The Denmark-based company’s subsidiary said the Indian market is the fastest growing region for the Danfoss Group with strong double-digit growth in the first half driven by increased opportunities in Energy efficiency and electrification.
Danfoss Group sales amounted to €5 billion and annual EBITDA (earnings before interest, taxes, depreciation and amortization) was €533 million, corresponding to an EBITDA margin of 10.6 percent, compared with 12.4 percent in the previous year.
Driven by the rapid expansion of data centers and commercial buildings, Danfoss India is experiencing solid growth. governmentDanfoss India’s strong drive towards decarbonization, coupled with initiatives such as Production Linked Incentive (PLI) schemes, is further boosting the growth momentum, Danfoss India said in a company statement on Sunday.
“India continues to be the fastest growing region for the Danfoss Group and we are proud to be at the forefront of the country’s sustainable transformation,” said Danfoss India President Ravichandran Purushothaman.
“With the rapid expansion of data centres, commercial buildings and cold chain infrastructure, coupled with strong government support for decarbonisation, we are confident in our plans to double sales by 2025. Our innovative products and solutions are designed to support India’s carbon neutrality ambitions and we are committed to being a trusted partner to our customers,” he said.
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