Delhi-headquartered Esconet Technologies expects to cross Rs. 300 cr revenue mark by FY2026; firms up IPO plans
Telugu super news,Hyderabad, December 7, 2023: Esconet Technologies Limited, a leading homegrown integrated IT solutions company, expects to achieve three-fold revenue growth- surpassing the Rs. 300 crore mark by March 2026. The Delhi-headquartered company posted a revenue of Rs. 94.97 crore and a profit after tax (PAT) of Rs. 3.03 crore in FY23. During H1FY24, the company further improved its performance – posting revenues of Rs. 71.46 crore and a PAT of Rs. 3.05 crore.
The company plans to expand its manufacturing capacity comprising high-end servers, workstations and storage systems under its own brand ‘HexaData®’. At the same time, 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. Corporate Capital Ventures has been appointed as the Book Running Lead Manager to the issue.
Esconet Technologies manufactures high-performance supercomputers, data servers and graphic workstations. It also 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. With over a decade of expertise in handling data storage systems, the company specialises in petabyte-scale data migrations across numerous platforms and storage devices, ensuring minimal inconvenience to users.
Elaborating on the company’s capex plans, Mr. Santosh Agrawal, Managing Director, Esconet Technologies Limited, said, “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. In an ever-evolving digital landscape with infinite opportunities, 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 the FY2023.”
Contributing significantly to the flagship initiative ‘Make In India’, Esconet manufactures high-end servers, workstations, and storage systems under its brand, HexaData®, catering to the domestic market. Designed to handle the most complex data-intensive tasks, HexaData® is optimised for high-speed data processing, Artificial Intelligence, Machine Learning, and advanced simulations that were traditionally only possible on dedicated supercomputing clusters. It also specialises in high-capacity and high-throughput data storage solutions built on parallel file systems.
Esconet forged productive collaborations with global IT behemoths such as Intel, AMD and NVIDIA to introduce HexaData, a supercomputer server with a hybrid architecture that combines NVIDIA’s GPGPUs with AMD/Intel CPUs. Microsoft, Dell EMC, Cisco Hewlett Packard Enterprise (HPE), VMware, Nutanix, RedHat, Suse, Veeam, Sophos, and Trend Micro are key technology partners.
In addition to its signature HexaData® line, the company caters to diverse client demands by reselling premium IT Infrastructure Hardware and Software in areas such as Servers and Graphics Workstations, Virtualization software for Servers, Desktops, Applications, Backup and Disaster Recovery solutions, Datacentre and Access Networks, Advanced Software Defined Networks, Network Security tools, both hardware and software-based, Email Communication Systems complemented by robust Email Security, Databases with an emphasis on High Availability, Cutting-edge Log Management and Analytics software.
The company has received crucial certifications in ISO 9001 for QMS, ISO 20000 for ITSM, and ISO 27001 for ISMS, demonstrating its dedication to quality and security.