The Hindu Business Line : Godrej Boyce aims at 30% market share this fiscal

On growth path: (from left) Mr George Menezes, COO, Godrej Appliances; Mr Phiroze D. Lam, Executive Director and President, Godrej and Boyce; and Mr Kamal Nandi, Vice-President, Sales and Marketing, Godrej Appliances, at the launch of Godrej EON Washing Machine in the Capital on Wednesday. - Kamal Narang

Our Bureau

New Delhi, Aug. 29 Godrej & Boyce Manufacturing Co, a Godrej Group company, said it was targeting a 30 per cent growth in revenue this fiscal on Rs 4,600 crore sales.

The company, which has fourteen divisions in different areas of consumer and industrial products, has been clocking high double digit growth in almost all of the businesses. “All our divisions are growing in the range of 30 per cent and we are expecting to achieve an overall turnover of around Rs 4,600 crore,” said Mr Phiroze D Lam, Executive Director and President, Godrej and Boyce.

The appliances division alone is aiming for a turnover of Rs 1,400 crore in the fiscal ending March 2008, he added. The company manufactures appliances, locks, furniture, security equipment, office automation, conferencing solutions, vending machines in the consumer products category. Industrial products include storage solutions, automated warehousing, material handling equipment, precision components and systems, machine tool service, electrical and electronic, tooling, construction material and services.

In its bid to meet the targets, Godrej on Wednesday launched a new range of Godrej EON washing machines with an aim to garner 12 per cent market share of the washing machine market in India from eight per cent last year.

“Washing machine market is growing at 20 per cent this year with expected size of 20.5 lakh units, Godrej is targeting a 12 per cent share of this market, up from 8 per cent of total market of 17 lakh units in last fiscal,” said Mr Kamal Nandi, Vice-President, Sales and Marketing, Godrej Appliances.

Mr Nandi also said that the company was adding new production lines at its plants in Mohali and Sherwood with an investment of around Rs 80 crore to increase the refrigerator manufacturing capacity from one million to 1.5 million units. In case of refrigerators, the company is aiming for 22 per cent market share this year as against 20 per cent in the previous fiscal.

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