Blue Star Limited — PPTs, 06-11-2025: Investor Presentation

Blue Star posted a strong Q2 FY26, with revenue up 6.4% YoY to ₹2422 Cr and EBITDA surging 22.8% to ₹183 Cr, boosting margins to 7.6%. The Electro-Mechanical Projects segment holds a robust ₹4,840 Cr order book, fueled by strong demand from Buildings, Data Centers, and Factories, while Commercial AC also performed well.

Room AC faced a revenue dip, impacted by extended monsoons and temporary demand delays post-GST reforms. Industrial Solutions maintained solid growth, and Data Security performed steadily. International business is gaining momentum, with growth prospects tied to the India-US trade deal.

Looking forward, Blue Star is preparing for new Room AC product launches for Summer 2026. The company anticipates robust H2FY26 demand in Commercial Refrigeration, driven by recent GST cuts, and is expanding its energy-efficient offerings and Tier 2/3 market presence. For the first half (H1 FY26), revenue rose 5.1% to ₹5405 Cr, though EBITDA for H1 saw a decline to ₹298 Cr.