Blue Star doesn't expect the AC market to see a V-shaped recovery, B Thiagarajan, managing director (MD), told CNBC-TV18.
“FY22 growth for room air-conditioners should be at least 10-15 percent compared to FY20. The recovery may not be as robust as we saw last year but it will continue to grow and even during the lockdown period the purchases were happening. So bottomline is, it will not be a very big V-shaped recovery that I see, we have to wait for the festival season to determine that,” he said.
On discounts, Thiagarajan said, “We will not be looking at price rise till October and at the same time we are not looking at any discounts at all because the price hike that was taken was just sufficient for maintaining the margins.”
For the entire management interview, watch the video