Gujarat-based Elecon Engineering Ltd is eyeing revenues of Rs 400 crore from its windmill manufacturing operations.

At present, the company has a low-scale business at this section, which brings Rs 18 crore annually.

However, it plans to strengthen its existing capacity and tThe target for the subsisting year is Rs 100 crore.

Mr. Prayasvin Patel, chairman and MD, Elecon Engineering Ltd, stated, “We are looking at a capacity of 30 mw by the year-end. These will be implemented in different parts of the country and may even be exported through our vendors.”

Elecon supplies windmills currently in the 600 kilowatt range. After its new capacity is operational in Gujarat, it will be capable of supplyinh in the 1-2 mw range.

“We want to have a considerable presence in the 1-2 mw range by the next 3 years,” Mr. Patel added.

For the recent fiscal, the company has reserved a capital expenditure of Rs 180 crore, out of which Rs 20 crore will be invested on windmill capacity expansion, while Rs 100 crore would be invested on manufacturing a windmill gear box facility.

The company would use up the remaining capital for up grading and improving Elecon’s existing material handling and gear box manufacturing facility.

For the recent year (2007-08), the company registered 15% growth at Rs 826, as against the last year. The net profit of the company augmented 22% at Rs 67 crore, as against the previous year.

The annual turnover was Rs 437 crore from material handling and Rs 389 crore from gears. Elecon posted a jump of 6.6% in material handling and 25% in the gear box manufacturing.