Danfoss sets ambitious sales target of Rs 5,000 cr by 2025, aims for top 5 global ranking
Anju K, Director of Industry Affairs Communications and Sustainability at Danfoss, has said that the company’s ambitious goal is doubling its sales by 2025, aiming to reach at least Rs 5,000 crores by that year. Anju disclosed this during an interaction with the media on the sidelines of the Energy Efficiency Summit 2023, organized by the Confederation of Indian Industry (CII) at HICC, Hyderabad, on Friday. She emphasized that Danfoss is not only the principal sponsor but also the award sponsor of the summit. Highlighting the significance of Danfoss’s association with the event, Anju stated, “At Danfoss, energy efficiency and sustainability are core principles, and we hail from a nation deeply committed to carbon neutrality. Denmark, where Danfoss originates, aims to achieve carbon neutrality by 2030 and is already making remarkable progress. This is why India has a green strategic partnership with Denmark.” Danfoss, with its European technologies, combined with India’s scale, is poised to accelerate India’s journey toward carbon neutrality. Anju emphasized that Danfoss is actively working to support India’s decarbonization efforts through various methods. Reports suggest that energy efficiency alone can contribute more than 40 percent to India’s carbon neutrality goals.
She further explained that events like the Energy Efficiency Summit serve to identify and promote best practices and companies dedicated to energy efficiency, providing a platform for collaboration and innovation. Anju noted that 2023 is a significant year for Danfoss as it marks 90 years of the company’s global presence and 25 years of its operations in India. Over the past two and a half decades, Danfoss has been instrumental in engineering a sustainable future in areas such as food supply, climate and energy, infrastructure, digitalization, and electrification. India represents a crucial growth market for Danfoss. Anju shared that Danfoss has experienced impressive growth in India, with a 13 percent increase in the first half of 2023, aligning with their expectations. Currently, Danfoss ranks 6th among global regions, and the company aims to secure a position within the top 5 in the coming years. Notably, Danfoss is among the few companies that heavily invest in innovation and decarbonization. The company’s commitment to research and development is evident as it consistently allocates 4 to 7 percent of its average net profits to R&D and innovation, totaling around 240 million euros.
This investment has led to the development of several new solutions. Danfoss’s vision is to become the preferred technology and decarbonization partner for India by focusing on energy efficiency, machine productivity, emission reduction, and electrification. Given the current geopolitical landscape, India presents significant development opportunities, leading Danfoss to expand its manufacturing footprint and localization efforts in the country. With over 3,500 employees in India, Danfoss has seen steady growth primarily due to mergers and acquisitions. The company currently operates manufacturing facilities in Chennai, Baroda, Pune, and Bangalore, catering to various aspects of their business. Anju K emphasized that Telangana holds immense potential for Danfoss, particularly in the context of its rapid infrastructure development.
Danfoss is actively involved in decarbonizing commercial buildings, working with office buildings, airports, pharma, and medical companies to provide precision cooling and decarbonization solutions. Data centers, a burgeoning sector in Telangana, offer another opportunity for carbon emissions reduction through Danfoss’s solutions. The company is also engaged in supporting the farm-to-fork journey for fishermen in Bhimavaram and chili farmers across Andhra Pradesh, promoting food quality, safety, and technology adoption. Lastly, with Telangana’s focus on electrification and water and wastewater treatment, Danfoss sees significant business potential in these areas and is committed to supporting the state’s sustainable growth. Anju affirmed that Danfoss views Telangana as a high-potential market and is actively expanding its sales presence in the region.