City-based Nipha Group is looking to grow at 20 per cent over the next five years, backed by capacity expansion and acquisitions.

The engineering and manufacturing company, which commemorated its 65th anniversary on Saturday by releasing a biography of its founder and chairman emeritus late G.D. Shah, offers solutions for sectors such as agriculture, railways, electrical switchgear, jute machinery, construction and mining among others.

“We are growing at the rate of around 20 per cent year-on-year. This year also we are expecting 15-20 per cent growth. Import substitution and exports are the key focus areas for us. Among our main markets are the US, South East Asia, Europe and our neighbouring countries such as Myanmar and Bangladesh,” said Mahesh Chandra Shah, chairman of Nipha.

“We have nine units across Faridabad, Howrah, Serampore, Chandannagar and Falta. We are setting up two more units at Dankuni and Chandannagar. In order to expand the capacity further, we may look to acquire a foundry in India.

“We are thinking about acquisitions in the US also to be present closer to the customer market as there are discussions of them considering imposing duties,” said Shah adding that financing inorganic expansion is unlikely to be a challenge.

The company is also looking to expand its presence in the wheels and axles segment of the railways. “For Vande Bharat, we are making multiple parts for supply to the private sector and also the railways directly,” said Shah.