Godrej is one of India’s largest house makers. They build homes and then they even make it beautiful with their stunning appliances. Godrej Industries have businesses which go wider than our imaginations. Its products range from Aerospace to Agriculture, two opposite ends of a spectrum. The company is the oldest conglomerate of India after Tata. Godrej was founded in 1897 by Ardeshir Godrej and is still a family run business.
It is one of the few companies that is doing well despite having to compete with Chinese companies. The Chinese invasion has cost a lot to the companies in India. It has been a ride downhill for most of the companies but Godrej has deep pockets and has been taking a lot of hits in other departments but is thriving in the appliance market as of now.
The company is clocking growth at 20% and is having the time of its life. The Mumbai-based company has brought in around INR 4,300 Cr worth of revenue in the last financial year. The company has managed to grow financially as well as expand without incurring losses. The company is looking to hit the mark of INR 7500 Cr to INR 8000 Cr worth of revenue in the next three fiscal years.
Kamal Nandi, the executive vice-president, was talking to PTI and mentioned the constant and rising growth of Godrej Appliances. “We have been growing at 20 percent and this fiscal year, we will be at being around Rs 5,200 crore. We will double our exclusive outlets to 200 and the preferred outlets to 1,000 in the next three years,” he said.
The company is betting big on the Indian online market. It has expectations that the Indian online market will account for around 40% sales while the brick and mortar stores would account for about 20% sales.
Godrej Appliances is a huge company and the market share is divided across all the products. The AC market share is about 4 percent which is about 6 million units per year. The microwave sees about 5 percent share which is about 1 million units per annum while washing machines have about 10 percent and sells around 6.5 million units per year. The biggest of all is the refrigerators. 14 percent market is owned by Godrej and sells around 11 million units per year.
The newly launched food and beverage cooling device Qube is believed to be the new big thing. The company is aiming at selling around 50 thousand to 100 thousand units in the next year or so.