Onida launches 84 new Inverter Air Conditioner models to double its revenues


New Delhi, March 14, 2018 :Mirc Electronics Ltd. (Onida), a leading consumer durables company, today launches 84 new inverter air conditioner models to double its revenues in the segment to Rs. 720 crore. The new range of air conditioners promise to deliver 170% faster and powerful cooling along with saving energy bills and ensures to keep the environment safe.

Onida’s Inverter Air Conditioners are designed with world’s best DC inverter compressor and advanced fast control technology with dynamic sensors, which continuously senses & monitors the room temperature and provides up to 170% faster cooling. These ACs are designed to provide up to 130% more cooling and have high seasonal energy efficiency ratio (SEER) to provide up to 65% savings in energy bill under part load conditions.
Onida Inverter Air Conditioners operates with-in a wide Voltage Range of 160V~250V and has a capability to withstand electricity fluctuations without the requirement of a stabilizer. With its 100% copper, the Inverter Air Conditioners are capable to cool even at 52 degrees.

Besides, Onida’s Smart Inverter Air Conditioners are enabled with IOT (Internet of Things) which allows the user to operate the AC and control its various functions through a smart phone from anywhere in the world. Intelligent functioning, Super silent operation, environment friendly R32 / R410a refrigerant, efficient system design to give high energy efficiency, makes Onida Inverter Air Conditioners truly best in class.

Company’s revenues from air conditioners segment in FY16, were at Rs. 286 crore, grown by 27% to Rs. 364 crore in FY17. The contribution to overall revenues of the company from air conditioners has grown from 35% in FY16 to 46% in FY17.Current penetration of Air Conditioners in India is 5%, which is very low when it comes to developed countries which is at 60%..Non availability of electricity supply in major parts of the country during summer season was a problem till five years back. However, the things on the ground are changing, as overall infrastructure of the country is changing and due to high globally warming there is an increase in temperature every summer making it unbearable and difficult to survive the heat up to 52˚C. The perception on air conditioners is changing from a luxury appliance to being a necessity.

Onida has been a dedicated company, which takes care of after sales service of all products, which has been our biggest strength in winning and retaining our consumers.Upbeat on the development, Mr. G. Sundar, CEO, Mirc Electronics Ltd. said that, “We currently have a market share of 8% in the split air conditioners, which would grow to double digits in the years come on account of increasing demand for air conditioners in the country. The affordability of the consumers and increasing global warming are the biggest growth drivers for increasing volumes in air conditioners in the country”

About Mirc Electronics Limited:
Mirc Electronics Ltd., the makers of Onida, was started by Mr. G. L. Mirchandani and Mr. Vijay Mansukhani in 1981 in Mumbai. ONIDA today enjoys a strong equity among consumers, making it one of the leading brands in India. Besides being a leading brand in LED Televisions, air conditioners and washing machines, ONIDA has established itself as a strong player in the household appliance categories of Microwave Ovens.

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