Home appliances-maker,Godrej Appliances,has earmarked a Rs 100-crore investment in the current fiscal (FY 10) to expand the capacity of its five manufacturing plants in the country.
The Adi Godrej group company is also eyeing a turnover of Rs 1,700-crore in FY 10.
“We will be investing around Rs 100-crore in our plants at Punjab,Maharashtra and Uttaranchal. The funding will be through internal accruals,” Godrej & Boyce Manufacturing Co,Appliance Division,Chief Operating Officer,George Menezes,said in Mumbai.
“We closed FY 09 with a turnover of about Rs 1,400-crore. This year (FY 10),our target is Rs 1,700-crore,five per cent of which will be invested in research and development,” he said.
The company manufactures refrigerators,washing machines,air-conditioners and microwaves,among other home appliances.
Citing ORG-GSK February estimates,Menezes said that against the industry growth of 10 per cent,Godrej Appliances grew by a thumping 33 per cent.
“Growth could have been better,had the meltdown not happened. Our target was to clock a 40 per cent growth rate for 2008-09,” the company’s Vice President,Sales and Marketing,Appliance Division,Kamal Nandi,said.
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