We expect room AC industry to grow 10 percent in FY19, said B Thiagarajan, joint MD, Blue Star.
“I don’t think there will be less than 10 percent growth at all. In the month of April and May, there would have been around 20 percent degrowth in the market place,” he said.
“Maharashtra, Gujarat and northern India did well in the month of June. Having said that, I continue to maintain that the overall market growth will be 10 percent at least,” he added.
We think eventually the market will grow but Q1 is not going to be a growth quarter for the market at all, said Thiagarajan.
“I don’t think it is going to be a good quarter for room air-conditioners,” he further mentioned.
“We will do better than the market and by the end of FY19, room air-conditioning market would have still shown growth,” Thiagarajan said. – CNBC TV18