Rangsons Aerospace, a tier-I partner to major global aviation and aerospace OEMs, has raised Rs. 300 crore from ValueQuest Investment Advisors to drive its expansion plans. The funds will be utilized for research and development, manufacturing, engineering team expansion, and infrastructure development.
As part of its growth strategy, the company is also exploring acquisitions in the US and Europe to gain advanced capabilities, particularly in non-metal composites.
"We need a lot of organic expansion. The money will go into both R&D, as well as manufacturing, engineering team expansion, and infrastructure," said Pavan Ranga, MD of Rangsons Aerospace.
"Aircraft need to reduce their weight. A lot of what we do now is metal manufacturing. We are now trying to see if we can do non-metal composites and critical composite parts. Not even a single company today does that in India," Ranga said. He added that the company is in talks with potential acquisition targets that possess core competencies and technologies that can significantly benefit the Indian aerospace ecosystem.
Rangsons Aerospace focuses on airborne cooling systems, an area that was historically reliant on imports. The company has also expanded into satellite communication (SATCOM) solutions, which are critical for in-flight connectivity, and fluid conveyance systems, which are essential components within aircraft and engines.
In terms of financials, the company is expecting a 94% increase in revenue this year and projecting 120% growth next year. The company also has an order book of over Rs. 1,500 crore.
"I realised that a lot of the airborne cooling systems—actually, close to 95 percent of them—were imported. So, we started developing airborne cooling. We are going to be about a Rs. 250 crore company next year, going into FY25-26. But what's interesting is that we have over Rs. 1,500 crores of order book already with us. So, we're very excited about the journey going forward," Ranga added.
