Japan’s largest air-conditioner maker, Daikin Industries, has invested Rs 14 billion into its Indian subsidiary to enhance local manufacturing of finished products and components. According to regulatory filings with the Registrar of Companies (RoC), Daikin infused Rs 6 billion in June and Rs 8 billion in August, raising Daikin Airconditioning India’s paid-up share capital to Rs 15.82 billion. The company increased its authorised share capital from Rs 15 billion to Rs 30 billion in May, signaling potential for future capital investments.

Daikin plans to use the funds to expand its manufacturing capacity and increase component production, particularly compressors, with the goal of raising localisation from 75% to nearly 90%. K J Jawa, CMD, Daikin Airconditioning India, stated that the capital infusion supports ongoing business expansion, including the second phase of the Sri City plant in Andhra Pradesh, as part of its participation in India's production-linked incentive (PLI) scheme for air conditioners.

(ET)