Panasonic aims for double-digit growth in current fiscal, FY25 turnover nearly Rs 11,500 cr

Jhajjar (Haryana): Appliances and consumer electronics major Panasonic India is looking at double-digit growth in the current fiscal year over the nearly Rs 11,500 crore in FY25, a top company official said.

For the financial year ended on March 31, 2025, Panasonic Life Solutions India's net profit crossed Rs 1,100 crore, registering a growth of nearly 41 per cent, said a company official, sharing the updates as the final closing of the financial year is still under process.

In FY25, Panasonic's consumer goods contributed 30 per cent of the revenue while the B2B segment accounted for 50 per cent.

"We have crossed a potential Rs 11,000 crore on a significant profit exceeding Rs 1,100 crore," Panasonic Life Solutions India Chairman Manish Sharma told a news agency.

Some categories such as devices, room air conditioners and smart factory solutions were the engines of growth, taking leaps for Panasonic, said Sharma.

Asked about growth for FY26, Sharma said, "We are looking for growth exceeding 10 per cent and the construct would be similar to the year gone by." "The first engines of growth will continue to remain the same, air conditioners, the electrical devices, smart factory solutions," said Sharma, adding that he is very optimistic for the industrial devices, electromechanical products, industrial grade compressors, servo motors, etc, in the B2B segments.

However, in FY26, the consumer vertical is expected to have a higher growth led by the current growth of the room airconditioners in the market.

Besides, Sharma also expects good business growth from smart factory solutions segment as companies in India are investing for autonomous factory solutions.

India is among the three important regions for firms headquartered in Osaka, Japan, and it is in the process of building and bringing many more products and high-tech solutions.

"We are in a consistent stage and phase of a potential transformation, and this would be for a variety of reasons, at the centre of which would be the changing aspirations of Indian consumers," said Sharma, adding that consumers now have become much more discerning than what they used to be in the decade gone by.

This is happening because the digital convergence is leading to a situation where people want better products to deal with, he said.

In 2022, Panasonic merged its different businesses as part of restructuring into one unit -- Panasonic Life Solutions India.

Asked about gains from this process, Sharma said, "You can see how various products of Panasonic coming together within the residential spaces are building that kind of value." For products like video door phones, it has collaborated with door lock companies, and CCTV cameras, and, of course, the air-conditioners and various firing devices. All those are riding on one platform to create that unique value, which we are demonstrating today.

In FY25, Panasonic Marketing Solutions India (PMIN), which handles the appliances part of Panasonic Life Solutions India, achieved 30 per cent value growth.

This was the highest-ever sales growth in consumer appliances, driven by the air conditioners, washing machines, and microwave businesses.

The growth was primarily led by the air conditioners business for the highest-ever residential air conditioners sales during the ongoing summer season, registering over 47 per cent in terms of volume growth.