Mumbai floods cost consumer durables majors Rs 100 cr

Consumer durables majors LG, Samsung, Videocon, Whirlpool, Godrej & Boyce have suffered losses of Rs 100 crore owing to the heavy downpour in Mumbai. The companies are expected to claim their losses from insurance firms.

"LG suffered a loss of Rs 15 crore owing to the rains, for which we will lodge an insurance claim. Our godowns in the city have been badly hit. And our dealers too have suffered losses around Rs 4 crore," said Sanjay Arora, vice-president, manufacturing & customer services, LG.

"Our godown at Bhiwandi has been severely affected. We are estimating the loss value," said Pawan Kalra, vice-president, home appliances division, Videocon.

Shyam Motwani, vice-president, marketing, Godrej & Boyce. said the company was evaluating losses.

"Although Samsung has godowns in Bhiwandi and Malad, the company has not suffered from any major damage. However, our dealers have been affected and the losses could be around Rs 2 crore," said Ruchika Batra, general manager, corporate communications, Samsung.

Customer complaints for all these companies have also doubled during the past one week. The companies are giving one-month free service offer. They are also offering a discount of 40 to 50 per cent on spare parts.

If durables such as washing machines or refrigerators are totally damaged, the replacements would be offered at a discount, said representatives of the companies.

"LG is committed to offer free service for a month on the affected machine be it TV or refrigerator or washing machine. Besides a discount of 40-50 per cent will be given on affected components," said LG's Arora.

"Helplines have been set up by Videocon. We are creating awareness about free services and discounts through advertisements," said Pawan Kalra, vice-president, home appliances division, Videocon.

No more durable

The companies will settle their claims with insurance firms

LG has pegged losses at Rs 15 crore

Videocon is assessing losses after its godown in Bhivandi was badly hit

Customer complaints have risen manifold

Companies are offering 1-month free service and discounts on spares