Blue Star targeting to double exports within 3 years, says top official
Blue Star Ltd aims to double its exports within three years as the company looks to expand its international presence.
B Thiagarajan, managing director of Blue Star, said the company’s exports are worth around Rs. 800 crore at present, and it would like to double this value within three years.
According to Thiagarajan, the company will expand its international presence.
“We were only in the Middle East (earlier). This year, we opened an office in the US, Japan and Europe. Therefore, we want to enter these markets,” he said.
“You know China plus one strategy. People want to look at India other than China. Under that, we’re exploring these markets. Today, we’re exporting around Rs 800 crore, and we’d like to double it in three years,” Thiagarajan told PTI here.
He pointed out that the air-conditioning market in the United States and Europe is very large compared to India.
He added that this year the company also secured a “major order from Bengaluru Metro, worth over Rs 500 crore”.
On the company’s plans, he said, “We want to consolidate our leadership in the existing business…Second is to get into large refrigerants. We used to manufacture up to 600 tons of refrigerants, and now we’re going to manufacture up to 1,000 tons… Third, expand our international footprint.” .
The commercial air conditioning and refrigeration segment manufactures a wide range of chillers that cool spaces such as office complexes, IT parks, hospitals, airports, hotels and shopping malls.
Blue Star Ltd has recently unveiled a comprehensive range of air conditioners, including the ‘best in class affordable’ range and ‘flagship premium’ range, for the summer season.
The company is targeting to sell 1 million units this year as opposed to over 8 lakh units last year.
Responding to a question, Thiagarajan said that split air conditioners are in demand across the country more than window ACs.
The company has an agent network of 8,000 people. “We’d like to get to 10,000 this year,” he said.
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