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Business Type

Traditional Business

Discover and get a complete analysis on Carrier AC Pre IPO - Carrier AC Management, Business Model, Financials, Growth, Valuations, Funding Rounds, News and get latest updates on Carrier AC Financial Statements.



Face Value


Total Share


Total Income

₹1,549.45 Crores

Profit After Tax

₹47.45 Crores







Market Capitalisation

₹3,882.75 Cr

Book Value


Intrinsic Value


Earnings Yield

1.22 %


Consumer Discretionary


Home Electronics & Appliance


Upcoming IPO

Cashflow - Operations

₹58.11 Crores

Cashflow - Financing

-₹204.18 Crores

Carrier AC Growth

Compounded Sales Growth

  • 2.52%

    1 Year

  • 6.89%

    2 Year

  • 3.85%

    3 Year

Pro Only

Compounded Profit Growth

  • -30.25%

    1 Year

  • -19.31%

    2 Year

  • -16.21%

    3 Year

Pro Only

Return On Equity

  • 12.85%

    1 Year

  • 13.99%

    2 Year

  • 14.32%

    3 Year

Pro Only

About Carrier AC

  • Carrier is one of the popular brands in the commercial air conditioning segment. In 2012 it joined hands with the Chinese air conditioning manufacturer Midea to foray deeper into the Indian residential market. 
  • The joint venture brought together Midea’s design and manufacturing expertise in residential air conditioning and Carrier’s strong PAN-India distribution network. The resulting synergy made CMI (Carrier Midea India) an important player in the residential air conditioners segment in India. 
  • CMI offers offer myriad of AC models catering needs of varied customers. For commercial users, they offer cassette and VRF (variable refrigerant flow) systems and ducted ACs while residential it offers windows and split air conditioners.
  • Carrier Midea India has a factory at Bawal, Haryana which is one of India’s largest AC manufacturing plants with a capacity to produce over 7 lakhs ACs per year with plans to increase it to 1 million in upcoming years.
  • 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.
  • Toshiba Carrier Corporation announced its establishment of Toshiba Carrier Air-Conditioning India Private Ltd., a joint venture with United Technologies Corporation, in Gurgaon, Haryana, India. The new joint venture, incorporated on August 14, 2018, and headquartered in the premises of Toshiba India Private Ltd., allows Toshiba Carrier to localize planning, development, manufacturing, and sales of its commercial air conditioning products, expanding its footprint in the country.

  • Carrier AC Product & Services

  • Air Handlers
  • Fan Coils
  • Chillers/Heat Pumps
  • Controls

Light Commercial
  • Cassette
  • Ducted
  • Floor standing
  • Carrier VRF
  • Packaged

Air Purifiers
  • Klarwind
  • Air One

  • Modular Cold Rooms
  • Condensing Units
  • Inverter Condensing Units
  • Screw Compressor Rack
  • Evaporator Units
  • Carrier AC Industry Overview

Industry Statistics

  • The Indian HVAC (Heating, ventilation, and air-conditioning) systems market size was valued at ₹ 61,392 crores in 2019 and has projected to register a CAGR of 16.1% from 2020 to 2030. 
  • Increasing urbanization and the emergence of energy-efficient HVAC systems are the factors driving the market growth. 
  • Furthermore, the governments are engaged in promoting the usage of energy-efficient HVAC units by offering incentives and rebate programs. Such programs and initiatives are also anticipated to drive market growth over the forecast period.
  • The demand for HVAC equipment is rapidly increasing owing to growing spending in the construction sector and rising disposable incomes across major economies. 
  • Another major factor contributing to the high demand for HVAC equipment across the country is climate change. 
  • Due to rising temperatures and unpredictable climatic conditions, several customers consider HVAC equipment as a beneficial investment. Furthermore, rising customer inclination toward comfort has increased the demand for HVAC systems.
  • The India HVAC market growth is being negatively affected by the COVID-19 scenario, both on the demand and supply sides. Due to the lockdowns imposed in several countries to curb the spread of the disease, the manufacturing and import of such equipment to India have been severely hit.

Carrier AC Strengths

  • Total revenue has increased with a CAGR of 4.3% from 2017 to 2020
  • The company has a current ratio of 1.5, making it solvent. 

Carrier AC Shortcomings

  • The operating profit margin has dropped from 7.3% in 2019 to 6.2% in 2020.
  • Return on equity has declined to 12.4% in FY2020
  • The total asset has declined with a CAGR of 15% from ₹ 1028 Cr in FY2019 to ₹ 869 Cr in FY2020.

Carrier AC Opportunities

  • Investments in green building solutions for the future will help in new business and reduce its carbon footprint.
  • Strategic acquisitions like Environment market Solutions, Inc. will help bolster its portfolio.

Carrier AC Threats

  • More no. of competent entering in the market with a similar budget segment.
Carrier AC Rating



  • Carrier AC Detail Info

Industry Statistics


Registered In


last Updated


Registered Date


Planify Ticker


Reg Office: Narsingpur, Kherki Daula Post, Gurgaon - 122001, Haryana

Website: http://www.carrier.com