The Hindu Business Line : Whirlpool spins new product line strategy

New Delhi, May 22 Whirlpool of India is adopting a multi-pronged strategy to keep itself ahead of competition. The company, which has posted a healthy spurt in its net profit, attributes it to the constant value engineering of its product line, brand building and fixed costs reductions.

For the financial year ended March 31, 2008, Whirlpool of India reported a net profit of Rs 70.52 crore against Rs 32.32 crore last year. The gross sales stood at Rs 2,021.5 crore against Rs 1,910.50 crore.

“In these times of economic slowdown, we have managed to achieve a neat profit margin. We never took our eyes off costs and redoubled our efforts to create a good product mix,” said Mr Shantanu Das Gupta, Vice-President, Strategy and Corporate Affairs, Asia South.

Export volumes down

Asked if exports have taken a beating following the economic slowdown, Mr Das Gupta said they had softened by about seven per cent. “The dip has been in volumes but not on margins,” he said, adding the current order book was strong.

On its strategy for the current year, Mr Das Gupta said that the company will continue its focus on its core business, refrigerators and washing machines. This apart, it is also looking to strengthen its line of air-conditioners and microwaves.

“We are looking to grow the emerging businesses at least to double digit levels. Other categories include built-in kitchens and water purifiers,” he added. Whirlpool of India had invested Rs 10 crore for developing the new product line. It introduced a range of water purifiers last year.

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