Blue Star Ltd

Blue Star Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Blue Star Ltd

₹ 1,673 -0.51%
20 May 9:37 a.m.
bluestarindia.com BSE: 500067 NSE: BLUESTARCO
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]

Key Points

Business Segments
1 Electro-Mechanical Projects: Large central AC & ventilation projects, Fire-fighting projects, Water projects, Plumbing projects, Electrical projects and Railway electrification.[1]
2 Commercial Air Conditioning: Blue Star is the market leader in Conventional and Inverter Ducted Air Conditioning Systems and Scroll Chillers and is at the second position in VRFs and Screw Chillers
3 Unitary products: ACs, Air Coolers, Water Purifiers, Commercial Refrigeration etc. Products available in 8,800 outlets in 650+ locations.
4 Professional Electronics and Industrial Systems (PE&IS): Specialized Technology Solutions, Engineered Turnkey Projects, Value-Enhancing Services, MedTech Solutions, Data
Security Solutions, Industrial Solutions.[2]

Website BSE NSE
  • Market Cap ₹ 34,396 Cr.
  • Current Price ₹ 1,673
  • High / Low ₹ 2,050 / 1,450
  • Stock P/E 83.4
  • Book Value ₹ 149
  • Dividend Yield 0.54 %
  • ROCE 17.3 %
  • ROE 14.0 %
  • Face Value ₹ 2.00
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Pros

  • Company has delivered good profit growth of 59.2% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 40.9%

Cons

  • Stock is trading at 11.3 times its book value

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Consumer Discretionary Consumer Durables Consumer Durables Household Appliances

Part of BSE 500 BSE Consumer Durables Nifty 500 Nifty Midcap 100 Nifty500 Shariah

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
2,427 2,081 1,741 2,055 3,123 2,714 2,126 2,682 3,805 2,847 2,295 2,775 3,863
2,266 1,953 1,626 1,933 2,905 2,508 1,999 2,516 3,567 2,672 2,158 2,610 3,617
Operating Profit 161 127 115 122 217 205 127 166 237 175 137 165 246
OPM % 7% 6% 7% 6% 7% 8% 6% 6% 6% 6% 6% 6% 6%
178 9 12 10 10 21 16 6 19 16 10 -45 38
Interest 16 15 16 11 13 8 6 17 20 11 17 23 24
Depreciation 20 18 18 18 22 21 23 26 26 32 35 37 39
Profit before tax 302 103 94 103 192 197 114 129 210 147 94 60 222
Tax % 28% 26% 25% 25% 25% 26% 26% 25% 25% 26% 26% 27% 27%
217 77 70 77 144 146 85 97 157 109 70 44 163
EPS in Rs 11.27 4.00 3.42 3.73 6.98 7.10 4.12 4.71 7.65 5.28 3.40 2.13 7.92
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
3,081 3,530 4,110 4,303 4,784 4,786 3,842 5,395 7,353 8,999 11,326 11,779
2,906 3,340 3,909 4,072 4,485 4,571 3,650 5,104 6,904 8,415 10,586 11,057
Operating Profit 174 190 200 231 299 215 192 292 449 584 740 723
OPM % 6% 5% 5% 5% 6% 4% 5% 5% 6% 6% 7% 6%
51 54 34 33 -5 69 62 36 194 39 58 18
Interest 43 36 31 23 45 32 68 51 58 56 51 76
Depreciation 39 55 55 61 69 84 88 80 80 75 96 142
Profit before tax 143 153 148 181 180 168 98 196 505 492 650 522
Tax % -7% 17% 24% 27% 32% 28% 33% 35% 27% 25% 25% 26%
153 127 112 132 122 121 66 128 367 368 485 385
EPS in Rs 8.48 7.05 5.86 6.89 6.32 6.28 3.42 6.63 19.03 17.87 23.58 18.73
Dividend Payout % 29% 46% 64% 73% 79% 80% 58% 75% 32% 39% 38% 45%
Compounded Sales Growth
10 Years: 13%
5 Years: 25%
3 Years: 17%
TTM: 4%
Compounded Profit Growth
10 Years: 15%
5 Years: 59%
3 Years: 19%
TTM: -15%
Stock Price CAGR
10 Years: 23%
5 Years: 33%
3 Years: 34%
1 Year: 4%
Return on Equity
10 Years: 15%
5 Years: 17%
3 Years: 17%
Last Year: 14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 18 18 19 19 19 19 19 19 19 41 41 41
Reserves 607 783 899 929 942 830 900 989 1,259 2,470 2,813 3,019
332 286 149 319 364 558 631 611 564 312 500 918
1,236 1,446 1,553 1,931 1,914 1,906 1,930 2,423 3,003 3,344 4,351 3,977
Total Liabilities 2,193 2,533 2,620 3,199 3,240 3,314 3,480 4,042 4,846 6,168 7,706 7,955
218 231 319 347 359 406 345 377 560 764 992 1,210
CWIP 22 16 34 25 41 68 58 117 53 45 104 62
Investments 232 435 215 220 221 221 500 392 450 957 1,206 1,162
1,721 1,850 2,052 2,606 2,618 2,619 2,577 3,155 3,783 4,402 5,404 5,521
Total Assets 2,193 2,533 2,620 3,199 3,240 3,314 3,480 4,042 4,846 6,168 7,706 7,955

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
192 271 129 -29 147 392 308 59 304 247 662 41
-20 -73 73 -66 -73 -58 -246 -7 -86 -699 -495 -176
-199 -194 -215 73 -105 -138 15 -147 -248 539 -126 127
Net Cash Flow -27 4 -14 -22 -30 196 78 -95 -30 87 41 -7
Free Cash Flow 158 217 27 -109 71 309 322 -67 284 19 409 -241
CFO/OP 124% 158% 62% 7% 59% 216% 166% 32% 86% 63% 111% 25%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 76 71 72 69 78 57 68 69 66 73 59 60
Inventory Days 111 78 98 166 133 133 159 143 121 98 112 72
Days Payable 201 156 187 237 221 226 267 235 208 191 199 106
Cash Conversion Cycle -15 -7 -17 -2 -11 -35 -40 -22 -21 -20 -28 26
Working Capital Days -11 -19 6 8 10 -16 -10 -1 -3 16 7 19
ROCE % 15% 16% 17% 16% 20% 15% 9% 15% 23% 24% 23% 17%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Number of Manufacturing Facilities
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Room AC Market Share
%
Carried-forward Order Book
Rs Cr
Number of Channel Partners
Count
R&D Expenditure (Percentage of Turnover)
%

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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
38.91% 36.49% 36.50% 36.50% 36.53% 36.46% 36.46% 36.47% 36.48% 36.48% 36.48% 36.48%
11.06% 14.89% 15.38% 15.93% 17.04% 18.06% 18.48% 16.94% 16.21% 16.05% 14.66% 13.80%
24.51% 25.24% 24.82% 24.69% 23.56% 22.84% 22.19% 23.13% 23.37% 25.32% 26.76% 27.78%
25.54% 23.39% 23.29% 22.89% 22.85% 22.63% 22.86% 23.44% 23.91% 22.12% 22.08% 21.92%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.01% 0.01% 0.01%
No. of Shareholders 58,54659,44465,46572,94983,16794,6411,06,7761,29,5551,48,9321,17,7341,11,2151,11,852

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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