Esconet Tech aims 3-fold jump in revenue to Rs 300 crore by March 2026

IT solutions company Esconet Technologies Ltd aims to triple its turnover to Rs 300 crore by March 2026 and plans to launch a public issue to raise funds for expansion.

The company posted a turnover of Rs 94.97 crore and a profit after tax (PAT) of Rs 3.03 crore in 2022-2023. In the first half of this year, the company posted a turnover of Rs 71.46 crore and a PAT of Rs 3.05 crore.

In a statement, Esconet said it plans to expand its production capacity with high-end servers, workstations and storage systems. It is also expanding its Private Cloud vertical, further strengthening its integrated solutions offering.

“To meet capital expenditure and working capital needs to support its growing operations, the company plans to tap the capital markets – through a listing on NSE Emerge,” the company said.

Corporate Capital Ventures has been appointed as book running lead manager for the issue.

“Driven by an unwavering commitment to delivering innovative and reliable solutions to enable our customers to unlock their full potential, we are charting plans to expand our manufacturing capabilities and services,” said Santosh Agrawal, Managing Director of Esconet Technologies.

“…we plan to increase our market share in the next three years by raising funds through an IPO. This will enable us to cross Rs 300 crore in turnover by March 2026, which means a three-fold growth compared to by Rs 94.97 crore in FY23,” he said.

Founded in 2012, Esconet Technologies produces supercomputers, data servers and graphics workstations.

It offers its customers a wide range of IT solutions, including data storage and management, data networking, office productivity solutions, cloud services, data security and data center solutions.

Esconet meets the server, storage, network, security, virtualization and data protection requirements of SMEs, large enterprises and public sector customers.