Blue Star expects a growth of 30% in FY 2017
The Dollar Business Bureau
Blue Star, the largest air conditioning (AC) and commercial refrigeration company in India, has expected a total growth of 30 percent during the financial year 2016-17.
During a press meet on Tuesday, B Thiagarajan, Joint Managing Director, Blue Star said, "As a brand, Blue Star continues to be a major player in the commercial and corporate segment which consists of a 25 percent of the total market size.”
In the last financial year, the company grew at a rate of 20 percent which is more than the growth of industry and had a market share of 10 percent, Thiagarajan said.
He further said that we wish to continue to grow at the same pace with our aggressive drive in the room AC segment and target to capture a market share of 12 percent in the current financial year.
Being in the industry for more than 7 decades, Blue Star has a considerable presence in the country’s North East region, with sales share of 6 percent.
The company is also planning to invest more than Rs.30 crore on new products development and also in its research and design initiatives during 2016-17. Besides, it also plans to diversify its product portfolio in the water and air purifier segment.
Thiagarajan informed that about 50 percent of room ACs sales was from tier III, IV and V cities and the company continues to focus in these areas.
The e-commerce sector has also emerged as a key driving factor for sales and "we believe 30 percent sales from this segment by 2018," he added.