Blue Star Ltd logo

Blue Star Ltd

BLUESTARCO NSE

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. [1] [2]

AI Verdict: HOLD Confidence: 5%

Blue Star Ltd has delivered exceptional 5-year profit CAGR of 49% and consistent ROE of ~19%, but the stock trades at a steep PE of 66.5x and 10x book value with TTM profit declining 5%. At a market cap of Rs 34,554 Cr, the current valuation leaves limited margin of safety despite strong long-term fundamentals.

Key Fundamentals

SmallcapHousehold AppliancesConsumer Goods
Market Cap
₹34,169 Cr
Volatility
Moderate
P/E Ratio
63.8
EBITDA
₹892 Cr
Return on Equity
15.86%
Debt to Equity
0.11
Book Value
₹166.89
EPS
₹24.34
52W High
₹2,040
52W Low
₹1,450

Technical Indicators

Key Insights

Strengths

2
  • Company has delivered good profit growth of 49.4% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 33.0%

Weaknesses

1
  • Stock is trading at 9.90 times its book value

Growth Rate

Revenue Growth
2.98% ↘
Net Income Growth
-7.78% ↘
Cash Flow Change
137.91% ↗
ROE
21.50% ↘
ROCE
12.07% ↘
EBITDA Margin (Avg.)
-9.49% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
HOLD
Risk high

Blue Star Ltd has delivered exceptional 5-year profit CAGR of 49% and consistent ROE of ~19%, but the stock trades at a steep PE of 66.5x and 10x book value with TTM profit declining 5%. At a market cap of Rs 34,554 Cr, the current valuation leaves limited margin of safety despite strong long-term fundamentals.

Bull Case 8
  • Outstanding 5-year compounded profit growth of 49% CAGR demonstrates strong earnings momentum and operational leverage
  • Consistent ROE averaging 19% over 10 years signals disciplined capital allocation and durable competitive advantage
  • 5-year stock CAGR of 33% reflects sustained wealth creation and market confidence in the business model
  • 5-year compounded sales growth of 24% indicates robust demand tailwinds in Indian cooling and air conditioning market
  • Healthy dividend payout ratio of 33% shows shareholder-friendly management while retaining capital for growth
  • 48% of analysts rate the stock a Buy with total 12 buy recommendations out of 25, indicating majority positive consensus
  • 10-year stock CAGR of 23% demonstrates the company's ability to compound wealth across multiple market cycles
  • 3-year compounded sales growth of 16% confirms acceleration in revenue trajectory above the 10-year average of 13%
Bear Case 8
  • PE ratio of 66.5x is extremely elevated, pricing in several years of perfect execution with no room for disappointment
  • TTM profit growth has turned negative at -5%, signaling potential earnings deceleration after years of strong growth
  • Stock trades at 10x book value, making it one of the most expensive names in the consumer discretionary space
  • TTM sales growth has slowed sharply to just 4% compared to 3-year CAGR of 16%, indicating demand moderation
  • 20% of analysts rate the stock a Sell (5 out of 25 ratings), reflecting meaningful skepticism at current levels
  • Dividend yield of just 0.5% offers negligible income support for investors paying premium valuations
  • Last year ROE of 17% has declined from the 5-year average of 20%, suggesting return profile may be peaking
  • 1-year stock return of only 4% indicates the market has already begun re-rating the stock lower relative to earlier momentum

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

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Headwinds 2
  • Middle East war hurts operations Jun 4

    Blue Star faces challenges in the Middle East due to war conditions and cost increases, impacting international business segment.

  • Expensive valuation at 61.6 PE Jun 4

    Stock trades at PE ratio of 61.6 and PB ratio of 9.46, with experts noting current valuations are expensive despite long-term potential.

Positives 3
  • FY26 dividend of ₹8.5/share Jun 5

    Blue Star announced a final dividend of ₹8.5 per share for FY26 with record date fixed for July 17, 2026.

  • Experts recommend long-term accumulation Jun 4

    Stock near 50% retracement level at ₹1,612.80, with analysts viewing it as a good accumulation zone for patient investors with 123.77% three-year gains.

  • Stock surges 2.03% on momentum Jun 4

    Shares rose 2.03% to ₹1,612.80 with market cap of ₹33,243.80 crore, showing strong fundamentals for long-term growth.

Neutral 1
  • Multiple analyst meets in June Jun 9

    Blue Star scheduled analyst/investor meetings on June 15, 17, 22, and 29 across Mumbai and New York, including the Elara Consumer Conference.

TL;DR: Blue Star is rewarding shareholders with an ₹8.5/share dividend and actively engaging investors through multiple analyst meets in June. The stock has delivered strong 123.77% three-year returns but trades at elevated valuations (61.6 PE). Middle East headwinds from war conditions pose a risk to international operations. The trend is consolidating near support levels with experts viewing current prices as an accumulation opportunity for long-term investors.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
2,624
2,226
1,890
2,241
3,328
2,865
2,276
2,807
4,019
2,982
2,422
2,925
4,072
Expenses
2,445
2,081
1,768
2,086
3,086
2,628
2,127
2,599
3,740
2,784
2,240
2,705
3,746
Operating Profit
179
145
123
155
242
238
149
209
279
199
182
220
326
OPM %
7%
7%
6%
7%
7%
8%
7%
7%
7%
7%
8%
8%
8%
Other Income
179
9
13
13
13
24
19
21
24
16
10
-44
45
Interest
18
18
18
10
12
8
6
16
19
10
17
22
23
Depreciation
23
23
23
23
28
28
30
35
35
41
43
46
48
PBT
317
114
95
134
214
226
131
179
249
163
132
108
300
Tax %
29%
27%
26%
25%
25%
25%
27%
26%
22%
26%
25%
25%
24%
Net Profit
225
83
71
100
160
169
96
132
194
121
99
81
227
EPS in Rs
11.7
4.33
3.44
4.88
7.81
8.21
4.68
6.45
9.42
5.88
4.82
3.92
11.04
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
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
Expenses
3,014
3,631
4,162
4,372
4,887
5,077
4,024
5,717
7,478
9,017
11,089
11,472
Operating Profit
168
167
223
266
348
283
240
347
500
669
879
930
OPM %
5%
4%
5%
6%
7%
5%
6%
6%
6%
7%
7%
8%
Other Income
-34
66
34
22
26
40
62
36
195
44
83
24
Interest
49
43
38
29
48
29
65
46
55
58
49
72
Depreciation
43
57
61
64
75
88
92
86
85
98
128
179
PBT
43
132
159
196
251
206
145
251
555
557
785
703
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
EPS in Rs
3.01
5.82
6.44
7.5
9.87
7.44
5.21
8.71
20.79
20.18
28.75
25.66
Div. Payout %
83%
56%
58%
67%
51%
67%
38%
57%
29%
35%
31%
33%
Figures in ₹ Crores

Balance Sheet

  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
3,455
3,758
4,803
4,335
Total Liabilities
2,175
2,525
2,650
3,236
3,351
3,439
3,549
4,313
5,447
6,611
8,249
8,576
Fixed Assets
257
259
356
392
400
444
384
433
859
1,165
1,536
1,768
CWIP
22
16
34
25
41
67
72
152
83
127
123
65
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
4,357
5,053
6,158
6,285
Total Assets
2,175
2,525
2,650
3,236
3,351
3,439
3,549
4,313
5,447
6,611
8,249
8,576
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
215
257
159
19
258
457
350
87
243
289
688
154
Investing
-49
-48
69
-88
-65
-88
-238
-67
-178
-524
-463
-359
Financing
-190
-195
-203
51
-181
-167
-70
-82
-76
365
-162
137
Net Cash Flow
-24
13
25
-18
13
202
42
-62
-11
130
63
-68
Free Cash Flow
180
208
52
-73
180
376
367
-131
26
-144
322
-169
CFO/OP
143
173
70
24
84
192
150
36
67
64
99
35
Figures in ₹ Crores

Ratios

  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
127
106
131
83
Days Payable
146
211
191
228
211
211
260
223
223
198
209
113
Cash Conversion Cycle
15
-31
-16
-2
-14
-38
-48
-26
-25
-18
-18
33
Working Capital Days
-12
-17
6
8
8
-13
-1
6
2
20
16
33
ROCE %
15%
20%
20%
20%
25%
19%
13%
20%
25%
26%
26%
21%

Shareholding Pattern

As of Mar 2026
Promoters 36.49%
DIIs 27.79%
Public 16.56%
FIIs 13.80%
Others 5.36%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
38.76%
38.76%
38.76%
38.76%
38.78%
38.78%
38.78%
38.78%
38.78%
38.91%
36.49%
36.49%
36.49%
36.52%
36.46%
36.46%
36.47%
36.49%
36.49%
36.49%
36.49%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
15.93%
17.05%
18.06%
18.49%
16.94%
16.21%
16.05%
14.66%
13.80%
DIIs
20.85%
21.17%
21.90%
22.17%
22.18%
21.74%
22.80%
24.64%
25.13%
24.05%
24.72%
24.32%
24.69%
23.57%
22.85%
22.20%
23.14%
23.37%
25.32%
26.76%
27.79%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
24.92%
24.75%
24.09%
23.76%
23.49%
23.44%
21.74%
21.19%
21.15%
20.37%
18.61%
18.55%
17.89%
17.86%
17.40%
17.55%
17.96%
18.46%
16.91%
16.72%
16.56%
Others
15.47%
15.31%
15.25%
15.32%
15.54%
16.04%
16.68%
15.39%
14.94%
16.67%
20.17%
20.64%
5.00%
5.00%
5.24%
5.31%
5.48%
5.47%
5.23%
5.37%
5.36%
No. of Shareholders
54,876
62,365
55,741
53,488
56,504
58,306
48,634
48,109
56,940
57,706
59,386
65,465
72,949
83,167
94,641
1,06,776
1,29,555
1,48,932
1,17,734
1,11,215
1,11,852

Documents

Frequently Asked Questions about Blue Star Ltd

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. It is the largest after-sales service provider for air conditioning and commercial...
Where is Blue Star Ltd (BLUESTARCO) listed?
Blue Star Ltd is listed on the Indian stock exchanges. It is listed on NSE: BLUESTARCO and BSE: 500067. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Blue Star Ltd belong to?
Blue Star Ltd operates in the Consumer Discretionary sector within the Consumer Durables industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Blue Star Ltd?
Blue Star Ltd has a market capitalisation of approximately ₹34169.07 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Blue Star Ltd?
The Price-to-Earnings (PE) ratio of Blue Star Ltd is 63.80. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Blue Star Ltd?
Over the past 52 weeks, Blue Star Ltd has traded between a low of ₹1,450 and a high of ₹2,040. This range helps investors understand the stock's price volatility and recent trading levels.
Does Blue Star Ltd pay dividends?
Yes, Blue Star Ltd has a dividend yield of 0.51%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Blue Star Ltd?
Blue Star Ltd has a Return on Equity (ROE) of 15.86%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Blue Star Ltd on Tapetide?
On Tapetide, you can view Blue Star Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

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. [1] [2]

Website bluestarindia.com
CEO Mr. Vir S. Advani B.A., B.S.
Employees 3,576
Listed 2000-06-15
Face Value ₹ 2
Issued Size 20,56,14,788

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