Blue Star Ltd — Investor Presentation 2025

Jan 30, 2025

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January 30, 2025

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 BSE Scrip Code: 500067	National Stock Exchange of India Ltd Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051 NSE Symbol: BLUESTARCO

Dear Sir/Madam,

Sub: Investors’ Presentation for the Third Quarter and Nine Months ended December 31, 2024

Pursuant to Regulation 30(6) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the “Listing Regulations”) read with Part A of Schedule III of the Listing Regulations and in continuation to our letter dated January 15, 2025, we are enclosing herewith the Investors’ Presentation for the Third Quarter and Nine Months ended December 31, 2024.

This intimation is also being made available on the website of the Company at www.bluestarindia.com

Kindly take the same on record.

Thanking you, Yours faithfully, For Blue Star Limited RAJESH Digitally signed by RAJESH DIGAMBAR DIGAMBAR PARTE Date: 2025.01.30 PARTE 11:09:16 +05'30'

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Rajesh Parte Company Secretary & Compliance Officer

Encl: a/a

Z:(01) Blue Star Limited\2024-25\Stock Exchange Compliances\Reg 30 - Information and Update\11. Investor Presentation\Q3FY25

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Investor Presentation

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Q3 & 9M FY25

OUR VALUES

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VISION CREDO
“To dream, to strive, to care and, “I am Blue Star. I take pride in
above all to be the best in delivering a world-class customer
everything we do.” experience.”
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Snapshot
Key end-markets,
Air conditioning, Commenced operations
including Residential,
Refrigeration and MEP in 1943, with c. 80 years Commercial, Industrial,
solution provider of operations in India and Infrastructure.
R&D
Presence in
7 manufacturing facilities
18+ countries1 & Plans to
in India1 with ~ 4000
strengthen presence in
Channel Partners1 After-sales Manufacturing
USA, Europe
Integrated
Business
model
Maintains c. 2 million
tonnes of air conditioning
and refrigeration EPC [2]
Trading
equipment Contractor
1 As of 31 [st] Dec’24
2 Engineering, Procurement and Construction
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8 Decades - Journey

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Product Offerings

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Product Offerings
Air Conditioning
Window AC Split AC
VRF Lite
Ducted Split Outdoor unit
Portable AC Top Discharge VRF
Air Coolers
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Product Offerings
Refrigeration
Mini bar
Water Coolers Medical Refrigeration
Cold Room
Visi Coolers
Deep Freezers
Water Dispensers Ice Maker
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Manufacturing Facilities

Manufacturing Facilities

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Business Overview

Electro-Mechanical Projects and Commercial Air Conditioning Systems

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Electro-Mechanical Projects:

• Good progress in order finalizations from factories and data centers.

• Muted demand from commercial real estate and infrastructure.

• Carried-forward order book at ₹5,146 crores as of December 31, 2024 (growth of 10.7%).

Commercial Air Conditioning Systems:

• Reasonable growth driven by manufacturing, education, retail, and auditoriums.

• Leadership in Ducted System segment, strong position in VRF and Chiller categories.

After Sales Service:

• After sales service business is maintaining contracts for ~2.5 million tonnes of air conditioning and refrigeration equipment.

• Currently serving ~4000 towns with more than 2 million service calls a year.

International Business

• Development of new products targeting decarbonization and energy efficiency for key OEMs in Europe and North America is progressing well.

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Unitary Products

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Room Air Conditioner:

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• Room AC business achieved remarkable growth, with quarterly market share of 14%.

• Addressing supply chain challenges for sustained demand.

• Blue Star available in ~10200 outlets across India.

Commercial Refrigeration:

• Regulatory issues in key products like Deep Freezers and Storage Water Coolers are behind us, now focusing on upcoming summer season.

• Strong growth levers in quick commerce and food delivery markets, especially Modular Cold Rooms and Visi Coolers.

Professional Equipment & Industrial Solutions

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• This quarter, our Industrial Solutioning business continued to demonstrate strong momentum and growth.

• The Med-Tech and Data Security segments experienced sluggishness in order finalizations.

• The customer experience centers for industrial solutions in Thane, Chennai, and Pune are gradually becoming operational.

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Financial Performance

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Financial Performance - Q3 FY 2025
Revenue (₹ cr) EBITDA (₹ cr)
2807
209
2241
25% 155
35%
Q3 FY24 Q3 FY25 Q3 FY24 Q3 FY25
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Financial Performance - Q3 FY 2025
PBT^ (₹ cr) EPS (₹)
6.44
179
4.89
134
32%
33%
Q3 FY24 Q3 FY25 Q3 FY24 Q3 FY25
Not Annualised
^ PBT after exceptional items
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Segment Revenue Composition – Q3 FY25
Segment 3 Segment 3
5% 3%
Segment 2 Segment 2
43% 41%
Segment 1
Segment 1
52%
56%
REVENUE – Q3 FY24 REVENUE – Q3 FY25
Segment 1: EMP & Commercial Air Conditioning Systems
Segment 2: Unitary Products
Segment 3: Professional Electronics and Industrial Systems
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Segment Performance – Q3 FY25
Segment 3 Segment 3
14.7% Segment 2 7.7%
Segment 2
Segment 1 Segment 1
7.1% 8.1%
8.2% 7.6%
EBIT – Q3 FY24 EBIT – Q3 FY25
Segment 1: EMP & Commercial Air Conditioning Systems
Segment 2: Unitary Products
Segment 3: Professional Electronics and Industrial Systems
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Order Book - Q3 FY 2025
Orders Booked (₹ cr) Carry Forward Orders (₹ cr)
2999 6810
2278 13%
32%
6039
Q3 FY24 Q3 FY25 Q3 FY24 Q3 FY25
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ESG Practices

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ESG Practices
 Low carbon products &
Well-enumerated Code of BEE Star labelling
Conduct, Whistle Blower products
Mechanism and a  E-Waste compliance in
Governance, Risk and the Room AC industry
Compliance policy
Focused initiatives for
Integrated Vigil
Mechanism reducing energy and
Framework and water consumption
integrated Focus on Circular
governance pillars Economy initiatives
Remains committed
 Female employees at all time to the  Rain water harvesting
in the management highest standards of and Zero Liquid
cadre ESG endeavors Discharge in all our
manufacturing plants
Committed towards having a Focused initiatives on skill
diverse and inclusive development and sustainable
workforce development projects
 Philanthropic
initiatives in the  AC&R training partner for
areas of education multiple institutes
and healthcare and corporates
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ESG Practices

Environmental

• Sustainability

• Eco-friendly Initiatives

• Renewable Energy

• Product Energy Efficiency

• Focus on waste reduction and recycling

Social

• Worker Rights, Health & Safety

• Educational Initiatives & Scholarships

• Diversity and Inclusive Workforce

• Medical Support

• Skill Development

Governance

• Code of Conduct

• Whistle Blower Programme

• Board Diversity

• Enterprise Risk Management

• Integrated Vigil Mechanism

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Thank You
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