Bhagwati Products Ltd has achieved a milestone of crossing revenues worth Rs 17,000 crores and this can be considered an important milestone on their growth path. In just two years, the company has grown at a very fast pace as revenues have almost reached ten times the level they were in FY24 to Rs 6,200 crore from Rs 620 crore in FY24.
Manufacturing of smartphones responsible for robust growth:
Bhagwati Products’ smartphones constitute their biggest segment in terms of their contribution to revenues. Currently, the company has an annual capacity to produce 40 million smartphones annually for the world’s best known smartphone companies such as Vivo, OPPO, and Lenovo.
Growth has been possible due to the increase in production capacities particularly that of the SMT and FATP lines. It has improved production efficiency and flexibility among various product categories. Apart from smartphones, the company has plans to expand into other products such as tablets and TWS.
Building a robust electronics platform:
Bhagwati Products has now shifted from mass manufacturing to building robust capability in design, engineering, component sourcing, and advanced manufacturing. This shows that it intends to build a robust electronics platform in the coming time.
Speaking on this milestone, Rahul Sharma, Co-founder, Bhagwati Products Limited, says, “Our dream is to be the No. 1 Electronics Design Platform of India. We feel that India’s true potential does not lie in mass manufacturing but in developing robust capabilities in design, engineering, component sourcing, and advanced manufacturing. Our goal is to develop robust design-driven innovation and leverage global technology capabilities in India in order to help global brands scale with confidence and make India a strong player in the global electronics value chain.”
Focus on technologies for the future:
The collaboration between the company and Huaqin has been an integral part of growing faster through improved product development and production capacity. Bhagwati Products is getting ready to enter into IT hardware, computing, and automotive electronics.
With the development of the electronics industry in India, the company is targeting a growth from a manufacturer to an electronics platform.
