P January 29, 2025

Dear Sir/Madam,

Sub.: Outcome of the Board Meeting under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the 'Listing Regulations')

With reference to our letter dated December 26, 2024, and in accordance with Regulation 30 of the Listing Regulations, we hereby inform you that the Board of Directors (the 'Board') at its Meeting held today, i.e. Wednesday, January 29, 2025, have, inter alia, approved and taken on record the Un-audited Standalone and Consolidated Financial Results of the Company for the Third Quarter and Nine Months ended December 31, 2024, along with the Limited Review Reports, pursuant to Regulation 33 of the Listing Regulations.

The copies of aforesaid Financial Results along with the Limited Review Reports are enclosed herewith.

The meeting commenced at 10:30 a.m. and concluded at 3:35 p.m.

Kindly take the same on record.

The above information is also being made available on the website of the Company at www.bluestarindia.com

Thanking you, Yours faithfully, For Blue Star Limited

RAJESH DIGAMBA R PARTE Digitally signed by RAJESH DIGAMBAR PARTE DN: c=IN, o=PERSONAL, title=5749, pseudonym=6729d59dfc2a4a71a5632e03 9dbb3f14, 2.5.4.20=3ee67315b0a8e81797298ba7027 37ee4f4c9aaeb14b23c618ec4ece01383c81 e, postalCode=400037, st=Maharashtra, serialNumber=f61ea3be0521495570c9c79 21632, cn=RAJESH DIGAMBAR PARTE Date: 2025.01.29 15:40:17 +05'30'

Rajesh Parte Company Secretary & Compliance Officer Membership No.: A10700

Encl.: a/a

Z:(01) Blue Star Limited\2024-25\Stock Exchange Compliances\Reg 30 - Information and Update\6. Outcome of BM\4. January 29, 2025

Deloitte Haskins Ir Sells LLP

Chartered Accountants One International Center Tower 3, 27th-32nd Floor Senapati Bapat Marg Elphinstone Road (West) Mumbai-400 013 Maharashtra, India

Tel: +91 22 6185 4000 Fax:+912261854101

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM CONSOLIDATED FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF BLUE STAR LIMITED

• 1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of Blue Star Limited ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), and its share of the net loss after tax and total comprehensive loss of its joint ventures for the quarter and nine months ended December 31, 2024 ("the Statement") being submitted by the Parent pursuant to the requirement of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of Parent's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

1. The Statement includes the results of the following entities :

Parent: Blue star Limited

Subsidiaries :

• a. Blue Star Engineering and Electronics Limited
• b. Blue Star Climatech Limited
• c. Blue Star Qatar WLL
• d. Blue Star International FZCO
• e. Blue Star MEA Airconditioning LLC (Formerly Blue Star Systems and Solutions LLC)
• f. BSL AC&R (Singapore) PTE. LTD.
• g. Blue Star North America Inc.
• h. Blue Star Europe B.V.
• i. Blue Star Innovation Japan LLC
• j. Blue Star Air Conditioning & Refrigeration (U) Limited

Regd. Office: One International Center, Tower 3, 32nd floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai-400 013, Maharashtra, India. Deloitte Haskins & Sells LLP is registered with Limited Liability having LLP identification No: AAB-8737

Deloitte Haskins & Sells LLP

Joint Ventures:

• a. Blue Star M&E Engineering (Sdn) Bhd.
• b. Blue Star Oman Electro-Mechanical Co . LLC
• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. We did not review the interim financial information I financial results of six subsidiaries included in the unaudited consolidated financial results, whose interim financial information I financial results reflect total revenues of ~ 111.30 crore and ~ 460.61 crore for the quarter and nine months ended December 31, 2024 respectively, total net loss after tax of~ 7.56 crore and~ 15.98 crore for the quarter and nine months ended December 31, 2024 respectively and total comprehensive loss of~ 7.56 crore and ^~ 15.98 crore for the quarter and nine months ended December 31, 2024 respectively as considered in the Statement. These interim financial information I financial results have been reviewed by other auditors whose reports have been furnished to us by such other auditor I the management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the reports of such other auditors and the procedures performed by us as stated in paragraph 3 above.

These subsidiaries are located outside India whose financial information I financial results have been prepared in accordance with accounting principles generally accepted in their respective countries and have been reviewed by their respective auditors under generally accepted auditing standards on review engagements applicable in their respective countries. The Company's management has converted the interim financial information I financial results of these subsidiaries from accounting principles generally accepted in respective countries to accounting principles generally accepted in India. We have reviewed these conversion adjustments made by the Company's management. Our conclusion on the Statement, in so far as it relates to the amounts arid disclosures included in respect of these subsidiaries, is based solely on the reports of the other auditors, the conversion adjustments prepared by the Management of the Company and reviewed by us, and the procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of these matters.

1. The consolidated unaudited financial results includes the unaudited financial information I financial results of two subsidiaries which have not been reviewed by its auditors, whose financial information I financial results reflects total revenue of~ 0.08 crore and ^~0.08 crore for the quarter and nine months ended December 31, 2024 respectively, total net loss after tax of~ 1.65 crore and ~ 4.99 crore for the quarter and nine months ended December 31, 2024 respectively and total comprehensive loss of ~ 1.65 crore and ~ 4.99 crore for the quarter and nine months ended December 31, 2024 respectively, as considered in the Statement. The consolidated unaudited financial results also includes (i) the Group's share of net loss after tax of ~ 0. 72 crore and ^~ 0.93 crore for the quarter and nine months ended December 31, 2024 respectively and total comprehensive loss of~ 0.72 crore and ~ 0.93 crore for the quarter and nine months ended December 31, 2024 respectively, as considered in the Statement, in respect of a joint venture based on its interim financial information I financial results, and (ii) the Group's share of profit I loss after tax of ~ Nil and ~ Nil for the quarter and nine months ended December 31, 2024 respectively, and total comprehensive income of~ Nil and ~ Nil for the quarter and nine months ended December 31, 2024 respectively, as considered in the statement, in respect of a joint venture whose carrying amount of investment is fully provided for by the Group. The financial information I financial :.: re~=~ ... of these subsidiaries and joint ventures have not been reviewed by their aud

.... ~ J-

Deloitte Haskins & Sells LLP

informed to us by the Management. According to the information and explanations given to us by the Management, these interim financial information I financial results are not material to the Group.

Our Conclusion on the Statement is not modified in respect of our reliance on the interim financial information I financial results certified by the Management.

For DELOITTE HASKINS & SELLS LLP

Chartered Accountants (Firm's Registration No. 117366W/W-100018)

Ketan Vora Partner (Membership No. 100459) u o:rt-1- 2.5' ~ ~s-1 eMMttTS8632..

Place: Mumbai Date: January 29, 2025

Registered Office : Kuturi Buildings, Mohan T. Adv1nl Chowk, Jamshedjl Tata Road, Mumbai 400 020,

CIN No.: L28920MH1949PLC006870, Telephone No +91226665 4000, Fax No. +91226665 4152 Website: www.bluestarindla.com

UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31 , 2024

Additional information pursuant to Regulation 52(4) and Regulation 54(2) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended as at and for the quarter and nine months ended December 31 , 2024.

SEGMENT WISE REVENUE, RESULTS, ASSETS & LIABILITIES FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024

Note :

a. Based on the "management approach" as defined in Ind AS 108-0perating Segments, the Chief Operating Decision Maker evaluates the Company's perfonmance and allocates resources based on an analysis of various perfonmance indicators by business segments. Accordingly, infonmation has been presented along these business segments.

b. Unitary product segment is seasonal in nature.

c. Previous periods' I year's fiqures have been reorouped I rearranoed wherever necessarv.

Registered Office : Kastur1 Buildings, Mohan T. Advanl Chowk, Jamshedjl Tata Road, Mumbai 400 020, CIN No.: L28920MH1949PLC006870, Telephone No +91 22 6665 4000, Fax No. +91 22 6665 4152

Website : www.btuestar1ndla.com

UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024

~

2 Financial Results of Blue Star Limited (Standalone lnfOfmation) :

3 The Audit Committee has reviewed and the Board of DirectOfs has approved the above results at their respective meetings held on January 28, 2025 and January 29, 2025.

4 During the period, Blue Star Engineering & Electronics Limited, wholly owned subsidiary of Blue Star Limited ("the Holding Company") has sold property, which has resulted in book profit of t .12.51 crores !t.10.37 CrOfes net of tax) and the same has been reparted as exceptional income in the financial results for the quarter and nine months ended December 31 . 2024. 5 Previous periods' I yeafs figures have been regrooped I rearranged wherever necessary.

For BLUE ST AR LIMITED

v" (;/y{_- ^~Vlr S. Advanl

Date : January 29, 2025 Chairman and Managing Director Place : Mumbai (DIN : 01571278)

Deloitte Haskins Ir Sells LLP

Chartered Accountants One International Center Tower 3, 27th-32nd Floor Senapati Bapat Marg Elphinstone Road (West) Mumbai-400 013 Maharashtra, India

Tel: +91226185 4000 Fax: +91 22 6185 4101

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF BLUE STAR LIMITED

• 1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of Blue Star Limited ("the Company"), for the quarter and nine months ended December 31, 2024 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For DELOITTE HASKINS & SELLS LLP Chartered Accountants (Firm's Registration No. 117366W/W-100018)

Ketan Vora Partner (Membership No. 100459)

v O!.'N - <2. 5'' oo~ 5~~Mt"'\t1!Al2. 3'f

Place: Mumbai Date: January 29, 2025

Regd. Office: One International Center, Tower 3, 32nd floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai-400 013, Maharashtra, India. Deloitte Haskins & Sells LLP is registered with Limited Liability having LLP identification No: AAB-8737

Registered Office : Kasturi Buildings, Mohan T. Advani Chowk, Jamshedji Tata Road, Mumbai 400 020, CIN No.: L28920MH1949PLC006870, Telephone No +91 22 6665 4000, Fax No. +91226665 4152 www.bluestarindia.com

UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024

Additional information pursuant to Regulation 52(4) and Regulation 54(2) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended as at and for the quarter and nine months ended December 31 , 2024.

Registered Office : Kasturi Buildings, Mohan T. Advani Chowk, Jamshodji Tata Road, Mumbai 400 020, CIN No.: L28920MH1949PLC006870, Tolophono No +91 22 6665 4000, Fax No. +91 22 6665 4152 www.bluostarindia.com

UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31 , 2024

NOTES:

1 The Audit Committee has reviewed and the Board of Directors has approved the above results at their respective meetings held on January 28, 2025 and January 29, 2025.

2 Previous period's I year's figures have been regrouped I rearranged wherever necessary.

For BLUE STAR LIMITED

Dato : January 29, 2025 Place : Mumbai

Vir S. Advanl Chairman and Managing Director (DIN : 01571278)

B. STATEMENT ON DEVIATION OR VARIATION FOR PROCEEDS OF PUBLIC ISSUE, RIGHTS ISSUE, PREFERENTIAL ISSUE, QUALIFIED INSTITUTIONS PLACEMENT ETC.

(a) Deviation in the objects or purposes for which the funds have been raised or

(b) Deviation in the amount of funds actually utilized as against what was originally disclosed or

(c) Change in terms of a contract referred to in the fund raising document i.e. prospectus, letter of offer, etc.

C. FORMAT FOR DISCLOSING OUTSTANDING DEFAULT ON LOANS AND DEBT SECURITIES

• D. FORMAT FOR DISCLOSURE OF RELATED PARTY TRANSACTIONS (applicable only for halfyearly filings i.e., 2nd and 4th quarter) – Not applicable
• E. STATEMENT ON IMPACT OF AUDIT QUALIFICATIONS (FOR AUDIT REPORT WITH MODIFIED OPINION) SUBMITTED ALONG-WITH ANNUAL AUDITED FINANCIAL RESULTS (Standalone and Consolidated separately) (applicable only for Annual Filing i.e., 4th quarter) – Not applicable