Blue Star Ltd

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

Blue Star Ltd

₹ 1,682 2.95%
19 May - close price
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 ₹ 34,584 Cr.
  • Current Price ₹ 1,682
  • High / Low ₹ 2,050 / 1,450
  • Stock P/E 62.1
  • Book Value ₹ 167
  • Dividend Yield 0.54 %
  • ROCE 21.2 %
  • ROE 17.1 %
  • Face Value ₹ 2.00
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Pros

  • Company has delivered good profit growth of 49.4% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 33.0%

Cons

  • Stock is trading at 10.1 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

Consolidated Figures in Rs. Crores / View Standalone

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
2,624 2,226 1,890 2,241 3,328 2,865 2,276 2,807 4,019 2,982 2,422 2,925 4,072
2,445 2,081 1,768 2,086 3,086 2,628 2,127 2,599 3,740 2,784 2,240 2,705 3,746
Operating Profit 179 145 123 155 242 238 149 209 279 199 182 220 326
OPM % 7% 7% 6% 7% 7% 8% 7% 7% 7% 7% 8% 8% 8%
179 9 13 13 13 24 19 21 24 16 10 -44 45
Interest 18 18 18 10 12 8 6 16 19 10 17 22 23
Depreciation 23 23 23 23 28 28 30 35 35 41 43 46 48
Profit before tax 317 114 95 134 214 226 131 179 249 163 132 108 300
Tax % 29% 27% 26% 25% 25% 25% 27% 26% 22% 26% 25% 25% 24%
225 83 71 100 160 169 96 132 194 121 99 81 227
EPS in Rs 11.70 4.33 3.44 4.88 7.81 8.21 4.68 6.45 9.42 5.88 4.82 3.92 11.04
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
3,182 3,798 4,385 4,639 5,235 5,360 4,264 6,046 7,977 9,685 11,968 12,402
3,014 3,631 4,162 4,372 4,887 5,077 4,024 5,698 7,478 9,017 11,089 11,472
Operating Profit 168 167 223 266 348 283 240 347 500 669 879 930
OPM % 5% 4% 5% 6% 7% 5% 6% 6% 6% 7% 7% 8%
-34 66 34 22 26 40 62 36 195 44 83 24
Interest 49 43 38 29 48 29 65 46 55 58 49 72
Depreciation 43 57 61 64 75 88 92 86 85 98 128 179
Profit before tax 43 132 159 196 251 206 145 251 555 557 785 703
Tax % -18% 21% 23% 25% 17% 32% 32% 33% 28% 26% 25% 25%
54 106 123 144 190 144 101 168 401 414 591 527
EPS in Rs 3.01 5.82 6.44 7.50 9.87 7.44 5.21 8.71 20.79 20.18 28.75 25.66
Dividend Payout % 83% 56% 58% 67% 51% 67% 38% 57% 29% 35% 31% 33%
Compounded Sales Growth
10 Years: 13%
5 Years: 24%
3 Years: 16%
TTM: 4%
Compounded Profit Growth
10 Years: 18%
5 Years: 49%
3 Years: 27%
TTM: -5%
Stock Price CAGR
10 Years: 23%
5 Years: 33%
3 Years: 34%
1 Year: 4%
Return on Equity
10 Years: 19%
5 Years: 20%
3 Years: 19%
Last Year: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 438 612 738 774 854 763 866 998 1,311 2,569 3,024 3,390
398 365 221 376 348 520 510 554 662 243 381 810
1,322 1,530 1,672 2,068 2,130 2,137 2,154 2,741 3,406 3,758 4,803 4,335
Total Liabilities 2,175 2,525 2,650 3,236 3,351 3,439 3,549 4,313 5,399 6,611 8,249 8,576
257 259 356 392 400 444 384 433 859 1,165 1,536 1,768
CWIP 22 16 34 25 41 67 72 152 83 127 123 65
Investments 36 242 11 13 15 17 295 162 148 267 432 457
1,860 2,007 2,250 2,806 2,895 2,911 2,799 3,565 4,309 5,053 6,158 6,285
Total Assets 2,175 2,525 2,650 3,236 3,351 3,439 3,549 4,313 5,399 6,611 8,249 8,576

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
215 257 159 19 258 457 350 92 247 289 688 154
-49 -48 69 -88 -65 -88 -238 -67 -179 -524 -463 -359
-190 -195 -203 51 -181 -167 -70 -87 -91 365 -162 137
Net Cash Flow -24 13 25 -18 13 202 42 -62 -22 130 63 -68
Free Cash Flow 180 208 52 -73 180 376 367 -126 65 -144 322 -169
CFO/OP 143% 173% 70% 24% 84% 192% 150% 38% 68% 64% 99% 35%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 82 76 78 75 78 57 69 72 71 74 60 63
Inventory Days 79 104 97 152 119 116 143 126 124 106 131 83
Days Payable 146 211 191 228 211 211 260 224 217 198 209 113
Cash Conversion Cycle 15 -31 -16 -2 -14 -38 -48 -27 -22 -18 -18 33
Working Capital Days -12 -17 6 8 8 -13 -1 6 4 20 16 33
ROCE % 15% 20% 20% 20% 25% 19% 13% 20% 24% 26% 26% 21%

Insights

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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)
% ・Standalone data

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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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