The Hindu Business Line : Godrej & Boyce expects higher turnover

The appliances division of Godrej & Boyce expects to record a turnover of Rs 1,400 crore in the fiscal ending March 31, 2008. In 2006-07 the division registered a turnover of Rs 1,100 crore, according to Mr George Menezes, Chief Operating Officer. Addressing a news conference on Saturday to announce the launch of a direct-cool refrigerator range with “5-star energy rating”, Mr Menezes said that during calendar year 2007 the refrigerator market in India grew 13.3 per cent compared to 2006. While the frost-free segment grew at 31.4 per cent, the larger direct-cool segment grew at 6.7 per cent. Godrej’s refrigerator sales, however, grew by 30 per cent in both the direct-cool and frost-free segments. Refrigerator sales account for 60 per cent of the company’s turnover in the appliances division, he said. He said that the ‘Eden Range’ of direct-cool refrigerators launched by the company consumed less energy, resulting in cost savings.

— Our Bureau

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