Blue Star Share Price Live

Blue Star was founded in 1943 by Mohan T. Advani as a proprietorship firm. It was started as a modest 3-member team engaged in the reconditioning of air conditioners and refrigerators. The company expanded its operations and was established as Blue Star Engineering Company Private Limited in 1949.

In 1960, the company’s employee strength crossed the 1,000 mark, and it went public in 1969 after an IPO. Blue Start took up the all-India distributorship of Hewlett-Packard products in 1970, and its revenues touched the ₹10 crore mark during the same year. In 1978,  the company entered a joint venture with Al Shirawi in Dubai and executed some outstanding projects in Syria, Iraq and Saudi Arabia. The company focused on business through the acquisition of new businesses in 1990.

It surpassed the ₹500 crore milestone in 2000 and the ₹600 crore milestone in 2002-03. Blue Star forayed into the electrical contracting business by acquiring Bangalore-based Naseer Electricals Private Limited in 2008. It witnessed significant demand from the residential segment on the back of higher disposable income and the growing middle class during 2011-2015.

In 2017, the company expanded its international presence by establishing a wholly-owned subsidiary, Blue Star International FZCO, in Dubai, UAE. It won the ‘The Best Governed Company’ award at the ’19th ICSI National Awards for Excellence in Corporate Governance’ in 2020. Recently, in 2023, the company raised ₹1,000 crores through Qualified Institutional Placements to fund its growth plans.

Business Segments

• Electro-Mechanical Projects and Commercial Air Conditioning Systems: Under this segment, the company is primarily involved in designing, manufacturing, installing, commissioning and maintaining central air conditioning plants, packaged/ducted systems and Variable Refrigerant Flow (VRF) systems.
• Unitary Products: Under this segment, the company manufactures a wider range of contemporary and highly energy-efficient room air conditioners for both residential and commercial applications. 
• Professional Electronics and Industrial Systems: Blue Star acts as an exclusive distributor in India for many internationally renowned manufacturers of professional electronic equipment and services. It manages this business by Blue Star Engineering & Electronics Limited.

Subsidiary

As of March 31, 2023, the company had several subsidiaries and a few of them are listed below:

• Blue Star Engineering & Electronics Limited: It is a wholly-owned subsidiary that provides advanced technology products to the BFSI and healthcare sectors.
• Blue Star International FZCO: This wholly-owned subsidiary is engaged in the development and growth of Blue Star’s global products sales business and global projects business.

Key Personnel

Vir S Advani – Vice Chairman and Managing Director

Vir S Advani is the Vice Chairman and Managing Director of Blue Star Ltd. He joined Blue Star Infotech Ltd in 2000 after a 2-year working stint in private equity in New York.  Mr Advani was appointed as MD in 2016, promoted to Vice Chairman and redesignated as Vice Chairman and Managing Director in 2019. He is a Systems Engineering and Economics graduate from the University of Pennsylvania.

Corporate Action

In 2023, the company announced a bonus issue of shares in the ratio of 1:1 on a record date of June 29, 2023.