Key Quantitative Figures - Consolidated
Income Statement (₹ in Crores)
Quarter Ended September 30, 2026:
- Revenue from operations: ₹2,930.95
- Other income: ₹15.79
- Total income: ₹2,946.74
- Total expenses: ₹2,813.13
- Profit before share of profit of joint ventures and tax: ₹133.61
- Share of profit of joint ventures: ₹0.67
- Profit before exceptional items and tax: ₹134.28
- Exceptional items: ₹23.02 (gain)
- Profit before tax: ₹157.30
- Tax expense: ₹33.39
- Profit for the period: ₹123.91
- Total comprehensive income: ₹125.36
Half Year Ended September 30, 2026:
- Revenue from operations: ₹6,308.87
- Other income: ₹36.55
- Total income: ₹6,345.42
- Profit for the period: ₹226.42
- Total comprehensive income: ₹226.14
Comparative Figures (Q2 FY26):
- Revenue from operations: ₹2,422.37 (Q2 FY26)
- Profit for the period: ₹98.78 (Q2 FY26)
Earnings Per Share
- Basic EPS: ₹6.03 (Q2 FY27), ₹4.80 (Q2 FY26)
- Diluted EPS: ₹6.03 (Q2 FY27), ₹4.80 (Q2 FY26)
Key Quantitative Figures - Standalone
Quarter Ended September 30, 2026:
- Revenue from operations: ₹2,750.11
- Profit before tax: ₹51.89
- Profit for the period: ₹38.24
- Basic EPS: ₹1.86
Half Year Ended September 30, 2026:
- Revenue from operations: ₹5,948.38
- Profit for the period: ₹107.60
Exceptional Items
During the half year ended September 30, 2026, the Group recognized aggregate exceptional income of ₹32.19 crore, comprising:
- Gain of ₹23.02 crore on the sale of the Medtech Business by Blue Star Engineering & Electronics Limited (wholly owned subsidiary)
- Profit of ₹9.17 crore recognized by Blue Star Limited on the sale of property
Segment Performance (Consolidated)
Revenue by Segment (Q2 FY27):
- Electro-mechanical projects and commercial air conditioning systems: ₹1,935.99 crore
- Unitary products: ₹897.66 crore
- Professional electronics and industrial systems: ₹97.30 crore
Segment Result - Profit Before Interest & Tax (Q2 FY27):
- Electro-mechanical projects: ₹133.15 crore
- Unitary products: ₹20.74 crore
- Professional electronics: ₹23.10 crore
Financial Position (Consolidated)
As at September 30, 2026:
- Total assets: ₹8,485.88 crore
- Total equity: ₹3,489.79 crore
- Current assets: ₹6,156.44 crore
- Current liabilities: ₹4,650.58 crore
- Inventories: ₹2,275.19 crore
- Trade receivables: ₹1,674.71 crore
- Cash and cash equivalents: ₹181.20 crore
Cash Flows (Consolidated - Half Year)
- Net cash from operating activities: ₹414.44 crore
- Net cash used in investing activities: ₹(224.58) crore
- Net cash used in financing activities: ₹(378.28) crore
- Net decrease in cash and cash equivalents: ₹(188.42) crore
Entities Included in Consolidation
Parent: Blue Star Limited
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
Auditor's Review
Deloitte Haskins & Sells LLP conducted a limited review of the financial results. Their report notes that they did not review the interim financial information of five subsidiaries included in the unaudited consolidated financial results, whose interim financial information reflects:
- Total assets of ₹437.47 crore as at September 30, 2026
- Total revenues of ₹329.92 crore and ₹565.09 crore for the quarter and half year ended September 30, 2026 respectively
- Total net profit after tax of ₹23.96 crore and ₹34.04 crore for the quarter and half year ended September 30, 2026 respectively
Additional Regulatory Information
Debt Equity Ratio: 0.14 (September 30, 2026)
Current Ratio: 1.32 (September 30, 2026)
Net Worth: ₹3,486.70 crore (September 30, 2026)
Operating Margin: 6.91% (Q2 FY27)
Net Profit Margin: 4.20% (Q2 FY27)
Dates and Approvals
- Board Meeting Date: October 29, 2026
- Audit Committee Review Date: October 28, 2026
- Limited Review Report Date: October 29, 2026
- Previous communication reference: Letter dated September 28, 2026
Digital Signature
The submission was digitally signed by Rajesh Digambar Parte, Company Secretary & Compliance Officer (Membership No.: A10700).