YEAR EVENTS 1949 - The Company was Incorporated on 20th January, at Mumbai. The Company manufacture commercial refrigeration equipment including water coolers, beverage coolers, bulk ice markets, deep freezers, pre-fabricated walk-in-collers, packaged air-conditioners and components for large central refrigeration and air-conditioning plants. The Company also act as distributors for various products. 1953 - The Companies at Calcutta, Chennai and Blue Star Industries, Mumbai and Blue Start Industries, Mumbai became wholly owned subsidiaries of the Company. 1969 - The subsidiaries were amalgamated with the holding company which was then converted into a public limited company with the present name. - Prior to the public issue during the year, the capital comprised of 5,000 preference shares of Rs 100 each and 3,66,000 No. of equity shares of Rs 10 each. Out of these, 1,400 No. of equity shares were issued without payment in cash and 1,01,000 No. of equity shares were issued as bonus. 1970 - In November 1,14,500 Right Equity shares offered at par in the 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. 3:10 in November 1975. 1976 - The Company had set up a joint venture in Dubai, with a local group of engineers, for design and installation of central 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 100 each at par during March/May to the resident equity shareholders of the Company in the proportion 1 Debenture: 25 Equity. The Debentures carry interest at the rate of 13.5% with an additional interest of 1% per annum linked to the dividend rate. The 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 centrifugal packaged chillers and air handling units used in central air conditioning plants. 1984 - Expansion of the Thane plant for manufacture of centrifugal packaged chillers as well as for the production of a new range of 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 debentures for a total value of Rs 4 crores. 1986 - Additional plant and machinery were installed for the indigenous manufacture of centra pack centrifugal chillers. - Industrial licence was sought for a project to manufacture computers, peripherals and instruments in a phased manner in association with Hewlett-Packard, U.S.A. - The Company had received a letter of intent for the manufacture of Electronic Private Automatic Branch Exchange (EPABX) and a technical collaboration agreement was signed with Jeumont-Schneider of France. The Company also undertook to manufacture analytical instruments in Gandhinagar. - A new joint venture called Yokogawa Keonics Ltd., was set up with Yokogawa Electric Corporation (KEONICS) for the manufacture of centrum distributed control system and micro processor based 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. for manufacture of semi-hermetic reciprocating chillers in the range of 30 TR to 230 TR at the Thane factory. 1989 - The Company introduced during the year reciprocating compressors in collaboration with York International USA. Several new models of packaged air-conditioners, air handling unit and water coolers were introduced. - The Company allotted on a private placement basis 14% redeemable non-convertible debentures for a total value of Rs 5 crores. These debentures were redeemable in four annual instalments commencing from 11th June, 1992. 1990 - Several new models of split air-conditioners and a new line of key telephone systems were introduced during the year. 1991 - Some of the new products introduced during the year were a new tine of refrigerators, full range of room and split air-conditioners, mini water cooler, mortuary chambers and an improved line of compact energy-efficient packaged air-conditioners. - The Company commenced manufacture of absorption of chillers with technolgy from Mitsubishi, Japan at the Thane factory. Mini water coolers, mortuary chambers and an improved line of compact and energy efficient packaged air conditioners, were manufactured. - The range of EPABX and key telephone systems manufactured at Gandhinagar were rationalised by focussing on smaller system which were more suited to Indian business needs. - 35,53,054 bonus equity shares issued in prop. 1:1 and allotted in April 1991. 1992 - 28,42,443 Rights shares issued in May 1993 (Prem. Rs 25; prop. 2:5) 9,075 Pref. shares redeemed on 15.6.1993 pursuant to 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 International, USA, 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 employers 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 conditioners ranging from ITR to 20 TR capacities in technical collaboration with Rheem Manufacturing company, USA at Dadra. - During September, the Company issued 35,00,000 shares at a premium of Rs 47 per share to promoters group. 135,48,551 shares issued as bonus in prop. 1:1. 1997 - The Company entered into technology tie-up with Kolpak, U.S.A. for coldrooms and Climatrol, Italy for double skin airhandling units. - The company also has technical collaborations with Mitsubishi, Japan; York International, US. - The company recently entered into an agreement with Holland-based Baan Infosystems, a major developer of enterprise resource planning (ERP) software, for providing solutions around Baan's products. - Blue Star has set up an ERP division within the international software division. - The company has recently commissioned the state-of-the-art plant at Dadara for producing ducted and non-ducted airconditioning equipment in collaboration with Rheem of the U.S. A higher growth rate is planned for international business in central airconditioning projects. It has already entered UAE and Malaysian markets. - Bluestar has announced a short voluntary retirement scheme (VRS), which will be valid till October 31, 1997. - The air-conditioning major, Blue Star Ltd, is believed to be exploring the possibility of pulling out of the joint venture with Yokogawa. The joint venture is engaged in manufacturing process control equipment. - Blue Star has a Software Centre in Bangalore and a wholly owned subsidiary USIN Inc in California, USA. - Blue Star Ltd has inaugurated its new software development centre in Bangalore. The centre is equipped to develop software for Hewlett Packard and its customers in the US, Europe and Asia Pacific. The company also has two software development centres at Seepz, Mumbai for client-network applications. - 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. The business partners of the company include Mitsubishi, Electrolux, Racal, Heatcraft, York, Hitachi, Krautakraemer, Scientific Atlanta, Nicolet, Philips, Geho pumps, Neles Jamesbury and among other. - USIN International Inc., became a 100% subsidiary of the company marketing software services. - The company is the country's largest import house for professional electronic equipment and represents world-renowned manufacturers on an exclusive basis. The range covers medical equipment, material testing machines, test and measuring instruments, data communication systems and analytical instruments. - The four companies with whom the manufacturing collaborations have been signed are York International Corporation, Climatrol of Italy, Kolpak of the US and Bohn, also of the US. - Blue Star is the country's largest player in the central air-conditioning segment. The company, which has an installed capacity of 1 lakh units at the Dadra plant, is planning to contract manufacture components as well as finished products for its competitors. - Blue Star is also entering into a technical tie up with York International Corporation of the US for screw chillers and industrial refrigeration equipment. - The company has set up an ancillary unit in Billimora to manufacture ducts. Another ancillary unit has been set up at Noida in collaboration with Waterloo Corporation, UK to manufacture grillers and diffusers. - Bajaj Auto Finance Ltd (BAFL), has entered into a tie-up with Godrej GE Appliances, Korean consumer durables conglomerate LG and air-conditioning major Blue Star to finance their consumer durables. - The company has entered into a manufacturing collaboration with the US-based Kolpak, a leader in pre-fabricated PUF panels. It has been in a tie-up with US refrigeration equipment major Bohn since 1995. - 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 June onwards consequent upon York International Corporation's decision not to form an equity partnership in India and instead 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 Seth informed. - A new company Blue Star Infotech (UK) Ltd., was incorporated in UK as a subsidiary of the company to tap the software market in Europe. 1999 - Blue Star Ltd has signed a new technology transfer agreement for taking up manufacture of York's new range of air-conditioning equipment, in its Thane plant, within the next few months. - Blue Star has introduced new generation energy efficient packaged airconditioner fitted with imported Copeland Scroll compressors. - The company has entered into a strategic alliance with Racal Datacom, UK, for integrated services, digital network, fibre optics, etc. 2000 - Blue Star Ltd. have become distributors in India for the high speed internet backbone routers of Juniper Networks Inc. - Thermal Engineering Systems of UK has entered into an exclusive manufacturing 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 room airconditioners. 2002 -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 each. -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. 2003 -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 logistics. -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. 2004 -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 mobile shelters. 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 at Hyderabad - 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 2005 -Blue Star joins hand with FCE -Blue Star sets up new factory at Kala Amb in Himachal Pradesh 2006 -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 2007 -Blue Star sets up its fifth factory at Wada, Thane District -Blue Star and Arctic India join hands to promote Air Management 2008 --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 2009 -Blue Star launches innovative cooling solution for storage of seeds -Blue Star to aggressively promote LEED consultancy services for Green Buildings -Blue Star bags order for airconditioning Raipur airport 2010 - 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. 2011 -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 2012 -Blue Star Ltd has proposed a Dividend of Rs. 1/- per equity share of Rs. 2/- each (50%). 2013 - 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 Company. 2014 - 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. 2015 -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'. 2016 -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 FY17". 2017 -Blue Star sets a new industry benchmark with its latest range of split and inverter air conditioners -Star Limited signs distributor agreement with OMASCO for its applied systems and unitary air conditioning products -Blue Star expands its range of stylish and differentiated water purifiers; to make deep inroads across 100 towns in the country 2018 -Blue Star launches 100 new air conditioners including 40 highly energy-efficient inverter split air conditioners, designed to deliver extraordinary benefits -Blue Star wins prestigious Engineering Facility Management (EFM) orders from Airport and Metro segments -Blue Star Engineering & Electronics wins a prestigious order for 28 Medical CT Scanners from Uttar Pradesh Medical and Health Services 2019 -Blue Star launches 75 new air conditioner models to celebrate its 75th Anniversary; range includes inverter ACs with 30% extra cooling and significant power savings B-lue Star expands operations in the Middle East, inaugurates a new office and state-of-the-art flagship showroom in Dubai -Blue Star launches 34 new models of water purifiers with RO, UV, UV LED, RO UV, and RO UV UF technologies including variants that enriches water with essential minerals -Blue Star wins prestigious Air Conditioning and Tunnel Ventilation System order of Rs 253 crores from Mumbai Metro Rail Corporation 2020 -Blue Star wins the prestigious `Golden Peacock Award for Corporate Ethics' for 2019 -Blue Star launches a new range of 'Premium-Yet-Affordable' Residential Air Conditioners -Blue Star wins another prestigious order valued at Rs 149 crores for Electrical & Mechanical works -Blue Star wins The Best Governed Company award for Excellence in Corporate Governance 2021 -Blue Star's subsidiary performs Bhoomi Pujan and commences construction of new world-class manufacturing facility at Sri City -Blue Star launches a comprehensive range of affordable ACs in line with its mass premium positioning 2022 -Blue Star inaugurates its new first-of-a-kind Customer Experience Centre for Non-Destructive Testing systems at Thane, Maharashtra. -Blue Star declared winner of the prestigious `Golden Peacock Award for Excellence in Corporate Governance'. -Blue Sta launched New range of deep freezers offering optimum storage space and cooling. -Blue Star inaugurates a new Medical Diagnostic Equipment Refurbishment Facility at Bhiwandi, Maharashtra. 2023 -The Company has issued Bonus Shares in the Ratio of 1:1. -Blue Star Limited launches new range of Room ACs for 2023; wholly owned subsidiary Blue Star Climatech Limited commences commercial production in its state-of-the-art, automated and smart plant at Sri City. -Blue Star launches its new range of best-in-class deep freezers with more storage and higher cooling capacity manufactured at the Company's new state-of-the-art Wada Factory. -Blue Star forays into the Railway Electrification space, wins four orders worth Rs 575 crores from prestigious customers namely West Central Railway; CORE; and Metro Railway, Kolkata. -Blue Star Industrial Solutions announces partnership with Gebhardt Intralogistics Group of Germany, for warehouse automation solutions. 2024 -Blue Star launches a new range of energy-efficient deep freezers from 60 to 600 litres. -Blue Star launches a new range of over 100 affordable and premium models of room air conditioners.