Godrej Home equipment on Monday mentioned it can make investments Rs 700 crore to extend its annual equipment manufacturing capability by 19 lakh models by 2022, taking it as much as 65 lakh models every year.
The home equipment maker additionally plans to introduce newer applied sciences and perform backward integration.
“Godrej Home equipment is all set to take a position one other Rs 700 crore by 2022. This newest announcement takes the tally of Godrej Home equipment’ funding in capability and know-how enlargement to Rs 1,100 Crore over a interval of six years,” the Godrej & Boyce Mfg Co unit mentioned.
The recent funding is aimed toward elevating the corporate’s annual equipment manufacturing capability by 19 lakh models by 2022, growing it as much as 65 lakh models every year, it added.
With this funding, Godrej Home equipment plans to double the present capability for laundry machines – each absolutely automated high load and semi-automatic – at its Shirwal and Mohali crops.
“The model additionally plans to introduce a brand new product line for absolutely automated entrance load washing machines with annual capability of 4 lakh models,” it added.
Within the fridge class, Godrej Home equipment intends to enhance the manufacturing capability by 33 per cent in each premium vary and mass vary.
“The funding can also be directed in direction of manufacturing of power-efficient chest freezers and 30 lakh models of compressors utilising newer know-how within the product and processes. A part of the outlay can be for backward integration of air conditioners on the Shirwal manufacturing facility,” it added.
Godrej Home equipment has additionally determined to up the ante to amplify the on-going premiumisation focus.
The corporate’s Enterprise Head and Government Vice President Kamal Nandi mentioned, “This funding broadens Godrej Home equipment’ functionality and displays its dedication to offering prospects with distinctive merchandise, whereas testifying our alignment in direction of Make in India’.
“By means of this enlargement, we goal to take model Godrej to even better heights utilising our energy of producing experience. The proposed enlargement, as soon as full, will permit us to fulfill the growing demand for premium merchandise from Indian prospects higher.
Godrej Home equipment, a enterprise unit of Godrej & Boyce Mfg Co Ltd, is current within the phase similar to air conditioners, washing machines, fridges, microwave ovens and air purifiers.
It has a community of 23,000 vendor and retailer retailers, and is current throughout India by over 100 unique model retailers.