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Business News/ Markets / Ipo/  TCR Engineering plans expansion, eyes IPO by 2025

TCR Engineering plans to expand its materials testing and non-destructive testing operations in India and is eyeing to launch its initial public offering (IPO) by 2025, said its president, Rohit Bafna.

“Recently we launched materials testing and non-destructive testing facility in Odisha. We will expand our operations further. We are looking at going for an IPO by 2025," a company statement quoted him as saying.

The company which has completed 50 years of its operations this year plans to serve its operations in eastern and northeastern states through the Bhubaneswar facility.

At the new facility, TCR Engineering will offer a broad range of materials testing services, including mechanical testing, chemical analysis, and metallurgical testing. The company’s non-destructive testing services include ultrasonic testing, radiographic testing, and magnetic particle inspection, among others.

TCR’s materials testing lab is currently serving many clients in Odisha including Arcelor Mittal Nippon Steel, IFFCO and Essar Construction, among others, the statement said.

The non-destructive testing services division based in Bhubaneshwar has worked on gas pipelines for IOCL and GAIL including Jagdishpur-Haldia-Bokaro-Dhama Pipeline (JHBDPL), primarily its two sections– the Dhamra-Angul (DAPL) and the Bokaro-Angul (BAPL)- in Odisha.

TCR Engineering has been actively working on cross country projects for IOCL with radiography testing and non-destructive testing (NDT). Several prestigious projects including the Paradip-Somnathpur-Haldia Pipeline, Paradip-Haldia-Durgapur LPG Pipeline, as well as several city gas distribution pipeline projects are part of this engagement.

It has also been working for infrastructure companies under supervision of Mecon for different spreads of GAIL including the Jagdishpur-Haldia-Bokaro-Dhamra Pipeline (JHBDPL) which includes the Dhamra-Angul Pipeline (DAPL) in the first part and the Bokaro-Angul Pipeline (BAPL) in the second part.

Founded in 1973, TCR Engineering Services, is an independent material testing laboratory, third party inspection and NDT services company catering to over 3,000 customers worldwide.

TCR’s materials testing division is working for defense industry with clients including HAL, L&T, Bharat Forge, NMRL, DMRL, MTAR and Midhani. It also has a number of fatigue testing machines which is of great demand within the aerospace defense industry vertical.

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Updated: 17 Jun 2023, 08:46 PM IST
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