Page 3 - Consumer Durables

Satish N S to lead Haier India in 2022, as Eric Braganza set to retire

Consumer durable maker Haier Appliances India on Thursday said Satish N S will take over as President of the company, as incumbent Eric Braganza is going to retire on January 1, 2022. Braganza, who served Haier for almost 12 years, will continue to serve as a consultant with the brand, a company statement said. "As of January 1, 2022, Satish N S, Senior Vice President, Sales & Marketing, Haier Appliances India, will be taking over as President of the company. Eric Braganza will continue to mentor the team as a consultant," the company said. Besides, Braganza (65) would also continue his role as President of Consumer Electronics and Appliances Manufacturers Association (CEAMA), it added. "Under Eric Braganza's leadership, Haier India continued to record phenomenal year-on-year growth over the last few years to become one of the most prominent brands in the home appliances and consumer electronics industry," the company said. Braganza, a veteran in the consumer durables industry, ..

Microtek plans to invest Rs 500 crore to boost electric product business

Power appliance maker Microtek is planning to invest Rs 500 crore to boost its electric product business over the next one year, a senior company official said on Friday. The company will primarily make investments in research and development and ramping up the manufacturing of its products. "We have crossed Rs 250 crore revenue. We are targeting to cross Rs 400 crore revenue and invest Rs 500 crore in the next one year," Microtek International Deputy Managing Director Saurabh Gupta said. As per industry estimates, the domestic electrical equipment market is expected to grow at an annual rate of 12 per cent to reach around 5.4 lakh crore by 2025, he added. "So, there is an immense potential in the market, which Microtek as an Indian company is very keen to tap," Gupta said. The company at present is engaged in the manufacturing of power inverters, solar solutions, electric vehicle chargers, wires and cables etc. "We will be using this investment in R&D and manufacturing as we wan

Consumer durables makers revenue seen rising 20% this fiscal

Driven by electrical appliances makers, the Rs 2 lakh-crore consumer durables sector is set to report a robust 20 per cent revenue growth this fiscal after a flattish run last fiscal, says a report. Revenues of electrical appliances makers are expected to grow twice as fast as white goods makers, forming 65 per cent of the sectoral revenues this fiscal (which traditionally is only 35 per cent of the sectoral revenue), Crisil said in a report on Wednesday. Operating profitability will be a tad lower due to costlier inputs despite price hikes, though, the report said, adding credit profiles will be stable on healthy revenue accruals and low leverage. The Crisil report is based on the analysis of 15 companies which account for 45 per cent of the sectoral revenue. The sector, which clocked Rs 2 lakh crore revenue last fiscal, includes consumer electricals (excluding mobile phones) and white goods. White goods include washing machines, televisions, refrigerators and air conditioners whi

Whirlpool of India's profit sees twofold jump to Rs 413 cr in Sept quarter

However, its revenue from operations during July-September 2021 rose marginally to Rs 1,607.10 crore, compared with Rs 1,598.47 crore in the year-ago period

Consumer durable makers expect double-digit growth during festive season

The consumer durable industry is expecting double-digit growth in the festive season sales this year, despite inflationary pressure on inputs that led to price hike twice in the year

Consumer durables to see sustained growth over few yrs: Whirlpool India

The consumer durables industry is expected to witness sustained growth over the next few years, according to Whirlpool of India.

From households to FMCG companies, commodity inflation bites hard

The higher prices of widely used raw materials such as edible oils, pulses, television panels, and chipsets are burdening household budgets and threatening the margins of leading manufacturers

Home appliance companies seek a place on the list of essential items

This follows similar demands by smartphone and laptop makers

Consumer durables industry may contract 12-15% in FY21: Godrej Appliances

This was mainly due to the loss witnessed in June quarter and the worst hit was the air conditioner segment

April likely to be a washout for appliances as fresh Covid-19 curbs hit biz

Durables players admit that restrictions have hit festive sales

White goods, solar modules get Rs 10,738 crore worth of PLI push

While incentives worth Rs 6,238 crore would be provided over five years for manufacturing of white goods in India, the outlay for solar PV modules is Rs 4,500 crore

Durables firms fear slowdown in rural regions as Covid-19 cases rise

During unlock, most consumer goods makers, including durables majors, turned their attention to small towns and rural areas

Breezy summer ahead for consumer durables financiers, say analysts

Strong product demand is expected to drive loan book of lenders

Consumer durables companies' price gamble

The festive season is over and demand for most consumer durables has weakened. Companies are therefore testing a difficult market as they seek to protect their margins

Whirlpool of India third quarter profit falls 6.70% to Rs 71.36 crore

The firm was hit by a sharp increase in input costs

Retailers push the discount pedal on R-Day, offer rebates of up to 60%

Most categories looking to capitalise on out-of-home momentum

Budget 2021: Consumer durables makers seek respite from inflation, taxes

Retailers Association of India (RAI) has demanded certain measures that it believes will help improve the overall consumer goods industry.

Crompton Consumer: Strong demand, mkt share gains may help sustain growth

Jefferies estimates a 13% annual growth in topline during FY20-23, as well as margin expansion

Durables makers end 2020 at record low, sales down 30% amid Covid-19

While the countrywide lockdown between late March and May wiped out sales for three months, falling demand after Diwali has been a crippling factor

Robust demand may sustain growth momentum for consumer durable makers

Margins could come under pressure given sharp rise in raw material costs