Mumbai, January 29, 2025 – Blue Star Limited, a leading provider of cooling solutions and commercial refrigeration, has reported a 25.3% year-over-year (YoY) increase in consolidated revenue, reaching ₹2,807.36 crore for the third quarter ended December 31, 2024. The company's operating profit surged by 35%, reflecting its continued expansion and strategic initiatives.
Key Financial Highlights (Q3 FY25 vs Q3 FY24)
- Revenue from Operations: ₹2,807.36 crore, up from ₹2,241.19 crore (+25.3%)
- Operating Profit (PBIDTA excl. Other Income): ₹209.38 crore, up from ₹155.35 crore (+35%)
- Profit Before Tax (PBT excl. Exceptional Items): ₹167.2 crore, up from ₹134.29 crore (+24.5%)
- Net Profit: ₹132.46 crore, up from ₹100.46 crore (+32%)
- Earnings Per Share (EPS): ₹6.44, up from ₹4.89 (+31.7%)
- Order Book: ₹6,809.99 crore, up from ₹6,038.53 crore (+12.8%)
Segment-Wise Performance
Electro-Mechanical Projects & Commercial Air Conditioning
- Revenue increased 32.2% to ₹1,562.41 crore (Q3 FY24: ₹1,182.3 crore).
- Segment profit stood at ₹118.73 crore, with a margin of 7.6%.
- Demand from factories and data centers remained strong, while the commercial real estate and infrastructure sectors faced some headwinds.
Unitary Products (Room AC & Commercial Refrigeration)
- Revenue grew 21.9% to ₹1,164.36 crore (Q3 FY24: ₹955.38 crore).
- Segment profit rose to ₹94.78 crore (8.1% margin), compared to ₹67.93 crore (7.1% margin) in Q3 FY24.
- Strong festive season demand boosted the Room AC business.
- Growth in quick commerce and food delivery sectors fueled demand for modular cold rooms.
Professional Electronics & Industrial Systems
- Revenue declined 22.1% to ₹80.59 crore.
- Segment profit dropped to ₹6.2 crore (7.7% margin), compared to ₹15.21 crore (14.7% margin) in Q3 FY24.
- Med-Tech and Data Security segments saw subdued performance, impacting order inflows.
Nine-Month Performance (9M FY25 vs 9M FY24)
- Revenue: ₹7,948.69 crore (+25%)
- Operating Profit: ₹596.52 crore (+41%)
- Net Profit: ₹397.28 crore (+56%)
Financial Position
- Capital Employed: ₹2,763.44 crore (Q3 FY24: ₹2,298.88 crore)
- Net Cash Position: ₹102 crore (Q3 FY24: ₹157 crore)
Outlook & Future Strategy
Chairman and Managing Director Vir S. Advani remains optimistic about sustained growth, citing strong order inflows, a robust summer season ahead, and increased private sector capex. However, commodity price fluctuations and supply chain constraints are mitigated through strategic cost control and digital transformation initiatives.Blue Star’s continued investments in R&D, digital transformation, and supply chain efficiencies are expected to drive further growth, positioning the company for another strong year in FY25.