Hycom Engineering, a precision engineering manufacturer, is planning to establish a third production facility in Bidadi, Karnataka, with a proposed investment of ₹100 crore, according to a report by The Hindu Business Line. The new plant is expected to double the company’s annual production capacity from 40,000 units to 80,000 units by FY29 and generate direct employment for 250 individuals.
The proposed facility will complement Hycom’s two existing plants in Peenya, which currently serve domestic and international markets. The company’s products, including swivel joints and rotary actuators, are used in construction equipment, material handling, and access equipment.
This expansion aligns with Hycom’s broader growth strategy to increase its revenue from ₹50 crore in FY24 to ₹115 crore by FY29. The company is also aiming to raise the export share of its sales from 15-18% to 35-40% during the same period.
Hycom’s key export markets include North America, Europe, Japan, and China, with a focus on the USA and Europe. The company is also exploring opportunities in Japan through partnerships with original equipment manufacturers (OEMs).
Founded in 2010, Hycom Engineering supplies components to major global manufacturers such as Hyundai Construction Equipment, CNH Industrial, Sany, and Volvo Construction Equipment. The planned Bidadi facility is part of the company’s efforts to meet rising domestic and international demand for precision engineering products.