Waves Home Appliances restarts air-conditioner assembly and sales after 2022 suspension

Waves Home Appliances Limited has resumed the assembly and nationwide commercial sale of air conditioners after suspending the product line following import restrictions imposed in 2022, the company informed the Pakistan Stock Exchange on Monday.

The company said its first consignment of 5,000 completely knocked-down air-conditioner kits had arrived from China, allowing it to restart local assembly of T1 and T3 models across key sizes.

Distribution of the air conditioners to Waves Home Appliances’ nationwide dealer network has also begun.

The company said the products had received encouraging initial market acceptance and that revenue from the resumed segment would be recognised during the current quarter.

It expects the restart of air-conditioner operations to contribute positively to overall profitability.

According to the notice, Waves Home Appliances reactivated its relationship with a Chinese air-conditioner kit supplier that also supplies several major brands operating in Pakistan.

The company said improvements in its financial position and a realignment of financial resources had enabled it to arrange imports and secure larger volumes of materials for production.

The air-conditioner line had been temporarily suspended after countrywide import restrictions introduced in 2022 placed pressure on the company’s working capital and supply chain.

The restrictions were introduced amid macroeconomic pressures and monetary tightening, limiting the availability of imported components required for appliance manufacturing.

Waves Home Appliances said the resulting constraints had forced it to halt the production and sale of air conditioners and several other product categories.

Its flagship deep-freezer and refrigerator lines, however, continued operating during the period.

The company said the resumption of air-conditioner production could also support the revival of other suspended product lines, including washing machines, microwave ovens and water dispensers.