Blue Star Limited has reported a revenue growth of 3.6% to ₹12,402 crores in the financial year 2026, despite facing multiple challenges. The company’s Profit Before Interest, Depreciation, Tax, and Amortisation (PBIDTA), excluding other income, also saw an increase of 6.2% to ₹930 crores. Net profit for the year stood at ₹527 crores.
The company’s Room Air Conditioners business faced setbacks during the summer of 2025 due to unseasonal rains, but demand picked up towards the end of the year, resulting in the highest quarterly revenue in Q4FY26. Growth in the Projects, Commercial Air Conditioning, and International Business segments helped offset external challenges.
In Q4FY26, Blue Star‘s revenue from operations increased by 1.3% to ₹4,072.06 crores compared to the same period in the previous year. The operating profit for the quarter rose by 16.8% to ₹326.25 crores, representing 8.0% of revenue.
The company recognised an incremental impact of ₹38.83 crores due to changes in Labour Codes, which was shown as an exceptional item. Finance costs for the quarter increased to ₹23.06 crores, while other income remained stable at ₹23.95 crores. Tax expenses for the quarter were ₹72.91 crores.
Blue Star’s net profit for Q4FY26 was ₹227.18 crores, marking a growth of 17.1% compared to Q4FY25. For the entire fiscal year, the company’s revenue from operations grew to ₹12,401.99 crores, with an operating profit of ₹930.41 crores.
The company also reported a decline in net profit for the year to ₹527.33 crores, attributed to lower other income and increased finance costs. The carried forward order book as of March 31, 2026, grew by 10.5% to ₹6,923.00 crores.
In terms of segment performance, revenue from the Electro-Mechanical Projects and Commercial Air Conditioning Systems grew by 12.8% to ₹6,762.80 crores. However, the Unitary Products segment saw a decline of 5.1% in revenue to ₹5,332.36 crores. The Professional Electronics and Industrial Systems business also experienced a revenue decline of 12.0%.
The Board of Directors has recommended a dividend of ₹8.5 per equity share for FY26, down from ₹9 per share in FY25.
Vir S. Advani, Chairman and Managing Director of Blue Star, expressed cautious optimism for FY27, citing potential challenges such as rising input costs and supply chain disruptions due to geopolitical tensions.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).