Now Reading: Gradiant expects India business to double next year
-
01
Gradiant expects India business to double next year
Industrial water technology company Gradiant expects its India business to double next year, driven by demand from semiconductor, solar, printed circuit board and data centre projects. The company's global order book is…
Industrial water technology company Gradiant expects its India business to double next year, driven by demand from semiconductor, solar, printed circuit board and data centre projects. The company's global order book is approaching $1 billion, with India accounting for roughly 10% of current revenue.
Gradiant COO Govind Alagappan said the challenge is building engineering and execution capacity to convert orders into delivered plants. "It is not about getting more orders. It is how do I convert that order and execute them," he said. The company has around 250 employees across its Chennai and Coimbatore Global Engineering Centre.
Semiconductors are Gradiant's biggest India focus. The company is involved in two of the largest semiconductor water-treatment deployments in the country. Data centres are an emerging opportunity, with discussions underway with top global hyperscalers. Gradiant recently completed Series E financing at a valuation of $2 billion.
Indian Opinion Analysis
India's semiconductor ambitions directly feed Gradiant's forecast. The government's Rs 76,000 crore production-linked incentive scheme for semiconductors and display manufacturing, launched in 2021, aims to make India a chipmaking hub. Each fabrication plant requires immense ultrapure water for wafer cleaning and chemical processes, a market dominated by a few global specialised firms. The real constraint is execution capacity, not demand: Gradiant must hire and train enough engineers in Coimbatore and Chennai to deliver its $1 billion global order book. Whether it can double India revenue depends on converting that backlog into completed plants within 18-month project timelines. An IPO remains off the table until that delivery machine is proven.
Source: thehindu.com
This brief was synthesised by AI from the source linked above.
