Blue Star Limited has announced a 6.4% increase in revenue from operations for Q2FY26, reaching ₹2,422.37 cr, compared to ₹2,275.96 cr in Q2FY25. The growth was largely driven by the Electro-Mechanical Projects & Commercial Air Conditioning Systems segment, which saw a 16.5% increase. The company remains optimistic about future demand, particularly in the Room AC business, following GST rate rationalization.
Financial Performance Highlights
Blue Star reported a 6.4% growth in revenue from operations for Q2FY26, with revenues reaching ₹2,422.37 cr, up from ₹2,275.96 cr in Q2FY25. The company’s EBIDTA (excluding other income) improved to ₹183.41 cr, representing a margin of 7.6%. Net profit also saw a 2.8% increase, reaching ₹98.78 cr.
The carried-forward order book as of September 30, 2025, grew by 7.9% to ₹7,120.44 cr, compared to ₹6,598.20 cr as of September 30, 2024.
Segment Performance
Electro-Mechanical Projects & Commercial Air Conditioning
This segment experienced a 16.5% revenue increase, reaching ₹1,664.21 cr in Q2FY26, compared to ₹1,428.42 cr in Q2FY25. Segment result was ₹147.14 cr (8.8% of revenue) in Q2FY26.
Unitary Products
The Unitary Products segment saw a revenue decrease of 9.5%, with revenues of ₹693.81 cr in Q2FY26. Segment result was ₹42.72 cr (6.2% of revenue).
Professional Electronics and Industrial Systems
This segment experienced a revenue decline of 20.1%, with revenues of ₹64.35 cr in Q2FY26. Segment result was ₹6.17 cr (9.6% of revenue).
Business Outlook
Blue Star anticipates improved demand in the Room AC business due to GST rate rationalization. The company is also focusing on reducing operating costs and working capital to improve its H2FY26 performance.
Source: BSE
