Godrej Appliances target 40% contribution to mother company turnover

Kolkata, Jun 19 (UNI) Godrej Appliances has targeted an annual turnover of Rs 1,000 crore in order to contribute a 25 per cent towards Godrej and Boyce Manufacturing Company Limited's Rs 4,000 crore at the end of the cuurent fiscal.

Last year the annual turnover of Godrej Appliances was Rs 800 crore.

Speaking to media persons here Godrej Appliances and Boyce Manufacturing CEO George Menezes(Appliance Division) today said ''We are targeting 35 per cent of the total refigerator market and would also set up one new unit within the Mohali factory area, thereby increasing the total refigerator manufacturing capability from 12 lakh to 15 lakh units per annum.

Currently the company manufactures both refrigerators and compressors in Mohali.

Currently the Godrej and Boyce refrigerator market share is about 20 per cent.

The company has also launched refrigerators and other products under the EON range.

''We want to target the young consumers for this premium segment,'' he said.

''We have sold 1.2 lakh refrigerators between March-May this year, registering a 45 per cent increase contributing to Rs 120 crore to our sales basket,'' he added.

Last year, the company market grew by 30 per cent compared to an industry growth of 12-15 per cent.

UNI