Blue Star Limited is a leading HVAC&R company in India, with an annual revenue exceeding ₹7977 crores (approximately $972 million). The company operates a vast network of 30 offices, seven advanced manufacturing facilities, and employs 3132 professionals, supported by 4040 channel partners. Blue Star offers an extensive range of air conditioning and commercial refrigeration products, including air purifiers, water purifiers, air coolers, cold storages, and specialty products. Serving both commercial and residential segments, Blue Star provides precision inverter, split, and window ACs for homes, and VRFs and ducted systems for commercial complexes. The company also offers commercial refrigeration solutions like water coolers, bottled water dispensers, deep freezers, modular cold rooms, ripening chambers, medical and retail refrigeration equipment, and mortuary chambers. Recently, Blue Star has expanded its portfolio with advanced water purifiers, air purifiers, and air coolers. Their innovative products include ACs with in-built air purifiers and Wi-Fi-enabled 5-star inverter split ACs that can be operated through voice commands. Blue Star’s integrated business model combines manufacturing, contracting, and after-sales service, offering end-to-end solutions and maintaining a leading position as an HVAC&R service provider. The subsidiary, Blue Star Engineering & Electronics Ltd, provides advanced technology products and turnkey engineering services. With manufacturing facilities in Dadra, Himachal Pradesh, Wada, and Ahmedabad, Blue Star emphasizes energy efficiency and sustainability in its products, solidifying its position as a leader in the industry.
History of Blue Star Limited
Blue Star Limited was founded in 1943 by Mohan T. Advani as a reconditioning company. Shortly after its inception, the company expanded its operations to include the manufacturing of ice candy machines and bottle coolers. It also began designing and executing central air conditioning projects, followed by the production of water coolers. Over time, Blue Star diversified its product lines and started exporting to Dubai. In 1969, the company went public with an initial public offering and listed on the Bombay Stock Exchange.
In the late 2000s, Blue Star ventured into the electrical, plumbing, and fire-fighting contracting businesses, providing integrated mechanical, electrical, and plumbing (MEP) solutions to its customers. A few years later, it entered the residential air conditioning market, as well as the water and air purification segments. Recently, Blue Star has also stepped into the engineering facility management (EFM) space, further broadening its range of services and reinforcing its position as a leader in the HVAC&R industry.
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | |
| Promoters + | 38.79% | 38.91% | 36.49% | 36.50% | 36.50% |
| FIIs + | 10.45% | 11.06% | 14.89% | 15.38% | 15.93% |
| DIIs + | 25.13% | 24.51% | 25.24% | 24.82% | 24.69% |
| Public + | 25.65% | 25.54% | 23.39% | 23.29% | 22.89% |
| No. of Shareholders | 56,940 | 58,546 | 59,444 | 65,465 | 72,949 |
The shareholding pattern of Blue Star Limited has undergone several changes over the period from March 2023 to March 2024. The promoters’ stake saw a slight decrease, starting at 38.79% in March 2023 and reducing to 36.50% by March 2024. In contrast, the Foreign Institutional Investors (FIIs) increased their holdings significantly, from 10.45% in March 2023 to 15.93% in March 2024. Domestic Institutional Investors (DIIs) also showed minor fluctuations, holding 25.13% in March 2023 and slightly decreasing to 24.69% by March 2024. The public shareholding decreased over the same period, from 25.65% in March 2023 to 22.89% in March 2024. Additionally, the number of shareholders grew consistently, from 56,940 in March 2023 to 72,949 in March 2024, indicating increased investor interest in the company.
Below are the trading platforms that you can use to purchase Blue Star Ltd shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| July 2024 | 1,698.00 | 1,476.53 |
| August 2024 | 1,765.92 | 1,535.59 |
| September 2024 | 1,836.56 | 1,597.01 |
| October 2024 | 1,800.55 | 1,565.70 |
| November 2024 | 1,872.57 | 1,628.32 |
| December 2024 | 1,891.30 | 1,644.61 |
In 2024, the maximum and minimum prices for Blue Star Ltd shares are expected to show a steady increase. In July, the prices are expected to peak at ₹1,698.00, with a minimum of ₹1,476.53. By December, the maximum price is expected to reach ₹1,891.30, and the minimum is expected to be ₹1,644.61. This projection indicates a consistent upward trend in Blue Star Ltd’s share prices throughout the year.
| When | Maximum Price | Minimum Price |
| January 2025 | 1,910.21 | 1,469.39 |
| February 2025 | 1,929.51 | 1,484.24 |
| March 2025 | 1,970.03 | 1,515.40 |
| April 2025 | 1,950.52 | 1,500.40 |
| May 2025 | 1,893.71 | 1,456.70 |
| June 2025 | 1,978.93 | 1,522.25 |
| July 2025 | 1,940.12 | 1,492.40 |
| August 2025 | 2,000.13 | 1,538.56 |
| September 2025 | 2,024.13 | 1,557.02 |
| October 2025 | 2,076.76 | 1,597.50 |
| November 2025 | 2,128.68 | 1,637.44 |
| December 2025 | 2,224.47 | 1,711.13 |
In 2025, Blue Star Ltd’s shares are expected to see fluctuating but generally increasing prices. In January, the maximum price is expected to be ₹1,910.21, with a minimum of ₹1,469.39. By December, these prices are projected to rise significantly, with the maximum reaching ₹2,224.47 and the minimum expected to be ₹1,711.13.
| When | Maximum Price | Minimum Price |
| January 2026 | 2,291.20 | 1,762.46 |
| February 2026 | 2,233.92 | 1,718.40 |
| March 2026 | 2,278.60 | 1,752.77 |
| April 2026 | 2,325.10 | 1,788.54 |
| May 2026 | 2,302.08 | 1,770.83 |
| June 2026 | 2,359.63 | 1,815.10 |
| July 2026 | 2,313.36 | 1,779.51 |
| August 2026 | 2,384.91 | 1,834.55 |
| September 2026 | 2,432.61 | 1,871.24 |
| October 2026 | 2,495.86 | 1,919.89 |
| November 2026 | 2,558.25 | 1,967.89 |
| December 2026 | 2,622.21 | 2,017.08 |
| When | Maximum Price | Minimum Price |
| January 2027 | 2,648.43 | 2,037.26 |
| February 2027 | 2,716.34 | 2,089.49 |
| March 2027 | 2,822.28 | 2,170.98 |
| April 2027 | 2,766.94 | 2,128.41 |
| May 2027 | 2,686.35 | 2,066.42 |
| June 2027 | 2,807.23 | 2,159.41 |
| July 2027 | 2,752.19 | 2,117.07 |
| August 2027 | 2,837.31 | 2,182.55 |
| September 2027 | 2,936.62 | 2,258.94 |
| October 2027 | 3,012.97 | 2,317.67 |
| November 2027 | 3,088.29 | 2,375.61 |
| December 2027 | 3,165.50 | 2,435.00 |
| When | Maximum Price | Minimum Price |
| January 2028 | 3,228.81 | 2,483.70 |
| February 2028 | 3,311.60 | 2,547.38 |
| March 2028 | 3,440.75 | 2,646.73 |
| April 2028 | 3,373.29 | 2,594.84 |
| May 2028 | 3,275.03 | 2,519.26 |
| June 2028 | 3,422.41 | 2,632.62 |
| July 2028 | 3,355.31 | 2,581.00 |
| August 2028 | 3,459.08 | 2,660.83 |
| September 2028 | 3,580.15 | 2,753.96 |
| October 2028 | 3,673.23 | 2,825.56 |
| November 2028 | 3,765.06 | 2,896.20 |
| December 2028 | 3,859.19 | 2,968.60 |
| When | Maximum Price | Minimum Price |
| January 2029 | 3,936.37 | 3,027.98 |
| February 2029 | 4,037.30 | 3,105.62 |
| March 2029 | 4,194.76 | 3,226.74 |
| April 2029 | 4,112.51 | 3,163.47 |
| May 2029 | 3,992.73 | 3,071.33 |
| June 2029 | 4,172.40 | 3,209.54 |
| July 2029 | 4,090.59 | 3,146.60 |
| August 2029 | 4,217.10 | 3,243.92 |
| September 2029 | 4,364.70 | 3,357.46 |
| October 2029 | 4,478.18 | 3,444.75 |
| November 2029 | 4,590.13 | 3,530.87 |
| December 2029 | 4,704.89 | 3,619.14 |
| When | Maximum Price | Minimum Price |
| January 2030 | 4,798.99 | 3,691.53 |
| February 2030 | 4,922.04 | 3,786.18 |
| March 2030 | 5,114.00 | 3,933.84 |
| April 2030 | 5,013.72 | 3,856.71 |
| May 2030 | 4,867.69 | 3,744.38 |
| June 2030 | 5,086.74 | 3,912.87 |
| July 2030 | 4,987.00 | 3,836.15 |
| August 2030 | 5,141.23 | 3,954.80 |
| September 2030 | 5,321.18 | 4,093.21 |
| October 2030 | 5,459.53 | 4,199.64 |
| November 2030 | 5,596.02 | 4,304.63 |
| December 2030 | 5,735.92 | 4,412.24 |
In 2030, Blue Star Ltd’s shares are expected to experience varying prices throughout the year. In January, the maximum price is anticipated to reach ₹4,798.99, with a minimum of ₹3,691.53. By December, these prices are projected to increase further, with the maximum expected to be ₹5,735.92 and the minimum anticipated at ₹4,412.24. This forecast suggests potential volatility and growth opportunities for investors in Blue Star Ltd during 2030.
Financial Condition of Blue Star Ltd: Last 5 Years
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
| Sales + | 5,360 | 4,264 | 6,064 | 7,977 | 9,685 |
| Expenses + | 5,077 | 4,024 | 5,717 | 7,478 | 9,020 |
| Operating Profit | 283 | 240 | 347 | 500 | 665 |
| OPM % | 5% | 6% | 6% | 6% | 7% |
| Other Income + | 40 | 65 | 36 | 195 | 48 |
| Interest | 29 | 65 | 46 | 55 | 58 |
| Depreciation | 88 | 92 | 86 | 85 | 98 |
| Profit before tax | 206 | 148 | 251 | 555 | 557 |
| Tax % | 32% | 32% | 33% | 28% | 26% |
| Net Profit + | 144 | 101 | 168 | 401 | 414 |
| EPS in Rs | 7.44 | 5.21 | 8.71 | 20.79 | 20.18 |
| Dividend Payout % | 67% | 38% | 57% | 29% | 35% |
Based on the financial data provided from March 2020 to March 2024, Blue Star Ltd has shown steady growth across key metrics. Sales have steadily increased from ₹5,360 crore in March 2020 to ₹9,685 crore in March 2024, reflecting robust revenue growth. Concurrently, expenses have also risen, aligning with the higher sales figures, reaching ₹9,020 crore in March 2024 from ₹5,077 crore in March 2020.
The company’s operating profit has shown consistent improvement, growing from ₹283 crore in March 2020 to ₹665 crore in March 2024, with the Operating Profit Margin (OPM) increasing from 5% to 7% over the same period. Other income, though fluctuating, has contributed positively to the overall profitability, ranging from ₹36 crore to ₹195 crore during the period.
Interest expenses and depreciation have remained relatively stable, reflecting prudent financial management. Profit before tax saw a significant increase from ₹206 crore in March 2020 to ₹557 crore in March 2024, indicating enhanced operational efficiency and higher profitability. Net profit has followed a similar upward trajectory, rising from ₹144 crore to ₹414 crore during the same period.
Earnings Per Share (EPS) has shown substantial growth, increasing from ₹7.44 in March 2020 to ₹20.18 in March 2024, driven by higher profitability and a stable tax rate. The dividend payout percentage, reflecting the company’s dividend distribution policy, has varied but generally maintained a reasonable range, indicating a balanced approach towards rewarding shareholders while ensuring reinvestment for growth.
Overall, Blue Star Ltd’s financial performance demonstrates consistent revenue growth, improved profitability metrics, and a prudent financial strategy aimed at enhancing shareholder value and sustaining long-term growth.
FAQs
What is the current market capitalization of Blue Star Ltd?
Blue Star Ltd ‘s current market capitalization stands at a Strong ₹34,630 crore.
The latest share price of Blue Star Ltd is priced at ₹1,684, reflecting market confidence and potential.
Blue Star Ltd ‘s share price targets for 2025 range from a promising ₹1,456.70 to an optimistic ₹2,224.47, indicating strong potential for growth and investor interest throughout the year.
Blue Star Ltd ‘s share price is projected to soar from ₹3,691.53 to ₹5,735.92 in 2030, suggesting substantial growth opportunities and market optimism.
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Conclusion
In conclusion, Blue Star Ltd has demonstrated strong financial performance over the years, characterized by consistent revenue growth, strong profitability metrics, and prudent financial management practices. With a steady increase in sales from ₹5,360 crore in March 2020 to ₹9,685 crore in March 2024, the company has showcased its ability to expand its market presence effectively. Operating profit margins have improved from 5% to 7%, underscoring enhanced operational efficiency. This growth trajectory is further supported by a significant rise in net profit from ₹144 crore to ₹414.
What did we learn?
- 1 History of Blue Star Limited
- 2 Shareholding Patterns of Blue Star Ltd
- 3 How to Purchase Blue Star Ltd Shares in India?
- 4 Blue Star Ltd Share Price Prediction: 2024 – 2030
- 4.1 Blue Star Ltd Share Price Prediction 2024
- 4.2 Blue Star Ltd Share Price Prediction 2025
- 4.3 Blue Star Ltd Share Price Prediction 2026
- 4.4 Blue Star Ltd Share Price Prediction 2027
- 4.5 Blue Star Ltd Share Price Target 2028
- 4.6 Blue Star Ltd Share Price Prediction 2029
- 4.7 Blue Star Ltd Share Price Target 2030
- 5 Financial Condition of Blue Star Ltd: Last 5 Years
- 6 FAQs
- 7 Conclusion
