Blue Star, leading manufacturer of air-conditioner and commercial refrigeration, plans to commission its greenfield unit at Sri City in Andhra Pradesh by the financial year 2022. Construction activities at the plant would start in FY21 and the goal is to commission the unit by FY22. The company had acquired land at Sri City and the installed capacity would be five lakh units per annum.
Blue Star launched 75 new models of room air- conditioners during its platinum jubilee year in 2018, which include energy-efficient inverter ACs promising 30 per cent extra cooling over and above its rated capacity. Through range of new models and energy efficient products, the company aims to increase its market share from current 12.8% to 13.5% in FY20. The firm registered a revenue of Rs 4,600 crore last fiscal.
It intends to increase its investment to Rs 50 crore in FY20 as against Rs 40 crore in FY19 on new product development as well as on research and design initiatives. Blue Star plans to increase its exclusive brand stores in the country to 250 by the end of FY20 from the current 200.