Home appliances manufacturer Whirlpool of India announced that it has achieved ‘no profit no loss’ point (break even point) in the financial year ended March 2008.
 
Shantanu Das Gupta, vice-president (marketing) said, “We have already reported a net profit of Rs 15 crore for April-December 2007 and registered a break-even during the financial year ended March 2008.”
 
The company had posted a net loss of Rs 5.32 crore on a total income of Rs 496.78 crore in FY07.

The company is anticipating a 20% increase in revenue from Rs 1,500 crore last year to Rs 1,800 for FY08.
 
Besides, the company has also announced that it will raise prices of its products by 2-3% in a phased manner during the April-June quarter because of rising raw material costs.
 
Arvind Uppal, managing director stated, “We have already increased our prices by 2-3 per cent in January-February and a similar hike will take place in the current quarter.”
 
The company has also stepped up its speed for the summer sales season by launching new products across new categories including water purifiers, built-in appliances and accessories.

The company is considering an increase in its market share of about 25% with these new launches in refrigerators, 20% in the washing machines, 10% in the microwave ovens, 10% in the air conditioners, and 10% in the water purifiers this year.
 
“Our aim is to make Whirlpool No 1 in home appliances in India by 2010,” said Mr. Gupta.
 
The company will invest around Rs 200 crore on product development by 2011.

“We intend to spend around Rs 60 crore each year for the next three years,” said Uppal.
 
Whirlpool of India, a wholly owned subsidiary of US major Whirlpool Corp, was formed in 1996 with the merger of Whirlpool Washing Machines and Kelvinator India. Whirlpool Corp holds 85 per cent stake in the company.