Household appliances maker Haier aims to record 38 per cent growth in the coming year (calendar year 2026) and clock revenue of Rs 14,500 crore on the back of strong sales of air conditioners and TVs.
The company, which follows a January–December financial year, will close the ongoing year with revenue of Rs 11,000 crore, a growth of 25 per cent, helped by bumper sales of TVs after GST rate cuts.
The company, which announced the launch of its new Gravity AI Series air conditioners, has a new manufacturing capacity in Greater Noida, raising capacity from 1.5 million currently to 4 million by 2027.
“The AC penetration levels in the country are still at 11 per cent, which is abysmal and the lowest among large appliances. When we see the way the economy is growing and temperatures are soaring, there is a lot of headroom for growth. With the introduction of new consumer financing options and the GST rate cuts announced earlier this year, we expect demand to keep going up,” NS Satish, president, Haier India, told Business Standard.
The AC category recorded growth of 20 per cent this year for the company.
The company is also planning to invest Rs 3,500 crore in the Indian market over the next three to four years in a phased manner, helping create “12,000 indirect and direct jobs in the country,” Satish said.
“The idea is to become a household name. We enter a home with one category and slowly expand our presence in each household with our varied offerings — from ACs to TVs and washing machines to refrigerators,” he added.
Haier India has an 8 per cent market share in the Indian AC and washing machines market, and plans to take its AC share up to 17 per cent by 2030. In the refrigerator segment, it has a market share of 14 per cent, and 9 per cent in the LED TV segment. In commercial refrigeration, the company has a share of almost 26 per cent.
