Blue Star (company)

Last updated

Blue Star Limited
Company type Public
ISIN INE472A01039
Industry
Founded1943;81 years ago (1943)
FounderMohan T Advani
Headquarters
Mumbai, Maharashtra
,
India
Area served
Worldwide
Key people
Products
RevenueIncrease2.svg₹6,081 crore (US$730 million) (2022) [2]
Increase2.svg₹296 crore (US$35 million) (2022) [2]
Increase2.svg₹166 crore (US$20 million) (2022) [2]
Total assets Increase2.svg₹4,312 crore (US$520 million) (2022) [2]
Total equity Increase2.svg₹998 crore (US$120 million) (2022) [2]
Number of employees
2,800+ (2022) [2]
Website www.bluestarindia.com

Blue Star Ltd is an Indian multinational home appliances company, headquartered in Mumbai. It specializes in air conditioning, commercial refrigeration and MEP (mechanical, electrical, plumbing and firefighting). It is the country's second largest homegrown player in the air conditioning space. [3]

Contents

History

Blue Star was founded in 1943 by Mohan T Advani as a reconditioning company. [4] [5] Soon after inception, Blue Star ventured into the manufacturing of ice candy machines and bottle coolers and began the design, execution of central air conditioning projects, followed by the manufacturing of water coolers. The company later expanded into new product lines and began exporting to Dubai. It went public in 1969 with an initial public offering, listing on the Bombay Stock Exchange. [6] [7] [8] [9] In the late 2000s, Blue Star ventured into the electrical, plumbing and fire-fighting contracting businesses, offering customers an integrated mechanical, electrical, and plumbing (MEP) solution. It then forayed into the residential air conditioning segment a few years later, along with entering the water and air purification segments as well as the engineering facility management (EFM) space recently. [10]

Manufacturing and operations

Blue Star has four manufacturing plants, which are located in Dadra, Kala Amb, Wada, and Ahmedabad. [11] [12] In addition, the company is currently in the process of setting up a plant in Sri City. [13]

Blue Star has a presence in 18 countries in the Middle East, Africa, SAARC and ASEAN regions. Blue Star has three Joint Ventures in Oman, Qatar and Malaysia. [14] The company has subsidiaries in UAE, Qatar and India. The company serves the Middle East market via its UAE subsidiary. [15] [16] The company's subsidiary in India is called Blue Star Engineering & Electronics Ltd [17]

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References

  1. 1 2 "Blue Star Registered Address Contact Details, Blue Star Management". www.moneycontrol.com. Retrieved 4 May 2019.
  2. 1 2 3 4 5 6 "Blue Star Financial Statements". moneycontrol.com.
  3. ↑ Mukherjee, Writankar (22 March 2018). "Blue Star eyes commercial refrigeration products, water purifiers as next growth driver". The Economic Times. Retrieved 7 May 2019.
  4. ↑ "Bluestar aims to be USD 1 bn plus company in 5 years - Times of India". The Times of India. PTI. Retrieved 7 May 2019.
  5. ↑ Gupta, Pavan (1987). Corporate India 500: A Visual Survey. Business Press. p. 82.
  6. ↑ "Blue Star > Company History > Consumer Goods - White Goods > Company History of Blue Star". www.moneycontrol.com. Retrieved 7 May 2019.
  7. ↑ Vachani, Sushil (1991). Multinationals in India: Strategic Product Choices. Oxford & IBH Publishing Company. p. 148. ISBN   9788120405509.
  8. ↑ Business India. A. H. Advani. 2005. p. 48.
  9. ↑ Enlite. Light Publications. 1968. pp. 25–27.
  10. ↑ Bhuva, Rajiv. "Making cool hot again, or how Vir Advani is changing Blue Star". www.fortuneindia.com. Retrieved 7 May 2019.
  11. ↑ Pandit, Virendra. "Blue Star to set up new plant in S. India". The Hindu Business Line. Retrieved 7 May 2019.
  12. ↑ "Blue Star to set up new plant in Ahmedabad". The Economic Times. PTI. 23 December 2011. Retrieved 7 May 2019.
  13. ↑ "Blue Star to commission greenfield plant in Andhra Pradesh in three years". The New Indian Express. 27 March 2019. Retrieved 7 May 2019.
  14. ↑ "Blue Star Limited celebrates 75 years of operations". Mechanical Electrical Plumbing ME. 15 October 2018. Retrieved 7 May 2019.
  15. ↑ Chaki, Deborshi (26 December 2016). "Blue Star appoints KPMG to value West Asia, Malaysia units". Live Mint. Retrieved 7 May 2019.
  16. ↑ "Blue Star discloses expansion plans in the Middle East region". Mechanical Electrical Plumbing ME. 23 April 2019. Retrieved 7 May 2019.
  17. ↑ "Blue Star drops plan to merge subsidiaries". The Hindu Business Line. Retrieved 7 May 2019.
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