Blue Star Limited (500067) Fair Value & Analysis

Industrials · IN · Market cap ₹47.4B

Below-average quality, screening 135% undervalued on our models.

What matters now

• The price is below even our cautious bear case (₹2,650). The market is more pessimistic than our downside scenario.
• Solid quality (49/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 14, 2026.

How to read this chart

60‑month range ₹372.36 – ₹2,314 · fair‑value band ₹2,650 – ₹4,417 · the ₹1,507 price screens below the ₹3,534 fair value. Dashed = 300-day average. As of Aug 14, 2026.

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Analysis

Blue Star Limited (500067) currently trades at ₹1,507, while our model-based Fair Value estimate is ₹3,534, implying the stock looks roughly 134.5% undervalued today. The Quality Score stands at 49/100 (below-average quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Net debt stands at ₹2.6B. The stock trades on a trailing P/E of 33.0 (as of Aug 14, 2026). Fundamentals as of Aug 14, 2026

Our scenario range runs from ₹2,650 (bear case) to ₹4,417 (bull case); at ₹1,507, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 26% below its 52-week high and 4% above its 52-week low. For context, the median of 10 Industrials peers we cover trades at -23% fair-value upside, at 135%, 500067 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Growth Earnings (₹4,119) versus Asset-Based (₹731.50). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

Blue Star Limited engages in the central air conditioning and commercial refrigeration business in India and internationally. The company operates through Electro Mechanical Projects and Packaged Air-Conditioning Systems, Unitary Products, and Professional Electronics and Industrial Systems segments.

Full company description

Blue Star Limited engages in the central air conditioning and commercial refrigeration business in India and internationally. The company operates through Electro Mechanical Projects and Packaged Air-Conditioning Systems, Unitary Products, and Professional Electronics and Industrial Systems segments. The Electro Mechanical Projects and Packaged Air-Conditioning Systems segment designs, manufactures, installs, commissions, and maintains central air conditioning plants, packaged/ducted systems, and variable refrigerant flow systems; and provides contracting services in electrification, plumbing, and fire-fighting, as well as after-sales services, such as revamp, retrofit, and upgrade services. The Unitary Products segment offers room air conditioners for residential and commercial applications, as well as water purifiers, air coolers, and air purifiers; and manufactures and markets a range of commercial refrigeration products comprising deep freezers, visi coolers, ultra-low temperature freezers, water coolers, bottled water dispensers, cold rooms, bottle coolers, and ice machines, as well as cold chain equipment. The Professional Electronics and Industrial Systems segment engages in the distribution and maintenance of imported professional electronic equipment, and industrial products and systems. Blue Star Limited was founded in 1943 and is headquartered in Mumbai, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Blue Star Limited reported revenue of ₹123B in FY2025 versus ₹60.5B in FY2021, a compound +19.3%/yr. Reported net income was ₹5.3B in FY2025, compounding +33.2%/yr from FY2021.

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Peer Group

Machinery, Tools, Heavy Vehicles, Trains & Ships · 37 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.