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Danfoss India aims to double its revenue to Rs 5,000 cr by 2025

Danfoss India aims to double its revenue to Rs 5,000 cr by 2025

Industry News
Nov 18,22

Decarbonization & digitalization are also high on the company's agenda. As a part of its 2025 growth strategy, Danfoss India plans to expand its geographic footprint in India, improve localisation of all products from an average of 50 per cent to 80-90 per cent, and explore new hotspots where energy efficiency plays a significant role.

Danfoss India aims to double its revenue to Rs 5,000 cr by 2025

Chennai

The Indian arm of Danish Climate & Energy Solutions major, Danfoss, aims to more than double its revenue to Rs 5,000 crore by CY 2025 through its three core business segments. The company sees India’s ambitious goal to be NetZero by 2070, opening several green business opportunities in the country. As a part of its 2025 growth strategy, Danfoss India plans to expand its geographic footprint in India from current 56 cities to more than 80 cities, improve localisation of all products from an average of 50 per cent to 80-90 per cent, and explore new hotspots where energy efficiency plays a significant role. The company also has plans of introducing new innovative products focused on energy, food, health care, infrastructure, and mobility sectors.

At a recent media round table in Chennai, Kim Fausing, Global President & CEO, Danfoss, said, "Danfoss India is in the group’s top 10 markets in terms of sales and has the potential to be amongst the top five soon. We have a high growth momentum at Danfoss now. We have made significant investments in the recent past to the tune of € 3.5 billion in acquiring companies to be a global technology leader providing solutions that improve energy efficiency and reduce emissions to meet our customers’ increasing sustainable requirements.”

Speaking on this occasion, Ravichandran Purushothaman, President, Danfoss India region, said, "As a global organisation serving the world's energy efficiency needs for over nine decades now, we, at Danfoss, are deeply committed to India's decarbonisation and sustainability journey. Danfoss India is seeing a huge digital transformation since the last two years and to support the same, we have added over 1,400 engineers and made investments of over $300 million in India to capitalise on the rising green opportunities.”

Danfoss India will be ending the CY 2022 with a revenue of more than Rs 2,000 crores. It expects to post a y-o-y growth of 20 per cent for 2023 against the projected 40 per cent for 2022. Danfoss Global has put sustainability at the center of its "Core & Clear" growth strategy and is ambitious to take leading positions within decarbonization, circularity, and diversity & inclusion.

"India is going through an unprecedented growth in every sector and we see huge opportunity in agriculture especially in tractors and data centers. Danfoss India is the second top market for us now in the Asia-Pacific region and we see increasing contributions from India in the coming years, thanks to its immense growth potential from decarbonization, digitalization & electrification.” said Astrid Mozes, President - Developing Regions and Chairperson, India board.

The company aims to be carbon neutral by 2030, especially in Scope 1 and Scope 2 emissions and currently, its HQ campus at Nordborg, Denmark will become carbon-neutral by end 2022, thus leading by example.

Headquartered at Oragadam (Chennai), Danfoss India - an industry leader focused on energy efficient solutions - serves a wide range of industries that rely on Danfoss products like drives, heating valves, controls & solutions for refrigeration, air conditioning, HVAC, heavy industries, district cooling, hydraulics, fluid conveyance and under floor heating applications.