| Management target | Revenue 18.0% FY27 |
|---|
| Revenue growth | 13.3% YoY revenue growth driven by electro-mechanical projects. |
|---|---|
| Margins | Structural contraction in margins due to input cost and discounting. |
| Order book | Record carried-forward order book of ₹7,764 crores, up 13.5%. |
| Demand visibility | Strong visibility in Data Centers; tepid outlook for commercial refrigeration. |
| Management confidence | Balanced but cautious regarding Middle East conflict and exchange rates. |
Growth
Revenue grew 13.3% YoY, but PBT fell 23.7%, indicating very poor quality of earnings.
Outlook
Management targets 6.5% segment 2 margins for FY27 and 10% revenue growth in commercial AC.
Risks
Continued inability to pass on 8% input cost escalation; high competitive intensity in room ACs.
Last quarter's promises, checked
Delivered
- Guided 13% price hike needed → delivered 13% realized by May (= BEAT)
- Guided 15% revenue from Data Centers → delivered ~15% (= BEAT)
- Guided 1.6m unit capacity (Sri City/Himachal) → delivered 1.6m capacity (= BEAT)
Partly delivered
- Guided 8-10% Commercial AC growth → delivered ~10% revenue growth (= PARTIAL)
Missed
- Guided 8-8.5% Segment 2 margins → delivered 6.5% (= MISS)
- Guided 17.5m unit industry size FY27 → current call implies lower base (= MISS)
- Guided 15% market share goal → delivered 14.25% (= MISS)
Earnings Call Transcript filed with BSE, NSE: BLUESTARCO. Summary written with AI assistance from the document.
Blue Star Ltd: key numbers
- Share price
- ₹1,538.00
- Market cap
- ₹31,624 Cr
- Revenue (annual)
- ₹12,402 Cr
- Net profit (annual)
- ₹527.7 Cr
- P/E (TTM)
- 62.1×Sector 45.6×
- Promoter holding
- 36.50%+0.01% QoQ
- FII holding
- 12.75%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Blue Star Ltd
All →Blue Star Annual General Meeting
Blue Star Limited has issued a Postal Ballot notice seeking shareholder approval for the appointment of Mr. Nikhilesh Panchal as an Independent Director.
Blue Star Legal & Regulatory
Blue Star Limited informed that W.J. Towell & Co LLC has filed an annulment petition in the Dubai Court of Appeal challenging a prior favourable arbitration award.
Blue Star Debt & Borrowing: ₹100 Cr
Blue Star Limited has fixed September 18, 2026, as the record date for its listed Commercial Paper. The maturity amount for this security is Rs. 100 Crores.
- Value
- ₹100.0 Cr
Blue Star Merger & Restructuring Worth ₹40 Cr
Blue Star Limited completed the slump sale of its MedTech division, housed under subsidiary Blue Star E&E, to Cyrix Healthcare for Rs 40 Crore.
- Value
- ₹40.00 Cr
Blue Star Merger & Restructuring Worth ₹40 Cr
Blue Star’s subsidiary, Blue Star E&E, signed a Business Transfer Agreement to sell its MedTech division to Cyrix Healthcare for up to ₹40 Crore.
- Value
- ₹40.00 Cr
Blue Star Investor Presentation: Key Takeaways
Blue Star reported Q1FY27 revenue growth of 13% YoY to ₹3378 cr, but EBITDA and PBT declined significantly due to rising input costs and weak commercial refrigeration demand.