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Blue Star

BLUESTARCO NSE
₹1,555.00 −17.50 (−1.11%)
P/E
62.78
View as Markdown
MCP
Close 4 Nov 2026 ₹1,555.00 −230.50 −12.9% 1Y
Start ₹1,785.50

Key Fundamentals

SmallcapConsumer DurablesConsumer Discretionary

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
21.20%
Debt to Equity
0.24
EPS (TTM)
₹24.77
Book Value
₹169.60
Market Cap
—
P/E (TTM)
62.78
P/B
9.17
ROE
17.20%
Dividend Yield
0.54%
EBITDA
₹992 Cr
52W High
₹2,029.60
52W Low
₹1,432.30
Day Range
₹1,551.00 – ₹1,609.80
Volume
3,86,731

Peer Comparison

Consumer Discretionary › Consumer Goods › Household Appliances

Blue Star peer comparison
LG Electronics
₹1,692.1062.93₹1,15,914 Cr14.980.00%24.70%32.30%₹25,575 Cr₹1,825 Cr
Voltas
₹1,064.8078.41₹35,544 Cr5.530.38%6.10%9.04%₹14,979 Cr₹442 Cr
Blue Star (this company)
₹1,555.0062.78₹32,857 Cr9.170.54%17.20%21.20%₹12,798 Cr₹510 Cr
Amber Enterprises
₹6,460.00236.98₹22,453 Cr5.210.00%5.99%10.30%₹12,625 Cr₹124 Cr
Crompton Greaves
₹203.82—₹13,185 Cr4.331.52%10.30%19.00%₹7,698 Cr−₹189 Cr
V-Guard Industries
₹292.9535.04₹12,603 Cr5.000.52%14.40%18.40%₹6,310 Cr₹364 Cr
Whirlpool
₹826.1541.77₹10,427 Cr2.520.61%7.71%10.70%₹8,329 Cr₹252 Cr
Median 7 companies₹1,064.8062.86₹22,453 Cr5.210.52%10.30%18.40%₹12,625 Cr₹364 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

37 Weak

Data confidence 100/100

Category scores

Quality
44
Weak
Returns, margins, earnings quality 22% weight
Valuation
31
Poor
Cheap vs sector & own history 24% weight
Growth
22
Poor
Sales & profit trajectory 9% weight
Financial Health
42
Weak
Solvency, leverage, coverage 9% weight
Momentum
23
Poor
Trend strength, vol-adjusted 12% weight
Ownership
55
Good
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company has delivered good profit growth of 49.6% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 33.0%

Weaknesses

1
  • Stock is trading at 9.05 times its book value

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1072
OscillatorsNeutral171
Moving AveragesStrong Bearish901

Key readings

RSI (14)
49.01
Neutral
MACD (12,26,9)
12.36
Bullish
SMA (50)
1,533.70
Bullish
SMA (200)
1,674.78
Bearish

As of

Analyst Rating

Based on 27 analysts
BUY52%

14 of 27 analysts rate Buy, 8 Hold, 5 Sell.

As of

BUY
14
52%
HOLD
8
30%
SELL
5
19%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+12.56%
5Y+23.80%
3Y+15.85%
1Y+3.63%
TTM+5.90%

Net profit

Net profit growth by window
10Y+17.40%
5Y+39.15%
3Y+9.54%
1Y−10.83%
TTM−6.08%

Operating cash flow

Operating cash flow growth by window
10Y−4.99%
5Y−15.14%
3Y−14.57%
1Y−77.62%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+3.12 pp
5Y+1.89 pp
3Y+1.25 pp
1Y+0.18 pp
TTM+0.14 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹4,385 Cr
Mar 2018₹4,639 Cr
Mar 2019₹5,235 Cr
Mar 2020₹5,360 Cr
Mar 2021₹4,264 Cr
Mar 2022₹6,064 Cr
Mar 2023₹7,977 Cr
Mar 2024₹9,685 Cr
Mar 2025₹11,968 Cr
Mar 2026₹12,402 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹123 Cr
Mar 2018₹144 Cr
Mar 2019₹190 Cr
Mar 2020₹144 Cr
Mar 2021₹101 Cr
Mar 2022₹168 Cr
Mar 2023₹401 Cr
Mar 2024₹414 Cr
Mar 2025₹591 Cr
Mar 2026₹527 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹237 Cr −2.3% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 28 Oct 2026
AI opinion · based on fundamentals
Risk high

Blue Star Ltd trades at ₹1,598 as of 2026-10-28 with a market cap of ₹32,857 Cr, commanding a premium valuation at 64.51x TTM P/E and 9.58x P/B. The company has delivered strong 5-year profit CAGR of ~50% and maintains a low debt-to-equity ratio of 0.24, but recent growth has decelerated with TTM sales growth at 6% and TTM profit growth at -1%.

Bull Case 8
  • Exceptional 5-year compounded profit growth of 50% CAGR, significantly outpacing the 10-year average of 18%, reflecting strong operating leverage and market share gains
  • Conservative balance sheet with debt-to-equity of just 0.24, providing financial flexibility for capacity expansion and working capital needs
  • Healthy ROCE of 20.9% indicates efficient capital deployment and strong competitive positioning in the cooling and electrical segments
  • Consistent ROE track record averaging 19-20% over 3, 5, and 10-year periods, demonstrating durable return generation for shareholders
  • 5-year compounded sales CAGR of 24% reflects robust demand tailwinds from India's rising cooling penetration and urbanisation trends
  • Healthy dividend payout ratio of 33.0% with a current yield of 0.56%, showing management's commitment to returning capital while retaining enough for growth
  • Stock is currently 21.3% below its 52-week high of ₹2,029.60, which may offer a more favourable entry relative to recent peak valuations
  • 10-year stock CAGR of 18% demonstrates long-term wealth creation through multiple market and business cycles
Bear Case 7
  • TTM P/E of 64.51x is significantly elevated, demanding sustained high growth to justify the current price of ₹1,598; any further earnings deceleration could compress multiples sharply
  • TTM compounded profit growth has turned negative at -1%, a stark reversal from the 27% three-year and 50% five-year CAGR, signalling potential earnings momentum loss
  • TTM sales growth has decelerated to 6% from the 3-year CAGR of 16% and 5-year CAGR of 24%, raising questions about demand sustainability
  • 1-year stock CAGR of -20% indicates the market has already begun repricing the stock lower amid the growth slowdown
  • Last year ROE dipped to 17% from the 3-year average of 19% and 5-year average of 20%, suggesting declining return efficiency
  • Dividend yield of just 0.56% offers minimal income cushion against the premium valuation, making total returns heavily dependent on capital appreciation
  • EPS TTM of ₹24.77 relative to a share price of ₹1,598 implies the stock is priced for a significant earnings ramp that recent TTM trends do not yet support

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Limited newsflow for Blue Star in this period. The company secured a favourable court ruling in its Dubai dispute with joint-venture partner WJT, removing near-term legal overhang though a further appeal remains possible. Board governance is stable with a newly approved independent director. With no operational or earnings-related updates, the outlook hinges on broader demand trends in the consumer goods and cooling segments.

Positives 1
  • Independent Director appointment approved Oct 16

    Shareholders approved Nikhilesh Panchal as Independent Director via postal ballot with 81.78% votes in favour, reinforcing board governance.

Neutral 1
  • Dubai court rules in Blue Star's favour Oct 31

    Dubai Court of Appeal dismissed WJT's annulment application against the ICC arbitral award, which had rejected WJT's entire claim of OMR 2,11,80,748. WJT (48% stakeholder in Blue Star Oman Electro Mechanical) may file a further appeal.

Quarterly Results

₹ Cr
BLUESTARCO quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
2,226
1,890
2,241
3,328
2,865
2,276
2,807
4,019
2,982
2,422
2,925
4,072
3,378
2,931
Expenses
2,081
1,768
2,086
3,086
2,628
2,127
2,599
3,740
2,784
2,240
2,705
3,746
3,203
2,728
Operating Profit
145
123
155
242
238
149
209
279
199
182
220
326
175
203
OPM %
7%
6%
7%
7%
8%
7%
7%
7%
7%
8%
8%
8%
5%
7%
Other Income
9
13
13
12.39
24
19
21
24
16
10
−44
45
30
39
Interest
18
18
10
12
8
6
16
19
10
17
22
23
13
17
Depreciation
23
23
23
28
28
30
35
35
41
43
46
48
57
68
PBT
114
95
134
214
226
131
180
249
163
133
108
300
135
157
Tax %
27%
26%
25%
25%
25%
27%
26%
22%
26%
25%
25%
24%
24%
21%
Net Profit
83
71
100
160
169
96
132
194
121
99
81
227
103
124
EPS (₹)
4.33
3.44
4.88
7.81
8.21
4.68
6.45
9.42
5.88
4.82
3.92
11.04
4.99
—

Sep 2026: from the results filed on 29 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
BLUESTARCO profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
3,182
3,798
4,385
4,639
5,235
5,360
4,264
6,064
7,977
9,685
11,968
12,402
12,798
Expenses
3,014
3,631
4,162
4,372
4,887
5,077
4,024
5,717
7,478
9,017
11,089
11,469
11,894
Operating Profit
168
167
223
266
348
283
240
347
500
669
879
933
903
OPM %
5%
4.4%
5%
6%
7%
5%
6%
6%
6%
7%
7%
8%
7%
Other Income
−34
66
34
22
26
40
62
36
195
44
83
21
41
Interest
49
43
38
29
48
29
65
46
55
58
49
72
76
Depreciation
43
57
61
64
75
88
92
86
85
98
128
179
194
PBT
43
132
159
196
251
206
145
251
555
557
786
703
674
Tax %
−18%
21%
23%
25%
17%
32%
32%
33%
28%
26%
25%
25%
—
Net Profit
54
106
123
144
190
144
101
168
401
414
591
527
509
EPS (₹)
3.01
5.82
6.44
7.5
9.87
7.44
5.21
8.71
20.79
20.18
28.75
25.66
24.77
Div. Payout %
83%
56%
58%
67%
51%
67%
38%
57%
29%
35%
31%
33%
—

Balance Sheet

₹ Cr
BLUESTARCO balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
18
18
19
19
19
19
19
19
19
41
41
41
Reserves
438
612
738
774
854
763
866
998
1,311
2,569
3,024
3,390
Borrowings
398
365
221
376
348
520
510
554
662
243
381
810
Other Liabilities
1,322
1,530
1,672
2,068
2,130
2,137
2,154
2,741
3,406
3,758
4,803
4,325
Total Liabilities
2,175
2,525
2,650
3,236
3,351
3,439
3,549
4,313
5,399
6,611
8,249
8,567
Fixed Assets
257
259
356
392
400
444
384
433
859
1,165
1,536
1,697
CWIP
22
16
34
25
41
67
72
152
83
127
123
137
Investments
36
242
11
13
15
17
295
162
148
267
432
457
Other Assets
1,860
2,007
2,250
2,806
2,895
2,911
2,799
3,565
4,309
5,053
6,158
6,276
Total Assets
2,175
2,525
2,650
3,236
3,351
3,439
3,549
4,313
5,399
6,611
8,249
8,567

Cash Flow

₹ Cr
BLUESTARCO cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
215
257
159
19
258
450
350
87
247
289
688
154
Investing
−49
−48
69
−88
−65
−81
−238
−67
−179
−524
−463
−354
Financing
−190
−195
−203
51
−181
−167
−70
−82
−91
365
−162
137
Net Cash Flow
−24
13
25
−18
13
202
42
−62
−22
130
63
−63
Free Cash Flow
180
208
52
−73
180
369
367
−131
65
−144
319
−169
CFO/OP
143
173
70
24
84
189
150
36
68
64
99
35

Ratios

BLUESTARCO financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
82
76
78
75
78
57
69
72
71
74
60
63
Inventory Days
79
104
97
152
119
116
143
125
124
106
131
131
Days Payable
146
211
191
228
211
211
260
223
217
198
209
177
Cash Conversion Cycle
15
−31
−16
−2
−14
−38
−48
−26
−22
−18
−18
16
Working Capital Days
−12
−17
6
8
8
−13
−1
6
4
20
16
20
ROCE %
15%
20%
20%
20%
25%
19%
13%
20%
24%
26%
26%
21%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Blue Star insights

68 extracted metrics across FY11–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 36.50%
  • DIIs 29.11%
  • Public 15.93%
  • FIIs 12.29%
  • Others 6.16%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Blue Star

What does Blue Star Ltd do?
Blue star manufacturers air purifiers, air coolers, water purifiers, cold storage and speciality products. The Company offers turnkey solutions in MEP (Mechanical, Electrical, Plumbing, and Fire-fighting) Projects.
Where is Blue Star Ltd (BLUESTARCO) listed?
Blue Star Ltd trades as BLUESTARCO on the NSE and under code 500067 on the BSE.
Which sector does Blue Star Ltd belong to?
Blue Star Ltd is classified under the Consumer Goods sector, in the Household Appliances industry.
What is the PE ratio of Blue Star Ltd?
Blue Star Ltd trades at a PE ratio of 62.78 as of 4 Nov 2026, on earnings per share of ₹24.77, against a book value of ₹169.6 per share.
What is the 52-week high and low of Blue Star Ltd?
Over the last 52 weeks Blue Star Ltd has traded between ₹1,432.3 and ₹2,029.6 as of 4 Nov 2026.
Does Blue Star Ltd pay dividends?
Blue Star Ltd has a dividend yield of 0.54%.
What is the Return on Equity (ROE) of Blue Star Ltd?
Blue Star Ltd reported a return on equity of 17.20%. Its debt-to-equity ratio is 0.24.

Company Information

Blue star manufacturers air purifiers, air coolers, water purifiers, cold storage and speciality products. The Company offers turnkey solutions in MEP (Mechanical, Electrical, Plumbing, and Fire-fighting) Projects. It is the largest after-sales service provider for air conditioning and commercial refrigeration products in the country.

Website bluestarindia.com
CEO Mr. Vir S. Advani B.A., B.S.
Employees 3,576
Listed 15 Jun 2000
Face Value ₹2

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