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]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market 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 value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | LG Electronics | 1391.70 | 45.98 | 94464.75 | 0.00 | 389.43 | -27.30 | 6174.03 | 0.98 | 56.83 | 24366.64 | 12.78 | 2200.92 | 389.43 | 21.99 | 0.07 | |
| 2. | Voltas | 1439.90 | 86.96 | 47644.09 | 0.49 | 31.50 | -74.41 | 2347.32 | -10.38 | 17.64 | 14158.57 | 4.61 | 547.90 | 34.29 | 7.48 | 6.56 | 0.28 |
| 3. | Blue Star | 1812.10 | 86.12 | 37259.46 | 0.50 | 69.91 | -17.42 | 2294.52 | 7.93 | 22.81 | 11627.37 | 6.15 | 432.65 | 69.91 | 13.07 | 7.03 | 0.41 |
| 4. | Amber Enterp. | 6113.50 | 96.45 | 21502.43 | 0.00 | -32.15 | -271.15 | 1647.01 | -2.24 | 14.49 | 10983.17 | 6.97 | 222.95 | -32.86 | 5.89 | 3.37 | 0.77 |
| 5. | Crompton Gr. Con | 254.70 | 33.69 | 16400.51 | 1.18 | 75.42 | -31.79 | 1915.57 | 1.02 | 19.01 | 7743.80 | 10.36 | 486.80 | 85.19 | 4.83 | 9.09 | 0.05 |
| 6. | V-Guard Industri | 302.85 | 45.49 | 13214.70 | 0.50 | 65.29 | 3.00 | 1340.92 | 3.63 | 19.50 | 5613.73 | 8.55 | 290.49 | 65.29 | 6.03 | 9.57 | 0.07 |
| 7. | Eureka Forbes | 566.75 | 59.53 | 10961.15 | 0.00 | 61.59 | 38.40 | 773.45 | 14.95 | 5.04 | 2591.57 | 11.32 | 184.13 | 61.59 | 2.44 | 2.55 | 0.02 |
Figures in Cr.
| Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Sales
|
1,417 | 1,655 | 2,427 | 2,081 | 1,741 | 2,055 | 3,123 | 2,714 | 2,126 | 2,682 | 3,805 | 2,847 | 2,295 |
|
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
|
1,347 | 1,559 | 2,266 | 1,953 | 1,626 | 1,933 | 2,905 | 2,508 | 1,999 | 2,516 | 3,567 | 2,672 | 2,158 |
|
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
|
70 | 95 | 161 | 127 | 115 | 122 | 217 | 205 | 127 | 166 | 237 | 175 | 137 |
|
OPM %
|
5% | 6% | 7% | 6% | 7% | 6% | 7% | 8% | 6% | 6% | 6% | 6% | 6% |
|
Other Income
|
8 | 6 | 178 | 9 | 12 | 10 | 10 | 21 | 16 | 6 | 19 | 16 | 10 |
|
Exceptional items
|
0 | 0 | 170.81 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|
Other income normal
|
8.28 | 5.53 | 6.76 | 9.49 | 12.49 | 9.73 | 9.59 | 21.15 | 15.54 | 6.12 | 18.77 | 15.83 | 9.5 |
|
Interest
|
14 | 16 | 16 | 15 | 16 | 11 | 13 | 8 | 6 | 17 | 20 | 11 | 17 |
|
Depreciation
|
24 | 15 | 20 | 18 | 18 | 18 | 22 | 21 | 23 | 26 | 26 | 32 | 35 |
|
Profit before tax
|
41 | 70 | 302 | 103 | 94 | 103 | 192 | 197 | 114 | 129 | 210 | 147 | 94 |
|
Tax %
|
26% | 26% | 28% | 26% | 25% | 25% | 25% | 26% | 26% | 25% | 25% | 26% | 26% |
|
Net Profit
|
30 | 52 | 217 | 77 | 70 | 77 | 144 | 146 | 85 | 97 | 157 | 109 | 70 |
|
EPS in Rs
|
1.56 | 2.7 | 11.27 | 4 | 3.42 | 3.73 | 6.98 | 7.1 | 4.12 | 4.71 | 7.65 | 5.28 | 3.4 |
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Sales
|
2,790 | 3,081 | 3,530 | 4,110 | 4,303 | 4,784 | 4,786 | 3,842 | 5,395 | 7,353 | 8,999 | 11,326 | 11,627 |
|
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
|
2,639 | 2,906 | 3,340 | 3,909 | 4,072 | 4,485 | 4,571 | 3,650 | 5,104 | 6,904 | 8,415 | 10,586 | 10,913 |
|
Material Cost %
|
49% | 49% | 69% | 53% | 51% | 49% | 49% | 52% | 53% | 54% | 51% | 51% | — |
|
Raw material cost
|
1,441 | 1,532 | 2,489 | 2,186 | 2,443 | 2,184 | 2,328 | 1,963 | 2,914 | 4,112 | 4,486 | 6,075 | — |
|
Change in inventory
|
-80 | -8 | -61 | -21 | -235 | 167 | 1 | 25 | -49 | -150 | 109 | -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
|
151 | 174 | 190 | 200 | 231 | 299 | 215 | 192 | 292 | 449 | 584 | 740 | 715 |
|
OPM %
|
5% | 6% | 5% | 5% | 5% | 6% | 4% | 5% | 5% | 6% | 6% | 7% | 6% |
|
Other Income
|
10 | 51 | 54 | 34 | 33 | -5 | 69 | 62 | 36 | 194 | 39 | 58 | 50 |
|
Exceptional items
|
-16 | 41 | 31 | 0 | 17 | -28 | -4 | 38 | 3 | 164 | -2 | -4 | — |
|
Other income normal
|
25 | 10 | 23 | 33 | 16 | 23 | 73 | 24 | 33 | 30 | 41 | 62 | — |
|
Interest
|
50 | 43 | 36 | 31 | 23 | 45 | 32 | 68 | 51 | 58 | 56 | 51 | 65 |
|
Depreciation
|
35 | 39 | 55 | 55 | 61 | 69 | 84 | 88 | 80 | 80 | 75 | 96 | 119 |
|
Profit before tax
|
76 | 143 | 153 | 148 | 181 | 180 | 168 | 98 | 196 | 505 | 492 | 650 | 580 |
|
Tax %
|
0% | -7% | 17% | 24% | 27% | 32% | 28% | 33% | 35% | 27% | 25% | 25% | — |
|
Net Profit
|
76 | 153 | 127 | 112 | 132 | 122 | 121 | 66 | 128 | 367 | 368 | 485 | 433 |
|
Exceptional items AT
|
-16 | 30 | 24 | 0 | 13 | -19 | -3 | 26 | 2 | 119 | -2 | -3 | — |
|
Profit excl Excep
|
92 | 122 | 103 | 112 | 120 | 141 | 124 | 40 | 126 | 248 | 369 | 488 | — |
|
Profit for PE
|
92 | 122 | 103 | 112 | 120 | 141 | 124 | 40 | 126 | 248 | 369 | 488 | — |
|
Profit for EPS
|
76 | 153 | 127 | 112 | 132 | 122 | 121 | 66 | 128 | 367 | 368 | 485 | — |
|
EPS in Rs
|
4.22 | 8.48 | 7.05 | 5.86 | 6.89 | 6.32 | 6.28 | 3.42 | 6.63 | 19.03 | 17.87 | 23.58 | 21.04 |
|
Dividend Payout %
|
47% | 29% | 46% | 64% | 73% | 79% | 80% | 58% | 75% | 32% | 39% | 38% | — |
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Equity Capital
|
18 | 18 | 18 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 41 | 41 | 41 |
|
Reserves
|
512 | 607 | 783 | 899 | 929 | 942 | 830 | 900 | 989 | 1,259 | 2,470 | 2,813 | 2,810 |
|
Borrowings
|
447 | 332 | 286 | 149 | 319 | 364 | 558 | 631 | 611 | 564 | 312 | 500 | 1,162 |
|
Long term Borrowings
|
0 | 0 | 0 | 0 | 0 | 0 | 42 | 347 | 173 | 0 | 0 | 0 | 0 |
|
Short term Borrowings
|
447 | 332 | 286 | 149 | 319 | 364 | 449 | 232 | 367 | 477 | 235 | 319 | 979 |
|
Lease Liabilities
|
— | — | — | — | — | — | — | — | — | — | — | — | — |
|
Other Borrowings
|
0 | 0 | 0 | 0 | 0 | 0 | 8 | 0 | 0 | 0 | 0 | 0 | — |
|
Other Liabilities
|
1,275 | 1,236 | 1,446 | 1,553 | 1,931 | 1,914 | 1,906 | 1,930 | 2,423 | 3,003 | 3,344 | 4,351 | 3,443 |
|
Trade Payables
|
789 | 841 | 1,035 | 1,107 | 1,432 | 1,425 | 1,439 | 1,456 | 1,843 | 2,256 | 2,400 | 3,157 | 2,292 |
|
Advance from Customers
|
323 | 219 | 240 | 232 | 277 | 239 | 228 | 218 | 303 | 408 | 437 | 578 | — |
|
Other liability items
|
162 | 176 | 172 | 214 | 222 | 251 | 239 | 255 | 277 | 340 | 508 | 617 | 1,151 |
|
Total Liabilities
|
2,251 | 2,193 | 2,533 | 2,620 | 3,199 | 3,240 | 3,314 | 3,480 | 4,042 | 4,846 | 6,168 | 7,706 | 7,456 |
|
Fixed Assets
|
215 | 218 | 231 | 319 | 347 | 359 | 406 | 345 | 377 | 560 | 764 | 992 | 1,127 |
|
Land
|
9 | 9 | 9 | 23 | 29 | 19 | 19 | 15 | 15 | 15 | 15 | 15 | — |
|
Building
|
118 | 127 | 64 | 70 | 68 | 72 | 142 | 156 | 200 | 296 | 344 | 497 | — |
|
Plant Machinery
|
245 | 258 | 115 | 131 | 167 | 214 | 246 | 274 | 322 | 426 | 570 | 656 | — |
|
Equipments
|
12 | 12 | 2 | 3 | 4 | 5 | 7 | 7 | 8 | 11 | 13 | 17 | — |
|
Furniture & fittings
|
— | — | — | — | — | — | — | — | — | — | — | — | — |
|
Vehicles
|
9 | 9 | 9 | 10 | 13 | 19 | 22 | 23 | 27 | 38 | 47 | 71 | — |
|
Intangible Assets
|
17 | 20 | 26 | 37 | 50 | 51 | 51 | 61 | 64 | 85 | 120 | 98 | 196 |
|
Other fixed assets
|
37 | 43 | 18 | 94 | 111 | 127 | 142 | 83 | 88 | 100 | 119 | 148 | — |
|
Gross Block
|
483 | 518 | 261 | 389 | 469 | 546 | 673 | 663 | 770 | 1,014 | 1,282 | 1,554 | — |
|
Accumulated Depreciation
|
268 | 300 | 30 | 70 | 122 | 187 | 267 | 318 | 393 | 454 | 518 | 562 | — |
|
CWIP
|
15 | 22 | 16 | 34 | 25 | 41 | 68 | 58 | 117 | 53 | 45 | 104 | 50 |
|
Investments
|
121 | 232 | 435 | 215 | 220 | 221 | 221 | 500 | 392 | 450 | 957 | 1,206 | 1,114 |
|
Other Assets
|
1,899 | 1,721 | 1,850 | 2,052 | 2,606 | 2,618 | 2,619 | 2,577 | 3,155 | 3,783 | 4,402 | 5,404 | 5,165 |
|
Inventories
|
466 | 463 | 515 | 580 | 1,002 | 858 | 850 | 868 | 1,126 | 1,314 | 1,233 | 1,779 | 2,095 |
|
Trade receivables
|
680 | 641 | 690 | 813 | 810 | 1,016 | 746 | 712 | 1,019 | 1,328 | 1,800 | 1,817 | 1,353 |
|
Receivables under 6m
|
476 | 489 | 759 | 944 | 924 | 1,106 | 831 | 803 | 1,103 | 1,217 | 1,648 | 1,700 | — |
|
Receivables over 6m
|
265 | 239 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 209 | 265 | 248 | — |
|
Prow for Doubtful
|
— | — | — | — | — | — | — | — | — | — | — | — | — |
|
Cash Equivalents
|
63 | 36 | 43 | 78 | 65 | 27 | 226 | 300 | 205 | 175 | 262 | 306 | 30 |
|
Loans & Advances
|
— | — | — | — | — | — | — | — | — | — | — | — | — |
|
Other Assets items
|
— | — | — | — | — | — | — | — | — | — | — | — | — |
|
Total Assets
|
2,251 | 2,193 | 2,533 | 2,620 | 3,199 | 3,240 | 3,314 | 3,480 | 4,042 | 4,846 | 6,168 | 7,706 | 7,456 |
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Cash from Operating Activity
|
84 | 192 | 271 | 129 | -29 | 147 | 392 | 308 | 59 | 304 | 247 | 662 |
|
Profit from operations
|
164 | 183 | 140 | 203 | 242 | 295 | 266 | 207 | 301 | 478 | 598 | 773 |
|
Receivables
|
-30 | -63 | -69 | -120 | -144 | -228 | 226 | 2 | -325 | -359 | -526 | -56 |
|
Inventory
|
-90 | -20 | -53 | -65 | -284 | 144 | 8 | -18 | -259 | -187 | 81 | -547 |
|
Payables
|
54 | 81 | 236 | 100 | 378 | 14 | 11 | 39 | 408 | 442 | 194 | 780 |
|
Loans Advances
|
-22 | 14 | 7 | -21 | -6 | 1 | -3 | -7 | 0 | 0 | 0 | 0 |
|
Other WC items
|
21 | 20 | 12 | 28 | -153 | -50 | -42 | 98 | -33 | 11 | 22 | -127 |
|
Working capital changes
|
-67 | 33 | 133 | -78 | -209 | -120 | 200 | 113 | -208 | -94 | -228 | 50 |
|
Direct taxes
|
-13 | -24 | -30 | 4 | -44 | -28 | -73 | -12 | -34 | -81 | -123 | -160 |
|
Cash from Investing Activity
|
-24 | -20 | -73 | 73 | -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
|
3 | 25 | 4 | 1 | 6 | 30 | 2 | 81 | 21 | 178 | 5 | 2 |
|
Investments purchased
|
-78 | 0 | -158 | 0 | 0 | 0 | 0 | -279 | 0 | -3,615 | -5,166 | -5,178 |
|
Investments sold
|
78 | 0 | 0 | 159 | 0 | 0 | 0 | 0 | 137 | 3,651 | 5,110 | 5,009 |
|
Interest received
|
8 | 3 | 3 | 13 | 6 | 13 | 5 | 11 | 10 | 10 | 11 | 12 |
|
Redeemp Cnce of Shares
|
— | — | — | — | — | — | — | — | — | — | — | — |
|
Acquisition of companies
|
0 | 0 | 0 | 0 | -6 | -5 | 0 | 0 | -27 | 0 | 0 | 0 |
|
Other investing items
|
0 | -0 | 142 | 0 | 0 | -4 | 6 | 6 | -5 | 1 | 1 | 1 |
|
Cash from Financing Activity
|
-8 | -199 | -194 | -215 | 73 | -105 | -138 | 15 | -147 | -248 | 539 | -126 |
|
Redemption of debentures
|
— | — | — | — | — | — | — | — | — | — | — | — |
|
Proceeds from borrowings
|
1,929 | 2,295 | 0 | 0 | 0 | 16 | 90 | 350 | 0 | 902 | 1,693 | 969 |
|
Repayment of borrowings
|
-1,855 | -2,410 | -31 | -186 | 0 | 0 | 0 | -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
|
0 | 0 | 0 | 0 | 0 | 0 | -15 | -24 | -24 | -28 | -26 | -30 |
|
Other financing items
|
-5 | -5 | -23 | 0 | 169 | 0 | 0 | 0 | 0 | -160 | -137 | -206 |
|
Net Cash Flow
|
52 | -27 | 4 | -14 | -22 | -30 | 196 | 78 | -95 | -30 | 87 | 41 |
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Debtor Days
|
89 | 76 | 71 | 72 | 69 | 78 | 57 | 68 | 69 | 66 | 73 | 59 |
|
Inventory Days
|
125 | 111 | 78 | 98 | 166 | 133 | 133 | 159 | 143 | 121 | 98 | 112 |
|
Days Payable
|
212 | 201 | 156 | 187 | 237 | 221 | 226 | 267 | 235 | 208 | 191 | 199 |
|
Cash Conversion Cycle
|
2 | -15 | -7 | -17 | -2 | -11 | -35 | -40 | -22 | -21 | -20 | -28 |
|
Working Capital Days
|
-7 | -11 | -19 | 6 | 8 | 10 | -16 | -10 | -1 | -3 | 16 | 7 |
|
ROCE %
|
15% | 15% | 16% | 17% | 16% | 20% | 15% | 9% | 15% | 23% | 24% | 23% |
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