Bhagwati Products: Rs 15,000 Cr Revenue Target

New Delhi, Aug 27 (PTI) Electronic contract manufacturer Bhagwati Products aims to clock Rs 15,000 crore revenue in FY26, driven by rapid scale-up in production of devices and storage solutions, the firm said on Wednesday.

Bhagwati Products co-founder Rahul Sharma said the company had recorded Rs 620 crore revenue in FY24, which increased to Rs 6,200 crore in April 2025.

"The company is on track to clock an estimated revenue of Rs 15,000 crore in FY 2025-26, driven by rapid scale-up across smartphones, tablets, TWS devices, and storage solutions," he said.

In April 2025, Bhagwati Products reported a 10X revenue growth, underscoring the momentum behind its expansion. A significant share of this growth has been fuelled by large-scale smartphone manufacturing for global brands, including vivo and OPPO, the company said in a statement.

Bhagwati Products Limited (BPL) claims to have clocked a run rate of 2 million smartphones manufactured and shipped per month.

The company clients include Vivo, OPPO, MiPhi, OnePlus, Lenovo, and Acer.

BPL is expanding operations with a new manufacturing facility near its flagship 15 lakh square feet facility in Greater Noida.

"On track to achieve their 25 million production target by the end of 2025, spanning smartphones, tablets, wearables, and storage devices, BPL has been simultaneously working towards entering component manufacturing, starting with display and expanding into mechanics by year-end. This strategic shift is aimed at positioning BPL as India's first true ODM, moving beyond contract manufacturing into design-led innovation," the statement said.

BPL claims to have raised its workforce from 1,000 to nearly 10,000 employees in a year.

"Through the year, the company will be investing close to USD 10 million in upskilling and hiring initiatives, with a structured Knowledge Transfer and Upskilling Program developed in partnership with Huaqin," the statement said.