Company History - Blue Star
1949 - The Company was Incorporated on 20th January, at Mumbai. The
Company manufacture commercial refrigeration equipment
water coolers, beverage coolers, bulk ice markets, deep
pre-fabricated walk-in-collers, packaged
components for large central refrigeration and
plants. The Company also act as distributors for
1953 - The Companies at Calcutta, Chennai and Blue Star Industries,
Mumbai and Blue Start Industries, Mumbai became wholly
subsidiaries of the Company.
1969 - The subsidiaries were amalgamated with the holding company
was then converted into a public limited company with
- Prior to the public issue during the year, the capital
of 5,000 preference shares of Rs 100 each and 3,66,000
equity shares of Rs 10 each. Out of these, 1,400 No. of
shares were issued without payment in cash and 1,01,000
equity shares were issued as bonus.
1970 - In November 1,14,500 Right Equity shares offered at par in
proportion 1:4 and allotted in early 1971.
1974 - 425 Pref. Shares converted into 4,250 No. of equity shares in
October. 2,13,525 Bonus Equity shares issued in prop.
1976 - The Company had set up a joint venture in Dubai, with a local
group of engineers, for design and installation of
air-conditioning and refrigeration systems.
1979 - 4,62,637 Bonus equity shares issued in prop. 1:2.
1980 - The Company set up a new unit at Bharuch, a backward area in
Gujarat. It was inaugurated on 8th December.
1981 - The Company issued 50,000 redeemable rights debentures of Rs
each at par during March/May to the resident equity
of the Company in the proportion 1 Debenture: 25 Equity.
Debentures carry interest at the rate of 13.5% with an
interest of 1% per annum linked to the dividend rate.
debentures are redeemable in two instalments of Rs 50
each in the
eighth and ninth year after the date of allotment.
1983 - The Company signed technical collaboration with York
International, U.S.A. for the manufacture of
chillers and air handling units used in central air
1984 - Expansion of the Thane plant for manufacture of centrifugal
packaged chillers as well as for the production of a new
walk-in-coolers and air handling units was undertaken.
1985 - The Company privately placed with UTI, LIC and GIC and its
subsidiaries 15% secured redeemable non-convertible
for a total value of Rs 4 crores.
1986 - Additional plant and machinery were installed for the
manufacture of centra pack centrifugal chillers.
- Industrial licence was sought for a project to
computers, peripherals and instruments in a phased
association with Hewlett-Packard, U.S.A.
- The Company had received a letter of intent for the
of Electronic Private Automatic Branch Exchange (EPABX)
technical collaboration agreement was signed with
Jeumont-Schneider of France. The Company also undertook
manufacture analytical instruments in Gandhinagar.
- A new joint venture called Yokogawa Keonics Ltd., was
set up with
Yokogawa Electric Corporation (KEONICS) for the
centrum distributed control system and micro processor
single loop instruments.
- 13,32,395 bonus equity shares issued in prop. 3:5.
1987 - A new agreement was signed with York International, U.S.A.
manufacture of semi-hermetic reciprocating chillers in
of 30 TR to 230 TR at the Thane factory.
1989 - The Company introduced during the year reciprocating
in collaboration with York International USA. Several
models of packaged air-conditioners, air handling unit
coolers were introduced.
- The Company allotted on a private placement basis 14%
non-convertible debentures for a total value of Rs 5
These debentures were redeemable in four annual
commencing from 11th June, 1992.
1990 - Several new models of split air-conditioners and a new line
key telephone systems were introduced during the year.
1991 - Some of the new products introduced during the year were a
tine of refrigerators, full range of room and split
air-conditioners, mini water cooler, mortuary chambers
improved line of compact energy-efficient packaged
- The Company commenced manufacture of absorption of
technolgy from Mitsubishi, Japan at the Thane factory.
water coolers, mortuary chambers and an improved line
and energy efficient packaged air conditioners, were
- The range of EPABX and key telephone systems
Gandhinagar were rationalised by focussing on smaller
which were more suited to Indian business needs.
- 35,53,054 bonus equity shares issued in prop. 1:1 and
1992 - 28,42,443 Rights shares issued in May 1993 (Prem. Rs 25;
2:5) 9,075 Pref. shares redeemed on 15.6.1993 pursuant
provisions of the Companies Act, 1956.
1993 - Pursuant to a resolution taken up during the year the Company
acquired the entire paid up capital in USIN
making it a wholly owned subsidiary of the Company.
1994 - The Company entered into a joint venture in Malaysia.
- 1,00,000 No. of equity shares allotted to company's
under stock option scheme.
1995 - The Company proposed to set up a plant for manufacture of
state-of-the-art room, split and packaged air
ranging from ITR to 20 TR capacities in technical
with Rheem Manufacturing company, USA at Dadra.
- During September, the Company issued 35,00,000 shares at
premium of Rs 47 per share to promoters group.
issued as bonus in prop. 1:1.
1997 - The Company entered into technology tie-up with Kolpak,
for coldrooms and Climatrol, Italy for double skin
- The company also has technical collaborations with
Japan; York International, US.
- The company recently entered into an agreement with
Holland-based Baan Infosystems, a major developer of
resource planning (ERP) software, for providing
around Baan's products.
- Blue Star has set up an ERP division within the
- The company has recently commissioned the
plant at Dadara for producing ducted and non-ducted
airconditioning equipment in collaboration with Rheem
U.S. A higher growth rate is planned for international
in central airconditioning projects. It has already
UAE and Malaysian markets.
- Bluestar has announced a short voluntary retirement
(VRS), which will be valid till October 31, 1997.
- The air-conditioning major, Blue Star Ltd, is believed
exploring the possibility of pulling out of the joint
with Yokogawa. The joint venture is engaged in
process control equipment.
- Blue Star has a Software Centre in Bangalore and a
subsidiary USIN Inc in California, USA.
- Blue Star Ltd has inaugurated its new software
centre in Bangalore. The centre is equipped to
software for Hewlett Packard and its customers in the
Europe and Asia Pacific. The company also has two
development centres at Seepz, Mumbai for
- During July, the company commissioned a facility for the
manufacture of ducted and non ducted air-conditioners in
collaboration with Rheem of USA.
1998 - The joint ventures of the company are with Yokogawa and Stork
Comprimo in India and with Arab Malaysa in Malaysia.
business partners of the company include Mitsubishi,
Racal, Heatcraft, York, Hitachi, Krautakraemer,
Atlanta, Nicolet, Philips, Geho pumps, Neles Jamesbury
- USIN International Inc., became a 100% subsidiary of
marketing software services.
- The company is the country's largest import house for
professional electronic equipment and represents
manufacturers on an exclusive basis. The range covers
equipment, material testing machines, test and
instruments, data communication systems and
- The four companies with whom the manufacturing
have been signed are York International Corporation,
Italy, Kolpak of the US and Bohn, also of the US.
- Blue Star is the country's largest player in the
air-conditioning segment. The company, which has an
capacity of 1 lakh units at the Dadra plant, is
contract manufacture components as well as finished
for its competitors.
- Blue Star is also entering into a technical tie up
International Corporation of the US for screw
industrial refrigeration equipment.
- The company has set up an ancillary unit in Billimora
manufacture ducts. Another ancillary unit has been
set up at
Noida in collaboration with Waterloo Corporation, UK
manufacture grillers and diffusers.
- Bajaj Auto Finance Ltd (BAFL), has entered into a
Godrej GE Appliances, Korean consumer durables
and air-conditioning major Blue Star to finance their
- The company has entered into a manufacturing
the US-based Kolpak, a leader in pre-fabricated PUF
has been in a tie-up with US refrigeration equipment major
- The company has set up special training centres at its
manufacturing unit in Thane and regional office in Chennai.
- The company has bagged its first renovation and modernisation
project for the year from NTPC, Talcher, Orrisa.
- Blue Star's brand name will change to Blue Star York from
onwards consequent upon York International Corporation's
decision not to form an equity partnership in India and
to expand its 15-year-old technical tie-up with Blue Star to
cover the entire product range of the Indian air-conditioning
and refrigeration company, Blue Star vice-president Neeraj
- A new company Blue Star Infotech (UK) Ltd., was incorporated
UK as a subsidiary of the company to tap the software market
1999 - Blue Star Ltd has signed a new technology transfer agreement
taking up manufacture of York's new range of
equipment, in its Thane plant, within the next few
- Blue Star has introduced new generation energy efficient
airconditioner fitted with imported Copeland Scroll
- The company has entered into a strategic alliance with
Datacom, UK, for integrated services, digital network,
2000 - Blue Star Ltd. have become distributors in India for the high
backbone routers of Juniper Networks Inc.
- Thermal Engineering Systems of UK has entered into an
licence agreement with Blue Star, New Delhi, for
manufacturing and selling its high
humidity `Humidicoil' range of post harvest cooling
systems in the country.
2001 - Blue Star has launched a new range of sleek, sylish and
contemporary turo rotary
-Shareholders approve for the special resolution to buyback equity
shares of the face value of Rs.10 each from open market through
electronic trading mechanism of the exchange.
-BOD delcares an interim dividend @ Rs 5.50 per equity share of Rs.10
-Mr Uday S Kotak resigns from the Board of Directors of the company.
-Launches a revolutionary Central and packaged airconditioning system
to offer quantum leap in energy efficiency.
-Appoints Mr Pradeep Mallick as the new Additional Director on the
Board of the company.
-Closes the Buyback scheme on Feb 3.
-Inducts AFL Logistics for the complete transfer and warehousing of
finished goods for a period of 2 years, with a view to outsource the
-Mr Gurdip Singh appointed as the new Director of the company.
-Changes in Management:
Mr. Nawshir H Mirza appointed as an additional Director of the
Company, Mr. Satish Jamdar has been elevated to the Board as an
Executive Director of the Company, his promotion being effective from
November 01, 2003.
-Blue Star signs alliance pact with Hanbell for compressors
-Blue Star Ltd has launched a series of contemporary technology
airconditioning systems for a wide range of applications.
Tandem Scroll Chillers:
It has upgraded its existing range of scroll chillers (10-39TR) range
incorporating high efficiency Tandem Scroll compressors. With a
multiple compressor design, these units give 15-17% better energy
efficiency. They are also equipped with micro-processor controller
with remote monitoring features.
These units are available in air cooled (10-24-36 TR) and water
cooled (11-26-39 TR) options and are ideal for small offices,
residences, hotels, hospitals, etc.
Special Application Chillers:
Here is a new range created for process cooling applications. It
comes in 4 models, all air cooled in the range of 5-15 TR with the
larger 2 models incorporating 2 compressors each.
Telecom Airconditioning System:
Working in close coordination with Telecom players, the Company has
developed a rugged highly reliable airconditioning unit for unmanned
When Reliance Telecom needed special airconditioning units for its
network, Blue Star's R&D team worked with them and brought out a
special unit incorporating scroll compressors for energy efficiency
and bottom air discharge for installation convenience.
Apart from telecom shelters, these units have found application in
UPS control and other high heat generating applications.
-Blue Star Limited has bagged a Rs 12-crore order for air
conditioning the research and development (R&D) facility of Microsoft
- Blue Star Ltd introduces new range of mega split air-conditioners
for the light commercial market such as small offices and showrooms.
The three-tonne air-conditioner is priced at Rs 47,000
-Blue Star joins hand with FCE
-Blue Star sets up new factory at Kala Amb in Himachal Pradesh
-Blue Star ties up with ISA, Italy for Supermarket Refrigeration
-Blue Star opts for a 5 for 1 stock split
-Blue Star launches UVC Emitters to improve Indoor Air Quality
-Company has splits its Face value of Shares from Rs 10 to Rs 2
-Blue Star sets up its fifth factory at Wada, Thane District
-Blue Star and Arctic India join hands to promote Air Management
--Blue Star to acquire Naseer Electricals
-Blue Star bags Rs 104 crore order from Delhi Metro Rail Corporation
Limited (DMRC) for 7 Underground Metro Stations.
-Blue Star launches wide range of Star-rated Split Air-conditioners
-Blue Star launches innovative cooling solution for storage of seeds
-Blue Star to aggressively promote LEED consultancy services for
-Blue Star bags order for airconditioning Raipur airport
- Blue Star Ltd has appointed Mr. Vir S. Advani as a Wholetime
Director of the Company with effect from July 01, 2010. The
appointment will be subject to the approval of the shareholders at
the forthcoming Annual General Meeting of the Company to be held on
July 26, 2010.
-Blue Star enters residential AC market
-Blue Star unveils new AC models
-Blue Star launches new range of Inverter Split ACs
-Blue Star Enters Kerala with Split Range of ACs
-Blue Star wins Rs 84-cr order from Bangalore Metro Rail
-Blue Star Ltd has proposed a Dividend of Rs. 1/- per equity share of
Rs. 2/- each (50%).
- Blue Star appoints B. Thiagarajan as Whole time Director
- The Company recommended a Dividend of Rs. 2.00 per equity share
(Previous Year Rs. 1.00 per equity Share). In addition, a special
dividend of Re. 1.00 per equity share has been recommended to
commemorate the birth centenary of the founder Chairman of the
- The company recommended a dividend of Rs. 4.00 per equity share of
Rs. 2 each (Previous Year : Rs. 3.00 per equity share, including
special dividend of Rs. 1.00 per equity share to commemorate the
birth centenary of the founder Chairman Mr. Mohan T. Advani as well
as the 70th anniversary of the founder of Blue Star).
-Blue Star and Eureka Forbes collaborate to launch water coolers with
in-built Aquaguard water purifiers.
-Blue Star Limited has successfully executed the airconditioning as
well as plumbing works of the integrated Terminal Building, Terminal
2 of the Chhatrapati Shivaji International Airport (CSIA), Mumbai.
-Blue Star launches new Inverter VRF AC system
-Blue Star launches the next generation 100% Inverter VRF AC system
that is 'Made in India' and 'Made for India'.
-Blue Star signs deal with Jumbo Engineering in UAE
-Blue Star launches Inverter Room ACs with anti-corrosive copper
condensers for Maldives
-Blue Star Ltd has informed Blue Star launches India's largest range
of star rated inverter ACs; targets 12% market share of Room ACs in