Bhagwati Products Limited (Micromax) has announced extraordinary growth momentum, positioning itself as India’s fastest-growing Original Design Manufacturer (ODM). The company reported a remarkable 10X revenue growth in April 2025, just eight months after joint venture approval, and is now targeting ₹15,000 crore revenue in FY 2025-26 through aggressive expansion across smartphones, tablets, TWS devices, and storage solutions.
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Bhagwati Products Limited’s Record-Breaking Growth Metrics
| Growth Metric | Achievement |
|---|---|
| Revenue Growth | 10X increase in April 2025 |
| FY 2025-26 Target | ₹15,000 crore revenue |
| Current Revenue | ₹6,200 crore (8 months post-JV) |
| Monthly Production | 2 million smartphones |
| Workforce Expansion | 1,000 to 10,000 employees |
| Upskilling Investment | $10 million USD |
| Production Target 2025 | 25 million devices |
The company’s manufacturing prowess is evident through partnerships with global brands including Vivo, OPPO, OnePlus, Lenovo, and Acer, spanning diverse product categories from smartphones to storage solutions.
Strategic Manufacturing Expansion
BPL operates from a flagship 1,500,000 sq. ft. facility in Greater Noida and is expanding with an additional manufacturing facility to meet exponential demand. The company maintains four advanced manufacturing locations across Greater Noida, Hyderabad, Bhiwadi, and Rudrapur, ensuring world-class reliability and efficiency.
Rahul Sharma, Co-founder of BPL, emphasized their vision: “We are not just focused on building for today but are laying the foundation for the future of Indian electronics design and manufacturing… our ambition is to make India not only self-reliant but also a driving force in the global electronics value chain.”
People-First Growth Strategy
BPL’s expansion includes massive workforce development, scaling from 1,000 to nearly 10,000 employees within a year. The $10 million investment in upskilling initiatives includes a structured Knowledge Transfer and Upskilling Program developed in partnership with Huaqin Technology.
This people-centric approach supports BPL’s transition from contract manufacturing to design-led innovation, positioning it as India’s first true ODM company.
Component Manufacturing Ambitions
Beyond device assembly, BPL is strategically entering component manufacturing, starting with display technology and expanding into mechanics by year-end. This vertical integration approach strengthens India’s electronics supply chain while reducing dependency on imports.
The company’s 2024 joint venture with global design leader Huaqin Technology combines cutting-edge innovation with manufacturing excellence, delivering high-performance, future-ready solutions.
Supporting India’s Technology Vision
BPL’s growth aligns perfectly with the Government of India’s vision of becoming the world’s leading technology hub. Through job creation, strategic investments, and technological innovation, the company actively supports Make in India and Atmanirbhar Bharat initiatives.
The company’s diversification strategy aims to unlock cross-sector synergies while harnessing India’s growing digital economy and world-class engineering talent, positioning BPL as a trusted global manufacturing partner.
This remarkable transformation showcases how Indian companies can scale rapidly while maintaining quality standards in India’s electronics manufacturing ecosystem.
FAQs
What is BPL’s revenue target for FY 2025-26?
BPL is targeting ₹15,000 crore revenue, up from the current ₹6,200 crore achieved in just 8 months.
How many smartphones does BPL manufacture monthly?
The company has a run rate of 2 million smartphones manufactured and shipped per month.
