PHAI Controlling Director Hidenori Aso told PTI: "The company has already been maintaining 30% growth year-on-year. Last year, we registered the turnover of $27 million, "
Aso, who was here to launch a unique rice cooker meant for the Tamil Nadu market, claimed PHAI includes a 75% market share in the electric cooker segment along with a 80% share in the premium mixer and grinder section.
The company, which manufactures these products at Red Hillsides, near Chennai, plans to double its capacity to two million cookers per annum within the next 24 months, Aso said.
A sizeable investment would be produced in the Chennai plant to increase production, as extra open space of over 25, 000 square metres had been also available, he said.
PHAI, which presently has four, 500 outlets/retail dealers in the country, including over 1, 000 within Tamil Nadu, plans to expand it to 6, 000 outlets within the next two years, he said.
Aso added that South India was the stronghold for that cooker market. However, steps were being taken to strengthen PHAI's market within the eastern region, where lifestyles and food habits were much like Tamil Nadu and other rice consuming regions, he stated.
On the new range of products to be launched to focus on the needs of northern and western region, Aso said PHAI would emerge with pop-up bread toasters and sandwich makers. On the anvil will also be a coffee-maker and food processor, which can cut vegetables and fruit and knead dough for rotis and chapatis, he additional.