Hyderabad: The general elections and IPL 2024 will boost the refrigerator business with an estimated growth of 25 per cent this year, said Blue Star MD B Thiagaranjan. He said the IMD weather forecast for the summer season will also benefit the air conditioners business.
Generally, during election time the refrigerator and AC business will slow down with less money circulation but this time there is a good activity in the business and a lot of optimism about sales, he said.
On launching Blue Star’s new range of deep freezers here on Thursday, he said that Blue Star has a 30 per cent of market share of all its products in the country with revenue of Rs 4,000 crore. “We are increasing our ACs production in Sri City plant to 12 lakh unit’s capacity by FY 2027 by adding 3 lakh units every year,” he said.
“This year we plan to invest around Rs 350 crore in AC manufacturing. We are witnessing huge demand this summer for commercial refrigeration and ACs,” he said.
