(from left) Yoshiyuki Kato, Managing Director – Panasonic Electric Works (PEWIN), PLSIND; Fumiyasu Fujimori, Managing Director – PMIN, PLSIND; Manish Sharma, Chairman & EGSO, PLSIND; Manish Misra, Chief Innovation Officer, PLSIND; and Tadashi Chiba, MD & CEO, PLSIND, inaugurating the Panasonic Smart Home Experience Center.

Panasonic Life Solutions India (PLSIND), which has closed FY25 with revenues of about ₹11,500 crore, is eyeing a double-digit growth in FY26. This will be led by various business segments including ACs, electrical business as well as B2B offerings such as smart factory solutions. In FY25, the company’s consumer business garnered a year-on-year (y-o-y) growth of 30 per cent, its highest-ever sales growth. The air-conditioners business alone has garnered 47 per cent y-o-y growth in FY25.

On Wednesday, the Japanese technology and consumer products company launched its state-of-the-art Smart Home Experience Centre at its facility in Jhajjar. It features Panasonic’s Miraie (IoT platform)-enabled solutions for health and well-being, safety and security, and comfort and convenience.

Manish Sharma, Chairman & EGSO, Panasonic Life Solutions India, said, “We believe we have closed FY25 with overall revenues of about ₹11,500 crore with a growth of 41 per cent in net profit. We have seen strong growth cutting across businesses.”

Segment-wise biz

“In the AC business, we have seen a growth of 47 per cent, which is ahead of industry growth rate and gained market share. The AC segment is driving our consumer appliance business growth. Consumers are increasingly opting for energy-efficient products focusing on total cost of ownership. Also, being a global company is helping us drive efficiencies for risk mitigation in terms of supply chain,” he added.

For PLSIND, nearly 50 per cent of the business comes from the electrical equipment segment, which includes significant B2B range, consumer goods business contribute 30 per cent, while 20 per cent comes from other B2B offerings such as smart factory solutions.

Asked about expectations for FY26, Sharma said the company expects to maintain its growth momentum and is eyeing a double-digit growth. “Consumer appliance business, led by AC and electrical business, will be among the growth drivers. In terms of B2B business, the government’s focus on Make in India has been a key policy intervention. This is enabling us to see strong growth in demand for smart factory solutions among other areas,” Sharma said.

He added that PLI in the AC components business is driving localisation efforts of the ecosystem and AC sector’s localisation is expected to reach over 75 per cent in the coming times.

Tariff disruptions

On opportunity for India in the ongoing tariff disruptions, Sharma said, “We are closely watching the developments. As you know the negotiations for a BTA are ongoing between India and the US. The country has the potential to attract more investments from global OEMs who may look to leverage on the India opportunity.”

Published on April 16, 2025