About
Blue Star Limited operates as a heating, ventilation, air conditioning, and commercial refrigeration (HVAC&R) company in India. It operates through three segments: Electro-Mechanical Projects and Commercial Air Conditioning Systems; Unitary Products; and Professional Electronics and Industrial Systems. The Electro-Mechanical Projects and Commercial Air Conditioning Systems segment engages in the design, installation, and maintenance of central air conditioning systems, including packaged, ducted systems, variable refrigerant flow units, scroll chillers, screw chillers, centrifugal chillers, and data center chillers. This segment provides turnkey contracting services for mechanical, electrical and plumbing, and firefighting sectors, as well as value-added services, such as retrofitting, system upgrades, and ongoing operational support. Its Unitary Products segment is involved in the development, manufacture, and distribution of air conditioners for commercial and residential use, as well as the provision of commercial refrigeration solutions, cold chain equipment, air purifiers, and air coolers. The Professional Electronics and Industrial Systems segment trades in and services testing machines, medical, analytical, test and measuring, data communications, and industrial products and systems. The company also exports its products to the Middle East, Africa, SAARC, and ASEAN regions. Blue Star Limited was founded in 1943 and is headquartered in Mumbai, India.
Key Metrics
as of Sep 2026Market Cap30,513 Cr
P/E57.70
Div Yield0.57 %
Book Value₹167.00
52w High₹2,033.00
52w Low₹1,432.00
Face Value₹2.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,378.00 | 4,072.00 | 2,925.00 | 2,422.00 | 2,982.00 | 4,019.00 | 2,807.00 | 2,276.00 | 2,865.00 | 3,328.00 | 2,241.00 | 1,890.00 | 2,226.00 |
| Expenses | 3,203.00 | 3,746.00 | 2,705.00 | 2,240.00 | 2,784.00 | 3,740.00 | 2,599.00 | 2,127.00 | 2,628.00 | 3,086.00 | 2,086.00 | 1,768.00 | 2,081.00 |
| Operating Profit | 175.00 | 326.00 | 220.00 | 182.00 | 199.00 | 279.00 | 209.00 | 149.00 | 238.00 | 242.00 | 155.00 | 123.00 | 145.00 |
| OPM % | 5.00 | 8.00 | 8.00 | 8.00 | 7.00 | 7.00 | 7.00 | 7.00 | 8.00 | 7.00 | 7.00 | 6.00 | 7.00 |
| Other Income | 30.00 | 45.00 | -44.00 | 10.00 | 16.00 | 24.00 | 21.00 | 19.00 | 24.00 | 13.00 | 13.00 | 13.00 | 9.00 |
| Depreciation | 57.00 | 48.00 | 46.00 | 43.00 | 41.00 | 35.00 | 35.00 | 30.00 | 28.00 | 28.00 | 23.00 | 23.00 | 23.00 |
| Interest | 13.00 | 23.00 | 22.00 | 17.00 | 10.00 | 19.00 | 16.00 | 6.00 | 8.00 | 12.00 | 10.00 | 18.00 | 18.00 |
| Profit before tax | 135.00 | 300.00 | 108.00 | 132.00 | 163.00 | 249.00 | 179.00 | 131.00 | 226.00 | 214.00 | 134.00 | 95.00 | 114.00 |
| Tax % | 24.00 | 24.00 | 25.00 | 25.00 | 26.00 | 22.00 | 26.00 | 27.00 | 25.00 | 25.00 | 25.00 | 26.00 | 27.00 |
| Net Profit | 103.00 | 227.00 | 81.00 | 99.00 | 121.00 | 194.00 | 132.00 | 96.00 | 169.00 | 160.00 | 100.00 | 71.00 | 83.00 |
| EPS in Rs | 4.99 | 11.04 | 3.92 | 4.82 | 5.88 | 9.42 | 6.45 | 4.68 | 8.21 | 7.81 | 4.88 | 3.44 | 4.33 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 12,402.00 | 11,968.00 | 9,685.00 | 7,977.00 | 6,064.00 | 4,264.00 | 5,360.00 | 5,235.00 | 4,639.00 | 4,385.00 | 3,798.00 | 3,182.00 |
| Expenses | 11,469.00 | 11,089.00 | 9,017.00 | 7,478.00 | 5,717.00 | 4,024.00 | 5,077.00 | 4,887.00 | 4,372.00 | 4,162.00 | 3,631.00 | 3,014.00 |
| Operating Profit | 933.00 | 879.00 | 669.00 | 500.00 | 347.00 | 240.00 | 283.00 | 348.00 | 266.00 | 223.00 | 167.00 | 168.00 |
| OPM % | 8.00 | 7.00 | 7.00 | 6.00 | 6.00 | 6.00 | 5.00 | 7.00 | 6.00 | 5.00 | 4.40 | 5.00 |
| Other Income | 21.00 | 83.00 | 44.00 | 195.00 | 36.00 | 62.00 | 40.00 | 26.00 | 22.00 | 34.00 | 66.00 | -34.00 |
| Interest | 72.00 | 49.00 | 58.00 | 55.00 | 46.00 | 65.00 | 29.00 | 48.00 | 29.00 | 38.00 | 43.00 | 49.00 |
| Depreciation | 179.00 | 128.00 | 98.00 | 85.00 | 86.00 | 92.00 | 88.00 | 75.00 | 64.00 | 61.00 | 57.00 | 43.00 |
| Profit before tax | 703.00 | 785.00 | 557.00 | 555.00 | 251.00 | 145.00 | 206.00 | 251.00 | 196.00 | 159.00 | 132.00 | 43.00 |
| Tax % | 25.00 | 25.00 | 26.00 | 28.00 | 33.00 | 32.00 | 32.00 | 17.00 | 25.00 | 23.00 | 21.00 | -18.00 |
| Net Profit | 527.00 | 591.00 | 414.00 | 401.00 | 168.00 | 101.00 | 144.00 | 190.00 | 144.00 | 123.00 | 106.00 | 54.00 |
| EPS in Rs | 25.66 | 28.75 | 20.18 | 20.79 | 8.71 | 5.21 | 7.44 | 9.87 | 7.50 | 6.44 | 5.82 | 3.01 |
| Dividend Payout % | 33.00 | 31.00 | 35.00 | 29.00 | 57.00 | 38.00 | 67.00 | 51.00 | 67.00 | 58.00 | 56.00 | 83.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 41.00 | 41.00 | 41.00 | 19.00 | 19.00 | 19.00 | 19.00 | 19.00 | 19.00 | 19.00 | 18.00 | 18.00 |
| Reserves | 3,390.00 | 3,024.00 | 2,569.00 | 1,311.00 | 998.00 | 866.00 | 763.00 | 854.00 | 774.00 | 738.00 | 612.00 | 438.00 |
| Borrowings | 810.00 | 381.00 | 243.00 | 662.00 | 554.00 | 510.00 | 520.00 | 348.00 | 376.00 | 221.00 | 365.00 | 398.00 |
| Other Liabilities | 4,325.00 | 4,803.00 | 3,758.00 | 3,455.00 | 2,741.00 | 2,154.00 | 2,137.00 | 2,130.00 | 2,068.00 | 1,672.00 | 1,530.00 | 1,322.00 |
| Total Liabilities | 8,567.00 | 8,249.00 | 6,611.00 | 5,447.00 | 4,313.00 | 3,549.00 | 3,439.00 | 3,351.00 | 3,236.00 | 2,650.00 | 2,525.00 | 2,175.00 |
| Fixed Assets | 1,697.00 | 1,536.00 | 1,165.00 | 859.00 | 433.00 | 384.00 | 444.00 | 400.00 | 392.00 | 356.00 | 259.00 | 257.00 |
| CWIP | 137.00 | 123.00 | 127.00 | 83.00 | 152.00 | 72.00 | 67.00 | 41.00 | 25.00 | 34.00 | 16.00 | 22.00 |
| Investments | 457.00 | 432.00 | 267.00 | 148.00 | 162.00 | 295.00 | 17.00 | 15.00 | 13.00 | 11.00 | 242.00 | 36.00 |
| Other Assets | 6,276.00 | 6,158.00 | 5,053.00 | 4,357.00 | 3,565.00 | 2,799.00 | 2,911.00 | 2,895.00 | 2,806.00 | 2,250.00 | 2,007.00 | 1,860.00 |
| Total Assets | 8,567.00 | 8,249.00 | 6,611.00 | 5,447.00 | 4,313.00 | 3,549.00 | 3,439.00 | 3,351.00 | 3,236.00 | 2,650.00 | 2,525.00 | 2,175.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 154.00 | 688.00 | 289.00 | 243.00 | 87.00 | 350.00 | 457.00 | 258.00 | 19.00 | 159.00 | 257.00 | 215.00 |
| Cash from Investing Activity | -354.00 | -463.00 | -524.00 | -178.00 | -67.00 | -238.00 | -88.00 | -65.00 | -88.00 | 69.00 | -48.00 | -49.00 |
| Cash from Financing Activity | 137.00 | -162.00 | 365.00 | -76.00 | -82.00 | -70.00 | -167.00 | -181.00 | 51.00 | -203.00 | -195.00 | -190.00 |
| Net Cash Flow | -63.00 | 63.00 | 130.00 | -11.00 | -62.00 | 42.00 | 202.00 | 13.00 | -18.00 | 25.00 | 13.00 | -24.00 |
| Free Cash Flow | -169.00 | 319.00 | -144.00 | 26.00 | -131.00 | 367.00 | 376.00 | 180.00 | -73.00 | 52.00 | 208.00 | 180.00 |
| CFO/OP % | 35.00 | 99.00 | 64.00 | 67.00 | 36.00 | 150.00 | 192.00 | 84.00 | 24.00 | 70.00 | 173.00 | 143.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 63.00 | 60.00 | 74.00 | 71.00 | 72.00 | 69.00 | 57.00 | 78.00 | 75.00 | 78.00 | 76.00 | 82.00 |
| Inventory Days | 131.00 | 131.00 | 106.00 | 127.00 | 125.00 | 143.00 | 116.00 | 119.00 | 152.00 | 97.00 | 104.00 | 79.00 |
| Days Payable | 177.00 | 209.00 | 198.00 | 223.00 | 223.00 | 260.00 | 211.00 | 211.00 | 228.00 | 191.00 | 211.00 | 146.00 |
| Cash Conversion Cycle | 16.00 | -18.00 | -18.00 | -25.00 | -26.00 | -48.00 | -38.00 | -14.00 | -2.00 | -16.00 | -31.00 | 15.00 |
| Working Capital Days | 20.00 | 16.00 | 20.00 | 2.00 | 6.00 | -1.00 | -13.00 | 8.00 | 8.00 | 6.00 | -17.00 | -12.00 |
| ROCE % | 21.00 | 26.00 | 26.00 | 25.00 | 20.00 | 13.00 | 19.00 | 25.00 | 20.00 | 20.00 | 20.00 | 15.00 |
Corporate Actions
31 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 17 Jul 2026 | 17 Jul 2026 | — | 8.50 | |
| Dividend | 18 Jul 2025 | 18 Jul 2025 | — | 9.00 | |
| Dividend | 19 Jul 2024 | — | — | 7.00 | |
| Dividend | 21 Jul 2023 | 21 Jul 2023 | — | 6.00 | |
| Bonus | 20 Jun 2023 | 20 Jun 2023 | 1:1 | — | |
| Dividend | 21 Jul 2022 | 22 Jul 2022 | — | 10.00 | |
| Dividend | 22 Jul 2021 | 23 Jul 2021 | — | 4.00 | |
| Dividend | 19 Mar 2020 | 20 Mar 2020 | — | 10.00 | |
| Dividend | 01 Aug 2019 | — | — | 10.00 | |
| Dividend | 26 Jul 2018 | — | — | 1.50 | NSE/BSE dividend mismatch: BSE/NSE=8.5; BSE/NSE=1.5 |
| Dividend | 26 Jul 2018 | — | — | 8.50 | NSE/BSE dividend mismatch: BSE/NSE=8.5; BSE/NSE=1.5 |
| Dividend | 26 Jul 2017 | — | — | 7.50 | |
| Other | 14 Jul 2016 | — | — | — | Annual General Meeting |
| Dividend | 22 Mar 2016 | 23 Mar 2016 | — | 6.50 | |
| Dividend | 10 Jul 2015 | — | — | 5.00 | |
| Dividend | 10 Jul 2014 | — | — | 4.00 | |
| Dividend | 05 Jul 2013 | — | — | 1.00 | |
| Dividend | 05 Jul 2013 | — | — | 2.00 | |
| Other | 05 Jul 2013 | — | — | — | Annual General Meeting / Dividend Rs.2/- Per Equity Share + Special Dividend Re.1/- Equity Share |
| Dividend | 16 Jul 2012 | — | — | 1.00 | |
| Dividend | 14 Jul 2011 | — | — | 7.00 | |
| Dividend | 12 Jul 2010 | — | — | 8.00 | |
| Dividend | 13 Jul 2009 | — | — | 7.00 | |
| Dividend | 14 Jul 2008 | — | — | 7.00 | |
| Dividend | 23 Jul 2007 | — | — | 0.60 | |
| Dividend | 21 Mar 2007 | 22 Mar 2007 | — | 2.40 | |
| Split | 20 Sep 2006 | 27 Sep 2006 | 10:2 | — | |
| Dividend | 17 Jul 2006 | — | — | 12.00 | |
| Dividend | 11 Jul 2005 | — | — | 10.00 | |
| Dividend | 19 Jun 2001 | — | — | 5.50 | |
| Dividend | 02 Aug 2000 | — | — | 0.50 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update7 Jul from care
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Rating update23 Sep 2025 from crisil
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Rating update8 Jul 2025 from care
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Rating update2 Dec 2024 from crisil
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Rating update27 Nov 2024 from care
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Rating update11 Jul 2024 from care
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