Betting big on the favourable business environment, Preethi Kitchen Appliances is looking at a double digit growth across all its product categories in the current year.

According to Srinivasan Subramanian, CEO, Preethi Kitchen Appliances Pvt Ltd, normalisation of issues connected with GST, government initiatives for electrification of more rural areas in the country and above all, the emerging conducive business atmosphere will be the contributing factors to achieve the targeted growth.

The company’s new product portfolio in the gas stove category would also be a strong growth facilitator, he said.

To meet the emerging demand, the company — the market leader in food preparation segment — is also looking at enhancing capacity at its manufacturing facilities in Chennai and Baddi in Himachal Pradesh. Beyond the South, there are plans to stabilise the presence in Gujarat, Maharashtra, Odisha, etc, he told BusinessLine on the sidelines of Onam offers launch in the Kerala market on Friday.

Export market share

The ₹500-crore kitchen appliances brand is presently having an 8 per cent share in the export market catering to West Asia, Africa, the US, Singapore, Malaysia, etc. The replacement market is also contributing a major share in the company’s revenue, thanks to constant upgradation of consumers to newer products.

According to him, the mixer grinders are a major contributor to Preethi’s product basket where the total market size is estimated at ₹3,100 crore.

With a CAGR of 7-8 per cent, Preethi has a 20 per cent national share in the organised segment. He attributed the growth to constant innovations, quality and adequate service to make Preethi a preferable consumer brand.

The company is also focusing on gas stove category, with the launch of glass top gas stoves in association with Saint Gobain Glass.

The value of this market is estimated at ₹9,000 crore and the company has a 10 per cent share with the launch of different models.

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