Blue Star Limited reported a strong performance in its second quarter of fiscal year 2027 (Q2FY27), with consolidated revenue surging 21.0% to ₹2,930.95 crore. Operating profit also saw a healthy increase of 10.5% to ₹202.58 crore. The company highlighted robust demand for Room ACs and revival in Commercial Air Conditioning and Refrigeration segments, while navigating material cost pressures.
Blue Star Reports Strong Q2 FY27 Financials
Blue Star Limited announced its financial results for the second quarter ended September 30, 2026, showcasing significant growth in both revenue and profitability. The company’s consolidated revenue from operations climbed by 21.0% to reach ₹2,930.95 crore, a substantial increase from ₹2,422.37 crore in the same period of the previous year (Q2FY26). This growth was primarily driven by strong demand for Room ACs due to an extended summer season.
Profitability and Segment Performance
Operating Profit (EBITDA excluding Other Income) for Q2FY27 increased by 10.5% to ₹202.58 crore (6.9% of Revenue), compared to ₹183.41 crore (7.6% of Revenue) in Q2FY26. Despite this growth, the company noted that profitability remained under pressure across businesses due to escalating material costs and limitations in passing these increases onto customers.
Segment-wise performance highlights:
- Segment 1 (Electro-Mechanical Projects, Commercial Air Conditioning Systems, Service and International Business): Revenue grew by 16.3% to ₹1,935.99 crore. The segment result stood at ₹133.15 crore (6.9% of Revenue). The Electro-Mechanical Projects business saw order inflows driven by data centres, while Commercial Air Conditioning experienced robust revenue growth.
- Unitary Products Segment (Room Air Conditioners and Commercial Refrigeration): Revenue grew by 29.4% to ₹897.66 crore. The segment result was ₹20.74 crore (2.3% of Revenue), impacted by material cost pressures despite strong demand for Room ACs.
- Professional Electronics and Industrial Systems Segment: Revenue increased by 51.2% to ₹97.30 crore. The segment result improved significantly to ₹23.10 crore (23.7% of Revenue) following the divestment of the MedTech business.
Half-Yearly Performance
For the half-year ended September 30, 2026, the company reported Revenue from Operations of ₹6,308.87 crore, a growth of 16.7% over the previous year. Operating Profit for H1FY27 was ₹377.53 crore (6.0% of Revenue).
Outlook
Vir S Advani, Chairman & Managing Director, expressed optimism about continued strong demand for Room ACs and a healthy pipeline of Data Centre MEP projects. The company anticipates a revival in demand across Commercial Air Conditioning and Commercial Refrigeration segments. Blue Star remains confident in sustaining its revenue growth momentum in H2FY27, focusing on calibrated price revisions, product cost optimization, and operational efficiencies to enhance margins.
Source: BSE
