THIAGARAJAN
Market size expected to reach 25 million units by 2030: B Thiagarajan, Blue Star
See, tier three, four, five have been contributing significantly. My estimate is that close to 65% for the industry comes from tier three, four, five. In our case, it is around 68% or so. The important thing is more than 90% are first-time buyers and Nilesh will be able to explain further, the consumer finance scheme led sales is touching around 55%.
Expect 30-40% growth in air conditioner sales this year: B Thiagarajan, Blue Star
B Thiagarajan, MD of Blue Star, discusses the growth and outlook of the AC industry for FY24, including unexpected growth in March and projected growth in April, market hold up post 2023 summer, potential for India to overtake China by 2040-2045, consumer finance trends, and capacity planning to meet increasing demand.
Blue Star expects 25 pc growth in sales of residential AC in June quarter
Blue Star is witnessing a significant demand coming from the burgeoning middle-class consumers with higher disposable incomes and the category becoming more of a necessity than a luxury.
15% CAGR and 15% market share is our goal: B Thiagarajan, Blue Star
B Thiagarajan, MD of Blue Star, aims for a CAGR of 15% and a market share of 15%. The IMD has forecasted higher temperatures. Blue Star is preparing for a great summer season but is aware that a spell of rain could spoil the outlook. . The B2B segment and commercial air conditioning and refrigeration are also performing well.
Demanding constitutional rights, not creating north-south divide: Yechury
CPI(M) general secretary Sitaram Yechury criticized Prime Minister Narendra Modi for accusing the opposition of creating a north-south divide in India. Yechury argued that the opposition is not trying to divide the country, but rather converting India's secular, democratic republic character into a fascistic, rabidly intolerant Hindutva rashtra. He argued that the Centre needs to understand India's geography and that the chief ministers of Delhi and Punjab joining a protest staged by Kerala government leaders show that there is no such division.
Blue Star QIP a well thought out decision, timing is also right: B Thiagarajan, MD
"The issue was subscribed well. We have quite a few existing foreign shareholders building further — HSBC Global and the domestic funds like SBI or Kotak, HDFC, Birla. We also have new foreign institutional investors like Fidelity, ADIA and so on. So, basically the fund is being raised to support the growth plans that Blue Star has."
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FY24 will end with at least 10%, even 15% growth in room AC: Blue Star MD
"We have a strategy to develop products for the affordable segment, the bottom of the pyramid because growth comes from first-time buyers. That is where 95% of the sales are happening and the aspirational middle class forms 65% of the market in tier-2, tier-3 and tier-4 towns. We entered that segment only last year. "
Our goal is to reach a market share of 15% by FY25: B Thiagarajan, Blue Star
Our market share stands at around 13.5%. Our goal is to reach a market share of 15% by FY25. Our goal remains unaltered and the differentiation is basically the brand.
Young adults who are addicted to smartphones suffer more from stress & suicidal thoughts: Study
The study, titled ‘Age of first smartphone and mental wellbeing outcome’, was conducted in over 40 countries and included over 27,969 adults aged 14–18 years of age.
Blue Star targeting to double exports within 3 years, says top official
Blue Star Ltd is targeting to double its exports within three years as the company looks to expand its international footprint. Blue Star Managing Director B Thiagarajan said the company's exports are worth around Rs 800 crore at present and would like to double these within three years. According to Thiagarajan, the company is going to expand its international footprint.
Modern Love Chennai: Amazon Prime Video announces release date; Here’s all you need to know
The Tamil version of Modern Love, called Modern Love Chennai, is scheduled to be released online soon. Prime Video, the streaming service, has announced on which date the third Indian adaptation of the popular show will premiere on the platform.
We are being chased for faster deliveries across various locations: B Thiagarajan, Blue Star
Air conditioner and deep freezer manufacturers are experiencing high demand as the market gears up for the summer season. Blue Star MD B Thiagarajan, said that demand has picked up well across various regions, particularly in the south and west, leading to orders for faster deliveries. He estimates an overall 25% growth in the market from March to June, and predicted that the market would reach 10 million units this financial year.
Blue Star enters into Railway Electrification space, wins 4 orders worth Rs 575 cr
According to a statement shared with stock exchanges, the company has bagged four railway electrification orders from various prestigious customers including the West Central Railway (Kota Division), Central Organization for Railway Electrification (CORE), and Metro Railway, Kolkata.
Blue Star to take up expansion at Dadra and Sri City manufacturing facilities
Blue Star Ltd., a home appliances company, is expanding its production facilities in Dadra and Sri City, Gujarat and Andhra Pradesh, respectively. The company expects to register about Rs 8,200 crore in revenue this year. The new initiatives undertaken by Blue Star include the production of deep freezers at its facilities in Dadra and Sri City.
We will achieve a market share of 15% by FY-25: B Thiagarajan, Blue Star
I would not say that it has normalised but there are no concerns as of now. We all saw raw material at a higher level than what is required because we do not want the summer season to be interrupted in any particular manner at all.
Air purifier sales rise amid bad air as people take off masks
The air quality in Delhi-NCR has already hit the ‘very poor’ category and is forecast to deteriorate further this week due to weather patterns and stubble burning. Pollution levels are also increasing in other metros and cities. Brands said Covid and the resultant stress on health and hygiene among consumers is boosting air purifier sales. LG Electronics India vice president Deepak Bansal said consumers are now much more sensitive to health issues, with sales picking up the week before Diwali.
Blue Star bags two orders worth Rs 390 crores from Bangalore Metro
The first order, worth Rs 203 crores, is a turnkey project including maintenance works for Tunnel Ventilation System (TVS) and Environmental Control System (ECS), as well as SCADA works for six underground stations and associated tunnel sections in Reach-6 of Bangalore Metro Rail Project Phase-II.
Fall in raw material prices to benefit Blue Star from Q3 onwards: MD
“There are always raw materials and other components which have been procured yearly and those are going to run through the next couple of months. One expects that in Q3 and Q4, the margins could be better than what we delivered in Q1 or what we will deliver in Q2.”
Centre's taxes on fuel prices continue to be exorbitant: TN FM responds to comments made by PM
Minister for Finance and Human Resources Management Palanivel Thiaga Rajan said the taxes on fuel prices levied by the Centre continue to be "exorbitant" and it was neither 'fair' nor 'feasible' for the State to further reduce it.
Blue Star to double production capacity of deep freezers, sets up new unit
The facility to produce deep freezers and water coolers, was fully equipped with the latest advanced manufacturing systems and imbibes global best practices in its operations, Managing Director B Thiagarajan said.
Blue Star hikes prices by 2-3% but expects 25% growth over 2019: MD
“With effect from this week, we have increased the prices by 2-3%. Now our stated objective is to ensure that the affordability is maintained. In other words, we are ensuring that the entry level product prices are more or less remaining the same because we have re-engineered or redesigned our products.”
Tamil Nadu democratised religion over 100 years ago...tough for radicalism: FM Palanivel Thiagarajan
Palanivel Thiagarajan also said the DMK government, under chief minister MK Stalin, would seek to attract investment in the state from around the world and also work to accommodate employers who may want to shift their businesses from Karnataka to TN owing to growing communal tensions in Karnataka.
Blue Star expects 20-25% growth; will decide on price rise in middle of April: MD
“The Russia Ukraine war has led to higher input costs. Also if the summer season is better than what we all planned for, then we may exhaust our stock by May itself and therefore we have decided that we will review the prices by the middle of April once again.”
Hindi adaptation of Jackie Shroff-starrer Tamil action thriller 'Aaranya Kaandam' in the works
The Tamil film was released in 2010 and went on to garner critical acclaim.
Blue Star ROC will be an industry benchmark, says MD B Thiagarajan
“We managed to improve our market share by redesigning the product portfolio and also ramped up our distribution penetration in the northern region. As we improved our market share from around 13% to 13.25%, that has given us a growth which exceeded the market expectations. Q4 will also be good.”
EV equivalent for air-conditioning industry yet to be launched: Blue Star MD
Blue Star will not consider price hike till summer season, says B Thiagarajan.
Sharing of powers of direct taxation and indirect taxation is unfair: Tamil Nadu govt
Speaking at the 46th meeting of the GST Council held in the national capital under the chairmanship of Union Finance Minister Nirmala Sitharaman, Thiagarajan said the hike on the fabrics including handloom manufactured from the natural fibre will dampen demand and thereby the farmers and MSMEs will be indirectly affected.
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