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Indian air-conditioning and commercial refrigeration company making ACs, cold-storage systems and MEP contracting.
Indian air-conditioning and commercial refrigeration company making ACs, cold-storage systems and MEP contracting.
Room air-conditioner sales are seasonal and go through dealers and online, so a hot summer lifts results, while its electro-mechanical project contracts bill by stage of completion and follow construction cycles. After-sales service of its installed base is a steadier income. The Advani family are its promoters.
In one line: India's Carrier/Lennox equivalent for room and commercial AC.
Moat: narrow (brand, distribution, installed base). Long-established brand and service network in commercial cooling, though room-AC market is competitive.
Headquarters: Mumbai, India · Founded: 1943 · Employees: 14,125
Size Blue Star (BLUESTARCO.NS) is an India Industrials company (Industrial Machinery) with a market value of $3.43B, the 259th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹1,575 on 6 Nov 2026.
Performance Over six months the shares fell 9.9%, against -16.8% for the median peer and 0.0% for the India market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue grew 8.8% over the last twelve months (peer median +12.0%); the operating margin is 5.3% (peer median 9.8%).
Valuation It trades at 56.0× forward earnings against a peer median of 26.1× (5th most expensive of 19).
Capital Return on invested capital runs 3.2 points above its cost of capital (12.0% WACC).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹133B | ₹124B | ₹119B | ₹96.3B | ₹79.5B |
| Revenue growth | — | +3% | +24% | +21% | — |
| Gross profit | ₹18.1B | ₹16.1B | ₹17.2B | ₹13.2B | ₹10.2B |
| EBITDA | ₹9.25B | ₹9.02B | ₹8.73B | ₹6.24B | ₹4.79B |
| Net income | ₹5.34B | ₹5.28B | ₹5.91B | ₹4.15B | ₹4.00B |
| Free cash flow | n/a | -₹2.18B | ₹2.96B | -₹2.06B | -₹1.75B |
| Capital expenditure | n/a | ₹3.29B | ₹3.72B | ₹4.41B | ₹3.60B |
| Total debt | ₹7.80B | ₹8.10B | ₹3.81B | ₹2.43B | ₹6.62B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Blue Star BLUESTARCO.NS | $3.43B | -10% | +9% | 5% | 56.0× | n/a |
| Voltas VOLTAS.NS | $3.84B | -19% | +4% | 4% | 50.1× | n/a |
| Amber Enterprises India AMBER.NS | $2.39B | -28% | +15% | 5% | 59.6× | n/a |
| LG Electronics India LGEINDIA.NS | $12.6B | +14% | +1% | 9% | 52.1× | 36.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BLUESTARCO.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.9% | -13.1% | 6th highest of 21 |
| 6-month return | -9.9% | -16.8% | 6th highest of 21 |
| Distance from 52-week high | -22.4% | -40.9% | 4th highest of 21 |
| Revenue growth (TTM) | +8.8% | +12.0% | 9th lowest of 21 |
| Operating margin | 5.3% | 9.8% | 5th lowest of 21 |
| Forward P/E | 56.0× | 26.1× | 5th most expensive of 19 |
| ROIC minus cost of capital | +3.2 pp | -0.7 pp | 7th highest of 21 |
| EV / EBITDA | 35.0× | 14.3× | 3rd most expensive of 10 |
| Net debt / EBITDA | 0.0× | -0.0× | 4th most indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Blue Star BLUESTARCO.NS | India | $3.43B | -10% | +9% | 5% | 56.0× | n/a | n/a |
| Guangdong Shenling Environmental Systems 301018.SZ | China | $3.42B | -27% | +45% | 5% | 64.8× | n/a | n/a |
| Jiangsu Lettall Electronic 603629.SS | China | $3.41B | -40% | +27% | 34% | n/a | 4.8% | +15.0% |
| Shenzhen Zhaowei Machinery & Electronics 003021.SZ | China | $3.45B | +6% | 0% | 9% | 124.4× | 46.0% | +7.5% |
| Kadant KAI | United States | $3.46B | -14% | +17% | 16% | 21.7× | 15.5% | +10.6% |
| Thermax THERMAX.NS | India | $3.46B | -34% | +5% | 6% | 43.6× | n/a | n/a |
| Anhui Yingliu Electromechanical 603308.SS | China | $3.50B | -58% | +38% | 13% | 42.0× | n/a | n/a |
| Moon Environment Technology 000811.SZ | China | $3.34B | -10% | +27% | 10% | 25.8× | 20.9% | +11.8% |
| THK 6481.T | Japan | $3.52B | -16% | +8% | 7% | 10.6× | 24.8% | +1.9% |
| Kaori Heat Treatment 8996.TW | Taiwan | $3.34B | -1% | +108% | 16% | 42.6× | 46.0% | +25.9% |
| SINOMACH Heavy Equipment 601399.SS | China | $3.33B | -28% | 0% | 4% | n/a | n/a | n/a |
| Danieli & C. Officine Meccaniche DAN.MI | Italy | $3.60B | -24% | -8% | -6% | 13.5× | n/a | n/a |
| Kunshan Kinglai Hygienic Materials 300260.SZ | China | $3.61B | -12% | +11% | 8% | 73.2× | n/a | n/a |
| Carel Industries CRL.MI | Italy | $3.24B | -11% | +17% | 15% | 30.5× | 23.3% | +13.7% |
| Haitian International 1882.HK | Hong Kong | $3.64B | -18% | +8% | 17% | 7.4× | -11.5% | +7.7% |
| Sumitomo Heavy Industries 6302.T | Japan | $3.64B | -10% | +9% | 6% | 13.0× | 6.3% | +4.3% |
| Estun Automation 002747.SZ | China | $3.65B | +30% | +8% | 4% | 104.6× | 48.2% | +14.3% |
| Zijin Longking 600388.SS | China | $3.70B | -6% | +13% | 11% | 17.4× | n/a | n/a |
| Tokyo Seimitsu 7729.T | Japan | $3.16B | -29% | +17% | 22% | 15.2× | 16.0% | +11.4% |
| Infore Environment Technology 000967.SZ | China | $3.14B | -53% | +20% | 8% | 26.5× | -0.8% | -0.7% |
| Takasago Thermal Engineering 1969.T | Japan | $3.13B | -21% | +2% | 11% | 10.8× | 3.8% | +9.0% |