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Johnson Controls-Hitachi Air Condition. India Ltd.

BSE: 523398 Sector: Engineering
NSE: JCHAC ISIN Code: INE782A01015
BSE 00:00 | 21 Jan 1895.45 -11.50
(-0.60%)
OPEN

1900.05

HIGH

1906.70

LOW

1890.10

NSE 00:00 | 21 Jan 1893.90 -13.90
(-0.73%)
OPEN

1917.35

HIGH

1917.35

LOW

1888.00

OPEN 1900.05
PREVIOUS CLOSE 1906.95
VOLUME 358
52-Week high 2936.70
52-Week low 1856.60
P/E 93.56
Mkt Cap.(Rs cr) 5,154
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1900.05
CLOSE 1906.95
VOLUME 358
52-Week high 2936.70
52-Week low 1856.60
P/E 93.56
Mkt Cap.(Rs cr) 5,154
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Johnson Controls-Hitachi Air Condition. India Ltd. (JCHAC) - Company History

Johnson Controls-Hitachi Air Conditioning India Company (formerly known as Hitachi Home and Life Solutions (India) Limited) was incorporated in December 07 1984 as 'Acquest Air Conditioning Systems Private Limited'. It was converted into a deemed public limited company in Jun.'89. The Company is engaged in the business of manufacturing selling and trading of Hitachi' brand of Air conditioners refrigerators chillers and VRF (variable refrigerant flow) systems. Manufacturing facility for Air conditioners is set up at Kadi (North Gujarat). It provides a diversified range of customized and innovative air conditioning products. The Company possesses a wide distribution network with 5 regional offices 23 branch offices above 10000 sales points and more than 1500 service points. On 22 Jan.' 99 the Company issued 5165490 equity shares to Hitachi Japan and Hitachi India Pvt Ltd. on prefrential basis making Hitachi group co-promoter of the company along with Lalbhai group. Subsequently it has been renamed Amtrex Hitachi Appliances Ltd.It has a technical collaboration with Hitachi Japan. Amtrex is a leading manufacturer of air-conditioners. It has two plants one at Kadi Gujarat (a backward area) manufacturing air-conditioning and refrigeration appliances and other durables the other at Silvassa manufacturing air-conditioners. It currently manufactures room air-conditioners consisting of window split and multi-split air-conditioners under a technical collaboration with Hitachi Japan and markets them under the Amtrex brand. AHAL has entered into a joint venture with Cornelius US which will hold 51% of the equity in the venture. In May 2000 the company introduced 'Kalmin' a new 1.5-ton window AC with a unique feature of sleep mode which saves on power to a extent of 34%.The company has adopted the technology route and is constantly developing and introducing new models along with upgrading existing models in all categories of Air-conditioning products.During 2000-01 the company has introduced new 'LOGICOOL' range of Window and Split Air-conditioners.During the year 2003 the company changed its name to 'Hitachi Home & Life Solutions (India) Ltd.'The Company had vide Letter of Offer dated 27 February 2013 offered fully paid-up Equity Shares at a price of Rs. 130 per Equity Share (including face value of Rs. 10 per Equity Share and share premium of Rs. 120 per Equity Share) to the Equity Shareholders of the Company on a Rights Basis in the ratio of 1 Equity Share for every 5 Equity Shares held by the Equity Shareholders on the record date i.e. 6 March 2013. Company has made allotment of 4230876 Equity Shares on 8 April 2013 aggregating to Rs. 5500 Lacs. Proceeds of the Rights issue has been fully utilized for the objects stated in the Offer Document.During the year 2015 the Company shifted Jammu manufacturing facilities to its main plant at Karan Nagar Kadi Dist.: Mehsana Gujarat to centralise the production activity.During the year 2016 the Company developed a Heat Pump Inverter Air conditioner which can operate from -10 to 52C.The Company developed smart i-connect range of Split Air conditioners with Wi-Fi connectivity which can be operated from any Android or Apple (iOS) Smart Phone. Apart from innovation in Split ACs the Company's R&D facility also started a local production of 4 - way cassette indoor units and started development of the DX kit to operate Air Handling Units (AHUs) with Set Free Outdoor units in FY 2016.In FY 2016 the Company launched its new range of Air Purifiers which caters to increasing demand of Air purifiers in Delhi and other Metro cities.On 1st October 2015 Johnson Controls Inc. and Hitachi Appliances Japan completed a global joint venture and commenced the operations of 'Johnson Controls-Hitachi Air Conditioning'. Johnson Controls-Hitachi Air Conditioning India Limited is a subsidiary of Johnson Controls- Hitachi Air Conditioning. Consequent to the above change the name of the India unit has been changed from Hitachi Home & Life Solutions (India) Limited to Johnson Controls-Hitachi Air Conditioning India Limited on 19 August 2016. Through this joint venture the Company has combined the rich heritage and innovative technology of Hitachi with the industry leading expertise and global network of Johnson Controls.The Company launched the 6.1 ISEER Split Inverter Air Conditioner in the Indian market during FY 2016.In FY2016 the Company developed DFET (Dual Flow Expansion Technology) and launched 5 star rated machine in 2.0 TR capacity which is the only 5 star rated model in India in its class and introduced inverter type 'Spacemaker' models for telecom sector which save 30% more power as compared to the conventional 'Spacemaker' Model. Additionally two APF Labs upto 3 TR capacity for room Air conditioners were also installed. These labs have (National Accreditation Board for Testing and Calibration Laboratories) NABL accreditation too.During the year 2019 the Company has setup the global design center and spent capital expenditure of Rs 610 million.During the year 2019 the Company started providing design and development services to Group Company to design and/or support development and improvement of features in new and existing air conditioning products.

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