Blue Star Ltd

₹ 1,812 1.05%
14 Jan
🔗 Website | BSE: 500067 | NSE: BLUESTARCO
37,259
1,812
2,270
86.1
139
0.50
22.8
18.2

ABOUT

Blue star manufacturers air purifiers, air coolers, water purifiers, cold storage and speciality products. The Company offers turnkey solutions in MEP (Mechanical, Electrical, Plumbing, and Fire-fighting) Projects. It is the largest after-sales service provider for air conditioning and commercial refrigeration products in the country.[1][2]

Stock Analysis

### Description Blue Star Limited is a leading Indian company in air conditioning, refrigeration, and MEP (Mechanical, Electrical, Plumbing) projects, also offering water management and air purification solutions. ### Key Growth Triggers Currently no data available for Key Growth Triggers. ### Order Book Currently no data available for Order Book. ### Key Red Flags The resignation of an Executive Director can be viewed as a governance event that investors will monitor for potential impact on business continuity. ### Key Dates To Watch - January 15, 2026: Date of resignation acceptance by the Nomination & Remuneration Committee. - February 28, 2026: Mr. Venkata Rao Ponnada's last day with the company.

Peer Comparison

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.LG Electronics1391.7045.9894464.750.00389.43-27.306174.030.9856.8324366.6412.782200.92389.4321.990.07
2.Voltas1439.9086.9647644.090.4931.50-74.412347.32-10.3817.6414158.574.61547.9034.297.486.560.28
3.Blue Star1812.1086.1237259.460.5069.91-17.422294.527.9322.8111627.376.15432.6569.9113.077.030.41
4.Amber Enterp.6113.5096.4521502.430.00-32.15-271.151647.01-2.2414.4910983.176.97222.95-32.865.893.370.77
5.Crompton Gr. Con254.7033.6916400.511.1875.42-31.791915.571.0219.017743.8010.36486.8085.194.839.090.05
6.V-Guard Industri302.8545.4913214.700.5065.293.001340.923.6319.505613.738.55290.4965.296.039.570.07
7.Eureka Forbes566.7559.5310961.150.0061.5938.40773.4514.955.042591.5711.32184.1361.592.442.550.02

Quarterly Results

Figures in Cr.

Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales
1,4171,6552,4272,0811,7412,0553,1232,7142,1262,6823,8052,8472,295
YOY Sales Growth %
29.49%24.58%20.93%12.19%22.84%24.19%28.67%30.42%22.12%30.5%21.85%4.91%7.93%
Expenses
1,3471,5592,2661,9531,6261,9332,9052,5081,9992,5163,5672,6722,158
Material Cost %
78%78%78%79%76%78%79%78%76%79%78%79%77%
Employee Cost %
8%7%6%6%8%7%6%6%8%7%6%7%8%
Operating Profit
7095161127115122217205127166237175137
OPM %
5%6%7%6%7%6%7%8%6%6%6%6%6%
Other Income
86178912101021166191610
Exceptional items
00170.810000000000
Other income normal
8.285.536.769.4912.499.739.5921.1515.546.1218.7715.839.5
Interest
141616151611138617201117
Depreciation
24152018181822212326263235
Profit before tax
41703021039410319219711412921014794
Tax %
26%26%28%26%25%25%25%26%26%25%25%26%26%
Net Profit
3052217777077144146859715710970
EPS in Rs
1.562.711.2743.423.736.987.14.124.717.655.283.4

Profit & Loss

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
2,7903,0813,5304,1104,3034,7844,7863,8425,3957,3538,99911,32611,627
Sales Growth %
0.81%10.44%14.59%16.41%4.71%11.17%0.06%-19.73%40.43%36.28%22.38%25.86%—
Expenses
2,6392,9063,3403,9094,0724,4854,5713,6505,1046,9048,41510,58610,913
Material Cost %
49%49%69%53%51%49%49%52%53%54%51%51%—
Raw material cost
1,4411,5322,4892,1862,4432,1842,3281,9632,9144,1124,4866,075—
Change in inventory
-80-8-61-21-235167125-49-150109-279—
Manufacturing Cost %
28%27%7%24%24%27%28%27%26%26%28%28%—
Employee Cost %
8%8%10%8%8%8%9%8%8%7%7%7%—
Other Cost %
9%10%9%11%11%10%10%8%7%8%8%8%—
Operating Profit
151174190200231299215192292449584740715
OPM %
5%6%5%5%5%6%4%5%5%6%6%7%6%
Other Income
1051543433-5696236194395850
Exceptional items
-164131017-28-4383164-2-4—
Other income normal
251023331623732433304162—
Interest
50433631234532685158565165
Depreciation
353955556169848880807596119
Profit before tax
7614315314818118016898196505492650580
Tax %
0%-7%17%24%27%32%28%33%35%27%25%25%—
Net Profit
7615312711213212212166128367368485433
Exceptional items AT
-163024013-19-3262119-2-3—
Profit excl Excep
9212210311212014112440126248369488—
Profit for PE
9212210311212014112440126248369488—
Profit for EPS
7615312711213212212166128367368485—
EPS in Rs
4.228.487.055.866.896.326.283.426.6319.0317.8723.5821.04
Dividend Payout %
47%29%46%64%73%79%80%58%75%32%39%38%—

Balance Sheet

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
18181819191919191919414141
Reserves
5126077838999299428309009891,2592,4702,8132,810
Borrowings
4473322861493193645586316115643125001,162
Long term Borrowings
000000423471730000
Short term Borrowings
447332286149319364449232367477235319979
Lease Liabilities
—————————————
Other Borrowings
000000800000—
Other Liabilities
1,2751,2361,4461,5531,9311,9141,9061,9302,4233,0033,3444,3513,443
Trade Payables
7898411,0351,1071,4321,4251,4391,4561,8432,2562,4003,1572,292
Advance from Customers
323219240232277239228218303408437578—
Other liability items
1621761722142222512392552773405086171,151
Total Liabilities
2,2512,1932,5332,6203,1993,2403,3143,4804,0424,8466,1687,7067,456
Fixed Assets
2152182313193473594063453775607649921,127
Land
999232919191515151515—
Building
11812764706872142156200296344497—
Plant Machinery
245258115131167214246274322426570656—
Equipments
12122345778111317—
Furniture & fittings
—————————————
Vehicles
999101319222327384771—
Intangible Assets
1720263750515161648512098196
Other fixed assets
374318941111271428388100119148—
Gross Block
4835182613894695466736637701,0141,2821,554—
Accumulated Depreciation
2683003070122187267318393454518562—
CWIP
1522163425416858117534510450
Investments
1212324352152202212215003924509571,2061,114
Other Assets
1,8991,7211,8502,0522,6062,6182,6192,5773,1553,7834,4025,4045,165
Inventories
4664635155801,0028588508681,1261,3141,2331,7792,095
Trade receivables
6806416908138101,0167467121,0191,3281,8001,8171,353
Receivables under 6m
4764897599449241,1068318031,1031,2171,6481,700—
Receivables over 6m
2652390000000209265248—
Prow for Doubtful
—————————————
Cash Equivalents
63364378652722630020517526230630
Loans & Advances
—————————————
Other Assets items
—————————————
Total Assets
2,2512,1932,5332,6203,1993,2403,3143,4804,0424,8466,1687,7067,456

Cash Flows

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
84192271129-2914739230859304247662
Profit from operations
164183140203242295266207301478598773
Receivables
-30-63-69-120-144-2282262-325-359-526-56
Inventory
-90-20-53-65-2841448-18-259-18781-547
Payables
5481236100378141139408442194780
Loans Advances
-22147-21-61-3-70000
Other WC items
21201228-153-50-4298-331122-127
Working capital changes
-6733133-78-209-120200113-208-94-22850
Direct taxes
-13-24-304-44-28-73-12-34-81-123-160
Cash from Investing Activity
-24-20-7373-66-73-58-246-7-86-699-495
Fixed assets purchased
-38-59-58-103-86-106-85-67-147-198-236-258
Fixed assets sold
325416302812117852
Investments purchased
-780-1580000-2790-3,615-5,166-5,178
Investments sold
780015900001373,6515,1105,009
Interest received
8331361351110101112
Redeemp Cnce of Shares
————————————
Acquisition of companies
0000-6-500-27000
Other investing items
0-014200-466-5111
Cash from Financing Activity
-8-199-194-21573-105-13815-147-248539-126
Redemption of debentures
————————————
Proceeds from borrowings
1,9292,295000169035009021,693969
Repayment of borrowings
-1,855-2,410-31-186000-322-69-925-1,900-925
Interest paid fin
-50-43-35-35-23-45-33-43-45-61-61-35
Dividends paid
-27-36-105-2-86-115-224-1-39-96-116-144
Financial liabilities
000000-15-24-24-28-26-30
Other financing items
-5-5-2301690000-160-137-206
Net Cash Flow
52-274-14-22-3019678-95-308741

Ratios

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
897671726978576869667359
Inventory Days
125111789816613313315914312198112
Days Payable
212201156187237221226267235208191199
Cash Conversion Cycle
2-15-7-17-2-11-35-40-22-21-20-28
Working Capital Days
-7-11-196810-16-10-1-3167
ROCE %
15%15%16%17%16%20%15%9%15%23%24%23%

Shareholding Pattern

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
38.79%38.79%38.91%36.49%36.5%36.5%36.53%36.46%36.46%36.47%36.48%36.48%
Anissa Khanna
1.171.172.212.072.072.072.072.072.072.072.072.07
Anita Ashok Advani*
0.030.030.030.030.030.030.030.030.03———
Armaan Sandeep Murthy
0.050.050.050.050.050.050.050.050.050.050.050.05
Ashok M Advani
000000000000
Ashok Mohan Advani as a Trustee of Suneeta Padmi T___
2.72.7——————————
Ashok Mohan Advani as a Trustee of Suneeta Padmi Trust
——0.610.570.570.570.570.570.570.570.570.57
Ashwin Vaswani
———0.010.010.010.010.010.010.010.010.01
Celina Mendoza
——————————0.010.01
Dev Khanna
0.020.020.020.020.020.020.020.020.020.020.020.02
Dinesh Nanik Vaswani
0.030.030.030.030.030.030.030.030.030.030.030.03
Dinesh Nanik Vaswani as a Trustee of Nanik Family Trust
0.580.580.580.540.560.560.560.570.570.570.570.57
Dinesh Nanik Vaswani as a Trustee of Nanik Family Trust 2
0.580.580.580.540.560.560.560.570.570.570.570.57
Dinesh Nanik Vaswani as a Trustee of Suneeta Family Trust
0.580.580.580.540.560.560.560.570.570.570.570.57
Dinesh Nanik Vaswani as a Trustee of Suneeta Family Trust 2
0.580.580.580.540.560.560.560.570.570.570.570.57
Iman Rajiv Lulla
0.020.020.020.020.020.020.020.020.020.020.020.02
J_T_Advani Advisory Private Limited
0.050.050.050.050.050.050.050.050.050.050.050.05
Jay Talati Advani
0.050.050.050.050.050.050.050.050.050.050.050.05
Late Anita Ashok Advani*
—————————0.03——
Late Nanik Ramchand Vaswani**
—————————0——
Nandeeta Vaswani
———0.010.010.010.010.010.010.010.010.01
Nanik Ramchand Vaswani
—000—0—0————
Nanik Ramchand Vaswani - 2
0———0—0—0———
Nargis Suneel Advani
1.181.181.181.111.111.111.111.111.111.111.111.11
Preeti Vaswani
———0.030.030.030.030.030.030.030.030.03
Rajiv Lulla
000000000000
Rana Rajiv Lulla
0.020.020.020.020.020.020.020.020.020.020.020.02
Ria Talati Advani
—————————0.010.010.01
Rohina Lulla
1.211.212.262.122.122.122.122.122.122.122.122.12
Sanjay Vaswani
0.130.130.130.120.120.120.120.120.120.120.120.12
Sumer Sandeep Murthy
0.050.050.050.050.050.050.050.050.050.050.050.05
Sunaina Murthy
—1.111.111.041.041.041.041.041.041.041.041.04
Sunaina S Advani
1.11———————————
Suneel Mohan Advani
1.271.271.271.191.191.191.191.191.191.191.191.19
Suneeta Nanik Vaswani
0.990.990.990.930.860.860.860.820.820.80.80.8
Sunhil Sippy
——————————0.020.02
Uday Vir Advani
0.050.050.050.050.050.050.050.050.050.050.050.05
Vir S Advani
1.121.121.121.051.051.051.071.071.071.081.081.08
Vistra ITCL (India) Limited as a Trustee of Ashok ___
12.4112.4112.4111.6311.6311.6311.6311.6311.6311.6311.6311.63
Vistra ITCL (India) Limited as a Trustee of NSA Fa___
2.392.392.392.242.242.242.242.242.242.242.242.24
Vistra ITCL (India) Limited as a Trustee of SMA Fa___
8.028.028.157.647.647.647.647.577.577.577.577.57
Vistra ITCL (India) Limited as a Trustee of SNA Fa___
2.392.392.392.242.242.242.242.242.242.242.242.24
FIIs
10.96%10.45%11.06%14.89%15.38%15.93%17.04%18.06%18.48%16.94%16.21%16.05%
Caisse De Depot Et Placement Du Quebec - First Sen___
———1.02————————
Caisse De Depot Et Placement Du Quebec - First Sta___
1———————————
Fidelity Funds - India Focus Fund
————1.041.181.28———1.151.1
Government Pension Fund Global
———1.911.911.942.082.152.141.651.411.31
T_ Rowe Price International Discovery Fund
21.31.261.151.15———————
DIIs
24.64%25.13%24.51%25.24%24.82%24.69%23.56%22.84%22.19%23.13%23.37%25.32%
Axis Mutual Fund Trustee Limited A/C Axis Mutual F___
3.543.573.553.043.043.062.992.732.863.843.563.45
Franklin India Smaller Companies Fund
1.531.33——————————
Hsbc Midcap Fund
———————1.491.552.251.99—
Icici Prudential Long Term Equity Fund Tax Savings
1.951.58——————————
Icici Prudential Multicap Fund
———————————1.4
Kotak Emerging Equity Scheme
———6.246.185.876.145.324.973.964.614.49
Kotak Small Cap Fund
5.55.496.09—————————
Nippon Life India Trustee Ltd-A/C Nippon India Sma___
—1.171.171.541.261.121.031.031.041.171.142.54
Sbi Life Insurance Co_ Ltd
———————————1.17
Sbi Small Cap Fund
7.917.927.77.977.947.756.165.595.44.453.673.54
Government
————————————
Public
25.63%25.65%25.54%23.39%23.29%22.89%22.85%22.63%22.86%23.44%23.91%22.12%
Others
0%0%0%0%0%0%0%0%0%0%0.01%0.01%
No. of Shareholders
48,10956,94058,54659,44465,46572,94983,16794,6411,06,7761,29,5551,48,9321,17,734

News & Updates

Documents

Announcements

Announcement under Regulation 30 (LODR)-Resignation of Director
4m - Executive Director Venkata Rao Ponnada resigns Jan 15, 2026; relieved Feb 28, 2026.
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
1d - RTA certificate confirming Regulation 74(5) compliance for securities dematerialisation for quarter ended 31 Dec 2025.
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
12 Nov 2025 - Transcript of earnings call for Q2 and H1 of FY26

Annual Reports

Credit Ratings

Rating update
23 Sep 2025 from crisil
Rating update
8 Jul 2025 from care
Rating update
2 Dec 2024 from crisil
Rating update
27 Nov 2024 from care
Rating update
11 Jul 2024 from care
Rating update
28 Jun 2024 from crisil

Concalls

Nov 2025
Aug 2025
May 2025
Feb 2025
Nov 2024
Nov 2024
PPT
Nov 2024
PPT
Aug 2024
May 2024
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Nov 2023
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Aug 2023
PPT
May 2023
Feb 2023
Nov 2022
Aug 2022
May 2022
Feb 2022
Nov 2021
Aug 2021
May 2021
Feb 2021
Feb 2021
Nov 2020
Nov 2020
Aug 2020
Aug 2020
Jun 2020
May 2020
Feb 2020
Dec 2019
Nov 2019
Sep 2019
Aug 2019
May 2019
May 2019
Feb 2019
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Nov 2018
Nov 2018
Aug 2018
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Jun 2018
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Nov 2017
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Sep 2016
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Mar 2016