Godrej consumer appliances eyes 20 pc growth in FY16

Godrej consumer appliances division is targetting a growth of 20 per cent during the current financial year, an official of the company said.
"The consumer appliances division is expecting 20 per cent growth in value terms during the current financial year," business head of Godrej Appliances Kamal Nandi said.
Nandi said that last fiscal, the business division clocked a revenue of Rs 2,750 crore, which contributed to 33 per cent of Godrej & Boyce's total revenue.
"This fiscal, the revenue from the appliances division would be around Rs 3,250 crore," Nandi told reporters here today.
He said that the growth in the consumer appliances industry had been relatively flat during summer.

Asked whether the company would reduce the prices of products since the input prices were falling, Nandi said that there was no scope for any revision since the dollar was appreciating.

Nearly 20 per cent of the components used in refrigerators, ACs and other appliances were imported, Nandi said.
About selling through online channels, Nandi said that four per cent of the division's revenue was coming through partners like Flipkart and Amazon.
"This fiscal, revenue from online sales will be around five per cent," he said.
Nandi said that the division would make investments in adding capacties at its Mohali plant.

Nationally, Godrej was enjoying 15 per cent market share in refrigerators, six per cent in ACs and 10 per cent in washing machines, he said.
The company would also set up exclusive brand outlets across the country through the franchisee route, Nandi said.