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India
Reported ownership for FY2027-Q2 as of 2026-09-30.
As of 06 Nov 2026, 03:30 pm
Blue Star is pivoting its focus from public infrastructure to the data centre sector. The company has set a target to secure Rs 8,000 crore in orders within this segment by 2030.
For the quarter ended September 30, 2026, consolidated revenue grew by approximately 21%, while operating profit increased by about 10.5%. Management noted that margins were under pressure during this period.
The stock closed at ₹1,575.0 with a market capitalization of ₹32,322.64 crore. Immediate resistance sits near ₹1,576.87, while support is observed around ₹1,557.33. The daily trend indicator remains bullish, though the weekly trend is bearish.
On November 3, 2026, the company granted 6,520 stock options to an employee under the ESOP 2024 scheme, exercisable at ₹2 per share. Additionally, the MedTech business was sold for ₹35.6 crore, with the transaction completed on August 31, 2026.
As of 06 Nov 2026, 03:30 pm
Recent drawdown or price variability is materially high and may lead to larger short-term outcomes.
Primary driver: Price remains materially below a previous peak
Trading activity was substantially higher than usual and the price closed lower.
This may reflect stronger-than-usual market participation; follow-through and relevant company or market news merit review.
The session opened materially below the previous close, indicating a sharp repricing at the open.
The price gap may increase short-term downside uncertainty and warrants review of the underlying context.
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
Latest complete financial results for Q2 FY27 and comparative quarterly trends.
| Metric | Q2 FY26 | Q1 FY27 | Q2 FY27(Latest) |
|---|---|---|---|
| Revenue From Operations | ₹2,422 crore | PEAK₹3,378 crore | ₹2,931 crore |
| Expenses | ₹2,299 crore | PEAK₹3,273 crore | ₹2,813 crore |
| Profit Before Exceptional Items And Tax | ₹133 crore | ₹126 crore | PEAK₹134 crore |
| Profit Before Tax | ₹133 crore | ₹135 crore | PEAK₹157 crore |
| Profit Loss For Period | ₹98.8 crore | ₹103 crore | PEAK₹124 crore |
| Basic Earnings Loss Per Share From Continuing And Discontinued Operations | ₹4.8 per share | ₹4.99 per share | PEAK₹6.03 per share |
Blue Star reported revenue from operations of ₹2,931 crore for the quarter ended 30 September 2026, up 21.0% year on year but down 13.2% from Q1 FY2026-27. Profit before tax rose 16.2% sequentially to ₹157 crore, while profit for the period increased 20.9% to ₹124 crore.
Cost of materials consumed was ₹2,068 crore in Q2, the largest reported expense component. Other costs included ₹127 crore for purchases of stock in trade, ₹252 crore in employee benefit expense and ₹68 crore in depreciation, depletion and amortisation.
Q2 combined 21.0% year-on-year revenue growth with a sequential decline in revenue and a rise in reported profit. The near-flat year-on-year profit before exceptional items and tax contrasts with the 17.6% increase in profit before tax, which included ₹23 crore of exceptional items. Operating cash flow was ₹414 crore, and current borrowings were lower at the September close than at March.
Disclosed bulk and block transactions involving Blue Star, shown for the latest 90 days.
Exchange disclosures and regulatory announcements for Blue Star.
Blue Star Limited filed the transcript of its Q2 and half-year FY27 earnings call, held after announcing results for the period ended September 30, 2026. Management reported consolidated Q2 revenue growth of around 21% and operating-profit growth of around 10.5%, with margins under pressure. It described a full-year FY27 Unitary Products segment margin goal of at least 6.5% as a task it was working toward, not assured guidance. The call also disclosed that the MedTech business was sold for Rs. 35.6 crore, with the transaction completed on August 31, 2026.
BLUE STAR LIMITED has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL
Record Date Updates |SUBJECT: Record Date Updates
Record Date Updates |SUBJECT: Record Date Updates
Blue Star Limited’s Nomination and Remuneration Committee approved a grant of 6,520 stock options to an eligible employee under the Blue Star Employees Stock Option Scheme 2024 on November 3, 2026. Each option represents one equity share of face value Rs 2, with an exercise price of Rs 2 per option. Options vest in four 25% instalments after 12, 24, 36 and 48 months from the grant date, subject to the performance criteria in the grant letter; vested options may be exercised within seven years from the grant date.
The Dubai Court of Appeal dismissed in its entirety W.J. Towell & Co LLC’s application to annul the arbitration award in favour of Blue Star Limited. The award had dismissed WJT’s entire claim of OMR 2,11,80,748 against the Company. Blue Star said WJT may appeal against the award and that it will make submissions seeking dismissal if an appeal is filed. The Company described this as a subsequent development that does not constitute a material update.
Blue Star Limited filed its Investors' Presentation for the second quarter and half year ended September 30, 2026, under Regulation 30(6) of the SEBI Listing Regulations. The presentation reports Q2FY27 revenue from operations of ₹2,930.95 cr (up 21.0% from ₹2,422.37 cr in Q2FY26), EBITDA excluding other income of ₹202.58 cr, and net profit of ₹123.91 cr (including a ₹23.02 cr exceptional gain on the sale of the MedTech business). For H1FY27, revenue from operations was ₹6,308.87 cr (up 16.7%) and net profit was ₹226.42 cr. The carried-forward order book stood at ₹7,229.22 cr as of the period end, versus ₹7,120.44 cr at 30 Sep 2026 as stated in the presentation. The company stated it completed the sale of its MedTech business on August 31, 2026.
Blue Star Limited filed an investor presentation with the NSE and BSE on October 30, 2026, covering consolidated financial results for the second quarter and half-year ended September 30, 2026 (Q2/H1 FY27). The filing reports Q2FY27 revenue from operations of ₹2,930.95 crore (up 21.0% YoY) and net profit of ₹1,23.91 crore, which includes an exceptional gain of ₹23.02 crore from the sale of its MedTech business completed on August 31, 2026. For H1FY27, revenue was ₹6,308.87 crore (up 16.7% YoY) with a carried-forward order book of ₹7,229.22 crore as of September 30, 2026.
Recent market and company developments associated with Blue Star.
PL Capital has issued 'Buy' ratings for Blue Star, CESC, Delhivery, and Ingersoll-Rand India, projecting upside potential of up to 56% in these mid- and small-cap stocks. The brokerage cites structural growth drivers including cooling demand, renewable energy expansion, logistics leadership, and compressor market strength as key factors supporting the positive outlook.
Equity markets will hold a special Muhurat trading session on Diwali, Sunday November 8, with a pre-opening session from 2:05 pm to 2:20 pm and a main equity session from 2:20 pm to 3:30 pm. The session marks the beginning of the Samvat 2083 financial year.
Blue Star is shifting its strategic focus from public infrastructure to the data centre sector, aiming to secure Rs 8,000 crore in orders by 2030. This pivot marks a significant change in the company's business trajectory as it targets growth within the digital infrastructure market.
Motilal Oswal has issued a 'Neutral' rating for Blue Star, setting a price target of Rs 1510. This recommendation reflects the broker's current valuation stance on the company.
Emkay Global Financial has issued a 'Buy' recommendation for Blue Star, setting a target price of Rs 2000. This analyst note suggests an upward outlook for the company's stock performance.
Brokerage firm Prabhudas Lilladher has issued an 'Accumulate' recommendation for Blue Star, setting a price target of Rs 1783.
Market participants reacted to the day's Q2 results with specific stocks identified as gainers and losers. Trent, IndiGo, Deepak Nitrite, and Milky Mist were among the gainers, while Coal India, Strides Pharma, Blue Star, CAMS, Equitas SFB, and Godrej Consumer were among the losers.
Multiple listed companies including Reliance Industries, Vedanta Power, InterGlobe Aviation, Suzlon Energy, Vedanta Oil and Gas, Blue Star, Trent, Indegene, and Deepak Nitrite reported or are set to report their Q2 FY27 financial results, showing mixed performance across sectors.
Comprehensive Section Breakdown for Blue Star
Strategic Vision: Indian company in the HVAC&R industry offering integrated solutions.
• Integrated business model encompassing manufacturing, EPC, and after-sales services.
• Extensive network of offices, channel partners, and stores across various countries.
• Over eight decades of industry presence and experience.
Revenue declined from ₹3,378 crore in Q1 FY2026-27 to ₹2,931 crore in Q2, and was below the ₹4,072 crore reported in Q4 FY2025-26. Expenses fell 14.1% sequentially to ₹2,813 crore, slightly faster than revenue; other expenses decreased 15.3% to ₹260 crore.
Year on year, revenue grew 21.0% from ₹2,422 crore in Q2 FY2025-26, while expenses rose 22.4% from ₹2,299 crore. The faster annual increase in expenses is relevant to the quarter’s underlying profitability: profit before exceptional items and tax was nearly unchanged year on year.
Profit before exceptional items and tax increased 6.4% from Q1 to ₹134 crore, compared with ₹133 crore in Q2 FY2025-26. Profit before tax rose to ₹157 crore from ₹135 crore in Q1 and ₹133 crore a year earlier. Exceptional items were ₹23 crore in Q2, versus ₹9 crore in Q1.
Profit for the period was ₹124 crore, up from ₹103 crore in Q1 and ₹99 crore in Q2 FY2025-26. Earnings per share from continuing operations were ₹6.03, compared with ₹4.99 in Q1 and ₹4.80 a year earlier. Tax expense was ₹33.4 crore, broadly unchanged from a year earlier.
Operating cash flow was ₹414 crore in Q2. Investing activities used ₹225 crore and financing activities used ₹378 crore; reported free cash flow was ₹190 crore.
At 30 September 2026, cash and cash equivalents stood at ₹181 crore, compared with ₹367 crore at 31 March 2026. Current investments increased to ₹525 crore from ₹435 crore, while other bank balances rose to ₹71 crore from ₹35 crore. Current borrowings declined to ₹484 crore from ₹627 crore over the same dates.
Total assets were ₹8,486 crore at 30 September 2026, compared with ₹8,576 crore at 31 March 2026. Equity attributable to owners of the parent increased to ₹3,487 crore from ₹3,431 crore. Property, plant and equipment stood at ₹1,652 crore, up from ₹1,361 crore.
Inventories increased to ₹2,275 crore from ₹2,166 crore, while current trade receivables declined to ₹1,675 crore from ₹2,140 crore. These movements point to differing changes in two important working-capital balances.
Category: B2B Services
Provides temperature control solutions including central air conditioning, packaged systems, VRF technology, and complete electro-mechanical contracting.
Category: Manufacturing
Focuses on products for climate control and freshness preservation, including residential air conditioners, commercial refrigeration, air purifiers, and air coolers.
Category: B2B Services
Acts as an exclusive distributor in India for international manufacturers of professional electronic equipment, services, and industrial products.
Core Thesis: The company integrates manufacturing, contracting, and after-sales services to provide end-to-end solutions.
• Manufacturing Operations: Seven advanced manufacturing units ensure consistent quality and innovation across product lines. • Engineering, Procurement, and Construction (EPC): Services cover design, material procurement, and construction management for comprehensive project delivery. • After-Sales Service Network: Supports a significant amount of HVAC&R equipment across India through its own infrastructure and service partners.