Statcon Energiaa is India’s leading power electronics manufacturer with indigenised-designed products catering to solar, power, defence, railways, green hydrogen and EV charging segments. Operating for the past 35 years now, we have our large manufacturing facility (1,25,000 sqft area) in Pilkhuwa Hapur and corporate office in Noida, UP. In solar, we are India’s largest manufacturing company in terms of capacity/volume. In defence, we supply India’s largest load banks, rectifiers and frequency converters for the navy and have recently started exporting defence products to friendly countries as well. Statcon Energiaa manufactures a variety of power converter solutions. We experienced a growth of 56 per cent in the fiscal year 2022-2023, reaching 130 crore. The current fiscal year, ending in March 2024, is expected to conclude with an additional 33 per cent growth, totalling around 173 crore.

The Indian manufacturing sector needs an army of risk takers, and we are contributing in our own way, with a very wide range of indigenised products in the field of solar, power, defence, railways, hydrogen and EV charging. AC and DC power supplies of various ratings are the backbone of any industrial electronics products, and we specialise in high power ratings, from 1 KW up to few MW ratings. An ecosystem has developed utilising our technologies giving rise to growth in industrial IoT, advanced battery chemistries, minigrids, virtual power plants and many more.

We are part of a growing and very vocal group of tech-companies who are promoting innovation and manufacturing in India. I see Indian companies developing manufacturing expertise of existing industrial products that are currently being imported. This change is visible across the industries with many bigger trading houses, starting dialogues to explore part manufacturing in India. There are govt schemes available already which help the companies offset some of the R&D budget and as more and more companies develop an R&D mindset, the India dream will only grow further and further.

We are building solar-based storage solutions with the primary goal being elimination of DG set operating expense. If the diesel consumption becomes zero, the project has already become successful! From a product-supply-only mindset, we have now moved towards containerised all in one solutions, which are helping project companies in India to utilise these containerised solutions for off grid projects such as mining, road building, EV charging stations, mini grid electrification, disaster management areas, PHCs, and many more. Plus, emphasis is kept always on building affordable solutions with high value for money.

Our mini grid inverter supports various ‘Green’ inputs as sources including solar, biomass genset, wind and hydro turbine among others. Our solutions help prevent diesel usage while improving energy independence since they all include storage in the form of batteries. Our hydrogen MW rectifiers help bring down the costs of hydrogen unit generation leading to faster ROI for project developers. Plus to reduce overall emissions associated with global supply chains, we constantly aim for locally made raw materials wherever possible.

It is an effective tool only as far as optics goes. Companies should rather focus on saving money and building value for their customers, which is 100 per cent possible with renewable energy without going in to fancy ESG Terminologies. We have lakhs of satisfied customers whose electricity bill and diesel usage has come down, and who in turn become evangelist marketers for our products. Frankly, I know of very few companies for whom ‘green’ or ‘sustainability’ has led to increase in business.

More and more effort has to be put in R&D as there is a growing scope for made in India products that can at least match of not surpass the current offerings in the market. We have spent a sizable amount over the past few years to develop the power electronics R&D dept in the company and hope to translate that in to growth in the EV, hydrogen, defence and the energy storage sectors. We aim to reach around 170 crore for this year and next year will definitely go beyond 200 crore number.