Delhi-based air management solutions provider, Bry Air, is eyeing acquisitions in Japan and Europe in the commercial and industrial segments where it is a leading global player, besides planning a foray into solar energy.
Delhi-based air management solutions provider, Bry Air, is eyeing acquisitions in Japan and Europe in the commercial and industrial segments where it is a leading global player, besides planning a foray into solar energy
"We are in talks with a Japanese company and besides, are also eyeing good acquisition opportunities in Europe. We are also mulling a foray into solar power and will finalise our plans in the next quarter," Bry Air's Managing
Director, Deepak Pahwa, said here.
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The acquisition deal-size would be around Rs 25-30 crore but if a good opportunity presented itself, then the company had the ability to rustle-up up to Rs 100 crore, he said.
Bry Air, which acquired a German company A+H two years ago (now known as Bry Air A+H), plans to fund its buys through internal accruals. In solar, the company is evaluating whether to enter the photo-voltaic segment or the solar thermal segment. Within photo-voltaic, it is mulling whether to set up a greenfield photo-voltaic module manufacturing or a chip manufacturing plant.
"If we enter solar thermal, we plan to invest in R&D to develop cutting-edge technologies," Pahwa said. This foray too would be funded substantially through internal accruals, he said.
The facilities would be set up at Gurgaon, Pahwa said, adding that a photo-voltaic module plant of 20 MW would entail an investment of around Rs 15 crore while a chip-manufacturing one would entail a higher outlay. "We might then rope in a little debt," he said.
Investment in solar thermal would entail an outlay of around Rs 20 crore in R&D, he said, adding the company's intention is to develop state of the art technology which would be useful in the years ahead. The company is eyeing a turnover of Rs 275 crore this fiscal but has an ambitious Rs 400 crore target for FY 11.
"With the recession fading, our commercial business is picking-up and our industrial side is growing as well. Revenue from our inorganic acquisitions will also kick-in. We should be able to touch the Rs 400 crore turnover mark in FY 11," Pahwa said.
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