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Blue Star Limited Revenue Jumps to ₹4,072 Crore

May 6, 2026 3 mins read Firehose Gupta

Blue Star Limited — Quarter ended March 31, 2026 (FY ended March 31, 2026)

Sr. No. PARTICULARS QUARTER ENDED (UNAUDITED) (Refer Note 2) 31.03.2026 QUARTER ENDED (UNAUDITED) 31.12.2025 QUARTER ENDED (UNAUDITED) (Refer Note 2) 31.03.2025 YEAR ENDED (AUDITED) 31.03.2026 YEAR ENDED (AUDITED) 31.03.2025
1 Income
(a) Revenue from operations 4,072.06 2,925.31 4,018.96 12,401.99 11,967.65
(b) Other income 23.95 11.88 23.99 61.91 75.00
Total income 4,096.01 2,937.19 4,042.95 12,463.90 12,042.65
2 Expenses
(a) Cost of materials consumed (including direct project and service cost) 2,478.96 2,118.94 2,602.33 8,410.89 7,943.80
(b) Purchase of stock-in-trade 293.23 426.23 452.29 1,235.35 1,411.83
(c) Changes in inventories of finished goods, stock-in-trade and work-in-progress 425.29 (287.76) 35.02 (104.15) (281.29)
(d) Employee benefits expense 235.20 223.36 266.88 918.13 918.87
(e) Finance cost 23.06 22.09 18.75 72.14 48.80
(f) Depreciation and amortisation expense 48.23 45.86 35.42 178.79 128.37
(g) Other Expenses 313.12 223.81 383.04 1,011.37 1,098.52
Total expenses 3,817.09 2,772.53 3,793.73 11,722.52 11,268.90
3 Profit before share of profit of joint ventures, exceptional items and tax (1-2) 278.92 164.66 249.22 741.38 773.75
4 Share of profit / (loss) of joint ventures 3.65 (0.69) (0.40) 0.56 (1.33)
5 Profit before exceptional items and tax (3+4) 282.57 163.97 248.82 741.94 772.42
6 Exceptional items (refer note 4) 17.52 (56.35) (38.83) 12.51
7 Profit before tax (5+6) 300.09 107.62 248.82 703.11 784.93
8 Tax expense
(a) Current tax 48.33 30.88 56.06 157.82 188.87
(b) Deferred tax charge / (credit) 24.58 (3.81) (1.24) 17.96 4.78
Total tax expense 72.91 27.07 54.82 175.78 193.65
9 Profit for the period / year, (7-8) 227.18 80.55 194.00 527.33 591.28
10 Other comprehensive income / (loss)
(a) Items that will not be reclassified to profit / (loss) (2.43) 0.47 1.83 (2.13) (2.08)
Income tax relating to items that will not be reclassified to profit / (loss) 0.64 (0.10) (0.48) 0.60 0.52
(b) Items that will be reclassified to profit / (loss) 7.49 1.84 0.94 17.77 5.12
Income tax relating to items that will be reclassified to profit / (loss)
Other comprehensive income / (loss) 5.70 2.21 2.29 16.24 3.56
11 Total comprehensive income for the period / year (9+10) 232.88 82.76 196.29 543.57 594.84
12 Profits for the period attributable to :
– Owners of the Company 227.05 80.66 193.64 527.68 591.24
– Non-controlling interest 0.13 (0.11) 0.36 (0.35) 0.04
13 Other comprehensive income / (loss) for the period / year attributable to
– Owners of the Company 5.56 2.18 2.29 15.98 3.50
– Non-controlling interest 0.14 0.03 0.26 0.06
14 Total comprehensive income for the period / year attributable to :
– Owners of the Company 232.61 82.84 195.93 543.66 594.74
– Non-controlling interest 0.27 (0.08) 0.36 (0.09) 0.10
15 Paid up equity share capital (face value of the share – ₹ 2/- each) 41.12 41.12 41.12 41.12 41.12
Sr. No. PARTICULARS QUARTER ENDED (UNAUDITED) (Refer Note 2) 31.03.2026 QUARTER ENDED (UNAUDITED) 31.12.2025 QUARTER ENDED (UNAUDITED) (Refer Note 2) 31.03.2025 YEAR ENDED (AUDITED) 31.03.2026 YEAR ENDED (AUDITED) 31.03.2025
1 Debt equity ratio 0.18 0.27 0.07 0.18 0.07
(Total debt {non-current borrowings + current borrowings} / equity)
2 Debt service coverage ratio (DSCR) (not annualised for quarters) 19.33 12.41 27.12 19.09 33.37
(Earnings before interest and tax / (interest expenses + principal repayments made during the period for long term loans))
3 Interest service coverage ratio (ISCR) (not annualised for quarters) 19.33 12.41 27.12 19.09 33.37
(Earnings before interest and tax / interest expenses)
4 Capital redemption reserve (₹ in Crores) 2.34 2.34 2.34 2.34 2.34
5 Net worth (₹ in Crores) 3,430.81 3,195.34 3,064.42 3,430.81 3,064.42
(As per section 2(57) of the Companies Act, 2013)
6 Current ratio 1.31 1.27 1.28 1.31 1.28
(Current assets / current liabilities)
7 Bad debts to account receivable ratio 0.01 0.01 0.01 0.01
(Bad debts / average gross account receivable)
8 Current liability ratio 0.95 0.94 0.95 0.95 0.95
(Current liabilities / total liabilities)
9 Total debt to total assets 0.07 0.10 0.02 0.07 0.02
(Total debt [non-current borrowings + current borrowings] / total assets)
10 Debtors turnover (no. of days) 42.69 49.73 38.48 60.32 59.65
(Average debtors for the period / turnover for the period X number of days in reporting period)
11 Inventory turnover (no. of days) 67.93 103.72 61.74 82.53 71.52
(Average inventory for the period / cost of goods sold for the period X number of days in reporting period)
12 Operating margin (%) 8.01% 7.55% 6.95% 7.50% 7.32%
(Operating EBITDA [profit before tax – other income + finance charges + depreciation] / revenue from operations X 100)
13 Net profit margin (%) 5.55% 2.74% 4.80% 4.23% 4.91%
(Profit / (loss) for the period / total income X 100)
Sr. No. PARTICULARS QUARTER ENDED (UNAUDITED) QUARTER ENDED (UNAUDITED) QUARTER ENDED (UNAUDITED) YEAR ENDED (AUDITED) YEAR ENDED (AUDITED)
31.03.2026 31.12.2025 31.03.2025 31.03.2026 31.03.2025
I SEGMENT REVENUE
(a) Electro – mechanical projects and commercial air conditioning systems 1,989.92 1,696.21 1,968.17 6,762.80 5,997.99
(b) Unitary products 1,984.96 1,154.22 1,960.23 5,332.36 5,621.11
(c) Professional electronics and industrial systems 97.18 74.88 90.56 306.83 348.55
TOTAL SEGMENT REVENUE 4,072.06 2,925.31 4,018.96 12,401.99 11,967.65
II SEGMENT RESULT
PROFIT BEFORE INTEREST & TAX
(a) Electro – mechanical projects and commercial air conditioning systems 128.49 114.66 149.91 501.91 490.88
(b) Unitary products 206.98 97.65 164.53 434.82 471.26
(c) Professional electronics and industrial systems 14.27 6.83 8.75 34.89 29.72
TOTAL SEGMENT RESULT 349.74 219.14 323.19 971.62 991.86
Less: i) Interest and other financial charges 23.06 22.09 18.75 72.14 48.80
ii) Un-allocable expenditure 47.76 32.39 55.22 158.10 169.31
TOTAL PROFIT BEFORE SHARE OF PROFIT/(LOSS) OF JOINT VENTURE, TAXATION AND EXCEPTIONAL ITEM 278.92 164.66 249.22 741.38 773.75
Share in profit/(loss) of joint ventures 3.65 (0.69) (0.40) 0.56 (1.33)
Exceptional items 17.52 (56.35) (38.83) 12.51
PROFIT BEFORE TAX 300.09 107.62 248.82 703.11 784.93
III SEGMENT ASSETS
(a) Electro – mechanical projects and commercial air conditioning systems 3,690.38 3,705.05 3,731.01 3,690.38 3,731.01
(b) Unitary products 3,169.17 3,354.49 2,902.25 3,169.17 2,902.25
(c) Professional electronics and industrial systems 154.34 157.