Blue Star investing to enhance production
"This investment is to reduce the imports from overseas," Blue Star managing director B Thiagarajan said.
Hyderabad: Air-conditioner and commercial refrigeration company Blue Star has earmarked investments to enhance capacities at its facilities across India. The company is investing Rs 250 crore for its facility in Sri City in the first phase and an additional Rs 270 crore in the second phase, scheduled over the next 2-3 years. Under the deep freezer segment, it has invested Rs 150 crore at its Wada facility in Thane district of Maharashtra to augment production.
“This investment is to reduce the imports from overseas,” Blue Star managing director B Thiagarajan said. Blue Star’s manufacturing footprint spans five state-of-the-art manufacturing facilities.
The company which unveiled a new range of products on Wednesday under the ‘affordable’ segment said the country’s AC industry is expected to witness a 15-20 per cent growth, while it hopes to achieve 25 per cent growth in FY22.
The new range of ACs introduced is priced at Rs 25,999 for a 0.8 tonne inverter split air conditioner and Rs 18,990 for a Window air conditioner. Blue Star currently has 200 exclusive brand stores across the country and plans to increase it to 250 by FY22. The room air conditioners are available at 7,000 outlets in 650 locations.
On the market share, he said, the company would continue to focus on occupying 15 per cent market share by 2024 and register a growth of 25 per cent in FY22. “We are confident of this goal of growing 25 per cent in FY22 and increasing our market share from 12.5 per cent to 13 per cent in FY22. We are already closer to this 13 per cent market share,” he added.
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