Godrej expects 30 per cent turnover growth

Kolkata, Sep 20: Godrej and Boyce Manufacturing Co. has targeted 30 per cent growth in its overall turnover at Rs. 4,500 crore this fiscal combining all of its 14 divisions.

"All our 14 divisions are growing in the range of 30 per cent and we are expecting to achieve an overall turnover of around Rs.

4,500 crore," Executive Director and President, Phiroze D. Lam, said while launching the company's new range of Godrej EON washing machine here today.

Mr.Lam said Godrej Appliances division, which clocked revenues of Rs 1,000 crore last year, registered a growth of over 42 per cent in the first quarter this year and was expecting a turnover of Rs.1,400 crore.

He said the company, eyeing the burgeoining commercial refrigerator and the cold storage market, was looking for technical acquisition in the international arena.

Commercial cooling is needed in the sectors of food and beverages, pharmaceuticals, hospitality and blood banks.

Mr.Lam said the company had a Rs. 3,500 crore capital expenditure target this year mainly for technical improvement.

"This is necessary for reducing production costs and improving product qualities," he said.

In reply to a question, Chief Operating Officer (COO) George Menezes said Godrej, aspiring to make foray in colour television manufacturing, was still evaluating the proposal.

"There is a promising space for entering the colour TV manufacturing business. But we are still thoroughly assessing it," he said.

UNI