By purchasing a 74.2 percent stake in AC manufacturer Johnson Controls-Hitachi Air Conditioning India (JCHAI) from parent companies Hitachi and Johnson Control International, Germany's Robert Bosch Gmbh has taken control of the business, increasing its presence in the Indian home appliance market.
Bosch has acquired 74.25 percent of the company's share capital, which was formerly held by Johnson Controls-Hitachi Air Conditioning Holding (UK) Ltd and JCHAC India HoldCo Ltd, according to a stock market announcement made by JCHAI on July 31.
According to regulations, Bosch stated that it will shortly make public the specifics of the open offer for the remaining 25.75 percent of the shares held by minority shareholders in the Indian company.
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Bosch currently operates a home appliance business in India, where it competes with LG and Samsung by selling high-end products like vacuum cleaners, dishwashers, washing machines, and kitchen equipment. By adding JCHAI's AC business, Bosch will become a full-spectrum player in India and gain production and distribution scale.
Although industry officials stated that the choice in India will be made following the open bid because JCHAI is a stock market listed corporation, the German company has stated that it will integrate the acquired business globally.
In 2024–2025, JCHAI recorded revenue of Rs 2756 crore and net profit of Rs 58 crore. Although revenue increased 43.7 percent year over year in FY25, the company also generated a profit after suffering a net loss of Rs 75 crore in FY24. According to industry leaders, JCHAI has also increased its market share, which had dropped to a single-digit level. The business faces competition in the air conditioning market from Tata-owned Voltas, LG, Havells, Daikin, and Blue Star.
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Under the Hitachi Cooling & Heating brand, JCHAI produces a variety of cooling equipment, including ductable, commercial, and room air conditioners. Due to sporadic rainfall and the early start of the monsoon, industry sales decreased by more than 40 percent year over year in the April–June quarter, while JCHAI sales fell by 14 percent year over year to Rs 852 crore.