Daikin India eyes 20% growth by 2014

Daikin Air-conditioning India Ltd, the Indian arm of Japanese firm Daikin Industries, expects an annual growth of 20 per cent in the next three years in the Indian market.

“In the next three years, we are expecting a 20 per cent growth in sales. Now, we are focusing more on room air conditioners now,” said Kanwal J Jawa, managing director of the firm,. It had posted a turnover of Rs 700 crore in 2010-11and during the first 10 months of this financial year, the turnover has already crossed Rs 1,000 crore.

Out of the Rs 20,000 crore room air conditioning market in the country, the firm owns a marketshare of 10 per cent. “It will grow to 12 per cent this fiscal. Our new plant at Neemrana in Rajasthan will produce more than 500,000 units per annum once it becomes fully operational next financial year,” he added. While the phase I of the plant saw Rs 210 crore investment, the second phase will see Rs 150 crore.

 

Once the production starts in the Neemrana plant, the firm will have 70 per cent localised products.

Meanwhile, the Japanese major is planning to foray into air purifiers segment this year.

It holds 52 per cent marketshare in VRV air conditioners, 14 per cent marketshare in chillers.

He added that the firm has seen 7 to 12 per cent price rise in 2011 across sectors and a price rise is unlikely in 2012.