---
title: "Blue Star Infotech Ltd (BLUESTINFO) — Share Price, Financials & Analysis"
symbol: "BLUESTINFO"
company: "Blue Star Infotech Ltd"
canonical: "https://tapetide.com/stocks/BLUESTINFO"
nse_symbol: "BLUESTINFO"
generated_at: "2026-10-13T11:54:08.579Z"
---

# Blue Star Infotech Ltd (BLUESTINFO)

Canonical page: https://tapetide.com/stocks/BLUESTINFO

## Company

- **NSE Symbol:** BLUESTINFO
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** bsil.com

## About

Blue Star Infotech Limited (BSIL) is an India-based technology consulting and services company. The Company focuses on select verticals and horizontals, including disruptive technologies to deliver software solutions to its global customers and enable them to be digital-ready.

## Latest Price

## Key Insights

### Strengths

- Company has reduced debt.
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 31.1%

### Weaknesses

- Company has a low return on equity of 13.1% over last 3 years.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 25% | 71% | 6% |
| revenue growth | 3% | 28% | 15% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2013 | Jun 2013 | Sep 2013 | Dec 2013 | Mar 2014 | Jun 2014 | Sep 2014 | Dec 2014 | Mar 2015 | Jun 2015 | Sep 2015 | Dec 2015 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 51.37 | 59.36 | 69.07 | 68.34 | 78.8 | 64.46 | 64.21 | 66.58 | 69.64 | 74.29 | 74.17 | 63.7 |
| Expenses | 51.62 | 54.75 | 65.32 | 64.01 | 70.36 | 60.71 | 57.48 | 60.15 | 63.58 | 66.09 | 66.73 | 58.91 |
| Operating Profit | -0.25 | 4.61 | 3.75 | 4.33 | 8.44 | 3.75 | 6.73 | 6.43 | 6.06 | 8.2 | 7.44 | 4.79 |
| OPM % | -0.49 | 7.77 | 5.43 | 6.34 | 10.71 | 5.82 | 10.48 | 9.66 | 8.7 | 11.04 | 10.03 | 7.52 |
| Other Income | 2.3 | 1.51 | 2.23 | 1.49 | 0.32 | 1.32 | 2.08 | 1.77 | 1.55 | 3.22 | 2.72 | -2.55 |
| Interest | 0.02 | 0 | 0 | 0.11 | 0.93 | 0.22 | 0.14 | 0.09 | 0.12 | 0.24 | 0.04 | 0.01 |
| Depreciation | 0.87 | 0.73 | 1.15 | 0.8 | 1.12 | 1.03 | 1.1 | 1.26 | 0.99 | 1.17 | 1.13 | 1.07 |
| Profit before tax | 1.16 | 5.39 | 4.83 | 4.91 | 6.71 | 3.82 | 7.57 | 6.85 | 6.5 | 10.01 | 8.99 | 1.16 |
| Tax % | 48.28 | 24.49 | 34.58 | 28.51 | 22.8 | 18.85 | 26.29 | 30.66 | 22.46 | 21.88 | 28.92 | 79.31 |
| Net Profit | 0.61 | 4.08 | 3.15 | 3.52 | 5.18 | 3.1 | 5.59 | 4.76 | 5.04 | 7.82 | 6.4 | 0.24 |
| EPS in Rs | 0.59 | 3.92 | 2.94 | 3.38 | 4.06 | 2.99 | 5.48 | 4.35 | 4.32 | 6.73 | 5.73 | 0.22 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 118 | 144 | 155 | 130 | 120 | 126 | 189 | 270 | 265 | 282 |
| Expenses | 106 | 138 | 138 | 119 | 114 | 125 | 185 | 250 | 241 | 255 |
| Operating Profit | 12 | 5 | 17 | 11 | 7 | 2 | 4 | 20 | 24 | 26 |
| OPM % | 10 | 3.8 | 11 | 9 | 6 | 1.5 | 2 | 8 | 9 | 9 |
| Other Income | 1 | 2 | 2 | 6 | 8 | 8 | 7 | 6 | 6 | 5 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 |
| Depreciation | 3 | 3 | 3 | 2 | 2 | 3 | 3 | 4 | 4 | 4 |
| Profit before tax | 11 | 5 | 17 | 15 | 12 | 7 | 7 | 22 | 25 | 27 |
| Tax % | 17 | -3 | 6 | 8 | 32 | 48 | 32 | 27 | 25 | — |
| Net Profit | 9 | 5 | 16 | 14 | 8 | 4 | 5 | 16 | 18 | 20 |
| EPS in Rs | 9.06 | 4.9 | 15.55 | 13.78 | 8.4 | 3.43 | 4.8 | 14.3 | 16.81 | 17 |
| Dividend Payout % | 44 | 51 | 32 | 36 | 36 | 58 | 42 | 28 | 24 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Sep 2015 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 11 | 11 |
| Reserves | 48 | 50 | 57 | 70 | 74 | 72 | 79 | 90 | 105 | 118 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 5 | 2 |
| Other Liabilities | 21 | 30 | 33 | 33 | 27 | 32 | 35 | 49 | 53 | 45 |
| Total Liabilities | 79 | 90 | 101 | 113 | 111 | 114 | 125 | 154 | 173 | 176 |
| Fixed Assets | 22 | 20 | 19 | 19 | 22 | 22 | 23 | 40 | 38 | 21 |
| CWIP | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 2 | 2 | 1 |
| Investments | 1 | 0 | 12 | 28 | 17 | 8 | 4 | 0 | 0 | 8 |
| Other Assets | 56 | 70 | 70 | 67 | 71 | 85 | 97 | 112 | 133 | 146 |
| Total Assets | 79 | 90 | 101 | 113 | 111 | 114 | 125 | 154 | 173 | 176 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -1 | 7 | 13 | 11 | 21 | 2 | 2 | 11 | 1 | 20 |
| Cash from Investing Activity | 7 | 0 | -1 | -13 | -17 | 5 | 10 | -4 | -4 | -4 |
| Cash from Financing Activity | -6 | -5 | -2 | -3 | -6 | -6 | 0 | -5 | 1 | -3 |
| Net Cash Flow | 0 | 3 | 9 | -5 | -1 | 0 | 12 | 2 | -2 | 13 |
| Free Cash Flow | -3 | 4 | 12 | 9 | 20 | -5 | 0 | 7 | -5 | 18 |
| CFO/OP | 95 | 86 | 355 | 86 | 214 | 107 | 310 | 103 | 53 | 116 |

### Ratios

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 108 | 111 | 87 | 79 | 81 | 80 | 82 | 86 | 82 | 91 |
| Inventory Days | — | — | — | — | — | — | — | — | 0 | — |
| Cash Conversion Cycle | 108 | 111 | 87 | 79 | 81 | 80 | 82 | 86 | 82 | 91 |
| Working Capital Days | 90 | 86 | 58 | 58 | 65 | 93 | 23 | 39 | 31 | 28 |
| ROCE % | — | 22 | 8 | 26 | 20 | 16 | 8 | 9 | 23 | 22 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0.13% | 0.16% | 0.13% | 0.02% |
| DIIs | 0.12% | 0.39% | 0.09% | 0.08% | 0% | 0.45% | 0% | 0% | 0% | 0% |
| Public | 24.93% | 24.64% | 24.94% | 24.96% | 25.02% | 24.58% | 24.9% | 24.87% | 24.9% | 25.01% |
| No. of Shareholders | 10905 | 10133 | 9588 | 9359 | 10630 | 25144 | 29204 | 29292 | 28291 | 28074 |

### Quarterly

| Category | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% |
| FIIs | 0.13% | 0.13% | 0.14% | 0.13% | 0.16% | 0.18% | 0.19% | 0.13% | 0.13% | 0.14% | 0.02% | 0.02% |
| Public | 24.9% | 24.9% | 24.89% | 24.9% | 24.87% | 24.85% | 24.83% | 24.9% | 24.9% | 24.89% | 25.01% | 25.01% |
| No. of Shareholders | 29204 | 29050 | 28152 | 28761 | 29292 | 28732 | 28037 | 28061 | 28291 | 28216 | 28026 | 28074 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 12 / 5 / 2

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 290.97 | Sell |
| EMA (10) | 289.79 | Buy |
| SMA (20) | 284.28 | Buy |
| EMA (20) | 285.24 | Buy |
| SMA (50) | 266.98 | Buy |
| EMA (50) | 269.38 | Buy |
| SMA (100) | 243.61 | Buy |
| EMA (100) | 254.5 | Buy |
| SMA (200) | 243.07 | Buy |
| EMA (200) | 241.84 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 57.26 | Neutral |
| MACD (12,26,9) | 7.11 | Sell |
| Stochastic (14,3,3) | 65.24 | Neutral |
| ADX (14) | 35.54 | Buy |
| Williams %R (14) | -42.02 | Neutral |
| ATR (14) | 10.49 | High Volatility |
| ROC (12) | 2.62 | Buy |
| Stoch RSI (14) | 10.44 | Buy |
| UO (7,14,28) | 57.77 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2026-03-07 | [Updates](https://nsearchives.nseindia.com/corporate/VARDHACRLC_07032026101547_VAL_DematReport_07032026.pdf) |
| 2026-02-05 | [Updates](https://nsearchives.nseindia.com/corporate/VARDHACRLC_05022026172308_VAL_DematReport_sd.pdf) |
| 2026-01-21 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/VARDHACRLC_21012026170252_VAL_NewsResults_sd.pdf) |
| 2026-01-20 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/VARDHACRLC_20012026115141_VAL_Final_Results_31122025_sd.pdf) |
| 2026-01-06 | [Updates](https://nsearchives.nseindia.com/corporate/VARDHACRLC_06012026101210_VAL_DematReport.pdf) |
| 2026-01-06 | [Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/VARDHACRLC_06012026101828_VAL_Reg74Certificate.pdf) |
| 2016-05-27 | [Record Date for Scheme of Amalgamation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=474BE4CF_4728_4419_A0BE_1170AC7CAE15_161600.pdf) |
| 2016-05-27 | [Record Date for Scheme of Amalgamation](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2016/5/474BE4CF_4728_4419_A0BE_1170AC7CAE15_161600.pdf) |
| 2016-05-21 | [Updates on Composite Scheme of Amalgamation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=62AB937B_0A5E_4CE0_BB8C_103DFAA69585_192539.pdf) |
| 2016-05-21 | [Updates on Composite Scheme of Amalgamation](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2016/5/62AB937B_0A5E_4CE0_BB8C_103DFAA69585_192539.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| 2025 | [Financial Year 2025](https://archives.nseindia.com/annual_reports/AR_28167_VARDHACRLC_2024_2025_A_3284280_02092025173823.pdf) |
| 2024 | [Financial Year 2024](https://archives.nseindia.com/annual_reports/AR_25259_VARDHACRLC_2023_2024_28082024222527.pdf) |
| 2023 | [Financial Year 2023](https://archives.nseindia.com/annual_reports/AR_23869_VARDHACRLC_2022_2023_08092023192602_09082023200027.zip) |
| 2022 | [Financial Year 2022](https://archives.nseindia.com/annual_reports/AR_21740_VARDHACRLC_2021_2022_08092022194814_09082022200012.zip) |
| 2021 | [Financial Year 2021](https://archives.nseindia.com/annual_reports/AR_19407_VARDHACRLC_2020_2021_04092021221624_09042021230003.zip) |
| 2020 | [Financial Year 2020](https://archives.nseindia.com/annual_reports/AR_17313_VARDHACRLC_2019_2020_04092020195521_04092020200007.zip) |
| 2019 | [Financial Year 2019](https://archives.nseindia.com/annual_reports/AR_15891_VARDHACRLC_2018_2019_06092019185958_06092019190020.zip) |
| 2018 | [Financial Year 2018](https://archives.nseindia.com/annual_reports/AR_13677_VARDHACRLC_2017_2018_27092018195523.zip) |
| 2017 | [Financial Year 2017](https://archives.nseindia.com/annual_reports/AR_11543_VARDHACRLC_2016_2017_24092017132955.zip) |
| 2016 | [Financial Year 2016](https://archives.nseindia.com/annual_reports/AR_9596_VARDHACRLC_2015_2016_09092016172336.zip) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2026-02-19 | Credit rating update — CRISIL |
| 2024-11-21 | Credit rating update — CRISIL |
| 2023-08-28 | Credit rating update — CRISIL |
| 2022-06-03 | Credit rating update — CRISIL |
| 2022-05-30 | Credit rating update — CRISIL |
| 2021-03-24 | Credit rating update — CRISIL |
| 2019-12-23 | Credit rating update — CRISIL |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-10-13T11:54:08.579Z.