Carrier Air Conditioning & Refrigeration Limited

Carrier Air Conditioning & Refrigeration Limited :


Carrier has a long legacy in India which dates back to 1936 when it installed the country’s first-ever air-conditioning system at Rambagh Palace in Jaipur. Currently, products manufactured in this facility include cassettes, ducted splits, package units, air- and water-cooled screw chillers, air- and water-cooled reciprocating chillers, fan coil units, air handling units, refrigeration products, and fire & security products. Carrier’s comprehensive Environment, Health & Safety (EH&S) program establishes a framework and provides tools for implementing our EH&S practices into our business & culture. Carrier India, Gurgaon facility holds a distinctive record of delivering over 17 million man-hours without a lost workday incident, clearly citing the measures of safety followed there. Carrier India has 14 sales and service offices, more than 800 sales and service channel partners throughout the country, ensuring efficient solutions and quality services at the customer’s doorstep.

Carrier Air Conditioning Unlisted Shares

About the Company

  • Carrier is a leading provider of heating, ventilating, air conditioning and refrigeration systems, building controls and automation, and fire and security systems.
  • The Company offers residential and light commercial air conditioning systems and accessories, building systems and services, truck refrigeration, and refrigeration products such as freezers, coolers, cold room, and related products.
  • It operates 51 factories and 39 research & design centers worldwide with more than 53,000 employees serving customers in more than 180 countries.
  • Carrier Airconditioning & Refrigeration Limited (Carrier) is engaged in the business of manufacturing heating, air-conditioning and refrigeration solutions.
  • Carrier was incorporated on 6th July 1992 in India (Although Carrier has a long legacy in India which dates back to 1936).
  • In the year 1988, the first manufacturing facility was commissioned in Gurgaon, Haryana. Carrier India has 17 sales and service offices, more than 800 sales and service channel partners throughout the country, ensuring efficient solutions and quality services at the customer’s doorstep.

History & Evolution

  • Built on Willis Carrier’s invention of modern air conditioning in 1902, Carrier has cultivated a history of proven innovation in the heating, air-conditioning and refrigeration industries, enabling global comfort and efficiency.
  • Willis Carrier’s slide rule, a circular calculating instrument, was patented in 1881 and manufactured by Kueffel & Esser. Carrier used this instrument to calculate dew point control, a breakthrough that was the foundation of his invention of modern air conditioning.
  • In 1914, air conditioning became an international phenomenon, with important installations of equipment designed by Willis Carrier reaching from North America to Asia, Europe, the Middle East, Central and South America.
  • Carrier has a long legacy in India which dates back to 1936, when it installed the country’s first-ever air-conditioning system at Rambagh Palace in Jaipur.
  • Carrier’s presence in India dates back to 1986 when Carrier India was established. In the year 1988, the first manufacturing facility was commissioned in Gurgaon, Haryana. Spread in an area of 19 acres, this state-of-the-art facility consists of a highly automated manufacturing unit, an excellent R&D Center and an advanced quality clinic.
  • Currently, products manufactured in this facility include cassettes, ducted splits, package units, air- and water-cooled screw chillers, air- and water-cooled reciprocating chillers, fan coil units, air handling units, refrigeration products and fire & security products.

Products & Services Offered

Products

  • Commercial
    • Air Handlers
    • Fan coils
    • Chillers/heat pumps
    • Controls
  • Light Commercial
    • Cassette
    • Ducted
    • Floor standing
    • Packaged
  • Air Purifiers
    • Klarwind
    • Air One
  • Refrigeration
    • Cassette
    • Ducted
    • Floor standing
    • Packaged

Services

  • Commercial
    • Installation & commission
    • Maintenance & repair
    • Retrofit & modernize
    • Call centre
    • Totaline parts centre

Industry Opportunity

  • The global air conditioning systems market size was US$ 102.02 billion in 2018 and is expected to register a CAGR of 9.9% from 2019 to 2025. Thermal environmental factors such as humidity, temperature, and air pressure are key to maintaining healthy indoor air.
  • The rising number of hospitals, hotels, individual clinics, auditoriums, and multiplexes across the globe is anticipated to accelerate the market growth for air conditioning soon. The market is also expected to be driven by factors such as the promising growth of the construction and tourism industries.
  • Energy Efficiency Services Limited (EESL), a joint venture of four Public Sector Enterprises under the administrative control of the Ministry of Power, Government of India, announced the launch of a Super-Efficient Air Conditioning program. The program is aimed at promoting the use of energy-efficient technologies and bring about a reduction in energy consumption. Through this program, the Ministry of Power in India also aims to address India’s Hydrochlorofluro carbons, Phase-out Management Plan and Cooling Action Plan by 2032.
  • The air conditioning system market has been segmented into residential, commercial, and industrial segments. The residential segment is anticipated to exceed USD 100 billion by 2025. Meanwhile, the commercial segment is expected to register a CAGR exceeding 6.0% over the forecast period.
  • The Asia Pacific is anticipated to emerge as the fastest-growing regional market. The region held a significant share of over 50% in 2018 in terms of revenue and is anticipated to rise to a valuation of USD 130.0 billion by 2025. This is attributed to the rising usage of air conditioners in emerging countries such as China and India.

Financial Highlights

The Company clocked a total net revenue from operations of INR 152,444 Lakh as against INR 147,681 Lakh in the previous financial year.

Rationale

  • In FY 19-20, the company did well in the ducted segment (especially with the launch of the inverter ducted in 2018). The product is highly energy-efficient and widely accepted across all segments.
  • The commercial air conditioning business sales grew significantly on the backdrop of growth across locally manufactured screw chillers with deeper penetration into segments like pharma and industrial.
  • The BEE labelled Cassette range is gaining traction in the market. Customers are looking at efficiency levels for making buying decisions and so are the requirement of Inverter Cassette is also increasing.
  • The Commercial Refrigeration sales grew steadily in last year with major growth coming in from non-food retail or cold room market. The company’s commercial refrigeration business saw a good jump coming in channel sales. The company also expanded wings in the Indian Region countries and steadily grew sales in the neighbouring countries. The company also expanded its business in certain special segments like IQF, mushroom growth chambers etc.
  • The service business also witnessed consistent growth over the last year and tapped more multinational and local top segments. The company effectively positioned energy-saving solutions such as compressor rack, condensers, and localized condensing units.
  • Carrier Transicold India continues to innovate, provide sustainable solutions, and educate cold chain industry stakeholders in order to establish robust cold chains in India. They continue to be the preferred supplier of truck refrigeration systems due to a large and reliable sales and service network which has now grown to more than 60 service centers pan India.
  • The refrigerated transportation segment has steadily grown over the past few years due to the focus on the growth of the cold chain from the government and industry. Major market drivers owing to this growth are the increase in quick-service restaurant chains, growth in the pharmaceuticals and dairy segment as well as foreign investments and initiatives taken by the government.

Please share your details. We assure to get back to you on priority.

Invalid number

I am an

Company Name