Flender India mulls multi-crore investment in Walajabad plant

Flender India CEO Vinod Shetty says that over the last few years, employees strength has grown by 2x, business volume by 3x and investment by 4x.

Flender India, part of the 125-old Germany-headquartered Flender Group, is planning to expand the newly acquired Walajabad plant by making multi-crore investment over the next two years to meet its growth plans, said a top official.

Having invested over ₹800 crore over the last four years, the market leader in drive technology for wind energy and industrial production, is on investment mode. It recently acquired Eickhoff Wind Asia, located at Walajabad.

“Our Kharagpur plant is functioning at 100% capacity and Chennai plant between 80-100% depending upon customers demand. There is hardly any place for expansion. So, we decided to expand the new facility,” said Flender India CEO Vinod Shetty during an interaction.

According to him, discussions are underway with stakeholders and customers for sourcing. The investment on a minimum would be ₹100 crore per year, according to sources.

Flender, which manufacture gear box, couplings and generators for wind energy and industrial segments, derives more than 50% of its revenue from exports. About 70% of revenue comes from wind energy sector and 15% from industrial segment.

“In FY24 (October-September), we reported turnover of ₹2,400 crore. Our average growth in the last two years have been 20% and we hope to post double-digit growth during this fiscal,” he said.

Without divulging details, Mr. Shetty said that over the last few years, employees strength has grown by 2x, business volume by 3x and investment by 4x.

“We recently celebrated Flender group 125 anniversary in Chennai in which customers, suppliers, vendors and senior representatives and top officials from Flender took part,” he said.

In his message, Flender Group CEO Andreas Evertz said that they wanted to play a leading role in energy transition and industrial transformation.