Godrej Appliances targets Rs 2,700 cr biz in FY'15

Godrej Appliances is looking for nearly 30 per cent increase in sales to touch Rs 2,700 crore turnover in the ongoing fiscal on the back of new launches in the air conditioning and refrigerator category.
"In this financial year (2014-15) we are targeting a turnover of Rs 2,700 crore. Last year, we have done Rs 2,100 crore business," Godrej Appliances Executive Vice President, Sales & Marketing, Kamal Nandi told PTI.
Expressing confidence of achieving its target, he said: "We are very much on the course from the first month (April, FY'15)."
Due to bad market situation the company was unable to meet its expectations last fiscal, Nandi said, adding that for this year, it is expecting a good traction from the air conditioning and refrigeration segment, where it has an attractive line up this season.

"Our biggest contributor would be AC and refrigerators," Nandi said.
Sales of air conditioners have picked up in south, west and central regions but due to showers in the northern region in areas such as Punjab and Haryana, it has been slow, he said.

"Our ACs are doing extremely good this year and registered a growth of 65 per cent plus," Nandi added.
Godrej may also go for a price cut in July as the rupee is stabilising against the US dollar.
"The rupee has just dropped from 62 to 58.50. There is drop of one and a half rupee to a dollar. If the trend continues, I think yes, there would be a opportunities of giving more attractive prices in the market," he said.

However, he added: "As of now, I do not see any possibilities of price change".
It would also depend on factors such as the policies of the newly elected government and excise rebates.
"Let's see how the new government brings out the reforms and policies. What happens to the excise drop from 12 per cent to 10 per cent which is only up to June 30...How the government reacts...," Nandi added.