Business Standard

Ac

PLI scheme boosts AC industry; localisation doubles in two years

Cost disadvantage for Indian manufacturers competing with other countries falls to 12% from 18% earlier

PLI scheme boosts AC industry; localisation doubles in two years
Updated On : 04 Sep 2024 | 10:36 PM IST

Major domestic appliances market sees 18% growth in first half of 2024

The market of major domestic appliances saw an 18 per cent value-based growth in the first half of 2024, helped by a strong demand for essential household items, according to a report from GfK. The growth in MDA (major domestic appliances) market was led by Key categories such as air-conditioners and refrigerators, which reported a growth of 30 per cent and 7 per cent, respectively. "This growth is 3X of growth in 2023 over the previous year," said the report from GfK, which is now an NIQ Company, a leading global market and consumer intelligence firm. The small domestic appliances market recorded a 29 per cent increase in value, reflecting heightened consumer interest in home convenience products, according to the report. The report also added that customers are now looking for feature-rich and premium products, which is fuelling the value growth in the appliance segment. Now washing machines with capacities of 9kg or above have recorded an "impressive growth rate of 30 per cent"

Major domestic appliances market sees 18% growth in first half of 2024
Updated On : 12 Aug 2024 | 7:16 PM IST

Blue Star Q1 results: PAT jumps 102.6% to Rs 169 cr, revenue up 28.7%

Blue Star's consolidated net profit rose 102.6 per cent to Rs 169 crore ($20.14 million) for the three months ended June 30, surpassing analysts' expectations of Rs 141 crore

Blue Star Q1 results: PAT jumps 102.6% to Rs 169 cr, revenue up 28.7%
Updated On : 06 Aug 2024 | 4:53 PM IST

Air conditioner manufacturers raise capacity to cater to demand surge

The investment will help the co to increase production capacity to 15 lakh units per annum at both plants. It currently produces 9 lakh units at its Ghiloth plant and 11.2 lakh units at Sricity plant

Air conditioner manufacturers raise capacity to cater to demand surge
Updated On : 14 Jun 2024 | 8:29 PM IST

Schneider Electric invests Rs 100 cr in new cooling factory in Bengaluru

Eighty-five per cent of the products manufactured in this factory will be exported, significantly catering to the data centre segment, as well as to buildings, industry, and infrastructure

Schneider Electric invests Rs 100 cr in new cooling factory in Bengaluru
Updated On : 21 Mar 2024 | 5:37 PM IST

Hitachi loses position among top-three selling air conditioner brands

From 2020-21, Johnson Controls-Hitachi Air Conditioning India has seen its profits shrink year-on-year and the firm went into losses in 2022-23

Hitachi loses position among top-three selling air conditioner brands
Updated On : 20 Jun 2023 | 2:43 PM IST

Mitsubishi Electric to set up AC manufacturing plant in Chennai

Mitsubishi Electric will set up a plant to manufacture air conditioners and compressors at Mahindra World City Developers' industrial park in Chennai with an investment of USD 222 million. The new factory will be Mitsubishi Electric's first air conditioners and compressors manufacturing facility in India. This factory will cater to the growing air conditioner demand in the domestic market and is expected to begin operations by October 2025, Mahindra Lifespace Developers said in a regulatory filing. Mahindra Industrial Park Chennai Ltd (MIPCL), a joint venture between Mahindra World City Developers Ltd and Sumitomo Corporation of Japan, has signed Mitsubishi Electric India Pvt Ltd and has given land in its industrial park to set up the facility, it added. "Recognised as the world leader in electric and electronic equipment manufacturing, Mitsubishi Electric will set up a plant to manufacture air conditioners and compressors spread across 52 acres at Origins by Mahindra, Chennai," the

Mitsubishi Electric to set up AC manufacturing plant in Chennai
Updated On : 17 Apr 2023 | 3:37 PM IST

Blue Star eyes Rs 10k cr revenue in medium term, to enter western countries

Air conditioning and commercial refrigeration major Blue Star aims to grow its revenue to Rs 10,000 crore in the medium term and plans to enter North American and European markets, according to the latest annual report of the company. The company is now gearing up for the next phase of growth and as part of that, is focusing on building scale. The next phase of growth will see Blue Star becoming a more eminent player on the international front and consolidate its position in the Middle East, Africa, and South Asia regions with deeper market penetration and the introduction of innovative products and solutions, said Vice Chairman & Managing Director Vir S Advani. "We have set more ambitious goals to expand our global footprint with a strategy to enter North America and Europe as an Original Design & Manufacturing (ODM) solutions provider," said Advani while addressing shareholders. Besides, Blue Star will further strengthen its R&D and innovation capabilities and deploy the

Blue Star eyes Rs 10k cr revenue in medium term, to enter western countries
Updated On : 08 Jul 2022 | 5:04 PM IST

Street signs: Macrotech GMP muted, PLI boost for AC companies & more

With the markets turning range-bound, investors are looking for bottom-up investment opportunities

Street signs: Macrotech GMP muted, PLI boost for AC companies & more
Updated On : 04 Apr 2021 | 9:44 PM IST

Environmental sustainability is no longer just a buzzword: Gurmeet Singh

It makes a business more profitable, Singh tells Shubhomoy Sikdar

Environmental sustainability is no longer just a buzzword: Gurmeet Singh
Updated On : 08 Oct 2019 | 10:14 PM IST

AC major Blue Star to set up 2 units at Rs 215 crore investment

The company had sold 3.1 lakh room ACs last fiscal

AC major Blue Star to set up 2 units at Rs 215 crore investment
Updated On : 11 Apr 2016 | 7:03 PM IST