Daikin Air-conditioning India Pvt. Ltd., a 100 per cent subsidiary of Daikin Industries of Japan, is entering the residential air-conditioning market with the launch of new products in the 0.75 to 1.8 tonne split air-conditioners segment.
Toshiki Hayashi, Managing Director, Daikin Air-conditioning India, told The Hindu that the company was aiming a market share of 15 per cent by 2013 against 6 per cent now and also to treble its sales turnover from Rs. 500 crore in 2009 to Rs. 1,500 crore by 2013. He said India was an important market as there was huge potential and growing demand for the company's products. Daikin had reported a turnover of $12 billion in 2008 and had 95 subsidiaries including India, he said.
Kanwal Jeet Jawa, Deputy Managing Director and Chief Operating Officer, said the company had invested about Rs. 346 crore, including assets, in its Neemrana plant in Rajasthan. The plant, which commenced operations last month, had a capacity to turn out 20,000 units of VRV (variable refrigerant volume) units and 1,800 chillers annually. There was scope for further expansion for meeting future need, he observed.
As part of the company's ambitious growth plans, it would penetrate the Tier-II and Tier-III cities with the launch of new products.
He said the company's products would have features such as low noise level, low power consumption, cooling efficiency and high reliability. The company would strengthen its network of channel partners in India from 290 to 500 by December this year.
Daikin India would be completing 10 momentous years of its operations since it set foot in the country.
It had witnessed a CAGR (compounded annual growth rate) of 40 per cent in the last three years and was poised to grow further in the coming years.
Keywords: Daikin Industries