IFB commences washing machines manufacturing in Goa

IFB Industries has operationalised a facility in Goa to manufacture top loader washing machines in order to cut down on import. Mass production of top loader washing machines started from Feb 12, 2015 in its Goa factory.
 
“The trial/ batch production has already started from January 28, 2015 and imports have been stopped. By April 2015 different capacities will be introduced across India ranging from 6.5 kg to 9.5 kg machines which we hope will lead to significant increase in sales,” said IFB Industries in a BSE filing.
 
In addition to Goa, IFB Industries has engineering divisions are located at Kolkata and Bangalore. The Bangalore unit, apart from fine blanked components, manufactures motors for white goods as well as automotive applications.
 
IFB Industries, which started the home appliances division in India in 1991, has a service network of 250 franchises. According to a PTI report, the Kolkata-based firm had reported Rs 15.79 crore standalone net profit during the October-December quarter on a total income of Rs 330 crore.