Recon Technologies aims to clock Rs 250 crore top line in FY23
Hyderabad: Hyderabad-based Recon Technologies, which provides repair and maintenance of mechanical components pertaining to earth moving machinery, process plant equipment and railways, is seeing a good run rate in its top line and is aiming to clock Rs 250 crore in FY23. The company is looking to strengthen its presence in roads and other infrastructure […]
Hyderabad: Hyderabad-based Recon Technologies, which provides repair and maintenance of mechanical components pertaining to earth moving machinery, process plant equipment and railways, is seeing a good run rate in its top line and is aiming to clock Rs 250 crore in FY23.
The company is looking to strengthen its presence in roads and other infrastructure sectors besides exploring new sectors/industries such as making equipment for the pharmaceuticals sector.
Venu Vinod, MD, Recon Technologies, told Telangana Today, “Telangana remains a key hub for pharmaceuticals. We see a major scope for making equipment for this industry. The plan is in early stages, and by 2023-24, we will finalise it.”
“We continue to look at growth avenues across sectors. Last fiscal, we clocked a top line of Rs 186 crore. This fiscal, we may touch Rs 220 crore, and next fiscal (FY23) as we expect more mining and contracting works, we anticipate the top line to be around Rs 250 crore.”
Established in 1996, the company has developed expertise in executing turnkey jobs involving fabrication, repair and maintenance welding, powder spraying, heat treatment and machining including in-situ. The company was also appointed as an OEM (Original Equipment Manufacturer) in 2007 for Mahindra & Mahindra to manufacture their Powerol brand diesel generator sets.
The company currently has 300 employees across its facilities and expects this number to go to 350-400 by the end of 2022, he informed.
Serving Tata Hitachi
Recon opened on Monday a 8,000 sq ft Machine Care Facility (MCF) at Gagillapur, Medchal in Malkajgiri District, spread over two acres that will employ 75 people comprising technicians and engineers. It has invested Rs 3 crore for this facility, bringing the total investment so far in its facilities to Rs 30 crore.
He added, Recon has earlier set up similar facilities in Jamshedpur and Dharwad. The company is an authorised dealer for Tata Hitachi Machinery Construction handling excavators and wheel loaders. It serves mining companies such as NMDC and Singareni Collieries Company in Telangana.
The company covers Hyderabad, Rangareddy, Nalgonda and Mahabubnagar districts of Telangana selling 20 variants of excavators. It sells 300 excavators in Telangana every year, which are used in roads, irrigation and other infrastructure sectors.
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