 "Cool stocks to beat the sizzling heat this summer")
Homegrown white goods major Godrej Appliances on Tuesday said it expects at least a 20 per cent growth in sales of air conditioners and refrigerators during the summer season.
The city-based company is the fifth largest air conditioner brand with 0.7 million units sales and the fourth when it comes to refrigerators with 1.8 million sales in the country.
"We expect the summer to be scorching this year after an extended winter and this should help us clock at least 20 per cent uptick in volume for both ACs and refrigerators.
"Last year, our AC sales more than doubled," Kamal Nandi, executive vice president and business head at the Godrej Appliances told PTI here on Tuesday.
He was speaking on the sidelines of the launch of its new range of wood-finish and natured-inspired refrigerators and air conditioners.
Nandi said he expects at least 10 per cent of incremental volumes to come in from these new products which will command a 5 per cent premium over its existing products.
More From This Section
While its ACs (Air Conditioners) are priced Rs 35,000-45,000 depending on the tonnage, its refrigerators are priced in the Rs 25,000-35,000 range depending on the volume capacity.
The new range of products will be manufactured at its Shirwal plant near Pune.
Nandi ruled out any fresh capital expenditure in the near future saying they have more than enough installed capacity.
Currently, the company has an annual capacity for 1 million washing machines, 3.6 million refrigerators and 1 million ACs.
