Blue Star - Product Portfolio Primed For Market Share Gains: Dolat Capital

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Dolat Capital Report

Blue Star Ltd. indicated that Q1 FY22 could end at 80% levels of Q1 FY20 if markets open in June.

They have expanded their product offering for the mass premium segment and identified first time buyers, North Indian markets, mass premium segment are key drivers to gain market share.

They aim to do this while balancing margins through cost and value levers with a longer term target of 10% margins.

They are not participating in the production linked incentive, though their expansions plans in Sricity continues as it will help them address their main South market better.

They continue to be selective in projects business as seen by their margins and cash flows in FY21.

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