Godrej Appliances aims 10pc share in AC market in 5 years

Godrej Appliances Ltd is aiming for a 10-per cent market share in the air conditioner market over the next five years, a company official said on Tuesday.

"We are aiming for 20 per cent growth in ACs this year. Our market share is about 4 per cent, and in two years, the aim is to take it to 6 per cent.

"In the next five years, we want to take the market share to 10 per cent," Godrej Appliances National Sales Head Sanjeev Jain said.

The company's Business Head and EVP Kamal Nandi said the sector will gain more traction if the GST rates are rationalised for ACs from the existing 28 per cent.

"We have made a presentation to the government on ACs to rationalise the GST to 18 per cent. There is no reason why it should not be so, when cars and high-end mobile phones attract lower tax," Nandi said.

Nandi said he expects positive business environment this summer on the back of stable macro-economics, and an extended summer, a key factor to drive AC demand.

Godrej Appliances will introduce window inverter ACs in the north Indian market, another company official said.

The company on Tuesday claimed to have launched the "first AC in the country with the environment-friendly R290 refrigerant", along with a slew of other models.