Robert Bosch Gmbh is set have a bigger presence in India as it eyes acquiring control of Johnson Controls-Hitachi Air Conditioning India (JCHAI).According to a stock exchange filing on Monday, Bosch acquired a 74.2% stake from JCHAI’s parent organisations Johnson Controls-Hitachi Air Conditioning Holding (UK) and JCHAC India HoldCo Ltd, effective July 31, reported the Economic times.Bosch will shortly announce details regarding the mandatory open offer for the remaining 25.75% shares held by JCHAI’s minority shareholders. The full financial terms remained undisclosed.This acquisition is linked to a broader global transaction where Bosch announced its intention to acquire the AC solutions division for residential and light commercial buildings from Johnson Controls approximately a year ago.The agreement includes Bosch’s complete acquisition of the Johnson Controls-Hitachi Air Conditioning joint venture in India, including Hitachi’s 40% ownership. The global transaction, valued at $8 billion, represents Bosch’s largest acquisition to date.In India, Bosch’s current home appliances portfolio includes refrigerators, dishwashers, washing machines, kitchen appliances and vacuum cleaners, targeting the premium market alongside competitors like LG and Samsung.Although the company plans global integration of the acquired AC operations, industry experts indicate that decisions regarding India will follow the open offer completion, given JCHAI’s listed status.JCHAI reported ‘2,756 crore in sales and ’58 crore in net profit for FY25, showing 44% revenue growth and a return to profitability after FY24’s ’75 crore net loss. Meanwhile, the June quarter saw JCHAI’s sales decrease by 14% year-on-year to ‘852 crore, outperforming the industry’s 40% decline in 1QFY26 due to early monsoons and irregular rainfall.According to JCHAI’s annual report, light commercial air conditioner demand is increasing due to government expenditure in healthcare, education, transport infrastructure, and private sector investments in various sectors.Industry sources, cited by ET indicate JCHAI’s improved market position, competing with Tata-owned Voltas, LG, Havells, Daikin and Blue Star.JCHAI produces various cooling solutions including room, commercial, and ductable ACs under the Hitachi Cooling and Heating brand.The company is expanding internationally across South Asia, establishing presence in Bangladesh, Maldives, Sri Lanka, Nepal and Bhutan.
