TCR Engineering eyes IPO by 2025, plans expansion

Rohit Bafna, President, TCR Engineering, announced that the company plans to expand its operations in India for materials testing and non-destructive testing. He stated that they are aiming to launch their initial public offering (IPO) by 2025. According to a company statement, Bafna was quoted as saying, We recently inaugurated a materials testing and non-destructive testing facility in Odisha. We intend to further expand our operations and are considering an IPO by 2025. The company, which is celebrating its 50th anniversary this year, has outlined its plans to serve the eastern and northeastern states of India through its Bhubaneswar facility. TCR Engineering's new facility will provide a wide range of materials testing services, including mechanical testing, chemical analysis, and metallurgical testing. Additionally, the company offers non-destructive testing services such as ultrasonic testing, radiographic testing, and magnetic particle inspection. According to the statement, TCR's materials testing lab in Odisha currently serves various clients, including Arcelor Mittal Nippon Steel, IFFCO, and Essar Construction. Furthermore, their non-destructive testing services division, located in Bhubaneshwar, has been involved in gas pipeline projects for IOCL and GAIL, specifically the Jagdishpur-Haldia-Bokaro-Dhama Pipeline (JHBDPL). The division has primarily focused on two sections of the pipeline, namely the Dhamra-Angul (DAPL) and the Bokaro-Angul (BAPL) sections in Odisha. TCR Engineering has actively participated in cross-country projects for IOCL, providing radiography testing and non-destructive testing (NDT) services. Some notable projects include the Paradip-Somnathpur-Haldia Pipeline, Paradip-Haldia-Durgapur LPG Pipeline, and various city gas distribution pipeline projects. The company has also collaborated with infrastructure companies under the supervision of Mecon, working on different segments of GAIL's projects, including the Jagdishpur-Haldia-Bokaro-Dhamra Pipeline (JHBDPL), which consists of the Dhamra-Angul Pipeline (DAPL) and the Bokaro-Angul Pipeline (BAPL). Established in 1973, TCR Engineering Services is an independent material testing laboratory and third-party inspection company that offers NDT services. It caters to a customer base of over 3,000 clients worldwide. TCR's materials testing division serves the defence industry and has clients such as HAL, L&T, Bharat Forge, NMRL, DMRL, MTAR, and Midhani. The company also possesses a range of fatigue testing machines, which are highly sought after in the aerospace defence industry sector. Also read: Metro's Extension To Push Housing, Commercial RealtyGodrej Properties to buy land for a residential project