India · Delayed Price · Currency is INR Blue Star Earnings Call Transcripts
Fiscal Year 2026
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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. Management expects a strong Q4 and FY 2027, with price hikes planned to offset rising costs and regulatory changes.
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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 margin pressure likely due to inventory liquidation before new energy norms.
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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 performance in room AC and project segments, while commercial refrigeration rebounded after regulatory headwinds. The company remains optimistic for FY 2026, supported by a robust order book and continued investments in R&D and localization.
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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.