Godrej eyeing 25 percent refrigerator market shareMay 26th, 2011 - 5:20 pm ICT by IANS
Kolkata, May 26 (IANS) Godrej & Boyce Mfg Co Ltd, one of the largest players of home appliances, is aiming to grow at 25 percent rate in volume terms in refrigerator segment in India this fiscal, a top company executive said Thursday.
“We grew by 23 to 24 percent in volume terms in refrigerator segment last fiscal. This year we are aiming at a growth rate of 25 percent,” said Jayesh Parekh, assistant vice president (Refrigerators and Microwave Ovens) Godrej Appliances.
Noting that currently the company’s market share in refrigerator segment was 19 percent, he said this fiscal, they were targeting to catch 21 percent market share.
Currently the refrigerator segment in the country was about 85,000 lakh units, Parekh said.
The company has two manufacturing plants - at Shirwal in Maharashtra and another in Mohali in Punjab.
The two plants had one million capacity each, Parekh said and added that this year the total capacity would be expanded by one million unit putting together both the plants.
Mayank K. Gupta, general manager (east), appliance division, said the company had 20 percent market share in refrigerator segment in West Bengal.
“This year we are targeting to catch 23 percent market share in the state,” he added.
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