Esconet Tech Targets Rs 300 Cr Revenue by 2026

New Delhi, Dec 8 (PTI) IT solution firm Esconet Technologies Ltd is aiming to achieve a three-fold jump in revenue to Rs 300 crore by March 2026 and plans to launch a public issue to raise funds for expansion.

The company posted a revenue of Rs 94.97 crore and a Profit After Tax (PAT) of Rs 3.03 crore in 2022-23. In the first half of this year, the company posted a revenue of Rs 71.46 crore and a PAT of Rs 3.05 crore.

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

"To meet the capex and working capital needs to support expanding operations, the company plans to tap the capital markets -- through listing on NSE Emerge," the company said.

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

"Driven by unwavering commitment in providing innovative and reliable solutions to empower our customers in unlocking their full potential, we are charting plans to expand our manufacturing capabilities and services," Esconet Technologies Managing Director Santosh Agrawal said.

"...we intend to increase our market share in the next three years by raising funds through an IPO. This will enable us to exceed Rs 300 crore revenues by March 2026, registering a three-fold growth compared to Rs 94.97 crore in FY23," he said.

Incorporated in 2012, Esconet Technologies manufactures super computers, data servers, and graphic workstations.

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

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