Whirlpool eyes Rs 3,700 crore turnover this fiscal

Home appliances firm Whirlpool of India is targeting up to 12 per cent growth in turnover at Rs 3,700 crore in the current fiscal on the back of new product launches including hi-end kitchen appliances and prudent cost management.

"This year is expected to be better than last year. We are targeting 10-12 per cent growth and turnover of Rs 3,700 crore. We will launch new products and be more prudent with cost to achieve growth," Whirlpool of India Vice President (Corporate Affairs & Strategy Asia South) Shantanu Das Gupta told PTI.

The company had reported a turnover of Rs 3,391 crore in the previous financial year.

Das Gupta added that the company expects the economy to be back on track in 18-24 months time.

"There is a positive market sentiment. But, we expect the economy to report good growth in 18-24 months," he said.

Whirlpool said it will launch 200 products this year in four key categories - refrigerators, washing machines, air conditioners and microwave oven.

Das Gupta said the company will focus on hi-end products in its key categories to achieve its growth target.

The company will invest Rs 150 crore this year on product innovations, marketing and advertising.

"We have put on capacity expansion on manufacturing side. But we will continue to invest on rolling out new products. We will invest Rs 150 crore this year," Das Gupta said.

"We would be more efficient in the way we do business in all segments. The intention is to safeguard margin by delivering a higher rate of productivity in all areas of the business," he added.

The company, which is focusing on its emerging product category - hi-end kitchen appliances, has partnered with Bangalore-based Something's Cooking Culinary Arts to organise Kitchen Wars, a corporate culinary contest.

"With the recent introduction of our built-in appliances range, there is no better place to showcase not just our products but also our consistent performance," Das Gupta said.

EDITORIAL OF THE DAY

  • Enhanced allocations are needed for research to ‘Make in India’ for India

    Even as India flaunts its ambitious ‘Make in India’ initiative from February 13, it spurs several questions.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Urs Schoettli

The importance of Indonesia

A few weeks ago, the wo­rld was shocked by a ...

Rajgopal Nidamboor

Try to awaken the archaeologist within

Our mind is far ahead of René Descartes’ famous maxim, ...

Bubbles Sabharwal

Social media versus real life

It’s amazing how social media brings out the best side ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture