Electrical Control Systems Manufacturing is a Pune, Maharashtra-based industrial manufacturing enterprise established in 1991, with over 34 years of operational excellence in designing, manufacturing, supplying, and exporting custom electrical control panels and instrumentation systems. Founded as a small-scale operation with an initial facility of 5,000 sq ft, the company has grown into a multi-million dollar enterprise, now operating from a 20,000+ sq ft manufacturing facility spread across an owned leasehold plot of 1,553 sq. m with a 99-year lease.
The company's core product lines encompass Instrument Control Panels & Mimic Panels, Purge Control Panels & Analytical Skids, High Tension (HT) Panels with Protection Relay, Motor Control Centers & Drawout Panels, SCADA Panels & Bus Ducts, and Transformer Erection with HT & LT Switch Yard installations. The manufacturing infrastructure includes cutting machines, bending machines, CO₂ welding machines, Busbar machines, Plasma machines, and other precision fabrication equipment.
The company boasts a strong anchor client base, with Thermax Group contributing approximately 65% of revenues across its B&H, Enviro, Cooling, and C&H divisions. Other marquee clients include Johnson Controls India Pvt. Ltd., Emerson Process Management, Sarda Energy & Minerals Ltd., Century Enka Pvt. Ltd., and Inox Pvt. Ltd., among others. The firm serves sectors including boiler and environmental control, process industries, food processing, machine tools, automobile, genset manufacturing, steel, and chemical/petrochemical industries.
Based on the investor presentation, here is the expanded End Use of Funds section:
End Use of Funds:
The investment of ₹27 Crores to ₹30 Crores sought by the company is intended to address multiple strategic and operational priorities that will enable the business to reverse its recent revenue decline and capitalise on its established market position, technical expertise, and international presence built over 34 years.
1. Working Capital Strengthening The company operates on a standard credit period of 90–120 days extended to its industrial clients. With revenues at ₹7 Crores 82 Lakhs in FY 2024-25 and a high concentration of large corporates like Thermax Group (contributing ~65% of revenues), the receivables cycle is long and capital-intensive. A significant portion of the funds will be deployed to bridge working capital gaps, ensure uninterrupted procurement of raw materials such as busbars, switchgear components, relay systems, and sheet metal, and reduce dependence on short-term debt or supplier credit.
2. Capacity Expansion & Infrastructure Upgrade The current manufacturing facility spans 20,000+ sq ft across an owned leasehold plot. Given the breadth of products — from Motor Control Centers and SCADA Panels to HT Panels and Analytical Skids — there is a need to modernise and expand production capacity. Funds will be used to upgrade or add fabrication machinery (such as CNC cutting, advanced busbar processing, and automated bending equipment), improve powder coating and assembly infrastructure, and potentially expand the shed area to handle larger turnkey project volumes simultaneously.
3. Technology & Engineering Capability Enhancement The company already offers PLC programming, SCADA systems, Variable Speed Drive (AC/DC) programming, and Electrical CAD design services. Investment in advanced engineering software, automation tools, and design infrastructure will allow the company to bid for higher-value, more complex projects in the process control and industrial automation segments, strengthening margins beyond the current 16.5% gross profit level.
4. Export Market Development Having successfully executed projects in 12+ countries including Egypt, Saudi Arabia, Japan, Russia, Nigeria, and Oman, the company has demonstrated credible export capabilities. Dedicated funds will be allocated towards international business development — including certifications, compliance with international electrical standards (IEC, UL, etc.), participation in global trade exhibitions, and establishing agent networks or representative offices in high-potential markets such as the Middle East, Southeast Asia, and Africa.
5. Reduction of Financial Losses & Debt Servicing The company reported net losses of ₹4 Lakhs 68 Thousand in FY 2022-23 and ₹11 Lakhs 34 Thousand in FY 2023-24, before achieving a turnaround profit of ₹3 Lakhs 82 Thousand in FY 2024-25. A portion of the investment will be used to retire any existing short-term borrowings or vendor payables that have been constraining operational flexibility, thereby improving the net profit trajectory going forward.
| 2023 (in INR Cr) | 2024 (in INR Cr) | 2025 (in INR Cr) | |
|---|---|---|---|
| Sales | 10 | 9 | 7 |
| EBITDA | |||
| PAT |