India has been identified as a key market for Italy-based $1.3-billion Ariston Thermo Group, which is into water and space heating products. “India has been identified as a Rapid Development Country (RDCs) by the parent company. While India contributes roughly around 4-5 per cent of the total global turnover, this is expected to grow substantially in the coming years,” said Mathew Job, Managing Director, Racold Thermo.

Racold Thermo, a water-heater manufacturer is a fully-owned subsidiary of Ariston Thermo Group. Racold has a share of approximately 25 per cent of the Indian water heater market that grows roughly at 10 per cent annually.

“If you look at the penetration of the category, it is still low at around 10 per cent. This signifies that the potential for the category to grow is immense,” he adds.

Praying for a cruel winters, the water heater brand hopes to garner as much as 32-35 per cent of its annual turnover in the next three months (October-December).

“For the winters, we have launched a new range of energy efficient products comprising Eterno 2 and Eterno 3 series, Eterno DG and Altro 2 series.

The price range of these products range between Rs 7,000 and Rs 12,000,” said Job.

The company has 5,000 dealer network covering more than 500 cities and 150 service centres across India.

> heena.k@thehindu.co.in

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