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Mr George Menezes

Our Bureau

Hyderabad, Sept. 14 Godrej Appliances, part of the $2.5-billion diversified Godrej & Boyce group of companies, is exploring a foray into commercial cooling solutions in the burgeoning retail and mall market in the country.

This market is estimated at about Rs 1,500 to Rs 2,000 crore in addition to large opportunities for cold storages.

The Godrej Appliances division, which clocked revenues of Rs 1,000 crore last fiscal, registering a growth of over 42 per cent in the first quarter this year, is on course to logging revenues of Rs 1,400 crore this fiscal.

Addressing a press conference here on Friday, the Chief Operating Officer of Godrej Appliances, Mr George Menezes, said that the market for commercial cooling solutions in the country is now at an inflection point. This fits well into Godrej’s manufacturing capabilities, he said.

Mr Menezes said that 70 per cent of the company revenues now come from its refrigerator division while washing machines and air-conditioners account for about 10 per cent each. “We expect the air-conditioning and cooling solutions market to grow much faster than the refrigeration market,” he said.

Referring to the company’s expansion plans, Mr Menezes said that they invested about Rs 100 crore in two plants — one at Mohali to serve the North East and the other at Shirwal for West and South.

As part of this investment drive, the company’s manufacturing capacity was scaled up from 1 million refrigerators to 1.5 million.

More Stories on : Strategy | Air-conditioners & Refrigerators

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