Haier Appliances India, the Chinese refrigerator and television maker, has applied for a Press Note 3 approval from the Department for Promotion of Industry and Internal Trade (DPIIT) to receive a fresh capital infusion of Rs 1,000 crore from its parent company, according to its latest filing with the Registrar of Companies (RoC).
The Indian entity is owned by Haier Singapore Investment Holding Pte. Ltd., and while the filing confirms the application is in process, the company has not specified the exact purpose of the capital infusion. Under Indian law, companies with parent entities from nations sharing land borders with India, such as China, require government approval for foreign direct investment under Press Note 3.
Industry sources indicate that the parent company intends to invest in Haier India to set up a third manufacturing facility in the southern region, in addition to its existing plants in Greater Noida and Pune.
Meanwhile, Haier is reportedly in advanced talks with the Bharti Group to sell 49% of Haier India, with the Chinese parent retaining 49% and 2% allocated to employees. Reports suggest that the deal has been finalized but is awaiting regulatory approvals from both India and China before it can be officially announced.
Financial filings reveal that Haier India has surpassed Whirlpool India in sales for FY25, making it the third-largest consumer electronics company in India after LG and Samsung. Haier India posted Rs 8,234 crore in revenue, a 30% year-on-year growth, and a net profit of Rs 480 crore, more than doubling from the previous year. In comparison, Whirlpool India had revenue of Rs 7,420 crore and net profit of Rs 313 crore, while LG Electronics India earned Rs 24,366 crore with a net profit of Rs 2,203 crore. Samsung India’s home appliances business reported Rs 11,823 crore in revenue.
Business analyst Mohit Yadav noted that Haier’s inventory increased from Rs 1,231 crore to Rs 1,844 crore, and supplier dues jumped from Rs 929 crore to Rs 1,535 crore. He explained that this indicates the company is relying more on vendor financing to support its growth. While this strategy works during strong demand cycles, it could strain cash flow if sales slow, since a larger portion of operations depends on short-term supplier credit.
In its filing, Haier stated that it remains committed to cost efficiency, rapid response to market changes, expanding its customer and distribution network, and strengthening its capital base.
