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Durable companies sending out bullish signals
Posted On: 06-11-2008 08:05:22 AM

Even as observers recorded near empty markets in the lead up to the Diwali season, consumer durable companies like LG, Samsung, and Godrej claim that sales have grown up to 50% in the last two months over the previous year. The growth was primarily led by LCD televisions, which recorded bumper triple-digit growth around Dussehra and Diwali. The fact that Diwali was in Nov last year makes the figures for the period not exactly comparable, however they seem to go against what is being predicted as a recessionary market sentiment. LG claims growth was driven by LCD TVs, which witnessed a growth of up to 300 % over the previous year. This was followed by growth in other product categories such as refrigerators (68 %), washing machines (60 %) and microwave ovens (41 %). For the two-month period, LG’s sales revenue stood at Rs 2,535 crore, a 50 % jump over last year. Samsung witnessed 35 % growth in sales during September-October, as against the corresponding period last year. For Godrej, Diwali sales were led by washing machines. In all, the company’s sales surged 40 % during September-October this year. In all, the Rs 25,000-crore consumer durables industry witnessed a growth of 20-25 % in sales during the last two months. However, the increase in sales could well be on account of a pre-Diwali stock build up by distributors. Given the poor performance of the season, there are indications that there might be inventory pile-up and sales for the companies could see a major dip in the coming months.

 
 
 

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