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Blue Star Ltd News

Indian AC industry likely to double in next four years: Blue Star

The air-conditioning industry, valued at around Rs 27,500 crore (USD 3.3 billion), is likely to double in the next four years, Blue Star has said in its annual report. The Indian HVAC&R (heating, ventilating, air conditioning and refrigerating) is poised for exponential growth, said Blue Star Chairman & Managing Director Vir S Advani. This growth would be driven by factors such as low penetration of room ACs and the burgeoning middle-class consumers with high disposable incomes, especially from smaller Tier III, IV & V markets. The Indian The overall AC industry (both residential and commercial), currently valued at around Rs 27,500 crore, is likely to double in the next four years, Advani said in his address to the company's shareholders in the annual report for 2023-24. The company is optimistic about its future business outlook, given the changing weather pattern, resulting in hotter summers coupled with a new and resilient product portfolio in residential and ...

Indian AC industry likely to double in next four years: Blue Star
Updated On : 14 Jul 2024 | 7:40 PM IST

Blue Star Q4FY24 results: Net profit declines 29% to Rs 159.71 crore

Air conditioner and commercial refrigeration system maker Blue Star Ltd on Thursday reported a 29 per cent decline in its consolidated net profit to Rs 159.71 crore for the fourth quarter of 2023-24. The company had reported a net profit of Rs 225.29 crore in the January-March quarter of FY2022-23, a regulatory filing showed. Blue Star's total income increased to Rs 3,340.16 crore in the quarter under review from Rs 2,830.48 crore in the January-March period of the previous fiscal. Its total expenses were also higher at Rs 3,126.38 crore in the fourth quarter of 2023-24, compared with Rs 2,485.46 crore in the corresponding period last year. "The company has reported Revenue from Operations of Rs 9,685.36 crore for the year ended March 31, 2024, compared to Rs 7,977.32 crore during FY23, representing growth of 21.4 per cent," Blue Star Ltd stated. It further informed that the net profit for the year was Rs 414.31 crore compared to Rs 400.69 crore in FY23. During the previous year, t

Blue Star Q4FY24 results: Net profit declines 29% to Rs 159.71 crore
Updated On : 02 May 2024 | 5:02 PM IST

Blue Star expects 25% growth in sales of residential AC in June quarter

Homegrown cooling products maker Blue Star on Tuesday said it expects up to 25 per cent growth in sales of residential AC in the June quarter, the period which accounts for the highest number of sales due to the temperature rise and heat wave. The company has already witnessed up to a 40 per cent year-on-year increase in sales of AC in March from the Southern region, where sales of cooling products start early, Blue Star Managing Director B Thiagarajan said. "Our goal is to reach the market share of 15 per cent in FY25. So we are working towards that, we have another 11 months to go," Thiagarajan said. To woo customers in its fold, Blue Star, which launched a new range of over 100 affordable and premium models of AC on Tuesday, plans to invest over Rs 40 crore in advertising during the summer season. Blue Star is witnessing a significant demand coming from the burgeoning middle-class consumers with higher disposable incomes and the category becoming more of a necessity than a ...

Blue Star expects 25% growth in sales of residential AC in June quarter
Updated On : 09 Apr 2024 | 7:36 PM IST

Blue Star bets big on 'harsh' summer to cross 1 million mark in sales

'Rural markets key growth driver, contributing to 65% sales'

Blue Star bets big on 'harsh' summer to cross 1 million mark in sales
Updated On : 04 Mar 2024 | 6:13 PM IST

Blue Star Q3 results: Profit jumps to Rs 100 cr on strong festive demand

The company posted a consolidated net profit of Rs 100 crore ($12 million) for the three months ended Dec. 31, up nearly 72% from last year. Revenue from operations rose about 25%

Blue Star Q3 results: Profit jumps to Rs 100 cr on strong festive demand
Updated On : 30 Jan 2024 | 4:59 PM IST