Consumer stocks · Mid cap · NSE
Blue Star Limited, established in 1943, is an integrated provider of air conditioning, refrigeration, and MEP solutions. With 7 manufacturing facilities in India and 4000+ channel partners, it serves residential, commercial, industrial, and infrastructure markets. The company has a presence in 18+ countries and plans to strengthen its footprint in USA and Europe.
SMA20 +3.6% / mo · MACD + · sector -3.7pp vs Nifty 500 (3M)
Latest mapped FPI equity flow was not positive. View sector evidence
Adjusted completed-session prices, rebased to 100
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is mixed.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Revenue +13.3% · PAT -14.9% YoY
Price trend and sector-relative-strength timing.
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Financial-only signal; management claim evidence is not sufficient yet.
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
PAT -15% YoY · margin compression · Rev +13% YoY
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹3,378 Cr | +13.3% | -17.0% |
| EBITDA | ₹175 Cr | -12.1% | -46.3% |
| Operating margin | 5.0% | -200 bps | -300 bps |
| PAT | ₹103 Cr | -14.9% | -54.6% |
| PAT margin | 3.0% | -101 bps | -252 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Updated 20/10/2026
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Signals are conflicting — long-term trend down. RSI 53. Wait for confirmation.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
U-Score 44 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Top U-Score contributors and drags from the latest stored fundamentals.
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
12 stored score snapshots. Latest stored move: +0 points.
Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Growth engines, risks, management commitments and evidence-backed delivery
Q1FY27 saw revenue growth but profitability declined. Revenue increased by 13% YoY to ₹3378 cr, but EBITDA fell 24% YoY to ₹175 cr, with margin compression from 6.7% to 5.2%. EPS also decreased by 13% YoY to ₹4.99, impacted by rising input costs and INR depreciation.
While revenue growth in Q1FY27 was robust, significant margin contraction due to rising input costs and currency depreciation is concerning. Strong order bookings in Electro-Mechanical Projects and Commercial AC are positive, but Unitary Products' profitability and Commercial Refrigeration's degrowth need close monitoring.
Electro-Mechanical Projects saw strong order bookings primarily driven by data centers.
Commercial Air Conditioning Systems order inflow gained momentum during the quarter, supported by demand from industrial, retail and health care segments.
Company's expansion in US is progressing well and we continue to pursue more customers in US and Europe.
Industrial Solutions continue to grow steadily supported by manufacturing and testing demand.
Started commercial production at Sri City Factory in 2023.
1.2 MWp captive solar system under commissioning, adding to existing 6 MWp.
Rising opportunities in data centers giving confidence of continued growth prospects for Electro-Mechanical Projects.
Rising opportunities in factories giving confidence of continued growth prospects for Electro-Mechanical Projects.
Commercial Air Conditioning Systems order inflow gained momentum supported by demand from industrial, retail and health care segments.
Room Air Conditioners business margin remained under pressure due to rising input costs.
Margin remained under pressure due to depreciation of the Indian Rupee.
Commercial Refrigeration business witnessed degrowth as demand for deep freezers from Ice cream OEMs was muted.
The regulatory policy framework for the Med-Tech Solutions business still remains unclear, consequently the business has slowed down.
Rising input costs impacting margins, particularly in Room Air Conditioners.
Depreciation of the Indian Rupee negatively impacting margins.
Unclear regulatory policy framework for Med-Tech Solutions causing business slowdown.
Tariff-related uncertainties in international business, despite US expansion progress.
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
The company operates in a seasonal business (ACs), making year-over-year comparisons more relevant to assess underlying performance trends and seasonal demand shifts.
Revenue grew 13% YoY to ₹3378 cr in Q1FY27.
EBITDA declined 24% YoY to ₹175 cr in Q1FY27.
EBITDA margin contracted to 5.2% in Q1FY27 from 6.7% in Q1FY26.
EPS decreased 13% YoY to ₹4.99 in Q1FY27.
Management expresses confidence of continued growth prospects in Electro-Mechanical Projects due to data centers and factories.
Company plans to strengthen presence in USA, Europe and continues to pursue more customers.
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Overall Revenue Growth | ₹3378 cr (Q1FY27) | Monitor sustained double-digit growth across segments. |
| EBITDA Margin | 5.2% (Q1FY27) | Watch for margin recovery as input costs stabilize or pricing power improves. |
| Electro-Mechanical Order Bookings | Strong (Q1FY27) | Track continued strong order inflows, especially from data centers and factories. |
| Med-Tech Business Recovery | Slowed down (Q1FY27) | Observe clarity in regulatory policy and subsequent business revival. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 78th percentile of the scored universe and 81st percentile within Consumer. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
overall median 67 · Consumer: 81st pctile, median 66 · Mid: 48th pctile, median 76
167 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Latest exchange and company disclosures found within the past two years.
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