Bhagwati Products Targets Rs 15,000 Crore Revenue by FY26 Through Expanded Production

Bhagwati Products, an electronic contract manufacturer, is targeting a revenue of Rs 15,000 crore for the fiscal year 2025-26. This ambitious goal is driven by a rapid increase in production of devices and storage solutions. The company reported Rs 620 crore in revenue for FY24, which surged to Rs 6,200 crore by April 2025, according to co-founder Rahul Sharma.

In April 2025, Bhagwati Products experienced a remarkable tenfold increase in revenue. This growth highlights the company's expansion momentum. A major contributor to this success has been large-scale smartphone manufacturing for international brands like vivo and OPPO. The company stated that it has achieved a run rate of producing and shipping 2 million smartphones monthly.

Expansion and Strategic Goals

The company's clientele includes prominent names such as Vivo, OPPO, MiPhi, OnePlus, Lenovo, and Acer. Bhagwati Products Limited (BPL) is expanding its operations with a new facility near its existing 15 lakh square feet plant in Greater Noida. This expansion supports their goal of producing 25 million units by the end of 2025, covering smartphones, tablets, wearables, and storage devices.

BPL is also venturing into component manufacturing. They plan to start with display components and expand into mechanics by the end of the year. This strategic move aims to establish BPL as India's first true Original Design Manufacturer (ODM), transitioning from contract manufacturing to design-led innovation.

Workforce Growth and Investment

The company has significantly increased its workforce from 1,000 to nearly 10,000 employees within a year. To support this growth, BPL will invest approximately USD 10 million in upskilling and hiring initiatives throughout the year. A structured Knowledge Transfer and Upskilling Program has been developed in collaboration with Huaqin.

BPL's strategic initiatives are positioning it for substantial growth in the coming years. The focus on expanding production capabilities and entering component manufacturing underscores its commitment to becoming a leader in the industry. By investing in workforce development and innovation, BPL aims to achieve its ambitious revenue targets while enhancing its market position.

With inputs from PTI