05-11-2012, 02:02 PM
STUDY OF DEALER PERCTPION TOWARDS IFB HOME APPLIANCES LIMITED AND FINDING NEW DEALERSHIP OPPORTUNITIES
HOME APPLIANCES LIMITED.docx (Size: 369.1 KB / Downloads: 87)
Introduction
IFB Industries Ltd. (originally known as Indian Fine Blanks Ltd.) has over the last 35 years of presence in India witnessed various ups and downs in its business and is now on its move towards becoming a sustainable and stronger player in the Indian consumer durable space. The company’s business can be divided into 2 categories, namely Home Appliances and Fine Blanking (auto ancillaries & components business).
The Home Appliances division is basically into retail, selling various products like washing machine, microwave, dish washer, dryer and kitchen appliances. Within the Home Appliances segment, IFB manufactures washing machines and imports and markets the rest appliances under its brand. The Home Appliances sector accounts for almost 85% of revenues.
The Fine Blanking division is a manufacturing segment, manufacturing various high quality fine blanked components catering mainly to the automobile sector by producing high precision parts for engine, door latch, window lifters, gear box and also manufactures related machine tools like Straightners, Decoilers, Strip loaders and others. This segment contributes the remaining 15% of the revenues.
History of IFB
IFB Industries Limited is India’s leading home appliances and fine blanks producer. The company was known as Indian Fine Blanks Ltd. It started operations in 1974 in collaboration with Hienrich Schmid AG of Switzerland. The company got listed on the BSE in 2000. Today, the company manufactures fine Blank Components such as straightness, Decoilers and strip loaders as well as other engineering components, and home appliances such as washing machines, dishwashers, microwaves, hobs, Chimneys and other cooking appliances.
It had recently acquired a microwave oven plant at Bhopal, which is being upgraded for increased production of better microwave ovens and plans to start a new line in dish-washers.
The Bangalore and Kolkata works are ISO 9001 and QS 9000 certified by TUV SDI. The Bangalore unit has been certified for TS 16949 by TUV SDI.
The launch of fully automatic washing machines in 1990, jointly with Bosch, Germany, marked IFB's entry into the white goods sector.
Established player in home appliances segment
IFB Industries Limited has an established market position in the home appliance segment. The company manufactures home and kitchen appliances such as washing machines, washer dryer, laundry dryer, Dishwasher, Microwave oven, hobs, chimneys and other cooking appliances. In FY10, the home appliances segment contributed almost 85% of revenues the remaining 15% by fine blanking segment.
The company also manufactures engineering products like fine blanked components, cushion plate for seat recliners, K12 tongue for seat belt assembly, door latches, gear shift selector for transmission, gear shifter for transmission, rotor segment for aircrafts, plate valve for compressors, gears, etc for two-wheelers. Clients for its engineering products include Maruti Suzuki, Ford India, Fiat India, Toyota Kirloskar Motors, Lucas TVS, Brakes India, Rane TRW, Bosch Chasis, TVS Motor Co, Yamaha Motorcycles, Honda Motorcycles& Scooters India, Royal Enfield, Hero Honda, L&T, SKF, etc. In FY10, fine blanks and engineering operations contributed 18% to total revenue in FY10.
Company Details
IFB Industries Ltd. (originally known as Indian Fine Blanks Ltd.) has over the last 35 years of presence in India witnessed various ups and downs in its business and has now emerged as a stronger player in the Indian consumer durable space. The company’s business can be divided into 2 categories, namely Home Appliances and Fine Blanking. The Home Appliances sector accounts for almost 85% of revenues the remaining 15% by fine blanking segment. IFB has facilities in Kolkata, Goa and Bangalore.
Company Overview
IFB Industries Limited engages in the manufacture and sale of home appliances and fine blanking components primarily in India. Its home appliance products include washing machines, microwave ovens, domestic and commercial dish washers, dryers, kitchen appliances, and commercial laundry products. The company’s fine blanking components comprise cushion plates for seat recliners; tongue for seat belt assembly; door latches; gate assembly for gear transmission; gear shift selectors, gear shift interlocks, and gear shifters for transmission; rotor segments for aircrafts; plate valves for compressors; and face comp drives, gears, cam plate assemblies, and sprockets for two wheelers. IFB Industries offers its fine blanking components to the car/LCV, two wheeler, electrical, air conditioner/compressor, and textile industries. It also provides machine tools, such as straighteners, decoilers, and strip loaders. The company was formerly known as Indian Fine Blanks Limited. IFB Industries Limited was founded in 1974 and is based in Kolkata, India.
Home Appliances
Consumer durables involve any type of products purchased by consumers that are manufactured for long-term use. As opposed to many goods that are intended for consumption in the short term, consumer durables are intended to endure regular usage for several years or longer before replacement of the consumer product is required. Just about every household will contain at least a few items that may be properly considered to be of a consumer durable nature.
One of the most common of all consumer durables would be the furniture found in the home. This would include items such as sofas, chairs, tables, bed frames, and storage pieces such as chests of drawers and bookshelf units. While once thought to be limited to only items made of sturdy metal or wood, any type of furniture today that is intended for use over the period of at least a few years can rightly be classified as consumer durables.
Conclusion
It is beneficial for the company as the company could make out their strengths and weakness.
They could overcome their weakness and could satisfy more customers.
Also the customer’s level of satisfaction and awareness about the product is been known.
It is important to get to know some of the interesting facts about the company in which you did your internship. : -
IFB is less in display because companies like LG, Samsung, and Whirlpool takes the lead in top loaded machines as IFB is not that strong in top loaded washing machines.
IFB is a near monopoly player in dishwasher and dryer segment.