Godrej expects to clock Rs 3,000 cr in 5 yrs

New Delhi, Jan 21: Godrej Appliances, a division of Godrej and Boyce Ltd, expects to clock a revenue close to Rs 3,000 crore in next five years with the introduction of latest technologies.

''We are currently growing at a 30 per cent rate and believe that our latest technologies will enable us to double the turnover in the near future, '' the company's Vice President (Sales and Marketing) Kamal Nandi told sources here.

Godrej manufactures its product according to the requirements of Indian customers and that is what another reason for the increasing growth rate, he added.

''After a close study of the consumer habits, we found that it is not the initial price of the product, which refrain customers to purchase products like air-conditioner, refrigerator but it is the running cost of power, which is not letting them purchase it,'' Mr Nandi said.

Considering the consumer requirement, we are equipped with latest technologies 'Blue Fin', 'I-trec' and 'Zop' which reduces the power consumption and the latter avoids the chances of rust in refrigerators, he added.

He further mentioned that the response from Eon refrigerators has been overwhelming from both the trade and customers. The refrigerator segment contributes 20 per cent of the market share which is expected to touch 23-25 per cent in two years.

Mr Nandi said that as far as marketing strategies are concerned the focus will be in brand makeover and to augment the refrigerator segment.

Besides, the company is also planning to launch electronic products in the future.

The company has recently forayed in the DvDs and air-conditioner segment and holds a market share of four and five per cent respectively and anticipates to reach 10 per cent in five years time.

It has also entered in the microwave category and expects to sell about one lakh units by 2007-08.

Godrej Appliances has won the best product design award for its Eon range of refrigerators in the consumer durables in the home section at the Business World-NID Design excellence awards 2006.

In addition to that, the company has also bagged the second consecutive CNBC awaaz Consumer Award for the most preferred refrigerator brand, and the most trusted brand from Reader's Digest, for excellence design award.

UNI