Whirlpool of India Ltd. expects new launches and government's focus on electrification and infrastructure to boost demand for the consumer appliances maker in 2019-20.
“We will target higher double-digit growth across all our segments, outpacing the industry,” Whirlpool's managing director Sunil D'Souza told BloombergQuint in an interview. The company has seen a “substantial recovery” in the ongoing quarter after a slowdown since the festival season last year, D'Souza said.
In response to a question on inventory build-up at dealerships, D'Souza said: “We are now quite comfortable with our inventory levels as we met targets set for March. Given the demand scenario this month, we can afford to build up inventories.”
India's consumption engine sputtered as agrarian distress hurt rural incomes. The decline in private final consumption expenditure was reflected in a slowdown in sales of automakers since Diwali last year. A credit crisis among shadow banks only aggravated the situation.
Watch the full interview here:
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