Blue Star plans to double export to Rs.200 crore by 2016
Kolkata, Feb 18 : In a bid to expand its footprint overseas, air-conditioning and commercial refrigeration major Blue Star is aiming to double its export volume to Rs.200 crore in the next three years, a top company executive said Monday.
The company is currently focusing on SAARC countries, especially Sri Lanka and Bangladesh, to scale up exports of its products like water coolers and room air-conditioners.
"We are not a very big player in the export markets. Currently, our total volume of export is about Rs.100 crore. Right now our plan is to expand reach to the SAARC countries like Sri Lanka, Bangladesh, Nepal and Bhutan," B. Thiagarajan, Blue Star Limited president, air-conditioning and refrigeration product group, said here.
Thiagarajan said the firm had already started exporting room air-conditioners in Sri Lanka and was also "working on" north Africa.
"We are getting into distributorship arrangements in Sri Lanka and Bangladesh. We have a three-year plan. In the current year, we will be concentrating on SAARC countries," he said.
The cooling product maker said now it was eyeing to explore these markets as it already has some presence overseas because of water coolers, and in room air-conditioner segment, it is "beginning to feel confident in India".
The firm, whose current turnover stood at Rs.2,700 crore, is expecting a 10 percent topline growth this fiscal-end.
"Room air-conditioners and refrigeration products like deep freezer, water cooler and cold storages will be the growth areas," Thiagarajan said.
The company is eyeing 9 percent market share in room air conditioner segment and 15 percent in commercial segment next fiscal.