Godrej Appliances expects to grow at 30% in FY16

New Delhi: Godrej Appliances expects nearly 30 percent growth in its turnover to touch Rs 3,600 crore in FY 2015-16 on the back of air conditioning and refrigerator segments. [caption id=“attachment_2103561” align=“alignleft” width=“380”]  Adi Godrej, Chairman, Godrej Group[/caption]In order to boost sales momentum, the company has planned over 60 launches across categories this year, with about half in the refrigerator segment, almost an equal number in the air conditioning and washing machine segments. “In the first nine months of this fiscal, Godrej Appliances has grown over 43 per cent against the average industry growth of around 30 per cent. We are expected to end near Rs 2,800 crore this fiscal. In FY2015-16, we are targeting again up to 30 percent growth and will reach over Rs 3,600 crore,” Godrej Appliances Business Head and Executive Vice President Kamal Nandi told PTI. In FY2013-14, Godrej Appliances had a turnover of Rs 2,000 crore business, he added. “AC would be our biggest growth driver, followed by refrigerators. In the washing machine segment, we have also done better than the industry,” Nandi said. He further added the company’s AC segment has grown over 100 percent in FY2014-15 so far. “Our growth from the AC segment has mainly come from the mass premium segment,” he said. In order to enhance its position in the segment, the company today launched Godrej Eon Diet range of five star air conditioners. “We are bringing high-end technologies and top line models in every category and thereby, fulfilling our intent of moving from mass to mass premium,” Nandi said, adding “our focus on development and innovation is more on the premium segment”. The company is also enhancing its sales network and would take to 30,000 outlets next fiscal by adding 4,000 new ones. It presently has a network of 26,000 sales outlets. “We would also increase the number of our exclusive brand outlets to 50 by adding 35 more this year,” he said. When asked if the company would make fresh investments to enhance production capacity, Nandi said: “We have invested in our Pune plant two years back and we could not utilise its full capacity due to bad market conditions. We will utilise the existing capacity first.” PTI