The company, which till recently had a joint venture with the US major GE, has embarked upon a major cost-cutting exercise to minimise the expected losses, with up to Rs 25 crore expected to be saved through its several quality and supply chain management initiatives, a senior company official said here.

"This year could be a loss year for us, much like it would be for many other players in the white goods and home appliances industry. Turnover is likely to be down to Rs 650 crore to Rs 700 crore from Rs 713 crore in 1999-00," company managing director Vijay M Crishna said.