Daikin India turns unicorn, biz to double in 3 years

NEW DELHI: Air conditioner (AC) company Daikin Airconditioning India has achieved the target of becoming a billion dollar company in the financial year 2022-23. The company aims to become a $2 billion firm in the next three years, its chairman and managing director Kanwaljit Jawa said.

The company’s turnover in the financial year 2022-23 was Rs 8,860 crore.

Jawa said the company sees a lot of potential in India for its upcoming projects and expects a turnover of $2 billion, or Rs 16,350 crore, in the next three years.

Daikin India has become the second billion dollar company selling cooling products. Earlier, Tata group company Voltas had registered a revenue of Rs 9,667 crore in the last financial year. In this regard, Java said, “Yes, we have now become a billion dollar company.”

Wholly-owned by Daikin Industries of Japan, the company is a leading global manufacturer of commercial and residential ACs and has so far invested Rs 2,300 crore in India.