Videocon eyes doubling AC segment revenue in next 1 yr

Home-grown consumer durables major Videocon is looking at doubling its revenue from the AC segment at Rs 1,600 crore in the next one year, a senior company executive said.
"At Videocon, currently, total consumer durable business is happening at Rs 9,000 crore. Thus, we are able to generate revenue to the tune of Rs 800 crore from the sales of AC units alone every year. However, we are looking at taking it to Rs 1,600 crore over the period of next one year," Videocon country head-AC, Sanjeev Bakshi, said here today.
He was speaking to reporters after launching wi-fi enabled AC range here today.

The total annual sales turnover for Videocon group stands currently at Rs 40,000 crore and was growing at the rate of 15 per cent annually, he said.
"But, we are looking at an annual growth of 20 per cent under the segment (consumer durable)," he said.
The company is likely to close the current ongoing quarter with revenue generation to the tune of Rs 350 crore from the sales of AC units alone.
"We would like to close the first quarter of the current fiscal year, which began for the industry since 1 January, by generating revenue to the tune of Rs 350 crore from sale of AC units registering a y-o-y growth at 21 per cent under the AC segment alone," Bakshi said.

In terms of number of units sold per annum in the country, the AC market currently stands at 40 lakh and Videocon was able to sell 2.5 lakh as of now, he said, adding, they are however, planning to more than double the number of AC units, up to 6,00,000 units, in next one year.