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Daikin India aims to be a Rs 5,000-crore firm in FY20, looks for 20 pc growth

Press Trust of India  |  New Delhi 

Aircondition maker India is aiming to be a Rs 5,000-crore company this fiscal with around 20 per cent growth in sales, helped by rising demand of power-efficient inverter and expansion of sales network, said a top

The company is also expecting to have around 18 to 19 per cent market share of the residential AC market.

Besides, India, which is currently exporting to African and neighbouring South Asian markets, expects volume of shipping to its overseas markets to go up, helped by expansion in its production capacity.

"We are looking at a turnover of Rs 5,000 crore in 2019-20," India told

He further said, "Daikin is gearing up sell 10 lakh room AC units and we want to increase our market share to 18-19 per cent."

The company is expecting its turnover for the previous financial year concluded on March 31, 2019, to be around Rs 4,250 crore.

This season, Daikin India is expecting a growth of 18 to 20 per cent in sales, riding on the back of "power availability, increased distribution & sales-service network, tier-III and IV cities demand and brand building".

"We have been consistently growing more than the industry since 2009," Jawa added.

The Indian residential AC industry market is expected to be of around 4.5 million units with more than 20 competing in the space, in which and are the market leaders.

Jawa, also expects that sales of of AC would go up in the industry, as now customers are "more conscious" and are adopting products which "bear the stamp of superior technology & power efficiency".

"As pioneers of Inverters across the globe, we are confident that the inverterisation in the Indian market will lead the way for Daikin dominance in the product category," he said

Currently, Daikin India gets around 45 to 48 per cent contribution comes from non-metro market, Jawa expects this season to remain in the same range as the non-metro trends are positive over the past few years.

"Our channel or distribution of more than 6,400 sales outlets today is powering our growth taking the Daikin products to tier-I, II, III & IV cities," he added.

Daikin, which had two units at Neemrana, Rajasthan, and is in the process to set up a third unit in southern region expects exports from its Indian unit to go up, backed by enhancement of its production capacity.

"The exports to East Africa, Sri Lanka, and will further augment our business growth. And, with the third factory, we will have significant edge and cost competitiveness in the Indian market," he said.

is a 100 per of Japan, a global leader in the of commercial-use and residential systems.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, April 14 2019. 17:30 IST