Mumbai: Godrej Appliances, the consumer durables division of the Godrej group, has maintained its 20 percent annual topline growth target for this fiscal year as well at around Rs 5,200 crore.The city-based company had clocked a revenue of Rs 4,300 crore last fiscal year and expects ACs and washing machines, which have low penetration levels, to drive growth.
“We have been growing at 20 percent and this fiscal year, we will be at be around Rs 5,200 crore,” Godrej Appliances executive vice-president Kamal Nandi told PTI, adding over the next three years, the company aims to have a revenue of Rs 7,500 to Rs 8,000 crore. Nandi said sales in this summer should be better than last year when there were intermittent rainfalls and the company expects good growth in the cooling categories.
Godrej Appliances is present across 16,000 retail outlets, 100 exclusive outlets and 100 preferred stores. “We will double our exclusive outlets to 200 and the preferred outlets to 1,000 in the next three years,” he said on retail expansion and said online sales contribute 5-7 percent of total volume.The company has 4 percent market share in ACs that is around 6 million units a per annum, 14 percent in refrigerators that is estimated to be 11 million units, 10 percent in washing machines that is pegged at 6.5 million units and 5 percent in microwaves that is estimated at 1 million per annum.
Earlier this week, it launched a personal food and beverage cooling device called Qube and aims to sell 50,000 units this year and then double it to 1 lakh units next year.The company expects 40 percent of volume to come from online sales, and 20 percent from the hospitality sector. They are also evaluating export opportunities for Qube, he added.
