Blue Star, one of the leading central air conditioning and commercial refrigeration company, has been named in the latest ‘200 Best under a Billion’ list for the Asia Pacific region by US magazine, Forbes.
The annual ‘Best under a Billion’ list picks the best 200 small and medium sized companies from 24,155 listed firms with sales of less than USD 1 billion in the Asia Pacific region. The companies are chosen based on their record of consistent growth and profitability.
The list appeared in the September 29 issue of Forbes Asia. Only 22 Indian companies found a place in the list of 200 and Blue Star is one of them. Blue Star has posted consistent growth in sales and profits over the last several years. For the year ended March 31, 2008, its total income increased by 41 per cent to Rs 2270 crore and profit after tax by 145 per cent to Rs174.09 crore.
Commenting on the achievement, B Thiagarajan, Executive Vice President, Blue Star said, “We are pleased about the fact that Forbes Asia has picked Blue Star as one of the 200 outstanding companies in the Asia Pacific region. The company’s unwavering focus on profitable growth has clearly produced good results. This achievement is a result of sound strategy implemented with great commitment and competence by the entire Blue Star team.”
Ashok M Advani, Chairman and Managing Director says, “2007-08 was, by far, the best year in Blue Star’s 65-year old history. Record top-line growth, lower costs and tight operational control have led to this exceptional financial performance. We have achieved steadily improving results over a number of years in a competitive market and this gives me confidence that Blue Star will sustain its momentum of high growth and profitability in the current year.”
