Panasonic India eyes 15% AC sales growth to Rs 1,400 cr next fiscal

Consumer electronics major Panasonic India is eyeing 15 per cent growth in air conditioners sales to Rs 1,400 crore in the next fiscal driven by new premium products, a company official said.

The company is expected to close the current fiscal with an AC turnover of Rs 1,220 crore.

It is also looking at over 30 per cent increase in distribution outlets for air conditioners (AC) to 12,000 in two-years' time as against 9,000 in the current financial year.

"After a flat sales growth in the current fiscal due to factors including climate..we are looking 15 per cent sales growth in AC business in the next fiscal. We expect a hot summer in 2019 which will help the industry," Gaurav Sah, Business-head, Air Conditioners Group, Panasonic India told PTI.

Premium products with superior product features like invertor technology and higher energy efficiency will drive sales growth for the company, Sah said.

"Premium products account for 60 per cent of our total sales," he added.

Panasonic India Thursday launched new products ahead for the summer season, which accounts for bulk of sale of the air conditioner companies.

It has launched new products under Advance and Arch series. The products are priced between Rs 39,900 and Rs 53,990 in 3-star and 5-star categories across 1, 1.2, 1.5, 2 ton variants.

Post this launch, Panasonic India will have 54 AC products in its portfolio.