How much is Indias share in the overall global revenues of Hitachi and which verticals are more revenue driven
Indias contribution to the global revenues is 5% but India is considered as a strategic market globally and we are very bullish about our growth here. The verticals which are more revenue driven are split air-conditioners and refrigerators.
Are you planning to hike the prices of your products to minimise the impact of increasing raw material costs
Yes, we are hiking prices of our entire range of products by 4%. The prices of copper and steel have gone up which is why the company cannot absorb it and will have to pass it on to the customers.
Is Hitachi planning to foray in some new product category
We are planning to re-launch washing machines in another 1-2 years and are in talks with the Hitachi team in Thailand. We had stopped selling washing machines in India as their capacity was 7 kg plus which was not as per the Indian requirement which is between 5-5.5 kg. The company is planning to roll back the washing machine segment since Indian requirements are changing.
What is your market share in the air-condition space in India and what is the future target
The AC market size is Rs 5,500 crore and our present market share is 12%. We expect it to grow to 15% in the next fiscal year 2011-12.
What is your distribution strategy at present How many outlets do you have in India and what are the new expansion plans
Hitachi is planning to double its outlets from 1,500 to 3,000.
At present, Hitachi is present mainly in Tier 1 and some parts of Tier 2 cities. The company is going to expand to 317 towns this year from the present 236 and is planning to employ 1,000 people.