Godrej Appliances expects to join billion-dollar club on 30% topline growth

Home-grown firm Godrej Appliances expects to become a billion-dollar company by the end of this fiscal, led by a 30 per cent growth in topline, a senior company executive said.

The company is "very optimistic" about the short-term and mid-term outlook of the domestic market, during which it will launch new products and has plans to launch around 50 new models across categories in FY25, its Business Head & Executive Vice President Kamal Nandi told PTI.

Godrej Appliances, a unit of Godrej & Boyce, recorded 60 per cent overall growth in the first quarter, led by an unprecedented demand for air-conditioners.

"We have registered over 60 per cent growth in Q1 and expect to close the quarter at 50-60 per cent growth. While demand is slower in the south and west, north and east are improving. Overall, we expect to close the quarter with over 50 per cent growth," Nandi said.

In categories such as air-conditioner, Godrej Appliances recorded over 100 per cent growth in sales, as some ...