New Delhi, Mar 17 (PTI) Blue Star expects a growth of 25 per cent in sales of refrigeration products and cooling products next fiscal compared to 2019-20, according to a top company official.

The company, which like other players in the segment had witnessed a de-growth during the summers season in the financial year 2021, expects the next fiscal to be good for cooling products supported by factors like work from home.

"We are expecting a growth of 25 per cent (in value) in the financial year 2022 for refrigeration products and cooling appliances, which includes room air conditioners, air coolers and deep freezers," Blue Star Managing Director B Thiagarajan told reporters during a virtual press conference.

This is in comparison with financial year 2020 since "in the financial year 2021, the market was hit by the pandemic", he noted.

In fiscal 2020, Blue Star had a revenue of Rs 4,786.49 crore.

On Wednesday, Blue Star announced the launch of its new range of mass premium split air conditioners.

"The company has strategically repositioned its brand to include the 'Mass Premium' category with the intent to expand its market reach and target the mass market," it said.

The new range comprises 3-star, 4-star, and 5-star inverter split air conditioners. The price starts from Rs 25,990 for an 0.80 tonne air conditioner.

"We have strategically repositioned ourselves as a 'Masstige' brand with the launch of our new range of split ACs, to cater to the mass market and expand our market reach," Thiagarajan said.

This move is well-aligned to its last year's aim of shifting orbit and accelerating growth by garnering a mass appeal cutting across geographies and demographics, he added.

Blue Star, which has roped in India cricket team captain Virat Kohli as its brand ambassador, said his mass appeal has been enabling the company to connect to and widen its base from Tier I & II to smaller Tier III, IV & V towns.

"Currently, Blue Star has 200 exclusive brand stores in the country, and work is in progress to increase it to 250 stores by the end of the financial year 2022," it said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)