Asian Journal of Management Cases

http://ajc.sagepub.com/

Cool King Limited

N. Ravichandran and P. K. Sinha
Asian Journal of Management Cases 2004 1: 147
DOI: 10.1177/097282010400100204

The online version of this article can be found at:

http://ajc.sagepub.com/content/1/2/147

Published by:

http://www.sagepublications.com

Additional services and information for Asian Journal of Management Cases can be found at:

Email Alerts: http://ajc.sagepub.com/cgi/alerts

Subscriptions: http://ajc.sagepub.com/subscriptions

Reprints: http://www.sagepub.com/journalsReprints.nav

Permissions: http://www.sagepub.com/journalsPermissions.nav

Downloaded from ajc.sagepub.com by chandrasekhar natarajan on September 28, 2010

ASIAN JOURNAL OF MANAGEMENT CASES, 1(2), 2004
SAGE PUBLICATIONS NEW DELHI/THOUSAND OAKS/LONDON

COOL KING LIMITED

N. Ravichandran
P.K. Sinha

This case details the decision facing Cool King Limited, one of the leading businesses
in India dealing with the installation of central air conditioning. So far it has had only
a token presence in the window air conditioning business, but is now looking to expand
into it as explosive growth in the industry is predicted in the near future. However,
this change of focus from central air conditioning to window air conditioning is likely
to affect the sales of central air conditioners, which is already on the decline, and may
prevent Cool King from venturing into other related businesses such as sales of
refrigerators.
Keywords: Indian air conditioner industry, competition, competitive strategy, business
portfolio

On 12 March 2002, Rahul Chandra, Chief Executive Officer (CEO) of Cool King Ltd
(CKL), was in his office in Bangalore, India, going over the company’s annual progress
report. He was concerned about Cool King’s diminishing central air conditioning sales.
He wondered whether the time was right to expand the company’s window air condition-
ing business to compensate for the decline in sales of the central air conditioners (ACs).

COMPANY BACKGROUND

CKL was established in 1943 and became a public limited company in 1969. The company
was initially engaged in reconditioning refrigerators and ACs. In 2002, Cool King was
India’s largest central air conditioning company with an annual turnover of Rs 51 million.
It had a network of offices in twenty-nine cities and three modern manufacturing facilities.
Cool King manufactured and marketed a wide range of air conditioning and refrigeration
systems and products. These included large central air conditioning plants, packaged air
conditioning systems, split and window ACs, commercial refrigeration equipment such
as water coolers, bottled water dispensers, ice cube machines, deep freezers, walk-in
cold rooms and commercial kitchens, and laundry equipment. Cool King’s other

Downloaded from ajc.sagepub.com by chandrasekhar natarajan on September 28, 2010

businesses included marketing and maintenance of hi-tech electronic and industrial
products such as testing machines, data communication products, medical and analytical
instruments and special control valves (see Appendix 1 for additional details).
CKL entered the business of window ACs in 1998. Initially, CKL room ACs were sold to
government departments. Window ACs were a part of the Cooling Products Division in
CKL. The Division’s products matched the range and designs of most of the competitors
in this segment. The prices started at Rs 18,000 for window and Rs 33,000 for split ACs.
The window air conditioning business was also perceived to have the potential to create
a public face as room air conditioners had high customer visibility and recall value.
CKL had little more than a token presence in the market. A portion of the existing
manufacturing facilities had been used to produce window ACs to generate additional
revenue. Window ACs were seen as a complementary product to the main project business.
The distribution channel used for selling window air conditioners was the same as the
one used for project businesses. No additional marketing efforts were made in terms of
pricing, enhanced volume or product positioning.
For CKL to really get into the window AC business, many existing handicaps had to be
removed. Marketing had to be completely revamped. Brand, aggressive pricing, accurate
product positioning and efficient handling of distributors were the priority areas.

INDUSTRY BACKGROUND

The Indian AC market in 2002 was estimated to be Rs 330 million, growing at 20–25 per
cent annually. Of these, central air conditioning, including packaged and ducted AC
systems, was approximately Rs 120 million and the window and split AC market was
approximately Rs 200 million.
The industry consisted of three kinds of companies: multinational companies (MNCs),
Indian companies and unit assemblers. The MNCs included Carrier Aircon, Hitachi (with
Amtrex) and Fedder Lloyd. The leading Indian companies were Voltas, Amtrex, Shriram,
Godrej, Blue Star and Videocon. While the MNCs sold on brand and premium image, the
Indian companies sold on established credibility. The assemblers (usually regional players)
competed on price with adequate quality. The assemblers accounted for more than 50 per
cent of the market share.
ACs were considered a luxury product and therefore subjected to high duty structure.
The rate of excise duty (as of 2002) was 32 per cent compared to 16 per cent for all other
consumer durables and white goods such as televisions, refrigerators and washing
machines.
The domestic demand for ACs was largely met by window ACs. The demand for room
ACs came mainly from the corporate sector, accounting for 80 per cent. The government,

148 N. RAVICHANDRAN AND P.K. SINHA

Downloaded from ajc.sagepub.com by chandrasekhar natarajan on September 28, 2010

which accounted for 70 per cent of the institutional purchases, had shown a declining
trend in recent times. The higher dependence on the corporate sector implied that the
industrial climate exerted a strong influence on the total industry demand. The rest of
the demand came from the household sector which, incidentally, was also the fastest
growing segment. Significantly, 20 per cent demand from this segment related to buyers
of second units. The demand was generally restricted to major cities and towns. Eight
cities, which included four metropolitan cities, accounted for nearly 65 per cent of the
total household demand. Erratic power supply was considered the single reason for slow
growth of rural demand.
The performance of the economy in general had a strong influence on the demand for
ACs. In a high-growth economy, rising profits would induce the infrastructure and com-
mercial sector to go in for AC systems. Heavy investments in the information technology
and telecom sectors since 1995 and a renewed government initiative on strengthening
agricultural infrastructure (cold storage) had contributed to higher sales growth of ACs.
Future growth for central ACs was largely dependent on developments in new user in-
dustries like software, telecom, hotels, food processing and multiplexes.
The penetration level in India for ACs was a minuscule 1–2 per cent. This figure com-
pared unfavourably with countries like the US (35 per cent) and Singapore (30 per cent).
In addition, the penetration level was low as compared to other consumer durables
within the country: refrigerators—11 per cent, televisions—35 per cent, radios—45 per cent
and cars—6 per cent.
With the rise in disposable income and the attendant change in consumption patterns,
ACs became an object of aspiration, especially for the emerging Indian middle class.
The per capita total expenditure on durable goods and the number of households with
monthly incomes above Rs 10,000 in urban areas and Rs 5,000 in rural areas was expected
to rise. This would mean that, first, there would be a perceptible shift towards branded
products and, second, the level of aspiration buying would increase. Industry growth
was also affected by the presence of cheaper substitutes like air coolers. One reason for
the use of air coolers was high maintenance and operational costs associated with owning
and using an AC.
Easy availability of consumer finance from banks and other financial institutions in-
duced purchases during inflationary times. Companies like Carrier Aircon, Voltas, Fedder
Lloyd and Godrej-GE had introduced zero interest instalment schemes.
Before 1998, ACs ( both window and split) were marketed as an engineering product
suitable mainly for the corporate and commercial segments. By 2002, this was slowly
changing and ACs were acquiring the status of consumer durables. In India, the room
AC market was dominated by window units. This was in contrast to the worldwide scene
where mini-splits ruled. The dealer’s role in selling and providing after sale service had
become significant. The need for rapid product development and launch had increased.

COOL KING LIMITED 149

Downloaded from ajc.sagepub.com by chandrasekhar natarajan on September 28, 2010

Brand-based positioning was fast becoming the norm of the industry. Also, the household
sector patronized the unorganized players due to lower prices and personalized after
sales services.
For the institutional (commercial and corporate) segments, buying ACs was primarily
a top management decision. Most companies considered more than one brand before
making a decision; they considered vendors’ past performance and reputation the prime
reasons. Quick response from the company and appropriate price were also important
purchase considerations. Residential customers bought the product as a consumer durable.
They were influenced by (global) brand, product design and appearance and price. It
was bought as a ‘desirable’ product; they considered two or three brands while deciding
and sought the advice of friends and colleagues. For most of them it was a major purchase.

Dealer Network
Sales and service dealers: They had powerful technical orientation, usually a strong
service team and fully equipped workshops. Usually they did not have a front office. AC
projects that required a great deal of engineering knowledge were handled very well by
them. They were comfortable handling projects worth Rs 500,000 or more. Their revenue
depended heavily on annual maintenance contracts (AMCs) that they entered into with
the customers whose AC plants they supported.
Air conditioner dealers: Many sales and service dealers graduated into AC dealers.
They had shop and display facilities and a strong service orientation. They were best
suited to service the residential segment customers.
White goods dealers: They owned a showroom and stocked and sold ACs with other
white goods. They had no service orientation or service facilities. They executed a sale
and typically had nothing more to do with the appliance.
Sales and service dealers serviced 5 per cent of the residential segment. AC dealers
serviced 20 per cent of the segment and the remaining 75 per cent was serviced by ap-
pliance dealers. These percentages were reversed for the corporate segment. Appliance
dealers rarely catered to corporate segments (5–10 per cent only).

ISSUES AND CONCERNS

The senior management team of CKL had deliberated on the issue of the company’s
response to the emerging opportunities in the window AC business. The central issue
was, should Cool King reorganize itself to face the challenges in the window AC business
or should it vacate this market segment and concentrate on the project business? Several
conflicting factors, some of them internal and others external, were complicating the

150 N. RAVICHANDRAN AND P.K. SINHA

Downloaded from ajc.sagepub.com by chandrasekhar natarajan on September 28, 2010

decision-making process. The top management had consolidated their thinking related
to this decision on several themes.

Opportunity Assessment
The window AC business in India was likely to experience explosive growth. There would
be three distinct market segments—residential, commercial and corporate. The residential
segment would require standardized products, the commercial and corporate segments
would require standard products with low customization. The market growth opportunity
assessments were based on (a) expected availability of quality power as a consequence
of government investment on infrastructure and implementation of economic reforms,
and (b) growth in the need for comfortable work and commercial environments as a
consequence of economic liberalization and enhanced industrialization. These reasons
were expected to boost the commercial demand for window ACs. The increase in dis-
posable income was also expected to translate into higher demand growth for window
ACs.
The cost of ACs in China was one-and-a-half times the average monthly salary. In
India as of 2002, the cost of a window AC was five times the average monthly salary.
Since growth in volume was a reality, prices were expected to fall dramatically. Revenue
growth would be driven by volume and gross margins would be thin.

The Role of Competition

Competition would consist of a mix of strong domestic players as well as multinationals.
Industry composition would change from technology user to technology generator. The
project execution skills of the foreign competitors would not be inferior to domestic
players but could be expensive.
In the competition from multinationals in the window AC business, the competition
from Korean companies had been aggressive. They had expanded the market and gained
a substantial market share by aggressive pricing, brand positioning and innovative sales
skills. Some of the major changes brought about by Korean competition were that instal-
lation products had been converted to plug-and-use products; manufacture to order had
been converted to manufacture to stock and sell; technology product was being sold on
price based competition (for a 1.5 tonne AC, prices were expected to fall from Rs 30,000 to
Rs 20,000); window ACs were being sold jointly with other white goods, undermining
the technological differentiation; branding was an important instrument in sales and
there was a strong influence on selling by distributors.
MNCs were likely to continue and duplicate some of these rules established by Korean
competition. Individual profitability of the units was replaced by volume-based growth

COOL KING LIMITED 151

Downloaded from ajc.sagepub.com by chandrasekhar natarajan on September 28, 2010

and revenue generation. Competition was willing to tolerate short-term losses in antici-
pation of long-term profitability.

Anxiety and Expectations

CKL now had to decide: should the company disturb the equilibrium it had developed in
the project business for the sake of future prospects in the window AC business? The
mindset and behaviour of CKL had always been that of a market leader based on experi-
ence in the project business. Could they sustain it while working with window ACs?
How comfortable would CKL be in a business characterized by aggressive competition?
The new business needed market dynamism and efficient responses to competition.
Could CKL respond to this effectively? Even if this attempt was successful, what were
the implications to the contribution margin, growth and profitability?

ALTERNATIVES

Should CKL decide to concentrate on project business and maintain only a token presence
in the window AC business, several financial and operational implications followed. The
growth and profitability in the Cooling Product Division could be severely affected by
aggressive competition; commercial and corporate segments of the window AC business,
which was being supported by the technology and solution platform, would be more
vulnerable to competition; CKL had to work with a limited product portfolio characterized
by technological complexity and higher project implementation skills; and size and profit-
ability would be slow, leading to stagnation. Therefore, long-term sustainability in the
business could be threatened.
CKL was characterized by a wide product range in the AC business, a strong presence
enabled by excellent project execution skills and a carefully built reputation in the relevant
market segments. Revenue and profitability were enhanced by project execution skills,
retrofit business and after sales service revenue. CKL was accustomed to treating distri-
butors as their business partners. However, while the products were sold at a premium
price, the efforts on brand building had been relatively low. Project execution time had
been appropriate rather than rapid. The common manufacturing facilities of the company
were used to make a small presence in the window AC market. Technological understand-
ing of the AC business and application engineering skills had been adequate.
Some senior management members within CKL were of the view that the company
would be able to change the rules of the game against Korean competition. They cited a
recent experience with the ICICI bank as an example. ICICI Bank wanted ACs in their
automated teller machines (ATMs) across the country. This bid was won by CKL against

152 N. RAVICHANDRAN AND P.K. SINHA

Downloaded from ajc.sagepub.com by chandrasekhar natarajan on September 28, 2010

very tough competition from MNCs. CKL was able to maintain its price but had to pay
a higher cost in terms of matching the after sales guarantee (from one to five years as
provided by MNCs). ICICI chose CKL because of its price, product quality and project
execution skills. According to several executives in CKL, this was an example where a
product solution had been sold on a project platform. The company’s executives were
confident that there was no match for their ability in this domain, especially from the
MNCs.
There was tremendous variability among the senior managers of CKL on how to operate
in the window AC market. Some members were of the view that return on investment
should be the criteria, others advocated market presence, market share, growth and
profitability as a possible set of indicators. There was also a view that the company
should look at this decision from a strategic perspective, which would mean emphasis
on a balanced portfolio of products and protecting the existing markets. Some argued
that the effort level that was necessary to compete effectively in the window AC market
should be the main consideration while making the choice.
Rahul Chandra realized that competing in the window AC market could be a necessity
and a business imperative. However, he was worried that this decision could trigger a
dilution of CKL’s business focus. The arguments advanced for promoting the move into
the window AC business could also be used to enlarge the scope from window ACs to ap-
pliances and subsequently to white goods. Where does one stop in terms of this unan-
ticipated inorganic growth, wondered Chandra.

Please address all correspondence to Dr N. Ravichandran and Dr P.K. Sinha, Indian Institute of
Management, WIN h 3, Vastrapur, Ahmedabad 380 015, India. E-mail address: nravi@iimahd.
ernet.in, pksinha@iimahd.ernet.in

COOL KING LIMITED 153

Downloaded from ajc.sagepub.com by chandrasekhar natarajan on September 28, 2010

 Exhibit 1
Market Trends (Units)
Company 1998 2000 2001 2002* 2003**
LG N.A. 60,000 70,000 200,000 300,000
Carrier 80,000 60,000 52,000 50,000 75,000
Samsung 28,000 50,000 50,000 75,000
Voltas 47,500 40,000 40,000 75,000 150,000
Amtrex/Hitachi 32,500 40,000 45,000 75,000 125,000
National N.A. 37,000 45,000 N.A. N.A.
Whirlpool N.A. N.A. N.A. 25,000 50,000
Videocon/Kenstar 31,000 18,000 6,000 N.A. N.A.
Blue Star N.A. 12,200 14,200 20,000 30,000
Godrej/GE 10,300 N.A. N.A. 5,000 25,000
Others 49,700 10,000 12,500 N.A. N.A.
Organized 252,998 307,200 336,701 500,000 830,000
Small scale 135,000 190,000 160,000 145,711 N.A.
Total 387,998 497,200 496,701 645,711.3 N.A.
Source: Published industry reports.
Notes: *Estimated **Projection.

Exhibit 2
Segment-wise Sales (in percentage)
Product Window Split
Segment/Year 2000–01 2001–02 2002–03 2000–01 2001–02 2002–03
Banks 7 6 12 9 11 18
Educational Inst. 6 2 4 4 6 9
Software 6 3 4 24 12 14
Government 21 15 20 4 4 4
Hospitals 2 2 5 3 3 3
Office 33 24 33 32 35 34
Residence 17 38 17 8 22 12
Showrooms 8 4 4
Others 8 10 5 8 3 2
Total 100 100 100 100 100 100
Source: Published industry reports.

154 N. RAVICHANDRAN AND P.K. SINHA

Downloaded from ajc.sagepub.com by chandrasekhar natarajan on September 28, 2010

 Exhibit 3
Competitors’ Profiles
Companies Voltas Amtrex Carrier Samsung LG
Year of 1954 1999 1985 1995 1997
formation
Ownership Tata Group Hitachi & Lalbhai Carrier Inc Samsung LG Electronics
Downloaded from ajc.sagepub.com by chandrasekhar natarajan on September 28, 2010

Group Electronics
Line of ACs and engineering ACs, refrigeration ACs ACs, consumer ACs, consumer
business and other consumer durables and durables and
durables electronic electronic
products products
Range of AC Package and ductable Window, split and Room AC, Windows, split Windows, split,
product(s) split unit, packaged multi-split and handling units multi-split, floor
chillers, screw coolers and chillers standing
chillers
Market Package ductable split Net sales for Unitary product N.A. Sales turnover
performance units grew by 14 per 1997–98 was segment with a of 500 by March
cent, packaged Rs 897.2 million on 30 per cent 2001 and a
chillers by 50 per which it earned a share in the growth of 20 per
cent, vapour absorp- profit after tax of window AC and cent over the
tion machines by Rs 31.2 million mini-splits corresponding
100 per cent, screw markets period
chillers by 28 per cent
Financial Equity capital 330.5, N.A. Equity capital N.A. Cumulative
figures (in profit 59.23, capital 234.2, profit 82.21, turnover of
Rs millions) employed 2,895.4 capital employed Rs 5,000 by
in January 2001 1,316.4 in January June 2001
2001
Source: Published industry reports and company website.
 Exhibit 4
Financial Highlights for Cool King Limited
Year 2000–01 1999–2000* 1999–2000 1998–99 1997–98 1996–97 1995–96 1994–95 1993–94 1992–93 1991–92
Operating results (in Rs million)
Total Income 5,098.2 4,438.1 4,809.4 4,764.9 4,527.7 4,408.5 4,089.1 318.82 2,475.4 2,227.7 2,157.8
Profit before Tax 255.7 171 252 181.2 180.4 232.1 354.8 221 92.9 45.2 41.9
Tax 20.3 19.6 19.6 18.5 25.3 84.3 103 57.2 32.5 4 5
Profit after Tax 235.4 151.4 232.4 162.7 155.1 147.8 251.8 163.8 60.4 41.2 37
Downloaded from ajc.sagepub.com by chandrasekhar natarajan on September 28, 2010

Dividend 111.8 101.6 101.6 94.8 94.8 94.8 81.2 35.1 24.9 16.4 12.9
Retained profit 112.2 37.5 118.5 57.5 50.8 43.5 170.6 128.7 31.9 24.8 24.1
Financial Position (in Rs million, excluding ratios)
Paid up Capital 203.2 203.2 271 271 271 271 271 100.5 99.5 72 72
Reserves 897.2 858.1 976.7 859.5 803.7 754.7 712.7 515.6 394.7 296.1 273.3
Shareholders’
funds 1,100.4 1,061.3 1,247.7 1,130.5 1,074.7 1,025.7 983.7 616.1 494.2 368.1 345.3
Borrowings 573.5 640.4 640.4 824.9 604.3 329.6 101.8 156.5 174.4 308.7 303.6
Total funds
employed 1,673.9 1,701.7 1,888.1 1,955.4 1,679 1,355.3 1,085.5 772.6 668.6 676.8 648.9
Net fixed
assets and
investments 941.1 1,001 1,052.5 999.3 970.5 736 460 378.1 266.9 257.8 259.2
Net Working
Capital 674.3 651.9 786.8 881.8 674.4 618.8 624.5 389.3 390 506 367.5
Debt equity ratio 5.2 6 5.1 7.3 5.6 3.2 1 2.6 3.6 8.7 9.4
Book value
per equity
share (Rs) 512.7 498.3 442.4 389.8 384 378.4 362.6 607.9 485.1 499.2 453.4
Other information
Number of share-
holders 260,940 273,990 273,990 239,630 233,180 205,780 180,040 156,970 146,920 125,340 107,700
Number of
employees 20,840 21,250 24,890 25,040 26,190 27,990 29,820 26,610 26,080 26,830 27,070
Downloaded from ajc.sagepub.com by chandrasekhar natarajan on September 28, 2010

Year 2000–01 1999–2000* 1999–2000 1998–99 1997–98 1996–97 1995–96 1994–95 1993–94 1992–93 1991–92
Performance indicators
Earnings per
share (Rs) 115.8 74.5 85.8 60 57.2 54.5 108.5 163 60.7 57.9 51.9
Dividend per
share (Rs)# 55 50 50 35 35 35 35 35 25 23 18
Return on share-
holders’ funds1 213.9 153.2 197.9 154.1 155.3 155.9 278 305.2 146.5 150.7 148.7
Return on capital
employed2 204.7 162.1 191.4 148.8 147.2 220.3 391.5 391.7 256.8 183.1 177.5
Source: Annual reports and published information.
Notes: # Proposed dividend
* Excluding software business
1
Excluding revaluation reserve in %
2
Excluding revaluation reserve in %
 Exhibit 5
Cool King in the Window Air Conditioning Business

158 N. RAVICHANDRAN AND P.K. SINHA

Downloaded from ajc.sagepub.com by chandrasekhar natarajan on September 28, 2010

 Appendix 1

COOL KING LIMITED: BUSINESS SEGMENTS AND DIVISIONS

CKL’s business focus is on corporate and commercial sectors. These include institutional and
commercial establishments, industry and government organizations. In accordance with the nature
of products and markets, business drivers and competitive positioning, CKL is organized as several
business units.

Central Air Conditioner Systems

This segment involves manufacturing, system design, installation, commissioning and support
of large central air conditioning plants, packaged ACs and ducted split ACs. CKL manufactures a
wide range of chillers, including centrifugal, screw, reciprocating and scroll. The packaged air
conditioning range includes floor and ceiling mounted packaged ACs and ducted split ACs. This
line of business contributed 63 per cent to CKL’s revenue in 2002.

Cooling Products
CKL offers a wide range of contemporary window and split ACs, apart from manufacturing and
marketing a wide range of commercial refrigeration products and services that cater to the indus-
trial and commercial sectors.

Commercial Refrigeration
This segment includes a wide range of products such as cold storages, water coolers, bottled
water dispensers, deep freezers, visi coolers and ice cubers. In the storage-type water cooler
market, CKL is the leader with a market share of 45 per cent.

Professional Electronics and Industrial Equipment

CKL is the exclusive distributor in India for many internationally renowned manufacturers of hi-
tech, professional electronic equipment and services, as well as industrial products and systems.
The Electronics Division comprises several products and services catering to diverse markets,
such as analytical instruments, medical electronics, industrial products and systems, data com-
munication products and systems, material testing machines and systems, test and measuring
instruments and servicing of professional electronics equipment. This line of business contributed
8 per cent to the company’s revenue in 2002.

COOL KING LIMITED 159

Downloaded from ajc.sagepub.com by chandrasekhar natarajan on September 28, 2010

Business Divisions
CKL is structured as six strategic business units, primarily to address each market segment
effectively.
The Special Projects Division (SPD) handles large comfort and industrial air conditioning projects
in the domestic and export markets, each through a self-contained project team.
The Air Conditioning Projects Division (ACPD) caters to the medium sized central air con-
ditioning business for industrial and comfort applications.
The Packaged Air Conditioner Division (PAD) offers custom-designed, packaged comfort air
conditioning solutions for commercial establishments through a well-trained dealer network.
These jobs generally involve standard, floor-mounted packaged AC units and ducted split units,
as well as small chillers. They are short duration projects.
The Central Air Conditioner Service Division (CASD) manages the after sales service and pro-
motes various service products including maintenance, energy audit, retrofitting and revamping.
The Refrigeration and Air Conditioning Products Division (RAPID) has four departments:
(a) Cooling Products Department which offers window and split ACs, water coolers, deep freezers,
visi coolers, bottled water dispensers and ice cubers. These are standard products and are marketed
through a wide spread dealer network, (b) Cold Storage Department which markets customized,
prefabricated cold storages to a wide range of industries such as horticulture, dairy, food, poultry,
hospitality and pharmaceuticals, (c) Commercial Kitchen and Laundry Equipment Department
which offers a wide range of commercial kitchen and laundry equipment to the hospitality industry,
(d ) Customer Service Department which handles after sales service for all the products of this
division.

Source: Company website.

160 N. RAVICHANDRAN AND P.K. SINHA

Downloaded from ajc.sagepub.com by chandrasekhar natarajan on September 28, 2010