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New Delhi: Energy solutions company Danfoss aims to scale up its revenues in India to ₹5,000 crores by calendar year 2025, the company said on Thursday.
“The company sees India’s ambitious goal to be net zero by 2070 opening several green business opportunities in the country,” Danfoss said in a press release.
As a part of the 2025 growth strategy, Danfoss plans to expand its geographic footprint in India to 80+ cities, improve localization of all products to 80-90 % and explore new hotspots where energy efficiency plays a significant role.
It also plans to introduce new innovative products focused on energy, food, health care, infrastructure and mobility sectors.
“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,” said Kim Fausing, Danfoss Global President & CEO.
Danfoss India will be ending the CY 2022 with a revenue of more than Rs. 2,000 crores. “The company expects to post a y-o-y growth of 20% for 2023 against the projected 40% for 2022,” Danfoss added.
“As a global organization serving the world’s energy efficiency needs for over nine decades now, we at Danfoss are deeply committed to India’s decarbonization 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 capitalize on the rising green opportunities,” said Ravichandran Purushothaman, President – Danfoss India region.
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.
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.
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John Miller has been writing about science, gaming, and tech culture for over a decade. He’s a top-rated reviewer with extensive experience helping people find the best deals on tech and more.
