Bucking Covid impact, Wonderchef expects revenue growth in FY21
Home-grown kitchen appliance company Wonderchef expects its revenue to grow in financial year 2020-21, despite the impact of the coronavirus pandemic, on the back of growth in home cooking and the likely demand for its new "Health-Gear" range of products.
By : migrator
Update: 2020-06-08 13:43 GMT
New Delhi
Last fiscal, the company had a revenue of Rs 270 crore.
"People are opting for quality cookware and appliances as they're cooling themselves at home. Around 7 per cent growth expected in FY21 due to this and our new 'Health-Gear' product range," Wonderchef's Managing Director, Ravi Saxena, said.
On the impact of the pandemic and the lockdown, he said that among almost all sectors in the economy, the impact on the company was limited.
"We had sufficient inventory of our key products and while the supply lines were blocked, we had the relevant products to sell. On the sales side, while the retail sector was totally shut, we managed to leverage our string digital presence and continued to get orders on our website," he said.
Saxena noted that the company ramped up its digital communication and focused on promoting healthy, homemade food with use of the company's appliances.
On demand revival, he was of the view that the cooking appliances segment should witness a faster recovery compare to other segments as cooking at home is the need of the hour.
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