Danfoss India to Double Sales by 2025: CEO

Chennai, Aug 25 (PTI) Danfoss India, a leader in heating, ventilation and air-conditioning, is witnessing robust growth in the domestic market and is confident of doubling sales by 2025, a top official has said.

The subsidiary of the Denmark-headquartered company said the Indian market is the fastest-growing region for the Danfoss Group with strong double digit growth in H1 driven by increasing opportunities in energy efficiency and electrification.

Danfoss Group's sales amounted to Euro 5 billion and a half-year EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) of EURO 533 million corresponding to an EBITDA margin of 10.6 per cent, as against 12.4 per cent last year.

Driven by the rapid expansion of data centres and commercial buildings, Danfoss India is experiencing robust growth. The government's strong push towards de-carbonisation, coupled with initiatives like the Production-Linked Incentive (PLI) schemes, is further fuelling the growth momentum, Danfoss India said in a company statement on Sunday.

"India continues to be the fastest growing region for Danfoss group, and we are proud to be at the forefront of the country's sustainable transformation," Danfoss India President Ravichandran Purushothaman said.

"With the rapid expansion of data centres, commercial buildings and cold chain infrastructure, coupled with the government's strong support for de-carbonisation, we are confident in our plans to double sales by 2025. Our innovative products and solutions are designed to support India's carbon neutral ambitions and we are committed to being a trusted partner for our customers," he said.