Godrej eyes Rs 1,400 cr turnover in FY08
New
Delhi,
Aug
29:
With
the
introduction
of
a
new
array
of
home
appliances
and
by
augmenting
the
production
capacity
of
Mohali
and
Shirwal
plants
the
home
product
division
of
Godrej
and
Boyce
Ltd
expects
to
clock
a
turnover
of
Rs
1,400
crore
this
fiscal.
''Our completely indigenous technologies developed by Godrej and endeavour to launch new products every time will boost the sales,'' Godrej Appliances Chief Operating Officer George Menezes said while unveiling EON washing machines here today.
The company recorded a turnover of Rs 1,000 crore last fiscal.
Presently, the company has a market share of eight per cent in the washing machine segment, which it targets to increase to 12 per cent, company's Vice President (Sales and Marketing) Kamal Nandi told reporters.
Mr Nandi further said Godrej will pump in Rs 80 crore on both plants to upgrade the production capacity of refrigerators to 1.5 million units by 2008, while the capacity of washing machines wll remain the same.
Godrej Appliances launched the Godrej EON washing machines with Dynamic Aqua-power Control (DAC) technology, priced between Rs 12,500 to Rs 14,000.
''We have been conducting extensive research on the washing machine needs of consumers, and the problem of water and power shortages and power shortages stood out clearly. These washing machines are crafted like EON range refrigerators and air-conditioners, to deliver the promise of EON Stylish outside, Smart inside,'' Mr Menezes said.
The washing machine market is growing at 20 per cent.
The EON washing machines will be available in the north markets through Godrej's own showroom dealer network.
Meanwhile, company's President and Executive Director Phil Lam said the parent company is targetting a turnover of Rs 3,600 crore this fiscal, driven by its 14 businesses and a growth of 30 per cent.
UNI