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Socho, Blue Star ne FY26 ke fourth quarter mein apna net profit 17.3% udaan di hai, jo pichle saal ke ₹194 crore se badhkar ab ₹227 crore ho gaya hai. Yeh sab tab hua jab consolidated revenue sirf 1.3% badhkar ₹4,072 crore raha. Is profit mein ek ₹17.52 crore ka one-time gain bhi tha, jo labor code charges ko reverse karne se mila. Operating income ya EBITDA bhi 16.8% badhkar ₹326 crore raha, aur EBITDA margin 7% se sudhar kar 8% ho gaya. Dividend bhi shareholders ko ₹8.50 per share ka mil raha hai.
Asal mein, company ne operational efficiencies aur margin improvements par kaafi focus kiya hai. Iska fayda dikh raha hai. Waise, Indian HVAC market bhi future mein kaafi grow karne wala hai, lagbhag double ho jayega next 5 saalon mein, around 15% annually grow karega. Residential AC penetration abhi bhi sirf 10% hai, matlab space bahut hai. Lekin competition bhi kam nahi hai, jaise Havells India ne apne Q4 mein ~40% profit jump dikhaya tha. Blue Star ka revenue growth 1.3% kuch competitors se kam hai, par margins sudharna achhi baat hai.
Abhi jo global halaat chal rahe hain, usse thoda milaa-jula asar hai. Middle East crisis ki wajah se supply chain mein problems aa rahi hain, jisse raw material milne mein dikkat aur freight costs badhne ki sambhavna hai. Isse production mein der ho sakti hai aur input expenses bhi badh sakte hain, jo margins ko daba sakte hain. Finance expenses bhi ₹18.75 crore se badhkar ₹23.06 crore ho gaye hain.
Experts ka Blue Star par view mila-jula hai. Zyadaatar 'Hold' rating de rahe hain, aur price targets ₹1,114 se lekar ₹2,260 tak vary kar rahe hain. Kuch log improved margins ko positive maan rahe hain, jabki kuch revenue growth aur valuation ko lekar chintit hain.
FY27 ke liye, CMD Vir S. Advani ka kehna hai ki summer season se consumer sales mein steady increase expect kar rahe hain. Par woh Middle East crisis, badhti input costs, aur volatile exchange rates ko lekar bhi warn kar rahe hain. Company distribution network expand karne, R&D aur manufacturing mein invest karne ka plan bana rahi hai, saath hi cost optimization par bhi kaam chal raha hai. Poora picture May 7, 2026 ko hone wali earnings call mein clear hoga.