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SASMOS HET Technologies Limited, a Bengaluru-based manufacturer and exporter of aerospace and defence technology solutions, expects to increase its revenues to ₹1,000 crore by 2026. Last year, it clocked an annual turnover of ₹315 crore.
The export-oriented company’s 85 per cent of the overall revenues come from its international operations, which was ₹275 crore last year. It has 15 international clients, spread over the US, France, UK, and Israel.
“Our aim is to hit a turnover of at least ₹1,000 crore by 2026, this is our five-year plan,” said Chandrashekar HG, Chairman and Managing Director (CMD), SASMOS HET Technologies Limited, to BusinessLine. Since most of SASMOS’ business comes from exports, it has set separate targets for its Indian and International operations. As for the overseas business, “we are planning to close revenues at ₹450 crore for FY23,” Chandrashekar added.
From its domestic business, the revenue contribution is relatively smaller i.e., 15 per cent, “we expect to hit ₹75 crore this year, which is almost double of our FY22 turnover, i.e ₹40 crore.” Its Indian clients include Bharat Electronics Limited, Bharat Earth Movers Limited, Hindustan Aeronautics Limited, and Larsen & Toubro Ltd amongst others.
Chandrashekar explained how the company operates its business across the world to ensure a better focus on building its business, “we have made the organidation into three legs- US-Europe, the Asian Pacific covering the Middle East and Asia, and then India.”
Drone sector
“The company has been in the drone sector for the last eight years; 20 per cent of the products that we export are for drones, it’s another area of expertise that we have established.” Recently, SASMOS HET Technologies was announced as one of the 11 shortlisted drone components manufacturers under the Productive Linked Incentive scheme (PLI).
“It took us five to eight years before we got our entry card as a vendor in this segment.” Getting into the drone segment has been a challenge for the company. Globally, drones are yet to gain mass momentum and the delay is a result of the many restrictions and challenges in the market, he added.
“We are increasing the footprint in the Devanalhali park, where we are creating additional 200 jobs for FY23,” Chandrashekar said. Currently, SASMOS has a headcount of 1,200 employees.
SASMOS HMT Technologies was incorporated in 2007. The company claims to have grown at a compounded annual growth rate (CAGR) of 61 per cent and has built a 150,000 square feet facility that serves as the center of its innovation, handling 150 projects annually. It operates in areas of aerospace, defence, marine, nuclear, space, and drones (UAV aircraft).
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