CHENNAI: Consumer durables company
Godrej Appliances
would invest Rs 700 crore by 2022. The brand looks to increase the annual appliance production capacity to 65 lakh units.
With the latest
investment
, the tally of the firm’s funding in capacity and technology expansion is at Rs 1,100 crore over a period of 6 years.
Utilising the investment,
Godrej Appliances plans to double the current capacity for both fully automatic top load washing machines and semi-automatic washing machines and introduce a new product line for fully-automatic front load washing machines with an annual capacity of 4 lakh units.
For the refrigerator category, the brand further intends to augment the production capacity of both its premium range & mass range by 33%. Part of the outlay will be for backward integration of Air Conditioners at the Shirwal factory.
Commenting on the investment, Kamal Nandi, business head & EVP, Godrej Appliances said, “We have always been at the forefront of innovation and customer delight. Despite the sluggish industry backdrop, we have delivered good growth rate in the past and we will strive to continue on that trajectory. This investment broadens Godrej Appliances’ capability and reflects our commitment to providing customers with exceptional products, while attesting our alignment towards ‘Make in India’. Through this expansion, we aim to take brand Godrej to even greater heights utilizing our strength of manufacturing expertise. The proposed expansion once complete will allow us to meet the increasing demand for premium products from Indian customers better.”
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