 "IFB")
IFB Industries has started mass production of top loader washing machines from its Goa factory, a development that will lead to a significant rise in its sales.
"Mass production of top loader washing machines will start from Feb 12, 2015 in our Goa factory. The trial/batch production has already started from January 28, 2015 and imports have been stopped," it said in a BSE filing.
The company expects to introduce products of various ranges in the Indian market in a couple of months from now.
"By April 2015, different capacities will be introduced across India ranging from 6.5 kg to 9.5 kg machines which we hope will lead to significant increase in sales," it said.
IFB Industries had started the home appliances division in India in 1991. The company has a service network of 250 franchises.
The Kolkata-based firm had reported Rs 15.79 crore standalone net profit during the October-December quarter on a total income of Rs 330 crore.
