Key Business Transacted
1. Financial Results Approval
The Board of Directors approved and took on record the Un-audited Standalone and Consolidated Financial Results of the Company for the First Quarter ended June 30, 2026. The approval includes the Limited Review Reports as required under Regulation 33(3) of the Listing Regulations.
2. Appointment of Independent Director
Based on the recommendations of the Nomination and Remuneration Committee, the Board approved the appointment of Mr. Nikhilesh Panchal (DIN: 00041080) as an Additional Director designated as an Independent Director. The appointment is for a term of five consecutive years commencing from August 14, 2026, subject to the approval of the Shareholders of the Company through Postal Ballot.
Meeting Details
The meeting commenced at 10:00 a.m. and concluded at 2:15 p.m.
Financial Results Summary
Consolidated Financial Results (Q1 FY27)
- Revenue from Operations: ₹3,398.68 crore
- Total Income: ₹3,398.68 crore
- Total Expenses: ₹3,273.06 crore
- Cost of materials consumed: ₹2,141.33 crore
- Purchase of stock-in-trade: ₹492.96 crore
- Changes in inventories: ₹11.88 crore
- Employee benefits expenses: ₹249.41 crore
- Finance cost: ₹13.47 crore
- Depreciation and amortization: ₹56.62 crore
- Other expenses: ₹307.39 crore
- Profit before share of profit of joint ventures and tax: ₹125.62 crore
- Share of (loss) of joint ventures: ₹(0.20) crore
- Profit before exceptional items and tax: ₹125.42 crore
- Exceptional items (profit on sale of property): ₹9.17 crore
- Profit before tax: ₹134.59 crore
- Tax expense: ₹32.08 crore
- Current tax: ₹29.03 crore
- Deferred tax: ₹3.05 crore
- Profit for the period: ₹102.51 crore
- Other comprehensive loss: ₹(1.73) crore
- Total comprehensive income for the period: ₹100.78 crore
- Profit attributable to owners of the Company: ₹102.50 crore
- Earnings per share (EPS):
- Basic: ₹4.99
- Diluted: ₹4.99
- Paid-up equity share capital: ₹41.12 crore (face value ₹2 per share)
Standalone Financial Results (Q1 FY27)
- Revenue from Operations: ₹3,198.27 crore
- Other income: ₹16.12 crore
- Total Income: ₹3,214.39 crore
- Total Expenses: ₹3,130.36 crore
- Profit before exceptional items and tax: ₹84.03 crore
- Exceptional items (profit on sale of property): ₹9.17 crore
- Profit before tax: ₹93.20 crore
- Tax expense: ₹23.84 crore
- Current tax: ₹19.11 crore
- Deferred tax: ₹4.73 crore
- Profit for the period: ₹69.36 crore
- Other comprehensive loss: ₹(0.73) crore
- Total comprehensive income for the period: ₹68.63 crore
- Earnings per share (EPS):
- Basic: ₹3.37
- Diluted: ₹3.37
Key Financial Ratios (Consolidated)
- Debt equity ratio: 0.00
- Debt service coverage ratio (DSCR): 29.23
- Interest service coverage ratio (ISCR): 29.23
- Net worth: ₹3,533.72 crore
- Current ratio: 1.36
- Operating margin: 5.18%
- Net profit margin: 3.02%
- Debtors turnover (days): 52.55
- Inventory turnover (days): 72.95
Segment-wise Performance (Consolidated)
- Electro-mechanical projects and commercial air conditioning systems: Revenue ₹1,625.05 crore, PBIT ₹110.22 crore
- Unitary products: Revenue ₹1,689.31 crore, PBIT ₹49.69 crore
- Professional electronics and industrial systems: Revenue ₹63.56 crore, PBIT ₹9.57 crore
- Total Segment Revenue: ₹3,377.92 crore
- Total Segment Result: ₹169.48 crore
Subsidiaries and Joint Ventures
The consolidated results include:
Subsidiaries: Blue Star Engineering & Electronics Limited, Blue Star Climatech Limited, Blue Star Qatar W.L.L., Blue Star International FZCO, Blue Star MEA Airconditioning LLC, BSL AC&R (Singapore) Pte. Ltd., Blue Star North America Inc., Blue Star Europe B.V., Blue Star Innovation Japan LLC, Blue Star Air Conditioning & Refrigeration (U) Limited
Joint Ventures: Blue Star M & E Engineering Sdn Bhd, Blue Star Oman Electro-Mechanical Company LLC
Five subsidiaries located outside India with total revenues of ₹235.17 crore and net profit of ₹10.08 crore were reviewed by other auditors. One subsidiary with nil financial impact was not reviewed by its auditor.
Director Appointment Details
Mr. Nikhilesh Panchal: Practicing lawyer with over 35 years of experience, registered Advocate with Bar Council of Maharashtra & Goa, registered Solicitor with Bombay Incorporated Law Society and Law Society of England & Wales, registered Patent and Trademark Attorney, holds master's degree in law. Currently partner at Khaitan & Co since 2005, previously partner at Little & Co. Expertise in Corporate & Commercial laws, M&A, capital market transactions, foreign collaborations, joint ventures, technology transfers, IP matters, and FEMA procedures. Not related to any other Director and not debarred from holding director office.