Blue Star Limited (IN:BLUESTARCO)
:BLUESTARCO
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Blue Star Limited
(BLUESTARCO)
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Rating:67Neutral
Price Target:
₹1,757.00
▼(-3.80% Downside)
Action:DowngradedDate:12/18/25
Blue Star Limited's strong financial performance is the most significant factor, supported by consistent revenue growth and a solid balance sheet. However, technical indicators show mixed signals, and the high P/E ratio suggests overvaluation, which tempers the overall score.
Positive Factors
Balance Sheet Strength
Low leverage (D/E ~0.12) combined with a robust ROE (~19.29%) provides durable financial flexibility. This allows Blue Star to fund project working capital, absorb execution delays and pursue capital expenditures or bolt-on investments with minimal reliance on external debt, strengthening resilience over cycles.
Negative Factors
Free Cash Flow Volatility
Historic free cash flow volatility—negative in prior years despite a recent turnaround—reflects timing swings from project milestones and inventory/receivables. Such variability can constrain consistent reinvestment, dividends or debt reduction and requires conservative liquidity planning across cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
Low leverage (D/E ~0.12) combined with a robust ROE (~19.29%) provides durable financial flexibility. This allows Blue Star to fund project working capital, absorb execution delays and pursue capital expenditures or bolt-on investments with minimal reliance on external debt, strengthening resilience over cycles.
Read all positive factors
Blue Star Limited (BLUESTARCO) vs. iShares MSCI India ETF (INDA)
Market Cap
₹332.90B
Dividend Yield0.51%
Average Volume (3M)14.76K
Price to Earnings (P/E)110.4
Beta (1Y)1.08
Revenue Growth14.20%
EPS Growth3.84%
CountryIN
Employees3,167
SectorConsumer Defensive
Sector Strength42
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)6.00
Shares Outstanding205,614,790
10 Day Avg. Volume16,999
30 Day Avg. Volume14,756
Financial Highlights & Ratios
PEG Ratio1.84
Price to Book (P/B)13.57
Price to Sales (P/S)3.48
P/FCF Ratio131.60
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)36.73
Revenue Forecast (FY)₹148.49B
Blue Star Limited Business Overview & Revenue Model
Company Description
Blue Star Limited operates as a central air conditioning and commercial refrigeration company in India. The company operates through three segments: Electro-Mechanical Projects and Commercial Air Conditioning Systems, Unitary Products, and Profess...
How the Company Makes Money
Blue Star makes money primarily by (1) executing HVAC and MEP projects and (2) selling HVAC and refrigeration products, supplemented by service and maintenance revenues.
1) Project and solutions revenue (central HVAC/MEP): A significant portion o...
Blue Star Limited Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 122.31B | 119.68B | 96.85B | 79.77B | 60.64B | 42.71B |
| Gross Profit | 23.10B | 28.16B | 22.40B | 17.57B | 13.04B | 9.80B |
| EBITDA | 8.52B | 8.23B | 6.28B | 4.50B | 3.27B | 2.28B |
| Net Income | 5.46B | 5.91B | 4.15B | 4.00B | 1.68B | 1.00B |
Balance Sheet | ||||||
| Total Assets | 79.01B | 82.58B | 66.18B | 53.99B | 43.13B | 35.49B |
| Cash, Cash Equivalents and Short-Term Investments | 4.54B | 8.42B | 6.23B | 3.69B | 4.11B | 6.07B |
| Total Debt | 11.70B | 3.81B | 2.43B | 6.62B | 5.54B | 5.10B |
| Total Liabilities | 47.71B | 51.90B | 40.06B | 40.65B | 32.92B | 26.62B |
| Stockholders Equity | 31.12B | 30.65B | 26.10B | 13.31B | 10.18B | 8.85B |
Cash Flow | ||||||
| Free Cash Flow | -8.59B | 3.16B | -1.52B | -1.13B | -1.26B | 2.86B |
| Operating Cash Flow | -7.28B | 6.88B | 2.89B | 2.47B | 918.00M | 3.50B |
| Investing Cash Flow | -373.10M | -4.64B | -5.25B | -1.82B | -690.10M | -2.40B |
| Financing Cash Flow | 4.27B | -1.62B | 3.65B | -910.80M | -867.70M | -695.70M |
Blue Star Limited Technical Analysis
Negative
1826.35
Price Trends
1825.15
Negative
1801.25
Negative
1822.44
Negative
Market Momentum
-84.80
Positive
40.78
Neutral
40.79
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BLUESTARCO, the sentiment is Negative. The current price of 1826.35 is above the 20-day moving average (MA) of 1724.63, above the 50-day MA of 1825.15, and above the 200-day MA of 1822.44, indicating a bearish trend. The MACD of -84.80 indicates Positive momentum. The RSI at 40.78 is Neutral, neither overbought nor oversold. The STOCH value of 40.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:BLUESTARCO.
Blue Star Limited Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹232.25B | 44.51 | ― | ― | 12.77% | 31.32% | |
67 Neutral | ₹332.90B | 110.38 | ― | 0.51% | 14.20% | 3.84% | |
64 Neutral | ₹184.29B | 63.58 | ― | ― | 19.91% | 22.13% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
61 Neutral | ₹418.19B | 132.41 | ― | 0.50% | -1.46% | -1.15% | |
59 Neutral | ₹121.06B | 25.72 | ― | 0.43% | 4.16% | -0.73% | |
58 Neutral | ₹393.36B | 41.70 | ― | 0.48% | 3.37% | -19.95% |
* Consumer Defensive Sector Average
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Blue Star Limited Corporate Events
Blue Star Reports Unauthorized Access to Product Installation Data
Feb 1, 2026
Blue Star Limited has disclosed that an unauthorized person gained access to its product installation data, prompting the company to notify the stock exchanges under regulatory disclosure norms. The company says it swiftly restricted further acces...
Blue Star Sets January 30 Investor Call to Discuss Q3 and Nine-Month FY26 Results
Jan 22, 2026
Blue Star Limited has scheduled an investors’ conference call to discuss its financial performance for the third quarter and nine months ended December 31, 2025. The earnings call, to be led by Managing Director B. Thiagarajan and Group CFO ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.