India · Delayed Price · Currency is INR Blue Star Earnings Call Transcripts
Fiscal Year 2026
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Q4 FY 2026 delivered record revenue despite a challenging year, with improved margins and strong order inflow. FY 2026 net profit declined YoY, and margin pressure is expected to persist in FY 2027 due to rising input costs and volatile market conditions.
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Q3 FY 2026 delivered modest revenue growth and stable margins, with room air conditioners showing early signs of revival and cost controls supporting profitability. FY 2027 is expected to see stronger growth, especially in room air conditioners, despite ongoing cost pressures and market uncertainties.
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Q2 FY26 saw modest growth despite weak demand, high inventory, and GST disruptions. Margins improved year-over-year, but full-year growth is expected to be flat or slightly negative, with inventory liquidation and weather risks persisting. Long-term outlook remains positive.
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Q1 FY 2026 saw modest revenue growth but a sharp profit decline due to weak room air conditioner sales from unseasonal rains, while B2B segments and order book remained strong. Management expects a demand revival during the festive season and targets 10%-15% growth in room air conditioners for the year.
Fiscal Year 2025
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FY 2025 saw record revenue and profit growth, with strong gains in room AC and project segments, improved margins, and a robust order book. Regulatory and weather challenges impacted some areas, but outlook remains positive with continued investments and market share gains.
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Q3 FY 2025 saw 25% revenue growth and 32% net profit growth, driven by strong demand in room air conditioners and unitary products, with margins expanding across key segments. The order book reached a record high, and the company remains optimistic for Q4 despite supply chain and cost headwinds.
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Q2 FY25 delivered strong revenue and profit growth, led by robust performance in room air conditioners and commercial air conditioning, while commercial refrigeration faced temporary regulatory setbacks. Guidance for FY25 remains unchanged, with continued investments in R&D and capacity expansion.
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Q1 FY 2025 delivered strong revenue and profit growth, driven by exceptional summer demand and improved margins. The order book remains robust, with positive outlook for the year, though supply chain and geopolitical risks persist. CapEx and investments are on track.