| Management target | Revenue 25.0% FY27 |
|---|
| Revenue growth | Consolidated revenue grew 21% YoY, driven by strong RAC volumes. |
|---|---|
| Margins | UCP margins at 2.3% this quarter; targeting 6.5% for FY27. |
| Order book | Carried forward order book reached ₹7,229 Cr as of September 2026. |
| Demand visibility | High for data centers and RAC; soft for rural commercial refrigeration. |
| Management confidence | Balanced; cautious about past margin misses but optimistic for H2 recovery. |
Growth
Consolidated revenue grew 21%, led by a 42% spike in Q2 RAC primary sales volumes.
Outlook
Targeting 6.5% UCP margins for FY27 and ₹20,000 Cr total revenue by FY30.
Risks
Persistent raw material inflation and rising interest rates threatening consumer finance demand; rural demand softened by monsoons.
Last quarter's promises, checked
Partly delivered
- Guided hold RAC market share → Q2 RAC volume +42%, share undisclosed (= PARTIAL)
- Guided ₹3,000 Cr FY27 DC order inflow → Q1 ~₹1,500 Cr, Q2 unquantified (= PARTIAL)
- Guided ₹300–350 Cr FY27 capex → now ₹300 Cr, no H1 actual (= PARTIAL)
Missed
- Guided Q2 UCP margin 'marginal improvement' from Q1 2.9% → delivered 2.3% (= MISS)
- Guided 13% price pass-on → delivered ~5% (= MISS)
Earnings Call Transcript filed with NSE, NSE: BLUESTARCO. Summary written with AI assistance from the document.
Blue Star Ltd: key numbers
- Share price
- ₹1,627.90
- Market cap
- ₹33,472 Cr
- Revenue (annual)
- ₹12,402 Cr
- Net profit (annual)
- ₹527.7 Cr
- P/E (TTM)
- 62.7×Sector 40.5×
- 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 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.
Blue Star Results Update
Blue Star's Q2FY27 consolidated revenue rose 21% to Rs 2,930.95 crore, with operating profit up 10.5%. The press release highlights margin pressure from material cost increases.
Blue Star Q2 FY27 Results: Net Profit ₹123.9 Cr, Up 25.4% YoY
Blue Star Ltd reported revenue from operations of ₹2,931 Cr (+21.0% YoY) and net profit of ₹123.9 Cr (+25.4% YoY) for Q2 FY27.
- Key figure
- Net profit ₹123.9 Cr · +25.4% YoY
Blue Star Annual General Meeting
Blue Star Ltd declared the voting results of its postal ballot, announcing the appointment of Mr. Nikhilesh Panchal as an Independent Director of the company.
Blue Star Merger & Restructuring
Blue Star Ltd has initiated the voluntary strike-off of its step-down subsidiary, Blue Star Air Conditioning & Refrigeration (U) Limited, which has not commenced business operations.