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Blue Star FY26 revenue crosses Rs 12,400 crore mark
AC major posts Rs 527 crore profit as cooling demand lifts growth.
MUMBAI: Blue Star seems to have found itself in a rather comfortable climate zone and not just inside air-conditioned rooms. The cooling solutions major closed FY26 with consolidated revenue crossing Rs 12,400 crore, as rising temperatures, commercial infrastructure demand and steady project execution helped the company maintain momentum across key businesses. For the year ended March 31, 2026, Blue Star reported consolidated revenue from operations of Rs 12,401.99 crore, up from Rs 11,967.65 crore in FY25. Profit after tax stood at Rs 527.33 crore, compared with Rs 591.28 crore a year earlier.
The March quarter brought its own heatwave of growth. Revenue rose marginally to Rs 4,072.06 crore from Rs 4,018.96 crore in the corresponding quarter last year, while quarterly profit climbed to Rs 227.18 crore against Rs 194 crore.
In a business where summer often writes the script, Blue Star’s unitary products segment home and commercial cooling systems remained a key growth engine. The division posted quarterly revenue of Rs 1,984.96 crore, sharply higher than Rs 1,154.22 crore in the December quarter, reflecting seasonal demand kicking into full swing.
Meanwhile, the company’s electro-mechanical projects and commercial air-conditioning systems business continued to anchor the topline, contributing Rs 6,762.80 crore during FY26.
Professional electronics and industrial systems added Rs 306.83 crore to annual revenue.
Operating margins also improved slightly. Blue Star reported an operating margin of 7.50 per cent for FY26, compared with 7.32 per cent last year, while quarterly operating margin expanded to 8.01 per cent.
The company’s balance sheet also reflected a business still investing for growth. Total assets rose to Rs 8,575.98 crore, while net worth climbed to Rs 3,430.81 crore from Rs 3,064.42 crore a year earlier.
At the same time, borrowings increased notably. Current borrowings stood at Rs 626.80 crore versus Rs 199.36 crore last year, pushing the debt-equity ratio to 0.18 from 0.07.
Cash generation, however, cooled off compared with the previous year. Net cash generated from operating activities came in at Rs 153.81 crore, sharply lower than Rs 688.07 crore in FY25, as working capital movements and higher inventory levels weighed on cash flows.
The broader picture, though, still reflects a company benefiting from India’s growing appetite for cooling infrastructure from homes and offices to factories and commercial projects.
Because in an economy where every summer now seems hotter than the last, the business of staying cool is becoming serious business indeed.
