Blue Star logo

Blue Star share price

NSE: BLUESTARCOBSE: 500067Consumer DurablesMid Cap

Blue Star Limited · Face value ₹2 · Listed Sep 1969 on BSE, Jun 2000 on NSE
Last close ₹1,526.00up ₹21.50 (1.43%)BSE ₹1,517.20

Share price at the NSE close on 27 Oct 2026. Previous close ₹1,504.50.

27 Oct: open ₹1,500.00, high ₹1,540.30, low ₹1,495.00

52-week range of traded prices to 27 Oct 2026
₹1,432.30Low, 9 Sep 2026₹2,030.40High, 27 Oct 2025
Market cap
₹31,377 Cr237th largest listed
P/E
61.62
P/B
9.14
Dividend yield
0.56%
ROE
15.7%
ROCE
17.5%
Debt to equity
0.18
Volume, NSE
2,50,52527.6% delivered

Blue Star share price chart

Daily closes since Jan 2007, adjusted for splits and bonuses

−22.9%over a year · Nifty Consumer Durables −12.1% · Nifty 500 −8.8%

Results20-session average 4,76,049 shares a day, 40.3% delivered

About Blue Star

Blue Star Limited is a Mumbai-based maker of air conditioners and refrigeration equipment and a contractor for mechanical, electrical, plumbing and fire-fighting (MEP) work.12 It sells room air conditioners to households, and builds MEP systems for buildings, factories, data centres and infrastructure across India.345 It also exports to the Middle East, Africa and Asia, and makes air conditioning and heating equipment for other brands in North America and Europe.67

Its business runs as 3 segments: electro-mechanical projects and commercial air conditioning systems; unitary products, covering room air conditioners, commercial refrigeration and air coolers; and professional electronics and industrial systems, run by its wholly owned subsidiary Blue Star Engineering & Electronics.89 Its products include inverter, fixed-speed and window room air conditioners, among them the Iconia premium range, along with deep freezers, storage water coolers, visi coolers, cold rooms, air purifiers and water purifiers.101112 With its subsidiaries it runs 7 manufacturing facilities in India, at Ahmedabad, Dadra, Himachal Pradesh, Sri City and Wada, and R&D centres at Thane, Bhiwandi, Wada and Dadra; it sells through more than 4,000 channel partners.131415

Mohan T Advani founded Blue Star in 1943; it listed on the Bombay Stock Exchange in 1969 and began selling home air conditioners in 2011.11617 Vir S Advani is Chairman and Managing Director and B Thiagarajan is Managing Director; Ashok M Advani and Suneel M Advani are Chairmen Emeriti.1819

Blue Star key points

Results

  • In the quarter to Jun 2026, consolidated revenue rose 13.3% to ₹3,378 crore from ₹2,982 crore, while profit before tax and one-off items fell 23.7% to ₹125.6 crore from ₹164.6 crore.2021
  • In the year to Mar 2026, consolidated revenue rose 3.62% to ₹12,401.99 crore from ₹11,967.65 crore, and net profit after one-off items fell 10.81% to ₹527.33 crore from ₹591.28 crore.2223
  • The group had a net cash position (cash held above its borrowings) of ₹900 crore at the end of June 2026, against ₹371 crore a year earlier.24

Market position

  • Blue Star's market share by product, year to Mar 202625
    Itemyear to Mar 2026
    Ducted air conditioning systems53%
    Scroll chillers (machines chilling water for cooling)48%
    Screw chillers20%
    VRF systems (an outdoor unit serving many indoor units)19%
  • The company stated in its annual report for the year to Mar 2026 that it targets a 15% share of India's room air conditioner market, against about 14.25% by value; on 7 Aug 2026 it said the share would be marginally lower than 14%.2627
  • On its earnings call of 7 Aug 2026, the company said it has a 30% share of data centre MEP projects and expects 10% to 12% of the data centre chiller market.28

Business segments

  • Revenue by segment, year to Mar 20262930
    Itemyear to Mar 2026year to Mar 2025
    Electro-mechanical projects and commercial air conditioning₹6,762.80 crore₹5,997.99 crore
    Unitary products₹5,332.36 crore₹5,621.11 crore
    Professional electronics and industrial systems₹306.83 crore₹348.55 crore
  • Revenue by segment, quarter to Jun 20263132
    Itemquarter to Jun 2026quarter to Jun 2025
    Electro-mechanical projects and commercial air conditioning₹1,625 crore₹1,412 crore
    Unitary products₹1,689.3 crore₹1,499 crore
    Professional electronics and industrial systems₹63.6 crore₹70.4 crore
  • In the quarter to Jun 2026, the unitary products segment result (the segment's profit) fell to ₹50 crore, 2.9% of revenue, from ₹87 crore, 5.8%. Commercial refrigeration sales fell about 15%, mainly in deep freezers and cold rooms.3334

International business

  • Revenue of overseas subsidiaries, year to Mar 20263536
    Itemyear to Mar 2026year to Mar 2025
    Blue Star North America₹619.50 crore₹333.10 crore
    Blue Star International FZCO, UAE, with its subsidiaries₹293.80 crore₹331.48 crore
    Blue Star Europe₹57.28 crore₹7.73 crore
  • On its earnings call of 7 Aug 2026, the company put its exports at about $80 million to $85 million in the year to Mar 2026, against about $55 million to $60 million a year earlier.37

Order book

  • The carried-forward order book (orders received but not yet delivered) was ₹7,764 crore at the end of June 2026, up 13.5% from ₹6,843 crore a year earlier.38
  • In the quarter to Jun 2026, orders booked by the projects and commercial air conditioning segment rose 24% to ₹2,435 crore from ₹1,963 crore; data centre MEP projects brought about ₹1,500 crore of orders.3940

Expansion and capital spending

  • On its earnings call of 7 Aug 2026, the company put capital spending (including R&D and digital) at about ₹60 crore to ₹70 crore for the quarter to Jun 2026 and growth-related spending at about ₹300 crore to ₹350 crore a year, if plans hold.4142

What the company expects

  • On its earnings call of 7 Aug 2026, the company said it expects about ₹3,000 crore of data centre MEP orders in the year to Mar 2027 and about ₹4,500 crore in the year to Mar 2028.4344
  • On its earnings call of 7 Aug 2026, the company said it expects data centre MEP projects to bring close to 20% of its revenue, about ₹4,000 crore, by the year to Mar 2029.45
  • On its earnings call of 7 Aug 2026, the company said it expects an operating margin of over 6.5% for unitary products and 6.5% to 7% for the electro-mechanical projects and commercial air conditioning segment in the year to Mar 2027.46
  • On its earnings call of 7 Aug 2026, the company said it aims to generate additional export revenue of $100 million a year by the year to Mar 2028, over the year to Mar 2026 level.4748

Recent events

  • Blue Star Engineering & Electronics sold its MedTech business, which supplies and services high-end medical diagnostic equipment, to Cyrix Healthcare for up to ₹40 crore, effective 1 Sep 2026.4950
  • On 23 Jul 2026, an International Chamber of Commerce arbitrator dismissed all claims against the company by its Oman partner W J Towell & Co, of OMR 2,11,80,748 (about ₹461.74 crore). An award on interest and costs was reserved; the documents give no outcome.5152
  • On 19 May 2026, a board committee approved buying the remaining 51% of Blue Star Qatar from Al Malki Trading & Contracting for at most ₹50 lakh, subject to Indian and Qatari approvals, to make it wholly owned; the documents give no completion.5354

Last updated

All 54 sources, each with its page
  1. 1. Annual report, 13 Jul 2026, page 260
  2. 2. Annual report, 13 Jul 2026, page 4
  3. 3. Annual report, 13 Jul 2026, page 196
  4. 4. Annual report, 13 Jul 2026, page 130
  5. 5. Annual report, 13 Jul 2026, page 42
  6. 6. Annual report, 13 Jul 2026, page 43
  7. 7. Annual report, 13 Jul 2026, page 133
  8. 8. Annual report, 13 Jul 2026, page 131
  9. 9. Annual report, 13 Jul 2026, page 46
  10. 10. Annual report, 13 Jul 2026, page 189
  11. 11. Annual report, 13 Jul 2026, page 190
  12. 12. Annual report, 13 Jul 2026, page 130
  13. 13. Investor presentation, 7 Aug 2026, page 6
  14. 14. Annual report, 13 Jul 2026, page 43
  15. 15. Annual report, 13 Jul 2026, page 66
  16. 16. Investor presentation, 7 Aug 2026, page 5
  17. 17. Annual report, 13 Jul 2026, page 42
  18. 18. Annual report, 13 Jul 2026, page 24
  19. 19. Annual report, 13 Jul 2026, page 32
  20. 20. Earnings call, 7 Aug 2026, page 6
  21. 21. Earnings call, 7 Aug 2026, page 5
  22. 22. Annual report, 13 Jul 2026, page 130
  23. 23. Annual report, 13 Jul 2026, page 131
  24. 24. Earnings call, 7 Aug 2026, page 6
  25. 25. Annual report, 13 Jul 2026, page 189
  26. 26. Annual report, 13 Jul 2026, page 192
  27. 27. Earnings call, 7 Aug 2026, page 4
  28. 28. Earnings call, 7 Aug 2026, page 14
  29. 29. Annual report, 13 Jul 2026, page 131
  30. 30. Annual report, 13 Jul 2026, page 132
  31. 31. Earnings call, 7 Aug 2026, page 6
  32. 32. Earnings call, 7 Aug 2026, page 7
  33. 33. Earnings call, 7 Aug 2026, page 7
  34. 34. Earnings call, 7 Aug 2026, page 4
  35. 35. Annual report, 13 Jul 2026, page 133
  36. 36. Annual report, 13 Jul 2026, page 134
  37. 37. Earnings call, 7 Aug 2026, page 19
  38. 38. Earnings call, 7 Aug 2026, page 6
  39. 39. Earnings call, 7 Aug 2026, page 6
  40. 40. Earnings call, 7 Aug 2026, page 5
  41. 41. Earnings call, 7 Aug 2026, page 14
  42. 42. Earnings call, 7 Aug 2026, page 15
  43. 43. Earnings call, 7 Aug 2026, page 5
  44. 44. Earnings call, 7 Aug 2026, page 10
  45. 45. Earnings call, 7 Aug 2026, page 5
  46. 46. Earnings call, 7 Aug 2026, page 4
  47. 47. Earnings call, 7 Aug 2026, page 6
  48. 48. Earnings call, 7 Aug 2026, page 19
  49. 49. Exchange filing, 2 Sep 2026, page 1
  50. 50. Exchange filing, 14 Aug 2026, page 5
  51. 51. Exchange filing, 23 Jul 2026, page 1
  52. 52. Exchange filing, 23 Jul 2026, page 2
  53. 53. Exchange filing, 19 May 2026, page 1
  54. 54. Exchange filing, 19 May 2026, page 2

Results

Consolidated; ₹ crore.Blue Star quarterly results

Revenue growth, 12 months
+5.9%
Net profit growth, 12 months
−6.3%

Quarter to Jun 2026, against the quarter before

Revenue
₹3,378 Crdown 17.05%
Net profit
₹103 Crdown 54.88%
Net margin
3.0%

Revenue by quarter

₹2,276 CrSep 24₹2,807 CrDec 24₹4,019 CrMar 25₹2,982 CrJun 25₹2,422 CrSep 25₹2,925 CrDec 25₹4,072 CrMar 26₹3,378 CrJun 26
Peak revenue ₹4,072 Cr, quarter to Mar 2026; lowest ₹2,276 Cr, quarter to Sep 2024

Net profit by quarter, a loss in red

₹96 CrSep 24₹132 CrDec 24₹194 CrMar 25₹121 CrJun 25₹99 CrSep 25₹81 CrDec 25₹227 CrMar 26₹103 CrJun 26
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue2,2762,8074,0192,9822,4222,9254,0723,378
Net profit961321941219981227103
Net margin4.2%4.7%4.8%4.1%4.1%2.8%5.6%3.0%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit

  • Electro - mechanical projects and commercial air conditioning systems₹6,763 Crup 12.75%54.5%
  • Unitary products₹5,332 Crdown 5.14%43.0%
  • Professional electronics and industrial systems₹307 Crdown 11.97%2.5%
The pill is the change in revenue on the year before; the share is of all the businesses together.

Valuation

Today, against the company's own history. Its history crosses a change of basis in the accounts in the year to Mar 2018: days before it are of the company before the change.Blue Star PE ratio and valuation

Price to earnings

At or below today's level on 55% of 2,478 trading days over the last 10 years.

LowestHighest
Its median59.77Industry median31.74
Price to book

At or below today's level on 34% of 1,958 trading days since Nov 2018.

LowestHighest
Its median10.28Industry median3.91
Dividend yield

At or below today's level on 42% of 2,474 trading days over the last 10 years.

LowestHighest
Its median0.69%Industry median0.58%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year−24.1%−10.8%−15.5%0.5%
3 years+33.2%+7.2%+23.7%0.5%
5 years+28.8%+37.5%−6.9%0.7%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 3 years includes one-off items (exceptional items and the result of businesses sold or closed) of more than a tenth of the profit of the year to Mar 2023.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.Blue Star shareholding pattern

Shareholding by group

  • Promoters36.50%
  • Foreign institutions12.29%
  • Indian institutions29.11%
  • Individuals and others22.08%
  • Employee trusts0.01%
Holder
Vistra ITCL (India) Limited as a Trustee of Ashok M Advani Family Private TrustPromoter11.63%
Vistra ITCL (India) Limited as a Trustee of SMA Family Private TrustPromoter7.57%
SBI Life Insurance Co. LtdInsurance companies2.46%
Vistra ITCL (India) Limited as a Trustee of NSA Family TrustPromoter2.24%
Vistra ITCL (India) Limited as a Trustee of SNA Family TrustPromoter2.24%
Rohina LullaPromoter2.12%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters unchanged, foreign institutions −0.46 pts, Indian institutions +0.86 pts, mutual funds +0.03 pts.

Mutual fund holdings

185 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 74 of the 108 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 2 more funds filed their first portfolio on record, holding it.All 185 funds holding Blue Star

Bought for the first time
4
Bought again
3
Added
57
Cut
51
Held unchanged
68
Sold out
5
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 28 Oct 2025.Blue Star insider trading

No promoter, director, key manager or employee bought or sold on the market.

  • Promoters and promoter group: no market trade
  • Others: no market trade
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

Blue Star competitors and peers

Household Appliances, 26 listed companies, priced on 27 Oct 2026. The table lists the 8 companies closest to Blue Star in market cap.Consumer durables companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
LG Electronics India logoLG Electronics IndiaLGEINDIA1,13,88462.4114.86––23.8%28.4%0.00%
Voltas logoVoltasVOLTAS31,30869.704.91+3.8%−30.6%7.0%8.8%0.42%
Amber Enterprises India logoAmber Enterprises IndiaAMBER21,266221.414.86+14.6%−65.1%2.9%7.5%0.00%
Crompton Greaves Consumer Electricals logoCrompton Greaves Consumer ElectricalsCROMPTON12,637–4.17+12.1%−137.2%−5.5%20.4%1.53%
V-Guard Industries logoV-Guard IndustriesVGUARD11,46231.434.83+13.4%+26.4%16.3%20.4%0.57%
Whirlpool of India logoWhirlpool of IndiaWHIRLPOOL10,74742.832.58+6.0%−30.5%6.2%4.8%0.59%
TTK Prestige logoTTK PrestigeTTKPRESTIG7,40338.453.74+16.2%+100.1%10.0%11.5%1.39%
Eureka Forbes logoEureka ForbesEUREKAFORB6,11633.801.33+12.5%+5.8%4.0%5.4%0.00%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.Blue Star dividend history

Dividend per share, ₹, restated for later splits and bonuses

3.8Mar 175Mar 185Mar 195Mar 202Mar 215Mar 226Mar 237Mar 249Mar 258.5Mar 26
Highest ₹9.00 a share, year to Mar 2025.
Ex-dateTypePer share
17 Jul 2026Final₹8.50
18 Jul 2025Final₹9.00
19 Jul 2024Final₹7.00
21 Jul 2023Final₹6.00
21 Jul 2022Final₹10.00
22 Jul 2021Final₹4.00
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Blue Star announcements

Blue Star share price by year

Each calendar year to 2025.Blue Star share price history

YearClose at year endChangeHighest closeLowest close
20251,730.70−19.1%2,337.551,532.30
20242,139.15+125.9%2,156.65935.65
2023947.00+57.9%1,024.70591.88
2022599.78+18.6%638.33432.25
2021505.93+26.3%539.33367.08
2020400.55−4.7%429.93220.25
2019420.43+35.0%433.35281.23
2018311.45−23.8%410.75255.65
2017408.95+71.7%411.13240.85
2016238.18+21.0%287.43156.43
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 26 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
26 Oct 20261,499.001,522.201,480.101,504.501,506.812,23,75830.0%
23 Oct 20261,573.001,573.001,487.501,499.001,507.783,56,34441.6%
22 Oct 20261,535.601,575.901,520.501,564.501,554.593,51,64343.1%
21 Oct 20261,566.701,577.001,538.501,554.001,554.931,37,81745.3%
19 Oct 20261,559.801,577.601,545.501,571.201,560.301,94,24647.7%
16 Oct 20261,592.001,592.001,556.601,567.601,570.462,49,67861.5%
15 Oct 20261,601.201,617.001,582.801,592.001,597.593,64,31556.8%
14 Oct 20261,585.001,624.001,569.101,614.001,606.134,60,81540.3%
13 Oct 20261,569.901,594.001,553.901,594.001,575.292,33,41341.2%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Bonus share history

Ex-dateEventPrice factorWhat happened
20 Jun 2023Bonus0.5000Holders received 1 bonus share for every 1 held.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout.

Company details