B Thiagarajan, MD of Blue Star, is not overly worried about the slowdown in the consumption space impacting demand for air conditioners. The company is looking at a 10-15 percent growth in cooling products business, he said in an interview to CNBC-TV18.

“I don’t think we will be insulated from the slowdown but at the same time the market is not bad for air conditioners. We had a great summer season. The market should have grown by around 22 percent in Q1 and we had grown by 25 percent, so summer season saw us through,” said Thiagarajan.

"However, the refrigeration market that peaked in Q4, was muted in Q1 but Q2 has seen good demand," he said, adding that the order inflow across many segments remained healthy and the pending order book is at an all-time high of Rs 2,841 crore, up 34 percent from last year.

According to him, "the demand is more for low-end products and most of the sales are through consumer finance schemes, almost to the tune of 40 percent."

First Published:Aug 21, 2019 10:24 AM IST