Honeywell Automation Eyes 12-14% Revenue Growth
Software and sustainability solutions provider Honeywell Automation India aims at 12-14% revenue growth every year going forward on the back of an increase in scope for verticals such as pharmaceuticals for automated systems, the gas industry in transition from conventional coal to LNG (liquefied natural gas), and sustainable technology solutions. The company, which had reported a 3% decline in revenue from operations at Rs 2,948 crore in FY22 owing to the impact of Covid-19, the slowdown in the global economy, and supply chain disruptions, has now seen an improvement in business conditions and is confident of a sustained growth momentum owing to digitisation. In the six months that ended September, the company’s revenue rose 11% on the year and its order book grew by 16%. The improvement in the availability of chipsets and ease in supply chain constraints have also improved the execution of orders by the company. Besides having a portfolio of products such as sensors, building management systems, access controls, and fire life safety, the company is actively focusing on sustainable development solutions as the industries focus on reducing their carbon footprints.
Tags : Honeywell Automation revenue growth Software sustainability solutions increase verticals