Godrej & Boyce to set up new plant; ramp up capacity by 100%

New Delhi, Sep 5 (UNI) Consumer appliances major Godrej&Boyce Mfg Co Ltd (GBMCL) has chalked out an ambitious plan for expansion in the next six months, with the setting up of its new frost free refrigerator plant with a capacity of 3.5 lakh appliances near Pune.

The company will spent five per cent of its turnover, touted at Rs 1,000 crore during the financial year 2006-07, for the capacity expansion which turns out at Rs 50 crore.

''With our new plant at Shirwal near Pune, we will double the capacity of our frost free refrigerators by another 3.5 lakh per annum. For this, we will spend about 5 per cent of our turnover which is targeted at Rs 1,000 crore,'' GBMCL Vice President (sales and marketing) Kamal Nandi told reporters here today.

GBMCL wants to move to the 25 per cent mark in the frost free refrigerators segment in the next six months, from the current 12 per cent market share, with the launch of new innovative consumer products, Mr Nandi said at the launch of its 'eon' range of refrigerators.

The work for the Pune plant is in progress and it is expected to be operational in a year, GBMCL Chief Operating Officer George Menezes said.

At present, the company has two manufacturing units, one each for its washing machines and frost free refrigerators, at Pune.

It holds a cumulative 20 per cent market share in the refrigerators segment, including the direct cooling refrigerators.

GBMCL is present in categories like Air Conditioners, DVDs, Microwave Ovens, Washing Machines and Refrigerators. Its turnover for the appliances business stood at Rs 750 crore, a growth of 15 per cent year-on-year, during FY06.

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