Danfoss, a world leader in food, infrastructure, climate and energy efficient technologies has reinforced its commitment towards ‘Decarbonization and Green Growth’ while marking the completion of 25 successful years of operations in India and 90 years globally.
H.E Freddy Svane, Ambassador of Denmark to India, Jorgen Clausen, Chairman Emeritus – Danfoss and other Founding family members- Annette Clausen, Mads Clausen, Peter Mads-Clausen along with Jens Bjerg Sørensen, Chairman, Kim Fausing, President & CEO, Jesper V Christensen, Executive VP & CFO, Ravichandran Purushothaman, President Danfoss India Region, customers, partners and key industrial stakeholders graced the occasion along with Indian Management Team and all India employees.
Danfoss celebrating its 90th year, reached EUR 10.3 billion global sales in 2022, up 36%, while organic growth was up 15% and EBITA margin reaching 11.9%.
In 2022, Danfoss’ India business recorded a strong double-digit growth and rose in the ranks amongst the global Danfoss regions contributing to growth. Danfoss India is growing at the highest rate amongst all the Danfoss regions globally and is seen as a high priority market with further strong growth potential in all its three business segments, with clear competitive advantage.
Danfoss India began operations as a sales company in the 60’s. Danfoss then began operating independently in the late 1990s to grow from just 10 employees to over 3500 today and is still growing. The R&D and Application Development Center teams, which employ over 1000 people, is instrumental in designing products that serve not only India but the globe as well. The company aims to steadily increase manpower with a thrust to develop more ‘Made in India’ products to cater to the growing needs of the local markets. Today, Danfoss’ products and solutions act as driving forces of a green growth-driven economy and address the technological gaps in urbanization, food security, electrification, digitalization and climate change.
Speaking on the occasion Kim Fausing, President and CEO, Danfoss A/S stated – “I am delighted to celebrate Danfoss’s 25th anniversary in India which also coincides our 90th anniversary worldwide. The many milestones we have achieved together with our partners and customers are a testimony of Danfoss’ contribution to India’s growth story. The decarbonization of our operations will continue to be a key part of our strategy, as we strive to support India’s ambitious net zero emission targets. Globally, Danfoss is better positioned for growth across all regions than we have ever been. Our sales are almost distributed evenly across the Americas, Europe and Asia with significant opportunities in all regions. With our record levels of investments in production capacity, regionalization and digital solutions, we are targeting to further improve the service to our customers globally, including India.”
Ravichandran Purushothaman, President – Danfoss India stated – “As we celebrate our 25th anniversary, I thank all my colleagues, channel partners, wholesalers, customers and industry stakeholders for reposing their trust in our extraordinary journey. We are poised for 2X growth by 2025 and we aspire to be a preferred sustainability partner to our customers supporting India’s climate action and green transition ambitions. The GoI (Government of India) has identified Green Growth as one of the key priorities for Amrit Kaal India@100 which makes Danfoss India even more relevant to the energy efficiency and decarbonization needs of the country across industry sectors.”
According to its future roadmap, Danfoss aims to be present in 80 cities of India in the next two years. Danfoss India aims to enhance its localization levels, which are currently on an average of 50 per cent across various product ranges. As India starts to put a lot more focus on PLI schemes, infrastructure, electrification, healthcare, metro projects, high-speed trains, food supply chain, data centres, etc. there will be new hotspots for strong growth emerging out of India’s decarbonization mission.
On the sidelines of the Silver Jubilee Celebrations, a ‘Decarbonization Center” was inaugurated at Chennai campus to showcase energy efficient and sustainable solutions for Commercial Buildings. The center will give the customers first-hand experience of the Danfoss technology to mitigate the carbon emissions that will lessen the cost of ownership resultant of power consumption. It will also impart training to stakeholders to adopt sustainable solutions that help hasten India’s net zero ambitions.