL & CO LLC FILED ARBITRATION PROCEEDINGS AGAINST CO WITH INTERNATIONAL CHAMBER OF COMMERCE

• BLUE STAR LTD- WJT HAS CLAIMED 2.24 BILLION RUPEES PLUS INTEREST TOWARDS ALLEGED CLAIMS AND OUTSTANDING AMOUNTS

• BLUE STAR LTD - CO ENGAGED ITS INTERNATIONAL LEGAL COUNSEL TO FILE ITS RESPONSE CONTESTING CLAIM RAISED BY W.J. TOWELL

• BLUE STAR LTD- CO HAS ENGAGED INTERNATIONAL LEGAL COUNSEL TO FILE RESPONSE CONTESTING CLAIM

• BLUE STAR LTD - ARBITRATION PROCEEDINGS WILL NOT HAVE ANY MATERIAL FINANCIAL IMPACT ON CO

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March 15 (Reuters) - Blue Star Ltd BLUS.NS:

• GETS TAX ORDER FOR DEMAND AT 25 MILLION RUPEES

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By Praveen Paramasivam

CHENNAI, March 4 (Reuters) - India's Blue Star BLUS.NS is targeting a 25% rise in air conditioner sales as hotter-than-usual summer is expected to drive strong demand during the season.

"The indications are ... the summer season will be good (for the AC segment)," Blue Star Managing Director B. Thiagarajan told Reuters on Monday. A brighter economy is also expected to boost AC sales, he added.

The optimism comes after Blue Star's AC sales came in below projections last summer due to a cooler-than-expected season, prompting it to call the period "a disappointing one."

Blue Star is launching new models and ramping up ad spend to better compete with rivals such as Tata Group-owned Voltas VOLT.NS and Japan's Daikin Industries 6367.T in a crowded AC market.

The company is doubling its spending on ads to 400 million rupees ($4.8 million), Thiagarajan said, as it jostles for advertising slots on popular events such as the Indian Premier League cricket tournament in the run-up to the country's general elections this year.

Although inflation is taking a toll on the consumer goods sector, especially in rural areas, AC makers are likely to face a smaller impact, since their customer base is mostly affluent.

Thiagarajan said two-thirds of sales come from small cities and towns, while first-time buyers purchase nearly 90% of all its ACs.

Blue Star also aims to close the year ending March with revenue of roughly 100 billion rupees, Thiagarajan said. It had reported 79.77 billion rupees last fiscal.

($1 = 82.8880 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai; Editing by Eileen Soreng)

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BENGALURU, Feb 5 (Reuters) - India's Bajaj Electricals BJEL.NS reported its third consecutive drop in quarterly profit on Monday, as high inflation dampened festive spending and rural demand remained subdued.

Consolidated net profit slumped nearly 40% to 373.6 million rupees ($4.5 million) for the three months ended Dec. 31, following declines of 56% and 14% in the previous two quarters.

The October-December period typically marks the festival season in India, during which consumers traditionally splurge on non-discretionary products. However, demand was subdued in the latest quarter due to elevated inflation levels, which restrained expenditure on non-essential items, in both rural and urban areas, analysts said.

While the likes of Voltas VOLT.NS and Blue Star BLUS.NS benefited from demand for air coolers and fans due to warmer-than-usual temperature in the quarter, companies such as Havells HVEL.NS were hit by slowing sales of other home appliances.

"Consumer products continue to show signs of rural stress and weak consumer demand," Bajaj Electricals said in a statement.

Bajaj Electricals' total revenue fell 6.2% to 12.28 billion rupees, marking the third consecutive quarter of decline.

Sales of consumer products, which accounted for nearly 80% of revenue, dropped 8%, while sales of lighting products barely increased about 1%.

The Mumbai-based company's input costs increased 4.8% to 1.24 billion rupees.

($1 = 83.0386 Indian rupees)

(Reporting by Manvi Pant in Bengaluru; Editing by Dhanya Ann Thoppil)

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Jan 30 (Reuters) - Blue Star Ltd BLUS.NS:

• DEC-QUARTER CONSOL NET PROFIT 1 BILLION RUPEES VERSUS 584.1 MILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 22.41 BILLION RUPEES VERSUS 17.94 BILLION RUPEES

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Jan 2 (Reuters) - Blue Star Ltd BLUS.NS:

• BLUE STAR LTD - GETS MULTIPLE TAX DEMAND NOTICES FOR TOTAL 4.95 MILLION RUPEES

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** Nirmal Bang says Indian air-conditioner maker Blue Star BLUS.NS is a better bet than Voltas VOLT.NS in short- to medium term

** Brokerage says it likes BLUS chasing profitability, FCF and maintaining leadership in commercial air conditioner space

** Meanwhile, it says, Voltas's losses in electro mechanical product and services continues, with "not so encouraging feedback" for Volt Beko products

** This, it adds, is a risk in near term for Voltas and could continue to suppress overall margins

** Brokerage keeps "buy" on BLUS and raises TP to 1,100 rupees; stays "accumulate" on Volats with TP of 985 rupees

** BLUS flat at 947.20 rupees, VOLT also flat at 977.95 rupees

** BLUS shares rose 58% in 2023 vs 22.3% gains in VOLT

(Reporting by Sethuraman NR in Bengaluru)

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Nov 8 (Reuters) - Blue Star Ltd BLUS.NS:

• APPROVED INVESTMENT IN EQUITY SHARES OF UNIT

• APPROVED INVESTMENT WORTH 944 MILLION RUPEES IN EQUITY SHARES OF UNIT

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** Shares of Blue Star BLUS.NS rise as much as 7.2% to 935.1 rupees, their largest intraday pct climb since Sept. 20

** Co's Q2 consolidated net profit rose 66% YoY, revenue rose 19.5%

** Co witnessed renewed demand for its room air conditioners after the summer season which was impacted due to unseasonal rains - BLUS

** Electro-mechanical projects and commercial air conditioning systems' segment revenue rose 12.1% YoY

** Stock on track to rise for third straight session, if trend holds

** Mean rating of 18 analysts is "buy"; median PT is 801.5 rupees - LSEG data

** Stock last up 4.7%, taking YTD gain to 52.2%

(Reporting by Varun Vyas in Bengaluru)

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Oct 30 (Reuters) - Blue Star Ltd BLUS.NS:

• Q2 CONSOL NET PROFIT 706.7 MILLION RUPEES

• Q2 CONSOL REVENUE FROM OPERATIONS 18.90 BILLION RUPEES

• YEAR AGO Q2 CONSOL NET PROFIT 425.5 MILLION RUPEES, REVENUE 15.82 BILLION RUPEES

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Oct 20 (Reuters) - Blue Star Ltd BLUS.NS:

• RECEIVED NOTICE IMPOSING PENALTY OF 34 MILLION RUPEES

• NOTICE ALLEGES DEFAULT IN PAYMENT OF STAMP DUTY

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Oct 5 (Reuters) - Blue Star Ltd BLUS.NS:

• TO ACQUIRE SHARES WORTH 1.51 BILLION RUPEES BY SUBSCRIBING TO RIGHTS ISSUE OF UNIT BLUE STAR CLIMATECH

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Sept 26 (Reuters) - Blue Star Ltd BLUS.NS:

• CO ACQUIRED SHARES OF UPTO 490 MILLION RUPEES VIA SUBSCRIBING TO RIGHTS ISSUE OF BLUE STAR CLIMATECH

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** Shares of Blue Star Ltd BLUS.NS advance as much as 15.3% to 922.6 rupees, hitting a record high

** The Indian AC maker said on Monday it launched a qualified institutional placement of up to 10 bln rupees ($120.15 million) at floor price of 784.55 per share

** Shares up for third straight session; will see best day in three years, if current trend holds

** Nearly 5 mln shares change hands as of 1142 IST, 32.3x 30-day avg of 154,669 shares

** BLUS shares up 49% YTD

($1 = 83.2320 Indian rupees)

(Reporting by Archishma Iyer in Bengaluru)

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Aug 11 (Reuters) - Tata Group company Voltas VOLT.NS reported nearly a 19% rise in first-quarter profit on Friday, boosted by the performance of its arm that makes air conditioners and air coolers.

Consolidated net profit rose to 1.29 billion Indian rupees ($15.58 million) for the quarter ending June 30 from 1.09 billion rupees a year earlier.

Income from operations rose nearly 22% to 33.35 billion rupees.

Its mainstay unitary cooling products segment, which makes goods such as air conditioners, coolers and purifiers, reported a 16% rise in revenue and a 15% increase in volume growth.

Earlier, rivals Blue Star BLUS.NS and Havells India HVEL.NS also posted a rise in their quarterly earnings.

Voltas shares closed down 0.98% at 828.55 rupees ahead of the results.

($1 = 82.8070 Indian rupees)

(Reporting by Ashna Teresa Britto and Ashish Chandra; Editing by Varun H K and Sohini Goswami)

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