Blue Star Ltd is targeting to achieve a market share of 15 per cent by FY2025 in room air conditioners segment, according to company's Managing Director B Thiagarajan.
The air-conditioning and commercial refrigeration major is also targeting to sell one million units this year as against over 8 lakh last year.
They are targeting a market share of 15 per cent from present 13.5 per cent, Thiagarajan said here on Tuesday.
Blue Star is also eyeing a good growth from the north Indian markets, including Punjab and Jammu and Kashmir. In J&K, the company commands a market share of 14 per cent, he said.
He was interacting with reporters here after unveiling Blue Star Ltd's comprehensive range of air conditioners, including "best-in-class affordable" range and a "flagship premium" range, for the summer season.
Overall, the company has launched nearly 75 models across the spectrum of inverter, fixed speed and window air conditioners, and across price points to cater to every consumer segment, he said.
Thiagarajan said that the company forayed into the residential ACs segment in 2011.
"Durability, affordability, reliability, energy efficiency and being aesthetically superior are some of the qualities of our air conditioners," he said.
The company, being a strong proponent of the Atmanirbhar Bharat Abhiyan, through its wholly-owned subsidiary Blue Star Climatech Ltd, has set up a manufacturing facility at Sri City in Andhra Pradesh, a company statement said.
Blue Star Climatech commenced commercial production of room ACs at this facility in January 2023 and Blue Star will source some of its new products from there.
Located closer to the southern ports, Sri City plant will enable efficient logistics management for the company by ensuring speedy movement and containing cost, the statement said.
The company has so far invested approximately Rs 350 crore on this plant and will make about 3 lakh units in its first year and will gradually scale up production to 1.2 million units, thereafter, as per the statement.
With this plant in place, Blue Star intends to leverage the synergies between the company and this plant, to enable Blue Star to further accelerate growth in room ACs segment, especially in Tier 2, 3, 4 and 5 markets, apart from Tier 1, Thiagarajan said.
"Blue Star will continue to invest in expanding distribution footprint, enhancing R&D capabilities and brand building. All of this, in turn, will enable us to roll out affordable best-in-class room ACs. Our new range of room ACs for 2023 strongly recapitulates our focus in this direction," he said.
About the new range of ACs, the statement said, the company came with a host of various customer-friendly features and specifications.
One of the features in Blue Star's inverter ACs is that they have a wide operating voltage range, thus eliminating the need for an external voltage stabiliser, it said.
The company said they have launched a formidable range of flagship models comprising 'super energy-efficient ACs, 'heavy-duty ACs', 'smart ACs', 'ACs with hot and cold technology', and 'ACs with anti-microbial filter' to offer a comprehensive solution to any type of consumer need.
It claimed that the company's air conditioners with 'hot and cold inverter technology' can operate even in extremely low temperatures. Blue Star has developed one model which can operate at ambient temperatures of down to minus 10 degrees Celsius specifically designed for markets such as Srinagar.
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