Blue Star Limited · NSE:BLUESTARCO
Blue Star — Q2 FY27 Earnings Presentation
21 slides from Blue Star's earnings presentation, Oct 30, 2026
Slide 1: Exchange filing cover letter
Blue Star Limited Band Box House, 4th Floor, 254 D, Dr Annie Besant Road, Worli, Mumbai 400 030, India. T : +91 22 6654 4000 E : [email protected] www.bluestarindia.com October 30, 2026 BSE Limited National Stock Exchange of India Ltd Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, B
Slide 2: Investor Presentation Q2FY27 & H1FY27
Investor Presentation Q2FY27 & H1FY27 Consolidated results for the quarter ended 30 September 2026 1
Slide 3: Forward Looking Statement
Forward Looking Statement Certain statements in this presentation regarding our business operations may constitute forward- looking statements. These include all statements other than statements of historical facts, including those regarding the financial position, business strategy, management plan
Slide 4: Vision, Credo and The Blue Star Way
Vision, Credo and The Blue Star Way VISION The Blue Star Way “To dream, to strive, to care, CUSTOMER FIRST and above all, to be the best in We place our customers at the center of every decision, action and interaction. everything we do.” INTEGRITY IN ACTION We do what is right, guided by accountabi
Slide 5: More than 8 Decades – A Growth Journey
More than 8 Decades – A Growth Journey 1943 1947 1969 1993 EBITDA 1997 EBITDA 2005-07 1977 Reve Margin Earnings before Margin Earnings before Started Enters South- Mohan T Advani Listed on Forays into New Set up world interest, taxes, Set uptaxes, interest, founds Blue Star Central Air East Asia wit
Slide 6: Snapshot
Snapshot Maintains c. 2 million Key end-markets, including Air conditioning, Commenced operations in tonnes of air conditioning Residential, Commercial, Refrigeration and MEP 1943, with c. 80 years of and refrigeration Industrial, and solution provider operations in India equipment Infrastructure. P
Slide 7: Strong governance is the key pillar of Blue Star
Strong governance is the key pillar of Blue Star through out its existence Chairmen Emeriti Ashok M Advani Suneel M Advani Board of Directors Vir S Advani* B Thiagarajan* Mohit Sud* Chairman & Managing Director Managing Director Executive Director Rajiv R Lulla Sunaina Murthy Dinesh Vaswani M S Unni
Slide 8: Manufacturing Facilities
Where Cooling Solutions are shaped Manufacturing Facilities Location: Himachal Pradesh 2 Location: Himachal Pradesh 1 Started in: 2011 Started in: 2005 Ahmedabad Started in: 2012 Dadra Started in: 1997 Location: Sri City Started in: 2023 Wada 7 Started in: 2007
Slide 9: Financial Highlights – Q2FY27
Financial Highlights – Q2FY27 8
Slide 10: Financial highlights – Q2FY27
Financial highlights – Q2FY27 Revenue from operations EBITDA (excl. other income) Profit before tax (bei)^ ₹2,930.95 cr ₹202.58 cr ₹134.28 cr ▲ 21.0% Q2FY26: ₹2,422.37 cr ▲ 10.5% Q2FY26: ₹183.41 cr ▼1.6% Q2FY26: ₹132.16 cr Net profit# Earnings per share*# Carried-forward order book ₹123.91 cr ₹6.03
Slide 11: Segment Overview – Q2FY27
BLUE STAR >) Segment Overview - Q2FY27
Slide 12: Segment – Electro-Mechanical Projects and Commercial Air Conditioning Systems
Segment 1 – Electro-Mechanical Projects and Commercial Air Conditioning Systems Revenue Segment result EBIT margin ₹1,935.99 cr ▲ 16.3% Q2FY26: ₹1,664.21 cr ₹133.15 cr ▼ 9.5% Q2FY26: ₹147.14 cr 6.9% ▼ 190 bps Q2FY26: 8.8% Robust revenue growth in product business while it remained subdued in proje
Slide 13: Segment – Unitary Products
Segment 2 – Unitary Products Revenue Segment result EBIT margin ₹897.66 cr ▲ 29.4% Q2FY26: ₹693.81 cr ₹20.74 cr ▼ 51.4% Q2FY26: ₹42.72 cr 2.3% ▼ 390 bps Q2FY26: 6.2% An extended summer supported strong demand for Room ACs. Despite periodic price increases, only part of the material cost escalati
Slide 14: Segment – Professional Equipment & Industrial Solutions
Segment 3 – Professional Equipment & Industrial Solutions Revenue Segment result EBIT margin ₹97.30 cr ▲ 51.2% Q2FY26: ₹64.35 cr ₹23.10 cr ▲ 274.4% Q2FY26: ₹6.17 cr 23.7% ▲ 1410 bps Q2FY26: 9.6% The Company completed the sale of its MedTech business on August 31, 2026. The write-back of warranty
Slide 15: Financial Highlights – H1FY27
Financial Highlights – H1FY27 14
Slide 16: Financial highlights – H1FY27
Financial highlights – H1FY27 Revenue from operations EBITDA (excl. other income) Profit before tax (bei)^ ₹6,308.87 cr ₹377.53 cr ₹259.70 cr ▲ 16.7% H1FY26: ₹5,404.62 cr ▼1.5% H1FY26: ₹383.41 cr ▼12.1% H1FY26: ₹295.40 cr Net profit # Earnings per share*# Carried-forward order book ₹226.42 cr ₹11.01
Slide 17: Balance Sheet Position – H1FY27
Balance Sheet Position – H1FY27 Net Borrowings/(Cash Position)(₹ cr) ▲ ₹706 cr Net Debt equity (x) Improved 417.06 0.13 -289.43 -0.08 H1FY26 H1FY27 H1FY26 H1FY27 Net worth (₹ cr) ▲ ₹376 cr Capital turns (times) Constant 3486.70 4.0x 4.0x 3110.96 H1FY26 H1FY27 H1FY26 H1FY27 16
Slide 18: ESG Practices
BLUE STAR >) ESG Practices
Slide 19: ESG Practices
ESG Practices Environmentally Social Responsibility Governance Responsible Operations & Community Impact Excellence Eco-Conscious Product Innovation Diversity & Inclusion Robust Compliance Framework Focus on energy-efficient and sustainable 16.67 % of female representation in Board; & Code of Conduc
Slide 20: Industry recognition for achievements
Industry recognition for achievements Corporate governance and management Golden Peacock Award for Golden Peacock Award for Risk Winner of ICSI Best Governed Great Place to Work – Certified Corporate Governance Management Company (Listed: Medium) Organization 2019/2020/2021 2020/2022/2023 2019 2023
Slide 21: Thank you
Thank you 20