Laser Power targets ₹4,000 crore annual revenue in three years without major capex

Laser Power & Infra expects to scale its annual revenue to around ₹4,000 crore over the next three years, driven by existing capacity, rising demand for power transmission infrastructure and limited additional capital expenditure.

The company also plans to use a large part of its IPO proceeds to repay debt, strengthening its balance sheet and improving profitability.

Managing Director Deepak Goel said the company has enough unused manufacturing capacity to support its next phase of growth without major investments. "We have a capacity to scale it up to ₹4,000 crores because of the headroom of unutilised capacity that we have," he said, adding, "We expect that to happen within the next three years timeline."

The company plans to repay around ₹500 crore of debt through the IPO proceeds. Goel said Laser Power currently has around ₹800 crore of debt, with net debt of nearly ₹600 crore. The repayment is expected to reduce annual interest costs by ₹40-50 crore.



Goel believes India's plan to expand power generation capacity from 500 GW to 900 GW by 2032 will create sustained demand for transmission and distribution infrastructure. Laser Power operates across the T&D value chain, supplying cables, conductors and EPC services, with manufacturing contributing about 70% of revenue.

To strengthen its product offering, the company has tied up with a US firm to bring advanced conductor technology to India. "We are bringing in the best technology for improvement of delivery from point A to point B, just by replacing the conductor. That means the towers will remain the same," Goel said, highlighting how utilities can increase transmission capacity without replacing existing towers.



The company is also seeing rising demand for underground cables as more cities move power infrastructure below ground. At the same time, it is expanding into higher-voltage cables and expects the conductor business to account for a larger share of revenue over time.

Goel said Laser Power's capital-efficient model gives it an edge as it expands. With capacity utilisation at around 65%, the company believes it can significantly increase output with modest investments. "If I have to invest maybe ₹100 crores, for me to generate a revenue of ₹600-700 crores from that ₹100 crores of investment would not be very difficult," he said.

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The company expects lower debt, efficient capacity utilisation and continued investment in India's power transmission network to drive its next phase of growth.

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