Star HoldingsSTHOEarnings & Financial Report
Blue Star Ltd is an Indian multinational home appliances company, headquartered in Mumbai. It specializes in air conditioning, commercial refrigeration and MEP. It is the country's second largest homegrown player in the air conditioning space.
Revenue
$14.6M
Gross Profit
N/A
Operating Profit
$-8.0M
Net Profit
$-7.6M
Gross Margin
N/A
Operating Margin
-55.0%
Net Margin
-52.0%
YoY Growth
-42.5%
EPS
$-0.57
Star Holdings Q1 FY2025 Financial Summary
Star Holdings reported revenue of $14.6M (down 42.5% YoY) for Q1 FY2025, with a net profit of $-7.6M (up 84.5% YoY) (-52.0% margin).
Key Financial Metrics
| Total Revenue | $14.6M |
|---|---|
| Net Profit | $-7.6M |
| Gross Margin | N/A |
| Operating Margin | -55.0% |
| Report Period | Q1 FY2025 |
Revenue Breakdown
Star Holdings Q1 FY2025 revenue of $14.6M breaks down across 4 segments, led by Other Income Revenue at $6.5M (44.4% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Other Income Revenue | $6.5M | 44.4% |
| Land Development | $5.2M | 35.4% |
| Operating Lease Income | $1.9M | 12.7% |
| Other | $1.1M | 7.5% |
Star Holdings Revenue by Segment — Quarterly Trend
Star Holdings revenue by segment across the last 4 reported quarters, showing how each business line (such as Other Income Revenue and Land Development) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Other Income Revenue | $9.3M | — | $12.5M | $6.5M |
| Land Development | $13.0M | — | $26.6M | $5.2M |
| Operating Lease Income | $2.0M | $1.8M | $1.9M | $1.9M |
| Other | $1.2M | $777.0K | $1.1M | $1.1M |
Star Holdings Annual Revenue by Year
Star Holdings annual revenue history includes year-by-year totals (for example, 2025 revenue was $110.1M).
| Year | Annual Revenue |
|---|---|
| 2025 | $110.1M |
| 2024 | $113.3M |
| 2023 | $123.1M |
Star Holdings Quarterly Revenue & Net Profit History
Star Holdings results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $25.4M | -22.6% | $-19.1M | -75.5% |
| Q3 FY2025 | $28.1M | +14.5% | $1.8M | 6.4% |
| Q2 FY2025 | $42.1M | +37.7% | $-39.3M | -93.5% |
| Q1 FY2025 | $14.6M | -42.5% | $-7.6M | -52.0% |
| Q4 FY2024 | $32.8M | -12.0% | $-102.6M | -313.1% |
| Q3 FY2024 | $24.6M | -43.7% | $91.9M | 374.3% |
| Q2 FY2024 | $30.6M | +19.9% | $-27.1M | -88.8% |
| Q1 FY2024 | $25.4M | +51.5% | $-49.0M | -192.6% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $25.4M | $30.6M | $24.6M | $32.8M | $14.6M | $42.1M | $28.1M | $25.4M |
| YoY Growth | 51.5% | 19.9% | -43.7% | -12.0% | -42.5% | 37.7% | 14.5% | -22.6% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $622.9M | $601.0M | $696.5M | $608.7M | $618.2M | $589.9M | $595.9M | $570.2M |
| Liabilities | $238.2M | $244.3M | $247.9M | $263.7M | $281.9M | $294.0M | $302.2M | $304.3M |
| Equity | $362.4M | $335.3M | $427.5M | $324.3M | $316.1M | $276.1M | $275.4M | $251.8M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-14.2M | $-6.4M | $-3.8M | $-31.3M | $-6.3M | $-2.6M | $5.3M | $-11.7M |