Tekno Valves, which is into manufacturing high-pressure gas cylinder valves, is looking to scale up production capacity by close to 67 per cent to two million valves in the next three years. The company produces close to 1.2 million valves a year at present, and is looking to increase this to 1.5 million by December 2022.
Rohit Behani, partner and CEO at Tekno Valves, said the company has invested close to ₹15 crore in plant and machinery this year to scale up the production capacity. It will invest an additional ₹20 crore to take this up to two million by 2024-25.
“There has been a huge surge in demand for medical gases due to Covid-induced pandemic and this has augured well for our company. We had to change our product mix at the peak of the pandemic period with a higher skew towards medical gases. However, we are also seeing a good demand for industrial gases,” Behani told BusinessLine .
The company aims to increase its turnover to ₹200 crore by 2024-25. During FY22, the company is hopeful of achieving 40 per cent growth in turnover at ₹140 crore.
Tekno Valves has its application in industrial and medical gases, chlorine and corrosive gases, ammonia and amines, firefighting, CNG and self-contained breathing apparatus among others. The valves are tested and certified at BAM in Germany to European, American, and ISO standards and meet BIS specifications for the Indian market.
The company has footprints in over 65 countries across six continents. Exports account for nearly 50 per cent of the company’s total turnover and is likely to further increase to close to 60 per cent over the next three years once the additional capacity comes in.