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Godrej Appliances today said that it has raised the prices of its consumer durables across all categories by up to five per cent to offset the rising input costs due to the rupee’s depreciation against the dollar.
“We have already taken a price increase from July 1, ranging from three to five per cent. It would be for all products,” Godrej Appliances Executive Vice President, Sales & Marketing, Kamal Nandi, told PTI.
Following the price increase, the company is selling air-conditioners, refrigerators, washing machines and microwave ovens at prices ranging from Rs 4,790 to Rs 44,800.
The extent of price increase varied depending on the value of imported components, he said.
Godrej Appliances has an annual turnover of about Rs 2,500 crore. The company spends five per cent of its revenue on advertising and promotions.
“If you look at the brand, then we have been growing in excess of 20 per cent against the market, which is growing by 12 per cent,” he said. “We will look to continue this growth rate.”
Godrej Appliances has two units at Mohali and Pune with a capacity to manufacture 2 million refrigerators and 0.5 million washing machines.
“We have augmented the capacities in these two plants last year and now the augmented capacity suits our needs for the next three years,” he said.
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