Highly India plans to produce 3 million AC compressors by FY20

Air-conditioner compressor maker Highly Electrical Appliances India today said it is planning to increase its production capacity from two million compressors to three million by FY20.

The company said it is yet to decide if the expansion will be in its current factory in the state or through a greenfield development.

"From the investment point of view, we have doubled our production capacity from one million units to two million by FY17. We have an expansion plan to increase our production capacity from two million units to three million by FY20," said Li Haibin, chairman, Highly Electrical Appliances India.

Sameer Bhargava, director and vice-president of the firm, said, "We are in the process of making a decision to expand a factory or build a new one. That will be depend on how the market grows and needs of our customers."