✖
CARRIER AIRCONDITIONING & REFRIGERATION
Last Traded Price
₹495.00 ( 0.00 % )
Principles
Company Name
CARRIER AIRCONDITIONING & REFRIGERATION
Market Capitalization (in Cr)
₹ 5585.78
ISIN No.
INE040I01011
No. of Outstanding Shares
106376745
PAN No.
AAACC8414B
Face Value
₹ 10.00
EPS
₹ 14.15
PE ratio
37.10
P/S Ratio
5.59
Book value
₹ 47.86
P/BV
1.97
DRHP Filed?
No
Available on
nsdl/cdsl
Sector
WAREHOUSE COLD INFRASTRUCTURE
CIN
U74999HR1992FLC036104
Registration Date
July 6, 1992
Stock Performance
Share Details
Company Snapshot
Carrier India is a financially robust, debt-free leader in the HVAC and refrigeration sectors, backed by global expertise and deep localization. With a strong dealer network, broad product and service offerings, and ESG-oriented operations, the company is well-positioned for long-term growth in India’s booming cooling and refrigeration market.
Overview & Heritage
- Incorporation & Legacy: Established in 1936 in India; installed India's first AC at Rambagh Palace (Jaipur). Indian subsidiary formalized in 1986 and merged as Carrier Airconditioning & Refrigeration Ltd in 2006.
- Ownership: Subsidiary of U.S.-based Carrier Global Corporation (~96% holding).
- Manufacturing Facilities: Gurgaon plant (~19 acres) for ACs and chillers; Bawal plant (Haryana) produces over 700,000 ACs annually.
Product Portfolio & Services
- Commercial HVAC: Chillers, air handling units, VRF systems, fan coils, heat pumps, controls.
- Light Commercial & Residential: Cassette, ducted splits, floor-standing ACs, room ACs, air purifiers.
- Refrigeration: Cold rooms, condensing units, inverter systems, supermarket display systems.
- Services: Installation, maintenance, retrofitting, predictive maintenance, parts, and AMC support nationwide.
Strengths & Strategic Initiatives
- Brand & Network: One of India’s pioneering HVAC brands with 900+ dealers, 14+ offices, strong cold-chain presence.
- Sustainability & Safety: IGBC Platinum-certified Gurgaon plant; 35 million man-hours without lost time injury.
- Localization & Expansion: Post-Toshiba acquisition, enhanced local production; continued focus on VRF, aftermarket, and digital monitoring.
- Innovations: “Healthy Buildings” program and DOE 2023-compliant AC models for indoor air quality and regulatory alignment.
Industry Outlook
HVAC (Heating, Ventilation & Air Conditioning) – India
Market Size & Growth
- 2024: ₹97,500 crore (~USD 11.7 billion)
- 2033 Projection: ₹3,78,000 crore (~USD 45.4 billion)
- CAGR: ~16.2% (2024–2033)
Growth Drivers
- Rapid urbanization and infrastructure development
- Rising demand for energy-efficient and smart systems
- Government schemes: ECBC, Green Building Code, Smart Cities Mission
- Commercial sector growth: malls, airports, hospitals, co-working spaces
Key Trends
- Popularity of VRF systems, IoT-enabled HVAC, and AI diagnostics
- Surge in residential and semi-urban demand
- Focus on decarbonized HVAC systems (solar-assisted, natural refrigerants)
Refrigeration Sector – India
Commercial Refrigeration
- 2024: ₹22,500 crore
- 2030: ₹31,800 crore
- CAGR: 6–8%
Drivers:
- Expansion of QSR chains, cloud kitchens, and retail stores
- Rising demand for cold display units, deep freezers, plug-ins
- Growth in food delivery and quick-commerce infrastructure
Industrial Refrigeration
- 2024: ₹9,450 crore
- 2030: ₹15,200 crore
- CAGR: ~8.3%
Key Applications:
- Cold chains for perishables, vaccines, dairy, seafood
- Large-scale food, pharma, and chemical processing
- Move toward natural refrigerants (CO₂, R-290) & low-GWP technologies
Summary
HVAC is witnessing explosive growth in India, supported by climate needs, building norms, and smart tech. Refrigeration demand is being driven by e-commerce, food logistics, and vaccine storage, with strong policy backing for cold chains. Both sectors are transitioning towards sustainable, smart, and cost-efficient technologies.
Latest Shareholding Pattern of Carrier Airconditioning & Refrigeration Ltd.
| Shareholder Category | Shares Held (%) | Remarks |
| Carrier Corporation (USA) | 96.5% | Promoter / Holding Company |
| Public & Others | 3.5% | Minor retail & employee shareholders (unlisted) |
| Total | 100% |
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P/BV:None
FV:₹None
Shares:None
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