In a bid to increase market share in the room air conditioning (AC) segment, consumer durables-maker Lloyd Electric & Engineering is looking to scale up advertising and marketing spends. The company’s expenditure on brand building will go up by over 50 per cent to Rs 55 crore this fiscal, from the Rs 35 crore it spent in FY15.
At present, ACs account for the major pie (around Rs 650 crore) of its consumer durables biz which stood at Rs 1,200 crore last fiscal. AC business should be around Rs 1,000 crore this fiscal. Other consumer durables products in Lloyd’s kitty include TVs, refrigerators, room heaters, coolers, washing machines and small electrical appliances.
Lloyd Electric & Engineering is in the business of manufacturing heat exchanger coils for air-conditioning and refrigeration application, ‘U’ bend and return bend for heat exchanger coils, system tubing and header line for air conditioner equipment and sheet metal items for air conditioner systems made from CNC presses and are leaders in India.