White goods maker Whirlpool eyes investing Rs 590 cr capex for next 5 yrs

Whirlpool India Ltd, the white goods maker, is looking to invest Rs 590 crore over the next five years in capex projects such as enhancing capacity at its Faridabad and Puducherry factories, and modernization of double-door frost-free line at Pune factory.

Last year, the Rs 5502 crore company had shifted focus to expand manufacturing and supply chain functions.

Whirlpool India said, “This was coupled with the introduction of new roles in the areas of manufacturing engineering, production and maintenance in order to fuel the additional plant capacity.”

“In the last few months, there has been an increase in customs duties for import of consumer durables and few components. The government is expected to step up the impetus for scaling up local manufacturing and the industry is expecting to see many more global players set up a local footprint for both products as well as components in the coming months,” it added.

Whirlpool India’s main product lines are refrigerators accounting for 60% of revenue, washing machine 22% and air conditioner which contributes 6%. Its revenue from operations rose by 11.7% last fiscal. The revenue growth was driven by both internal and external factors.