MIRC Electronics expects to double revenue from AC biz

MIRC Electronics, manufacturers of home appliances under the ONIDA brand, is eyeing to double its turnover in the air conditioner business to Rs 750 crore in 2015, a top official said today.
"In 2014 the market grew by 10-12 per cent. We expect it will grow at 15 per cent this year. Our target revenue from air-conditioner business is Rs 750 crore this year. Last year revenues from air conditioner business were Rs 350 crore", MIRC Electronics Ltd Vice-President, Marketing, N S Satish told reporters here.
Satish and top company officials were here to launch new range of air conditioners across various categories priced from Rs 22,890 to Rs 64,990.

Responding to a query, he said the company holds 9.5 per cent market share in split air conditioner segment and expects to garner 12 per cent market share in 2015-16.