Page 5 - Home Appliances

Microtek plans to invest Rs 500 crore to boost electric product business

Power appliance maker Microtek is planning to invest Rs 500 crore to boost its electric product business over the next one year, a senior company official said on Friday. The company will primarily make investments in research and development and ramping up the manufacturing of its products. "We have crossed Rs 250 crore revenue. We are targeting to cross Rs 400 crore revenue and invest Rs 500 crore in the next one year," Microtek International Deputy Managing Director Saurabh Gupta said. As per industry estimates, the domestic electrical equipment market is expected to grow at an annual rate of 12 per cent to reach around 5.4 lakh crore by 2025, he added. "So, there is an immense potential in the market, which Microtek as an Indian company is very keen to tap," Gupta said. The company at present is engaged in the manufacturing of power inverters, solar solutions, electric vehicle chargers, wires and cables etc. "We will be using this investment in R&D and manufacturing as we wan

Dhanteras glitter dims for consumer appliances firms, automakers

Inflation, second Covid-19 wave, semiconductor shortage major reasons behind tepid sales

Appliances, consumer electronics industry to touch Rs 2 trn worth: CEAMA

The industry needs to become more and more backwards integrated with its manufacturing, strengthen its component base and get price competitiveness

Deals or distress: Consumer goods makers bet on bumper festive sales

Robust growth expected despite shortage of components and the threat of a third wave of Covid-19 pandemic

Consumer durables to see sustained growth over few yrs: Whirlpool India

The consumer durables industry is expected to witness sustained growth over the next few years, according to Whirlpool of India.

Godrej forays into dishwashers; eyes 15% mkt share by end of 2021-22

Godrej & Boyce, the flagship company of the Godrej Group, on Tuesday announced its foray into the dishwashers market and is eyeing 15 per cent market share by the end of this financial year in this segment. The pandemic has upped stress level of consumers significantly. City-based consumers particularly... are juggling their office work with household chores while trying to limit their dependence on domestic help to avoid health risks. This has led to a surge in effort minimising appliances like dishwashers. We believe that this category will continue to see growth even post pandemic as more and more consumers discover the value this product can add to their lives," Godrej Appliances Business Head and Executive Vice President Kamal Nandi told reporters at a virtual press conference. He further stated that the dishwasher segment is at a very nascent stage and the total market size is expected to cross USD 90 million (Rs 667-700 crore) by 2025-26. "We are targeting 15 per cent ...

LG converting smartphone production lines to manufacture home appliances

LG Electronics is fast converting its overseas smartphone manufacturing lines into facilities to make home appliances following its decision to withdraw from the mobile business

Home appliance companies seek a place on the list of essential items

This follows similar demands by smartphone and laptop makers

Appliance firms staring at brief production halt amid lockdown

Panasonic set to shut its Jhajjar plant for a week starting Monday

April likely to be a washout for appliances as fresh Covid-19 curbs hit biz

Durables players admit that restrictions have hit festive sales

Home appliance, auto firms fear localised lockdowns will hit festive sales

Real estate companies remain optimistic on strong order book

Star MNC: Home appliances major Whirlpool makes a strong comeback

By expanding its product portfolio, adding new markets and widening its retail footprint, the home appliances major has emerged a clear winner

TV makers jump on PLI bandwagon as more AC companies evince interest

Apart from offering inducement to any incremental production over the next five years, the scheme has the potential to transform the manufacturing landscape in the country

Stove Kraft IPO subscribed 18 times despite secondary market sell-off

Institutional portion garners 8x, HNI subscribed 33 times, while retail quota saw 26x subscription

Kitchen appliances firm Stove Kraft's IPO subscribed 3x, closes tomorrow

The company is looking to raise Rs 95 crore through the IPO. The issue also comprises of secondary share sale worth Rs 318 crore

Stove Kraft mobilises over Rs 185 cr from anchor investors ahead of IPO

Stove Kraft is a manufacturer of kitchen appliances

LG sees record fourth quarter earnings on solid home appliance sales

LG Electronics on Friday forecast robust fourth-quarter earnings as sales from its mainstay home appliances apparently remained solid

Cool ride for Whirlpool's investors on healthy pick-up in demand

Healthy demand improves earnings visibility; shares scale to all-time high and post the highest daily gain since March

Durables makers end 2020 at record low, sales down 30% amid Covid-19

While the countrywide lockdown between late March and May wiped out sales for three months, falling demand after Diwali has been a crippling factor

Hitachi to sell overseas home appliance biz to Turkey's Arcelik: Report

The Japanese industrial conglomerate aims to improve profit via the deal with the Turkish company, says Nikkei.