Blue Star Limited has submitted its quarterly compliance certificate under SEBI Regulation 74(5) for Q4 FY26, confirming adherence to dematerialization regulations for the quarter ended March 31, 2026. The Mumbai-based company filed the certificate with both BSE and NSE on April 8, 2026.

Regulatory Compliance Certificate

The certificate was issued by MUFG Intime India Private Limited (formerly Link Intime India Private Limited), Blue Star's registered Registrar and Share Transfer Agent (RTA). The RTA holds SEBI registration as a Category I RTA with Registration Number INR000004058.

Dematerialization Process Confirmation

MUFG Intime India confirmed that all securities received from depository participants for dematerialization during Q4 FY26 were properly processed within prescribed timelines. The RTA verified that:

• Securities received for dematerialization were confirmed (accepted/rejected) to depositories
• All securities comprised in certificates have been listed on stock exchanges where earlier issued securities are listed
• Security certificates received were mutilated and cancelled after due verification by depository participants
• Depository names were substituted in the register of members as registered owners within prescribed timelines

Stock Exchange Filing Details

Blue Star filed the compliance certificate with both major Indian stock exchanges where its shares are listed.

The certificate was signed by Rajesh Parte, Company Secretary & Compliance Officer of Blue Star Limited, and countersigned by Ashok Shetty, Sr. Vice President-Corporate Registry at MUFG Intime India.

Public Disclosure

Blue Star has made the compliance certificate available on its corporate website at www.bluestarindia.com , ensuring transparency and public access to the regulatory filing. This quarterly filing demonstrates the company's commitment to maintaining proper corporate governance standards and regulatory compliance in its securities handling processes.

Blue Star is encountering a particularly challenging start to the summer season, facing multiple market pressures that are impacting its business operations. The air conditioning and commercial refrigeration company is navigating through a combination of pricing pressures and weather-related demand fluctuations that are affecting its traditional peak season performance.

Price Increase Implementation

The company has implemented substantial price increases of 13% across its product portfolio. These price adjustments represent a significant shift in the company's pricing strategy and may be influencing customer purchasing behavior during what is typically considered the peak demand period for cooling solutions.

Weather-Related Market Challenges

The company's performance has been further impacted by unseasonable rainy weather conditions, which have created additional headwinds for customer demand. This weather pattern disrupts the typical summer buying cycle when consumers and businesses usually increase their purchases of air conditioning equipment and related services.

Market Conditions Assessment

The combination of higher prices and unfavorable weather conditions has created what the company describes as a very weak start to the summer season. These factors are particularly significant for Blue Star, as the summer months traditionally represent a crucial period for revenue generation in the air conditioning and cooling solutions sector.

The current market dynamics highlight the challenges facing companies in the cooling equipment industry, where seasonal demand patterns play a critical role in annual performance. The convergence of pricing pressures and weather-related factors presents a complex operating environment for the company during this important sales period.