Godrej Appliances, the consumer durables division of the Godrej Group, is planning to set up its third manufacturing plant in south India.
“The project has been worked out. We would shortlist the site by the end of this year,” said Ramesh Chembath, assistant vice-president (marketing), Godrej Appliances.
Launching its Edge SX refrigerators with built-in music player in Andhra Pradesh, he said: “The new plant would double the current production capacity of 2 million in the next 2-3 years once the production commences.”
Around 60 per cent of its total revenue comes from the refrigerator segment. Under this segment, it is targeting to increase its market share to 20 per cent by the end of the year from the current 18 per cent.
The overall industry size is of around 850,000 units per year and is growing at 8-12 per cent annually. Of this, frost free (double door refrigerators) accounts for 22 per cent and direct cool (single door) has a 78 per cent market share, he said.