Haier set to cross a billion revenue mark in 2024, aims ₹11,500 crore next year
The Hindu
Haier Appliances India plans to set up a third manufacturing facility in Southern India, targeting ₹11,500 crore revenue in 2025.
Haier Appliances India is set to cross the milestone of having a billion dollar revenue in 2024, helped by strong summers, festive season and ongoing trend of premiumisation, and expects ₹11,500 crore revenue in 2025, its President N.S. Satish said on Thursday.
Besides, the appliances and consumer electronics maker company, which has so far invested ₹2,500 crore in India, has plans to set up a third manufacturing facility in the Southern part of the country and is in the process of finalising a location for that, he said.
"2024 has been one of the best years we ever had, with a growth of 35%. We will be a one billion company this year. Next year our target is ₹11,500 crore," Mr. Satish told PTI.
Mr. Satish is confident of closing 2024 with a revenue of ₹8,900 crore.
Haier Appliances India follows the January-December cycle as its financial year.
"This year all the categories have done extremely well. With the focus on LED and washing machine, those two categories have done very well, and they pulled up," he said, adding that with the trend of premiumisation, the ASP (average selling price) has also gone up.
Additionally, he said this is the fastest growth of any company in the appliances segment.
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