ALFA Finder| 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
- ₹1,563.80
- Market cap
- ₹32,154 Cr
- Revenue (annual)
- ₹12,402 Cr
- Net profit (annual)
- ₹527.7 Cr
- P/E (TTM)
- 60.2×Sector 44.3×
- Promoter holding
- 36.50%+0.00% QoQ
- FII holding
- 12.29%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 Employee Stock Options
Blue Star granted 6,520 stock options to an employee under its ESOP 2024 scheme. Options vest over four years at ₹2 per option.
- Execution
- Vesting in four 25% instalments at 12, 24, 36 and 48 months; exercisable within 7 years of grant
Blue Star Debt & Borrowing: ₹200 Cr
Blue Star Limited announced record dates for the maturity of listed Commercial Papers totaling Rs. 200 Crore. Redemption is scheduled across three tranches in November 2026.
- Value
- ₹200.0 Cr
Blue Star Legal & Regulatory
Blue Star's Dubai Court of Appeal dismissed WJT's application to annul the arbitration award in the company's favour. WJT may still appeal the award.
- Value
- ₹461.7 Cr
Blue Star Earnings Call Transcript: Key Takeaways
Management is prioritizing margin recovery over market share following a disappointing Q1. While RAC volumes surged, inability to fully pass on 18% raw material inflation continues to depress segment margins.
- Call
- Guides 25% growth
Blue Star Investor Presentation: Key Takeaways
Q2FY27 revenue ₹2,931 cr (+21%), PAT ₹124 cr (+25%, incl. ₹23 cr MedTech exit gain); EBITDA +10.5%, margins squeezed in Unitary and projects.
Blue Star Management Change
Blue Star Ltd appointed Mr Nithianand S and Mr Senthil Thangam as Senior Management Personnel effective November 1, 2026. This is a leadership change disclosed under Regulation 30.