In 1993-94, sales of frost-free refrigerators touched 1.13 lakh units and then increased to 2.27 lakh units in 1994-95, a 100 per cent growth.
A slight correction was observed in 1995-96 with sales at 4.13 lakh units which still worked out to a 82 per cent growth over 1994-95.
However, in the first five months of 1996-97, sales of frost-free refrigerators at 2.25 lakh units has grown by only 25
per cent.
The segment, which constitutes nearly 35 per cent of the total market, is dominated by BPL, Videocon and Godrej GE.
Vijay Krishna, managing director, Godrej-GE admitted there was a decline, but said it cannot be viewed in isolation.
The trend reflects the general slackening in the white goods industry, he added.
According to Krishna, "compared to the general growth in the refrigeration market which is negligible, the frost-free segment still appears to have performed well."
Krishna awaits the festive season in October when sales for frost-free refrigerators usually peak.
Regarding a general perception that Godrej GE has been hit the hardest, he stated that it was an unwise business decision to put stocks in the pipeline when sales were sluggish.
Stocks would only pile with dealers and distributors across the country without adequate retail off-take, he explained.
