Kolkata, April 15 (Inditop.com) Home appliances manufacturer Godrej & Boyce is planning to expand its portfolio by manufacturing cooking ranges and water purifiers, a company official said here Thursday.
“We have identified other areas where we can get into, like cooking products and water products,” George Menezes, chief operating officer of Godrej Appliances, told reporters at the launch of the company’s Eon range of LED Televisions.
He said the company is already into the water products segment in a small way and would be looking into cooking appliances like chimney in the future.
About the water purifier market, Kamal Nandi, vice president, sales and marketing, said: “The water purifier market is still at its nascent stage. But it has high growth potential. The total market size is around Rs.1,500 crore.”
He said the company is already into ultra-violet and non-power water purification segment in a smaller way. It plans to develop service network for the water purifier market.
Nandi said cooking products is a niche market and would take another five years to mature.
About the television segment, Menezes said he expects 40 percent growth in that sector in the current fiscal. In the last fiscal (2009-10) it clocked a compounded growth rate of 30 percent.
The turnover of Godrej Appliances in the last fiscal was to the tune of Rs.1,700 crore.
It is planning to launch the Eon LED televisions across the country.
“In 2010-11, we plan to garner a share of 5 percent of the total television market and targeting a share of 10 percent subsequently,” Menezes said.
The total television market is around Rs.15,000 crore.
