Whirlpool expects Rs 500 crore from festive season

Consumer durables manufacturer Whirlpool of India is looking at increasing its advertising and marketing spend by 10-15 per cent ths financial year, from Rs 45 crore last year, thanks to the improving consumer confidence that has boosted the company’s sales by 30 per cent in the June quarter.

Shantanu Dasgupta, VP - corporate affairs and strategy of Whirlpool, said, “We are now a debt-free company and with the festive season round the corner, we are looking at improving our sales quarter on quarter. While last year was uncertain due to the global recession, markets are already improving now.”

The company is looking at earning Rs 500 crore this year during the festive September to November months, a 25-30 per cent increase over last year festive period. During the June quarter, the company’s sales grew by 13 per cent to touch Rs 623 crore, up from Rs 551 crore in the corresponding previous.

The company’s receivables are down to 10 days and down to Rs 47 crore from Rs 52 crore earlier. The company’s inventory levels are down to 55 days from 91 and down to Rs 217 crore from Rs 303 crore.

“Eastern India is growing by 40-45 per cent compared to the national average of 30 per cent growth. This is because of the recent infrastructure improvements that we undertook in the quality of service we provide to trade partners as well as our customers,” added Dadgupta.