About the Company

Blue Star Limited is India’s leading air conditioning, commercial refrigeration, and MEP (Mechanical, Electrical, Plumbing, and Fire-fighting) contracting company, founded in 1943 by Mr. Mohan T Advani. The company’s integrated model spans manufacturing, EPC services, and after-sales service, enabling comprehensive solutions across residential, commercial, and infrastructure segments, with extensions into water and air purification, engineering facilities management, commercial kitchen, and healthcare refrigeration solutions . Blue Star operates under its flagship “Blue Star” brand while managing its professional electronics and industrial solutions through Blue Star Engineering & Electronics Limited, a wholly owned subsidiary that distributes MedTech, data security, and industrial products and runs a diagnostics equipment warehouse and customer experience centers in India .

Global presence is anchored by subsidiaries across the Middle East, North America, Europe, Africa, and Asia, including entities in Qatar, UAE, Singapore, USA, Japan, the Netherlands, and Uganda, complementing the company’s India base.

The company’s core portfolio includes room air conditioners; central air-conditioning systems such as chillers and VRF systems; commercial refrigeration; and professional electronics and industrial systems, alongside EPC-led electro-mechanical projects and service offerings.

Business Segments

Blue Star reports three operating segments:
– Electro-Mechanical Projects and Commercial Air Conditioning Systems
– Unitary Products
– Professional Electronics and Industrial Systems

Industries served
– The projects business serves factories, data centres, shopping malls, hospitals, railways, and office complexes; recent data centre repeat orders and selective bidding supported growth in FY25 .
– In central air conditioning, the company refreshed product positioning, expanded channels, and launched centrifugal, data centre, and brine chillers, as well as residential VRF systems, building share across education, hospitality, retail, and Government sectors. It retained leadership in ducted air conditioning and held approximately 20% share in VRF systems and screw chillers, with dominant positions of about 50% in ducted systems and 45% in scroll chillers .

Revenue by Geography (FY25)
– India: ₹11,192.49 crores
– Outside India: ₹775.16 crores
– Total: ₹11,967.65 crores

Revenue by Industry Vertical (FY25, by business segment)
– Unitary Products: 50%
– Electro-Mechanical Projects and Commercial Air Conditioning Systems: 49%
– Professional Electronics and Industrial Systems: 3%

Key Management

– Vir S Advani, Chairman & Managing Director.
– B Thiagarajan, Managing Director operations.
– P V Rao, Executive Director.

Latest Updates

FY25 was a landmark year marked by revenue growth and market share gains across all segments, driven by robust demand in Commercial Air Conditioning, strong Electro-Mechanical project execution, and momentum in Room Air Conditioners and Commercial Refrigeration.

The company advanced its product portfolio with new centrifugal chillers, data centre chillers, brine chillers, and residential VRF systems, and deepened presence in education, hospitality, retail, and Government projects while retaining leadership positions in key categories.

The aggregate order book as at March 31, 2025 stood at ₹6,263 crores, with around 62% expected to convert to revenue within the next year. During the year, marquee clients in the projects business included ST Telemedia, Apollo Hospitals, Amazon Web Services, CapitaLand, Indian Railways, Carl Zeiss, and Michelin .

On sustainability and governance, Blue Star in its Business Responsibility and Sustainability Report with reasonable assurance on BRSR Core from Intertek India Private Limited, and disclosed that 73.48% of turnover arises from manufacturing/trading/after-sales of cooling appliances and central air-conditioning projects, and 26.52% from project execution and related services . R&D expenditure for the year was ₹139.50 crores, reflecting continued investment in innovation and product development .