by Sachin Murdeshwar
Mumbai : Air conditioning and commercial refrigeration major, Blue Star Limited has achieved a significant landmark by completing 75 successful years of operations. To commemorate this historic milestone, the Company rang the ‘Opening’ and ‘Closing’ bells at the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), respectively. Blue Star also released a Special Cover with a cancelled stamp issued by the Department of India Post to mark this momentous occasion.
Blue Star Limited was listed on the Bombay Stock Exchange on September 18, 1969 and over the last 49 years has ensured dividend pay-outs every single year. In this Platinum Jubilee year, the Company increased its basic dividend from Rs 7.50 to Rs 8.50 per share, and added a special Platinum Jubilee Rs 1.50 dividend, to give its shareholders a record Rs 10 for each Rs 2 share.
As Blue Star takes its first steps from Platinum Jubilee towards its centenary, the Company has ambitious growth plans. Its rolling, 3-year strategic plan has a strong emphasis on revenue growth, profitability improvement and productivity enhancement. The Company aspires to grow faster than the market; improve profitability through backward integration; harness the power of digital technologies for greater customer intimacy and efficiency; differentiate itself through excellence programmes; continue to improve its return on capital employed; and invest in human capital.
Commenting on the Platinum Jubilee, Suneel M Advani, Chairman of the Board, Blue Star Limited adds, “We are proud to ring in 75 years of engineering excellence. We are witnessing a paradigm shift in consumer expectations and hence our credo: ‘I am Blue Star. I take pride in delivering a world-class customer experience.’ I am honoured to have served this Company for almost 50 years now and the journey has been really exhilarating. Over the years, Blue Star has sustained steady growth and profitability. We are confident that our business model which is as strong and robust as the products and services we offer, combined with the vigour and agility of our young leadership, will lead our way to our centennial.”