Panasonic earmarks Rs 30 crore for capex

Currently, Panasonic Appliances exports to 43 countries with 30% of revenue coming from these markets. Over the next 3 years, it will expand its exports to Japan and other regions. Continuing with its growth trajectory, PAPIN aims to see a 50% growth over next 3 years as compared to the penetration rates of lower than 5-10% Y-o-Y in kitchen appliances in India.  To cater to the growing demand, the company plans to increase the plant capacity in the next five years. 

Hidenori Aso, MD, Panasonic Appliances India Co Ltd, said, “We are celebrating our 100th year globally and our three-decade journey in India as the manufacturer for rice cookers. The segment has been witnessing an 8% growth resulting in sales of 0.7 million units across India. Today, we are exporting to 44 countries including Japan and will soon be exploring newer markets in Africa and countries like UK, France, Australia and New Zealand. The Indian Kitchen Appliances industry is growing at 12-15% and is seeking advanced and customisable products.” He adds, “The company will be investing close to Rs 30 cr for capex over the next three years as well.”

The company’s (PAPIN) current production capacity is 1 million rice cookers p.a. and its total capacity is 1.43 million kitchen appliances.