Godrej Appliances, the consumer durables division of Godrej Group is ramping up capacities at its facilities as part of its initiative to widen the product portfolio, a top company official said here today.
The company currently has manufacturing facilities with capacity to produce 27 lakh refrigerators, 10 lakh washing machines and three lakh air conditioners, Godrej Appliances, Business Head and Executive Vice-President, Kamal Nandi said.
"This year, we invested Rs 200 crore for our plant in Pune. That will start manufacturing by end of 2019. Another plant in Mohali, Punjab already started production in April this year", he told reporters.
Nandi and senior company officials were here to launch new refrigerator 'Godrej Edge Duo", equipped with Dual Flow technology and priced between Rs 23,000 and Rs 25,000.
The new refrigerator, available in 225 and 255 litres capacities, has a separate drawer for vegetables and would be positioned in the premium single door refrigerator segment.
To a query, Nandi said the company was eyeing to increase it's market share in the refrigerator single door segment by five per cent and was looking at a double digit market share in the air conditioner segment.
He said the company holds a six per cent market share in air-conditioner business.
Nandi said the Pune facility would add five lakh capacity and manufacture products in the premium segment across categories, including refrigerators, washing machines and air-conditioners.
Stating that the company would launch products with 'smart technology' next month, he said they are aiming at garnering Rs 4,000 crore revenue this financial year.
"Last year the revenue was at Rs 3,300 crore. This year (by March 2018) our target is Rs 4,000 crore.", he said.
Nandi said the company was also expanding the exclusive outlets from existing 75 to 200 by 2020 across the country.
Besides total number of outlets countrywide would also be increased from current 26,000 to 30,000 by March 2018, he said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)