Blue Star, a leading home appliances company, has announced plans to invest Rs 250 crore in the next financial year to enhance the manufacturing capacity of room air conditioners at its Sri City facility in Andhra Pradesh.
Currently, the company boasts a production capacity of 10 lakh room air conditioners across its manufacturing units, including the one in Sri City.
According to Blue Star’s Managing Director, B Thiagarajan, the company aims to increase its manufacturing capacity to 1.8 million units shortly. To achieve this, the Sri City facility will witness an addition of three lakh units in the coming fiscal year, with an investment of Rs 250 crore.
Thiagarajan highlighted the company’s ambition to secure a 15 per cent market share in the room AC segment. He acknowledged that to achieve this goal, it is essential to offer products at various price points. Currently, Blue Star commands a market share of 13.75 per cent.
In addition to expanding manufacturing capabilities, Blue Star plans to enhance its distribution network nationwide.
The company, which reported a revenue of Rs 8,000 crore in the last fiscal year, aims to achieve a turnover of Rs 9,500 crore by the end of the current financial year.
Thiagarajan emphasized the growth potential of the room AC market, stating that it is expected to more than double by 2030. Currently, the market size stands at approximately 10 million units per annum.
