The consumer durables manufacturer recently announced its plans to enter the Rs 350-crore RO-based (reverse osmosis) water purifiers market and aims to capture a market share of 25 per cent in the first year of operation.
The company, which is test marketing the product in Gujarat and Andhra Pradesh, will launch the products in all states by the year-end.
Meanwhile the company's financial performance has been robust and has improved over the last few quarters. In the June 2007 quarter, while sales rose 25 per cent year on year to Rs 565.2 crore, net profit more than doubled to Rs 15 crore.
The company is expected to gain with the festive season starting next month. The stock, which has been an underperformer in the last one year trades at 8 times its June 2007 quarter annualised earnings for FY08.
