CORPORATE
Haier India lines up Rs 1,000 crore for AC plant, targets $2-billion sales in 4 years
- IBJ Bureau
- Mar 10, 2025
Haier Appliances India looks to become a $2-billion sales company in the next three to four years on the back of high double-digit growth powered by expansion in product category and channels, according to a top official.
The home appliances-maker has earmarked an investment of over Rs 1,000 crore between 2024 and 2028 to set up new AC production and injection molding units. It has already ploughed in Rs 2,400 crore in its plants at Pune and Greater Noida so far.
With this new plant, Haier India’s capacity will increase to 40 lakh units per annum from the present 15 lakh units, besides increasing domestic value addition.
“Currently we have a capacity of 1.5 million (15 lakh). However, the way the AC market is growing here, by 2027 we will have a shortage in capacity. The new plant will be 2.5 million (25 lakh) units,” Haier Appliances India President N S Satish has said.
Haier is also looking to set up a plant in south India and will announce the planned investment soon.
Without sharing any details, he said that the investment amount would be “similar in size and capacity to what we have currently in the Noida Industrial Park”.
In 2024, Haier had reported 36 per cent growth in revenue at around Rs 8,900 crore, crossing the billion-dollar sales mark. For the current year, Mr Satish expects revenue to cross Rs 11,500 crore.
“And subsequent to that, every year, we are looking (at) around Rs 2,000-2,500 crore plus. So, we have big plans. And we see a big opportunity in India. When you see the economy GDP, which is doing very well, next is the penetration of the product, which is very low when we compare it to our global counterparts,” he said.
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