Interim report
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BLUE STAR 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 secretarialdesk@bluestarindia.com www.bluestarindia.com August 6 , 2026 BSE Limited Phiroze Jeejeebhoy Towers , Dalal Street , Mumbai - 400 001 BSE Scrip Code : 500067 Dear Sir / Madam , National Stock Exchange of India Ltd Exchange Plaza , C - 1 , Block G , Bandra Kurla Complex , Bandra ( East ) , Mumbai 400 051 - Sub .: Outcome of the Board Meeting under Regulation 30 of Securities and Exchange Board of India ( Listing Obligations and Disclosure Requirements ) Regulations , 2015 ( the ‘ Listing Regulations ' ) With reference to our letter dated June 30 , 2026 , and in accordance with Regulation 30 of the Listing Regulations , we hereby inform you that the Board of Directors at its Meeting held today , i.e. , Thursday , August 6 , 2026 , have , inter alia , transacted the following businesses : 1. Financial results Approved and taken on record the Un - audited Standalone and Consolidated Financial Results of the Company for the First Quarter ended on June 30 , 2026 , along with the Limited Review Reports , as required under Regulation 33 ( 3 ) of the Listing Regulations . The copies of the aforesaid Financial Results issued by the Company are enclosed herewith . 2. Appointment of Mr Nikhilesh Panchal as an Independent Director Based on the recommendations of the Nomination and Remuneration Committee and subject to the approval of the Shareholders of the Company , the Board of Directors have , approved appointment of Mr Nikhilesh Panchal ( DIN : 00041080 ) , as an Additional Director designated as an Independent Director for a term of five consecutive years commencing from August 14 , 2026 . The Company shall seek the approval of the Shareholders through Postal Ballot . The details for appointment of Independent Director as required under Para A of Part A of Schedule III of Listing Regulations read with SEBI Master Circular No. HO / 49 / 14 / 14 ( 7 ) 2025 - CFD - POD2 / 1 / 3762 / 2026 dated January 30 , 2026 ( as amended ) are enclosed as ' Annexure - II ' . Registered Office : Kasturi Buildings , Mohan T Advani Chowk , Jamshedji Tata Road , Mumbai 400 020 , India . T : +91 22 6665 4000 CIN : L 28920MH1949PLC 006870
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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 : secretarialdesk@bluestarindia.com www.bluestarindia.com Registered Office: Kasturi Buildings, Mohan T Advani Chowk, Jamshedji Tata Road, Mumbai 400 020, India. T: +91 22 6665 4000 CIN: L 28920MH1949PLC 006870 The meeting commenced at 10:00 a.m. and concluded at 2:15 p.m. Kindly take the same on record. The above information is also being made available on the website of the Company at www.bluestarindia.com Thanking you, Yours faithfully, For Blue Star Limited Rajesh Parte Company Secretary & Compliance Officer Membership No.: A10700 Encl.: a/a Z:\(01) Blue Star Limited\2026-27\Stock Exchange Compliances\Reg 30 - Information & Updates\2. Outcome of BM\2. August 6, 2026\BSLBMOutcome06082026.docx
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Deloitte Haskins & Sells LLP Chartered Accountants One International Center, Tower 3, 31st Floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai - 400 013, Maharashtra, India Phone: +91 22 6185 4000 Fax: +91 22 6185 4101 INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERI M CONSOLIDATED FINANCIAL RES ULTS TO THE BOARD OF DIRECTORS OF BLUE STAR LIMITED 1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of Blue Star Limited ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), and its share of the net loss after tax and tota l comp rehensive loss of its joint ventures for the quarter ended June 30, 2026 ("the Statement") being submitted by the Parent pursuant to the requ irement of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requireme nts) Regulations, 2015, as amended (the "LODR Regulations"). 2. This Statement, wh ich is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been pre pared in accordance with the recognition and measu remen t principles laid down in the Indian Accounting Standard 34 "I nterim Financia l Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued the reunder and other account ing principles generally accepted in India and in comp liance with Regulation 33 and Regulation 52 of the LODR Regulations. Our responsibil ity is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Rev iew of Interim Financia l Information Performed by the Independent Audito r of the Entity", issued by the Institute of Chartered Accountants of India (ICA I). A review of interim financia l information consists of making inquiries, primarily of Parent 's personne l responsible for financia l and accounting matters , and applying analytical and othe r review procedures. A review is substantial ly less in scope th an an audit conducted in accordance with Standards on Auditing specified unde r Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also perfo rmed proce dures in accordance with t he circular issued by the SEBI under Regulation 33(8) of the LODR Regulations , to t he extent applicable. 4. The Statement includes the results of the following entities: Parent: Blue star Limited Subsidiaries: a. Blue Star Engineering & Electronics Limited b. Blue Star Climatech Limited c. Blue Star Qatar W.L.L. d. Blue Sta r Internatio nal FZCO e. Blue Sta r MEA A1rconditioni ng LLC f. BSL AC&R (Singapore) Pte. Ltd. g. Blue Sta r North America Inc . h. Blue Star Europe B.V. i. Blue Star Innovation Japan LLC j. Blue Star Air Conditioning & Refrigeration (U) Limited Joint Ventu res: a. Blue Star M & E Enginee ring Sdn Bhd b. Blue Star Oman Electro-Mechan ical Company LLC
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Deloitte Haskins & Sells LLP 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounti ng Standard and othe r accounting principles generally accepted in India, has not disclosed the informa tion required to be disclosed in terms of Regulation 33 and Regulation 52 of the LODR Regulations , including the manner in which it is to be disclosed , or that it contains any material misstatement . 6. We did not review the interim financial information I financial results of five subsidiaries included in the unaudited consolidated financial results whose interim financial information I financial results reflect total revenue s of z 235 .17 crore for the quarter ended June 30, 2026 , tota l net profit after tax of z 10.08 cro re for the quarter ended June 30, 2026 and total comprehensive income of z 10.08 crore for the quarter ended June 30, 2026 , as considered in the Statement. These interim financ ial info rmat ion I financial results have been review ed by other auditors whose reports have been furn ished to us by such other auditor and our conclus ion on the Statemen t, in so far as it relates to the amounts and disclosures included in respect of these subsidia ries, is based solely on the reports of such other auditors and the procedu res performe d by us as stated in paragraph 3 above. These subsidiaries are located outside India whose financ ial information I financial result s have been prepared in accordance with accounting princip les generally accepted in their respective countries and have been reviewed by their respective audito rs under generally accepted auditing standards on review engagements appl icable in their respective count ries. The Company's management has convert ed the inter im financial information I financ ial results of these subsidiaries from accounting principles generally accepted in respective countries to accounting principles generally accepted in Ind ia. We have reviewed, as applicable, these conversio n adjustments made by the Company's management. Our conclusion on the Statement, in so far as it relates to t he amounts and disclosures included in respect of these subsidiaries , is based solely on the repo rts of the other auditors , the conversion adjustments prepared by the Management of the Company and reviewed by us, and the procedures perfor med by us as state d in paragraph 3 above. Our conclusion on the Statement is not modified in respect of t hese matters. 7. The consolidated unaud ited financial results includes the unaudited financ ial information I financial result of one subsidiary which have not been revie wed by its auditor , whose financial information I financial result reflects total revenue of z Nil crore for t he quarter ended June 30, 2026 , total net loss after ta x of z Nil crore for the quarter ended June 30, 2026 and total comp rehensive loss of z Nil crore for the quarter ended June 30, 2026 , as considered in the Statement . The consolidated unaudited financial results also includes (i) the Group 's share of net loss after tax of z 0.20 crore for the quarter ended June 30, 2026 and total comprehensive loss of z 0.20 crore for the quarter ended June 30, 2026, as considered in the Statement, in respect of a joint venture based on its interim financial information I financial results, and (ii ) the Group's share of profit I (loss) after tax of z Nil crore for the quarter ended June 30, 2026 and total comprehensive income of z Nil crore for the quarter ended June 30, 202 6, as considered in the Statement , in respect of a joint vent ure whose carry ing amount of investment is fully provided for by the Group. The financial information I finan cial resul ts of this subsidiary and joint ventures have not been reviewed by their auditors, as informed to us by the Management. According to the informat ion and explanations given to us by the Management, these interim financial information I financial results are not mate rial to the Group.
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Deloitte Haskins & Sells LLP Our Conclusion on the Statement is not modified in respect of our reliance on the interim financial information I financial results certifie d by the Management. Place: Mumbai Date: August 06, 2026 For DELOITTE HASKINS & SELLS LLP Chartered Accountants (Firm's Registration No. 117366W / W-100018 ) Ketan Vora Partner 1\5 (Membership No. 100459 ) UDIN:2G \00459VDOX-G-~3 \ \ s
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BLUE STAR BLUE ST AR LIMITED Registered Office : Kasturi Buildings, Mohan T. Advani Chowk , Jamshedji Tata Road, Mumba i 400 020, CIN No.: L28920MH1949PLC006870, Telephone No +91 22 6665 4000, Fax No. +91226665 4152 www .blu estarindia.com UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2026 ~ i n Crores QUARTER QUAR TER QUARTER YEAR ENDED Sr. ENDED ENDED ENDED (AUDITED) No. PARTICULARS (UNAUDITED) (UNAUDITED) (UNAUDITED ) (Refe r Note 3) 30.06.2026 31.03.2026 30.06.2025 31.03.2026 1 Income (a) Revenue from operations 3,377.92 4,072.06 2,982.25 12,401.99 (b) Other income 20.76 23.95 16.07 61 .91 Total Income 3,398.68 4,096.01 2,998.32 12,463.90 2 Expenses (a) Cost of materials consumed (including direct project and 2,141.33 2,478.96 2,077.76 8,410.89 seivice cost) (b) Purchase of stock-in-trade 492.96 293.23 352.38 1,235.35 (c) Changes in inventories of finished goods , stock-in-trade and 11.88 425.29 (145.96) (104.15) work-in-progress (d) Employee benefits expenses 249.41 235.20 232.36 918.13 (e) Finance cost 13.47 23.06 10.07 72.14 I (f) Depreciation and amortisation exoenses 56.62 48.23 41.35 178.79 (g) Other expenses 307.39 313.12 265.72 1,011.37 Total expenses 3,273.06 3,817.09 2,833.68 11,722.52 3 Profit before share of profit of joint ventures , exceptional items and tax 125.62 278.92 164.64 741.38 (1-2) 4 Share of profit I (loss) of joint ventures (0.20) 3.65 (1.41) 0.56 5 Profit before exceptional items and tax (3+4) 125.42 282.57 163.23 741.94 6 Exceptional items (refer note 2) 9.17 17.52 - (38.83) 7 Profit before tax (5+6) 134.59 300.09 163.23 703.11 8 Tax expense (a) Current tax 29.03 48.33 45.21 157.82 (b) Deferred tax charge I (credit) 3.05 24.58 (2.80) 17.96 Total tax expense 32.08 72.91 42.41 175.78 9 Profit for the oeriod I vear 17 -8) 102.51 227.18 120.82 527.33 10 Other comprehensive income I (loss) (a) Items that will not be reclassified to profit I (loss) (1.04) (2.43) (0.56) (2.13) Income tax relating to items that will not be reclassified to 0.26 0.64 0.13 0.60 profit I (loss) (b) Items that will be reclassified to profit I (loss) (0.95) 7.49 2.20 17.77 Income tax relating to items that will be reclassified to - - - - profit/ (loss) Other comprehensive income I (loss) (1.73) 5.70 1.77 16.24 11 Total comprehensive Income for the period I year (9+10) 100.78 232.88 122.59 543.57 12 Profits for the period I year attributable to : - Owners of the Company 102.50 227.05 120.96 527.68 - Non-controlling interest 0.01 0.13 (0.14) (0.35) 13 Other comprehensi ve income I (loss ) for the period I year attributable to - Owners of the Company (1 .73) 5.56 1.76 15.98 - Non-controlling interest - 0.14 0.01 0.26 14 Total comprehensive income for the period I year attributable to : - Owners of the Company 100.77 232.61 122.72 543.66 - Non-controlli ng interest 0.01 0.27 (0.13) (0.09) 15 Paid up equity share capital (face value of the share - ~ 2/- each) 41.12 41.12 41 .12 41.12 16 Earnings per share (EPS) (in ~) (not annualised for quarters) (a) Basic 4.99 11.05 5.88 25.65 (b) Diluted 4.99 11.05 5.88 25.65 17 Reseiv e excluding revaluation reseives as per balance sheet of previous 3,390.29 accountinci vear - ~~~·~~,~ /, <;,~lj~ 7~) Cs "' (~ ~ J) ~ MUMBAI ~ 'S ~ lfiuMe f>-' ~~A~ -
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BLUE STAR BLUE STAR LIMITED Registered Office : Kasturi Buildings , Mohan T. Advani Chowk , Jamshedji Tata Road, Mumbai 400 020, CIN No.: L28920MH1949PLC006870, Telephone No +91 22 6665 4000, Fax No. +91 22 6665 4152 www.bluestarindia .com Additional information pursuant to Regulation 52(4) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended as at and for the quarter ended June 30, 2026. QUARTER QUARTER QUARTER YEAR ENDED ENDED ENDED ENDED (AUDITED) Sr. PARTICULARS (UNAUDITED) (UNAUDITED) (UNAUDITED ) No. (Refer Note 3) 30.06.2026 31 .03.2026 30.06.2025 31.03.2026 1 Debt equity ratio 0.00 0.18 O.o7 0.18 (Total debt [non-current borrowings + current borrowings] I equity} 2 Debt service coverage ratio (DSCR) (not annualised for quarters ) 29.23 19.33 74.83 19.09 (Earnings before interest and tax I [interes t expenses + principal repayments made during the period for long term loans]) 3 Interest servi ce coverage ratio (ISCR) (not annualis ed for quarter s) 29.23 19.33 74.83 19.09 (Earnings before interest and tax I interest expenses) 4 Capital redemption reserve (' in Crores) 2.34 2.34 2.34 2.34 5 Net worth(~ in Crores) 3,533.72 3,430.81 3,188.81 3,430.81 (As per section 2(57) of the Companies Act, 2013) 6 Current ratio 1.36 1.31 1.33 1.31 (Current assets I current liabilities) 7 Bad debts to account receivable ratio - 0.01 - 0.01 (Bad debts I average gross account receivable) 8 Current liability ratio 0.94 0.95 0.95 0.95 (Current liabilities I total liabilities) 9 Total debt to total assets 0.00 0.07 0.03 0.07 (Total debt [non-current borrowings +current borrowings] I total assets) 10 Debtors turnover (no. of days ) 52.55 42.69 52.91 60.32 (Average debtors for the period I turnover for the period X number of days in reporling period) 11 Inventory turnover (no. of days) 72.95 67.93 86.81 82.53 (Average inventory for the period I cost of goods sold for the period X number of days in reporling period) 12 Operating margin (%) 5.18% 8.01% 6.71 % 7.50% (Operating EBITDA [profit before tax - other income + finance charges + depreciation] I revenue from operations X 100) 13 Net profit margin( %) 3.02% 5.55% 4.03% 4.23% (Profit I (loss) for the period I total income X 100)
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BLUE STAR BLUE ST AR LIMITED Registered Office : Kasturi Buildings , Mohan T. Advani Cho wk, Jamshedji Tata R oad , Mumbai 400 020 , CIN No. : L28920MH1949PLC006870 , Telephone No +91 22 6665 4000, Fax N o. +91 22 6665 4152 www .bluestarindia .com SEGMENT WISE REVENUE , RESULTS & ASSETS AND LIABILITIES FOR THE QUARTER ENDED JUNE 30, 2026 ~ In Crores Consoli dated QUARTER QUARTER QUARTER YEAR ENDED Sr. ENDED ENDED ENDED (AUDITED) No. PARTICULARS (UNAUDITED) (UNAUDITED) (UNAUDITED) {Refer Note 3) 30.06.2026 31.03.2026 30. 06.2025 31.03 .2026 I SEGMENT REVENUE (a) Electro - mechanical projects and commercial air conditioning systems 1.625.05 1,989.92 1.412.46 6,762 .80 (b) Unitary products 1,689.31 1,984 .96 1,499.37 5,332 .36 (cl Professional electronics and industrial svstems 63.56 97. 18 70.42 306 .83 TOTAL SEGMENT REVENUE 3,377. 92 4,072.0 6 2,982.25 12,401.99 II SEGMENT RES UL TS PROFIT BEFORE INTEREST & TAX (a) Electro - mechanical projects and commercial air conditioning systems 110.22 128.49 111.62 501.91 (b) Unitary products 49.69 206.98 87.47 434 .82 (c) Professional electronics and industrial systems 9.57 14.27 7.62 34.89 TOTAL SEGMENT RESULT 169.48 349.74 206.71 971.62 Less: i) Interest and other financial charges 13.47 23.06 10.07 72.14 ii) Un-allocable expenditure 30.39 47.76 32.00 158.10 TOTAL PROFIT BEFORE SHARE OF PROFIT I (LOSS) OF JOINT VENTURE, 125.62 278 .92 164.64 741 .38 TAXATION AND EXCEPTIONAL ITEMS Share in profit I (loss) of joint ventures (0.20) 3.65 (1.41) 0.56 Exceptional items 9.17 17.52 - (38.83) PROFIT BEFORE TAX 134.59 300.09 163 .23 703 .11 Ill SEGMENT ASSETS (a) Electro - mechanical projects and commercial air conditioning systems 3.859.70 3,690. 38 3,572.59 3,690.38 (b) Unitary products 2,750.62 3, 169.17 2,652.65 3,169.17 (c) Professional electronics and industrial systems 151.44 154.34 165.10 154.34 l!dl Un-allocable corporate assets 1.492.08 1,562.09 1,297.02 1,562 .09 TOTAL SEGMENT ASSETS 8,253.84 8,5 75.98 7,687.36 8,575.98 IV SEGMENT LIABILITIES (a) Electro - mechanical projects and commercial air conditioning systems 2,643 .60 2,607 .56 2.476.17 2,607 .56 (b) Unitary products 1,517.86 1.415 .25 1,243 .69 1,41 5.25 (c) Professional electronics and industrial systems 142.33 151.14 135.26 151.14 (dl Un-allocable corporate liabilities 413.27 968 .17 640.37 968.17 TOTAL SEGMENT LIABILITIES 4,717.06 5,1 42.1 2 4,495.49 5,142.12 Note : a. Based on the "management approach " as defined in Ind AS 108-0perating Segments , the Chief Operating Decis ion Maker evaluates the Group's performance and allocates resources based on an analys is of various perfor mance indicators by bus iness segments . Accordingly , information has been presented along these business segments . b. Unit ary product segment is seasonal in nature. c. Previous periods ' I year's figures have been regrouped I rearranged wherever necessary . ~c;,1'.INS4 -..._'<. Rf>. J'<'(: @ ~ v. s ,... ~ MUMBAI t;; I ~ ~0 ~ ) * * ~f"9£D A~'.;f ~4i x,~ --
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NOTES: BLUE STAR BLUE STAR LIMITED Reg istered Office : Kasturi Buildings , Mohan T. Advani Chow k, Jamshedji Tata Road , Mumbai 400 020, CIN No.: L28920MH1949PLC006870, Telephon e No +91 22 6665 4000, Fax No. +91 22 6665 4152 Website : www.bluestarindia.com UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2026 These consolidated financial results have been prepared in accordance with the recognition and measurement principles under Ind AS as prescribed under Section 133 of the Companies Act. 2013 read with the relevant rules issued thereunder and the other accounting principles generally accepted in India. 2 Blue Star Limited has recognised profit on sale of property of~ 9.17 Crores reported as exceptional income in the financial results for the quarter ended June 30, 2026. 3 Figures for the quarter ended March 31. 2026 are balancing figures between audited figures in respect of the year ended March 31, 2026 and unaudited figures upto the third quarter ended December 31 , 2025 which were subjected to limited review. 4 In compliance with Regulation 33 and 52 of the SEBI (Listing Obligations & Disclosure Requirements ) Regulations , 2015, a limited review of the above results has been carried out by the Statutory Auditors. 5 The Audit Committee has reviewed and the Board of Directors has approved the above results at their respective meetings held on August 05, 2026 and August 06, 2026. 6 Previous periods' I year's figures have been regrouped I rearranged wherever necessary . For BLUE STAR LIMITED Date : August 06, 2026 Place : Mumbai Vir S. Ad vani Chairman and Managing Direc tor (DIN : 01571278)
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Deloitte Haskins & Sells LLP Chartered Accoun tants One Internat ional Center, Tower 3, 31st Floor, Senapati Bapat Marg, Elphinstone Road (West ), Mumbai - 400 013, Maharashtra, India Phone: +91 22 6185 4000 Fax: +91 22 6185 4101 INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL RESULTS TO THE BOARD OF -DIRECTORS OF BLUE STAR LIMITED 1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of Blue Star Limited ("the Company"), for the quarter ended June 30, 2026 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requir.ements) Regulat ions, 2015 , as amended (" the LODR Regulations "). 2. This Statement, which is the responsibility of the Company 's Management and appr oved by the Company's Board of Directors, has been prepared in accordance with the recognition and measure ment principles laid down in the Indian Accounting Standard 34 "Interim Financial Report ing" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued t hereunder and other accounting principles generally accepted in India and in comp liance wit h Regulation 33 and Regulation 52 of the LODR Regulations . Our responsibility is to exp ress a conclusion on the Statement based on our review . 3. We conducted our review of the Statement in accordance with the Standard on Review Engageme nts (SRE) 2410 'Review of Interim Financial Information Performed by the I ndepende nt Audito r of t he Entity', issued by the Institute of Chartered Accountants of India (!CAI). A revi ew of interim financial informati qn consists of making inquiries, primarily of the Compan y's personnel responsible for financial and accounting matters and applying analytical and other review proced ures. A revi ew is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified und er secti on 143 (10) of the Companies Act, 2013 and consequently does not enable us to obtain assura nce that we would become aware of all significant matt ers that might be ident ified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review cond ucted as stated in paragraph 3 above, nothing has come to ou r attent ion that causes us to believe that the accompanying Statement , prepared in accordance with t he recog nitio n and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India , has not disclosed t he informat ion required to be disclosed in term s of Regulation 33 and Regulation 52 of the LODR Regulations , including the manne r in which it is to be disclosed , or that it contains any material misstate ment. Place: Mumbai Date : August 06, 2026 For DELOITTE HASKINS & SELLS LLP .... Charte red Accountants ( Firm's Regist ration No. 1173 66W/W -10 00 18) Ketan Vora I\? Partner ( Members hip No. 100459) UDIN: Zb'\ ODL.69 L-?XVZU21-1-f; Regd. Office . One Internat ional Center, Tower 3, 31" Floor, Senapat i Bapat Marg, Elphinstone Road (West ), Mumbai - 400 013, Maharashtra, India. (LLP Identification No. AAB-8737)
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Sr. No. 1 2 3 4 5 6 7 8 9 10 11 12 BLUE STAR BLUE STAR LIMITED Registered Office : Kasturi Buildings , Mohan T. Advani Chowk , Jamshedji Tata Road , Mumbai 400 020 , CIN No.: L28920M H1949PLC006870 , Telephone No +91 22 6665 4000 , Fax No. +91 22 6665 4152 www.bluestarindia.com UNAUDITED STANDALONE FINANC IAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2026 QUARTER QUARTER QUARTER ENDED ENDED ENDED PARTICULARS (UNAUDITED) (UNAUDITED) (UNAUDITED) (Refer Note 3) 30.06.2026 31.03.2026 30.06.2025 Inco me (a) Revenue from operations 3,198.27 3,862.88 2,846.63 (b) Other income 16.12 21.12 15.83 Total income 3,214.39 3,884.00 2,862.46 Expenses (a) Cost of materials consumed (including direct project and 1,699.25 2,007.94 1,669.78 service cost) (b) Purchase of stock-in-trade 873.19 696.36 753.00 (c) Changes in inventories of finished goods, stock-in-trade and (0.70) 432.43 (186.50) work-in-progress (d) Employee benefits expenses 210.07 197.24 191.75 (e) Finance cost 12.90 23.63 11.49 I lfl Deoreciation and amortisation exoenses 46.79 38.52 32.27 (g) Other expenses 288.86 282.64 244.00 Total expenses 3,130.36 3,678.76 2,715.79 Profit before exceptional Items and tax 11 -2) 84.03 205.24 146.67 Exceptional items (refer note 2) 9.17 16.54 - Profit before tax 13+4) 93.20 221.78 146.67 Tax expense (a) Current tax 19.11 36.48 36.69 (b) Deferred tax charge I (credit) 4.73 22.37 1.42 Total tax expense 23.84 58.85 38.11 Profit for the period I vear (5-6) 69.36 162.93 108.56 Other comprehensive income I (loss) (a) Items that will not be reclassified to profit I (loss) (0.98) (2.56) (0.54) Income tax relating to items that will not be reclassified to 0.25 0.65 0.13 profit I (loss) Other comprehensive income I (loss) (0.73) (1.91) (0.41) Total comprehensive income for the period I year (7+8) 68.63 161.02 108.15 Paid up equity share capital (face value of the share - ~ 21- each) 41.12 41 .12 41 .12 Earnings per share (EPS) (in ') (not annualised for quarters) Cal Basic 3.37 7.92 5.28 (b) Diluted 3.37 7.92 5.28 Reserve excluding revaluation reserves as per balance sheet of previous accounting year ~in Crores YEAR ENDED (AUDITED) 31 .03.2026 11,779.23 54.94 11,834.17 7,056.35 2,420.44 (1 16.81) 771 .84 75.85 142.15 924.70 11,274.52 559.65 (37.19) 522.46 121.98 15.38 137.36 385.10 (2.42) 0.61 (1 .81 ) 383.29 41 .12 18.73 18.73 3,019.23
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BLUE STAR BLUE STAR LIMITED Registered Office : Kasturi Buildings , Mohan T. Advani Chow k, Jamshedj i Tata Road , Mumba i 400 020 , CIN No.: L28920MH1949PLC006870 , Telephone No +91 22 6665 4000 , Fax No. +91 22 6665 4152 www .bluestarindia.com Addit ional information pursuant to Regulation 52(4) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements ) Regulations , 2015 , as amended as at and for the quarter ended June 30, 2026. QUARTER QUARTER QUARTER YEAR ENDED ENDED ENDED ENDED (AUDITED) Sr. PARTICULARS (UNAUDITED) (UNAUDITED) (UNAUDITED) No. (Refer Note 3) 30.06.2026 31.03.2026 30.06.2025 31.03.2026 1 Debt eQuitv ratio - 0.24 0.11 0.24 (Total debt [non-current borrowings + current borrowings] I equity) 2 Debt service coverage ratio (DSCR) (not annualis ed for quarter s) 18.04 13.04 33.67 12.54 (Earning s before interest and tax I {interest expenses +princip al repayments made during the period for long term loans]) 3 Interest service coverage ratio (ISCR) (not annuali sed for 18.04 13.04 33.67 12.54 quarters ) (Earnings before interest and tax I interest expenses) 4 Capital redemption reserve I' in Crores) 2.34 2.34 2.34 2.34 5 Net worth (' in Crores) 3,130.60 3,059.75 2,963.82 3,059.75 (As per section 2(57) of the Companies Act, 2013) 6 Current ratio 1.24 1.20 1.24 1.20 (Current assets I current liabilities) 7 Bad debts to account receivable ratio - 0.01 - 0.01 (Bad debts I average gross account receivable) 8 Current liability ratio 0.94 0.96 0.96 0.96 (Current liabilities I total liabilities) 9 Total debt to total assets ratio - 0.09 0.04 0.09 (Total debt [non-current borrowings + current borrowings] I total assets) 10 Debtors turno ver (No. of davsl 49.25 40.47 50.18 58.36 (Average debtors for the period I turnover for the period X number of days in reporting period) 11 Inventory turno ver (No. of days) 65.78 60.05 75.19 70.82 (Average inventory for the period I cost of goods sold for the period X number of days in reporting period) 12 Operating margin (%) 3.99% 6.38% 6.13% 6.14% (Operating EB/TOA [profit before tax - other income + finance charges + depreciation] I revenue from operations X 100) 13 Net profit margin (%) (Profit I (loss) for the period I total income X 100) 2.16% 4.19% 3.79% 3.25% '1'-~':>~INS <f "::>'<\.P..R l..1 .... ~ K!> J'<(: ~ v ® <::> .... lg MUMBAI ~ l ~ R"- ~ l * * ~~~!: * * 1iuMe t>-' - -
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NOTES: ~ BLUE STAR BLUE STAR LIMITED Registered Offic e : Kasturi Buildings , Mohan T. Advani Chowk, Jamshe dji Tata Road, Mumbai 400 020, CIN No.: L28920MH1949PLC0068 70, Telephone No +91 22 6665 4000, Fax No. +91 22 6665 4152 www.bluestarindia .com UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2026 1 These standalone financial results have been prepared in accordance with the recognition and measurement principles under Ind AS as prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and the other accounting principles generally accepted in India. 2 The Company has recognised profit on sale of property of~ 9.17 Crores reported as exceptional income in the financial results for the quarter ended June 30, 2026. 3 Figures for the quarter ended March 31 , 2026 are balancing figures between audited figures in respect of the year ended March 31, 2026 and unaudited figures upto the third quarter ended December 31, 2025 which were subjected to limited review. 4 In compliance with Regulation 33 and 52 of the SEBI (lis ting Obligations & Disclosure Requirements) Regulations, 2015, a limited review of the above results has been carried out by the Statutory Auditors. 5 The Audit Committee has reviewed and the Board of Directors has approved the above results at their respective meetings held on August 05, 2026 and August 06, 2026. 6 Previous period's I year's figures have been regrouped I rearranged wherever necessary. Date : August 06, 2026 Place : Mumba i For BLUE STAR LIMITED Vir S. Advani Chairman and Managin g Director (DIN : 01571278)
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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 : secretarialdesk@bluestarindia.com www.bluestarindia.com Registered Office: Kasturi Buildings, Mohan T Advani Chowk, Jamshedji Tata Road, Mumbai 400 020, India. T: +91 22 6665 4000 CIN: L 28920MH1949PLC 006870 Annexure – II Details as required under the Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 Appointment of Mr Nikhilesh Panchal as an Independent Director Sr. No. Particulars Description 1 Reason for change viz. appointment, re-appointment, resignation, removal, death or otherwise Appointment of Mr Nikhilesh Panchal (DIN: 00041080), as an Additional Director designated as an Independent Director for a term of five consecutive years commencing from August 14, 2026, subject to the approval of the Members of the Company. 2 Date of appointment/ re-appointment/cessation (as applicable) & term of appointment / re-appointment Date of appointment: August 14, 2026 Term: For a term of five consecutive years commencing from August 14, 2026 3 Brief profile Mr Nikhilesh Panchal is a practicing lawyer with more than 35 years of experience. He is registered Advocate with Bar Council of Maharashtra & Goa and a registered Solicitor with the Bombay Incorporated Law Society and Law Society of England & Wales, United Kingdom. He is also a registered Patent and Trademark Attorney. Mr. Panchal holds master’s degree in law. Mr Nikhilesh is a partner at M/s Khaitan & Co since 2005. Prior to that Nikhilesh was partner at M/s Little & Co. Mr Nikhilesh has rich experience in Corporate & Commercial laws and in particular acquisitions, mergers and amalgamations, capital market transaction including primary market transactions involving domestic and international capital raising process by Indian companies and secondary market transactions, includ ing takeover; buyback, delisting and capital reduction. Nikhilesh also has substantial
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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 : secretarialdesk@bluestarindia.com www.bluestarindia.com Registered Office: Kasturi Buildings, Mohan T Advani Chowk, Jamshedji Tata Road, Mumbai 400 020, India. T: +91 22 6665 4000 CIN: L 28920MH1949PLC 006870 experience in foreign collaborations, joint ventures and technology transfers involving Intellectual Property, related rights matters and disputes thereunder. He also ha s experience in matters connected to procedures under Foreign Exchange Management Act (FEMA). 4 Disclosure of relationships between directors (in case of appointment of a director) Mr Nikhilesh is not related to any other Director. 5 Information as required under BSE circular Number LIST/COM/14/2018-19 and NSE circular no. NSE/CML/2018/24 dated June 20, 2018 Mr Nikhilesh is not debarred from holding the office of Director pursuant to SEBI Order or Order of any such authority.