Mumbai, Apr 8 (PTI) Hind Rectifiers, power equipment transportation devices manufacturer, is eyeing up to Rs 500-crore revenue in the next two years, a senior company official said.

The BSE-listed firm, which is engaged in manufacturing of power electronics and power conversion devices for a wide range of end-user industries such as railways, power, telecommunication, among others, is also planning to launch signalling and safety solutions for railways in the next few months.

“Our major business comes from the railways. With the government focusing on improving the railway system and increasing the network, we see a huge potential for growth. We expect our revenues to reach up to Rs 500 crore over the next two years,” company’s CEO Suramya Nevatia told PTI here.

The company has three business divisions including electronic equipment, semiconductor and traction. The traction division caters to all the locomotive and coach manufacturing facilities of Indian Railways, mass transit and metros.

“We supply all types of transformers, IGBT converters, power systems, rectifiers, electronics and control software for railways. We have all the necessary products to meet the electrical scope of railway transportation projects. The only area that we are now looking at entering is the signalling and safety segment and we are already developing the products, which we may launch in the next few months,” he added.

When asked about the scope in the railways business, he said the government is targeting production of 1,100 locomotives per year.

“Electrical systems is a key component in this segment, which we cater to. Once the signalling and safety systems are in place, we will be able to meet the 100 per cent demand of the electrical devices segment,” Nevatia said.

The company currently competes with multi national companies like the ABB, Siemens and Avantha Group firm CG, among others.

“We have a very diverse product portfolio today and we compete with a variety of different companies in each segment. As far as market share goes, there are certain products where we have a lesser market share but in a few it goes up to about 65 per cent or more,” he added.

This is published unedited from the PTI feed.