Air conditioning & refrigeration company Blue Star Ltd. plans to make a foray into the water purifier business. The plan is to initially sell only home water purifiers before graduating to commercial purifiers, the company said in a media release.
The company plans to achieve 15 percent market share over the next three years, joint managing director B Thiagarajan said in the press release.
We are in the process of setting up a dedicated team for this business and will target to reach a market share of 15 percent in about 3 years from the launch.B Thiagarajan, Joint Managing Director, Blue Star
India's Rs 4,200 crore water purifier market has an annual compounded growth rate of 22 percent, with about eight million units being sold each year and electric water purifiers contributing to 70 percent of the sales, Blue Star said.
Shares of the company were trading 2.25 percent lower at Rs 562 per share, as of 1:25 p.m.
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