Blue Star Ltd
Blue Star Q3 FY25 earnings call: Revenue & Margins
Q3 FY25 earnings call: what management guided on revenue, margins and order book.
The short version
The company expects the Room Air Conditioner (RAC) market to grow at a 19% CAGR over the next five years, driven by low penetration levels currently and increasing demand. Blue Star delivered strong Q3 FY25 results with 25.3% revenue growth and 31.8% net profit growth, showing good momentum.
From Blue Star Ltd's Q3 FY25 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- The company expects the Room Air Conditioner (RAC) market to grow at a 19% CAGR over the next five years, driven by low penetration levels currently and increasing demand.
- Demand is buoyed by market factors such as prolonged summer seasons and strong festive season sales.
- The industry overall is likely to close above 15 million units, with Blue Star targeting sales much higher than 1.5 million units.
- Despite challenges like supply chain disruptions (compressor availability, component ecosystem issues), the company has secured raw materials for the upcoming season.
- Capital investments and capacity expansions at manufacturing plants (Sri City, HP plant) prepare for scaling production up to 1.8 to 2.4 million units as demand grows.
- Growth drivers include onset of summer, potential government spending revival, and increased private sector CAPEX.
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Profitability & Margins
See what Blue Star Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Blue Star Limited plans a capital expenditure (CAPEX) of around Rs. 750 to 800 crore over the next three years.
- The CAPEX will be directed towards manufacturing expansion, product development, and digitalization initiatives.
- The company’s capacity at the HP plant is approximately 600,000 units, and the Sri City plant is being expanded from 300,000 up to 600,000 units, with potential scalability up to 1.8 to 2.4 million units as demand grows.
- Investments are modular and scalable, allowing expansion in response to market demand without capacity constraints.
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Top-ranked in Consumer Durables
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- The carried forward order book as of December 31, 2024, stood at a record high of Rs. 6,801.99 crore.
- This represents a growth of 12.8% compared to Rs. 6,038.53 crore as of December 31, 2023.
- The company has a strong order book providing good visibility for upcoming quarters.
- The momentum is expected to be maintained in various segments, including Segment-I (Electro-Mechanical projects).
Blue Star Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹4.1K Cr, net profit ₹227 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Blue Star Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q4 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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Frequently Asked Questions
What were Blue Star Ltd Q3 FY25 results?
The company expects the Room Air Conditioner (RAC) market to grow at a 19% CAGR over the next five years, driven by low penetration levels currently and increasing demand. Blue Star delivered strong Q3 FY25 results with 25.3% revenue growth and 31.8% net profit growth, showing good momentum.
What is Blue Star Ltd share price analysis?
Blue Star Ltd currently shows a neutral. The stock trades at a P/E of 61.3 with a market cap of ₹34,235 Cr. Investors should review the full earnings analysis for detailed insights.
Is Blue Star Ltd planning capital expenditure?
Blue Star Limited plans a capital expenditure (CAPEX) of around Rs.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.