BLUESTARCO / Q3-FY26 / claim-ledger

Audit the questions that mattered.

Blue Star · Analyst questions, management answers, and the quality of the response where the ledger is available.

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WatchQ3-FY26 · 2026-02-10Back to quarter ↗

Questions audited

Answered directly

77%

Numeric claims

Consistency

mixed

Question ledger

What was answered, and how?

Natasha Jan · Philip Capital

partial

How did Blue Star improve margins despite flat UCP topline and muted commercial business?

The margin improvement is basically our own decision not to get into discounting... we stopped producing the products in order that we won't be saddled with inventory... variable cost connected with the room air conditioner business we had been moderating ever since May 2025.

Natasha Jan · Philip Capital

direct

What is the net price increase to consumers after GST cut and other cost pressures?

I'm not categorically saying in the region of around 10% increase is inevitable.

Natasha Jan · Philip Capital

partial

How would Blue Star navigate a second consecutive bad summer?

The history shows that you will not have two consecutive summers like that... pent-up demand given that the category penetration is very low... weather proofing blue star is a program... B2B businesses as well like commercial refrigeration is not that seasonal dependent.

Rahul Lagarwal · Essets

direct

What is the medium-term growth outlook for segment one (EMP) and commercial refrigeration?

I will take it a c of around 8 to 10% then look at and revising it depending on how first 6 months of next fiscal goes.

Rahul Lagarwal · Essets

direct

What is the medium-term CAGR for commercial refrigeration?

the category is supposed to grow at a c of anywhere between 12 to 15%... you can take it 12 to 15% CG is a good modeling

Aneruda Joosi · IC Securities

partial

Which regions and product segments are driving UCP growth?

All regions have done well... the tire 345 are the ones which will continue to drive the growth... it is entry level value for money products.

Aneruda Joosi · IC Securities

evasive

What are the five-year KPIs for newly appointed executive director Mohit Sud?

The annual KAS are set by the NRC approved by the board... the broad drivers of the for the company will translate into KAS... growing faster than the market and gaining market share... margin guidelines... 8.5% ebit margin is absolutely important.

Sonali S · Jeff India

direct

What is the current inventory situation for air conditioners vs start of October?

my estimate is that it may 10 weeks for the industry and it may be lower for us... I think it may be five to 6 weeks is my estimate

Sonali S · Jeff India

partial

Can you bifurcate the 10% price hike between energy efficiency and input costs?

some 7% may be due to energy label change and you may have around 8 to 10% arising out of commodity then 10% reduction you have got in GST so therefore net I'm saying ballpark is 10%

Cayor Panda · ICC Predential AMC

direct

Is the 8.5% margin target for UCP achievable in Q4 and FY27 despite inflation?

Q4 of FI26 and the FI27 the margin outlook is 8.5%... it's above eight already in Q3 and Q4 irrespective of the summer season... 8.5 is doable.

Deepak · Unifi Capital

partial

What is driving the single-digit growth guidance for EMP and why do margins decline near project closure?

the entire thing is slow... the B2B business orderly inflow has been muted... infra projects takes many years... when it is moving towards the closure cost overrun can happen... margin will further come down.

Nshadi · Adita Bela Mutual Fund

direct

Should we expect margin improvement in EMP if commercial AC grows faster than infra projects?

the margins whether FI27 should be better than FI 26 that's what one can guess... the output for Q4 is 7% 6.5 to 7% closer to 7 maybe for segment one and it should be 8.5 for segment two that is the guideline.