Blue Star’s cooling product segment has always outperformed the market growth, helping to grow both top line and bottom line. After many quarters the company has witnessed growth in the Electro Mechanical Projects and packaged Air Conditioning segment due to increasing government spending in infrastructure projects. However, there was some impact of de stocking due to GST implementation which resulted in lower growth during the quarter and the impact of GST will be evident for next couple of quarters and the operations are expected to normalize by the end of FY18.

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