Danaher India to more than double revenue to $1 bn by 2017

It owns and runs as many as 30 companies, employing over 5,000 people

Danaher India, an arm of US-based science and technology behemoth Danaher Corporation, has set a target of $1 billion revenue by the time it completes a decade of operations here in 2017.

"As we complete a decade of operations here in 2017, we've set a target of clocking $1 billion in revenue, mostly from our existing businesses.

"Last year, our revenue stood at Rs 3,000 crore," Danaher India President Jai Shankar Krishnan told PTI here.

Like its parent, which thrives on an acquisition-led growth model with around 400 buyouts in past 30 years, Danaher India owns and runs as many as 30 companies, employing over 5,000 people, out of which 1,500 are at its R&D centre in Bangalore.

Out of the 30 companies, six are acquired, including the petrol dispensing machine business it bought from L&T.

Its revenue has beengrowing at 30% per annum for the past many years.

When asked whether each of these 30 companies are profit making, Krishnan, who started off with HUL as a management trainee 25 years ago, answered in the positive.

He has also spent considerable time with Novartis and GlaxoSmithKline.

Asked about how many companies it had exited in the country, Krishnan said none and globally its parent has exited only five so far.

When asked how do they identify the buyout targets, he said the company employs a lean in-house team of M&A specialists and does not employ i-bankers at all.

Danaher's first acquisition in the country was the Petroleum Dispensing Pump (PDP) business unit of L&T by its US arm Gilbarco Veeder-Root in March 2010, while its latest takeover was HemoCue in August 2013 from the Swedish firm Quest AB, which is a leader in the space of point-of-care testing.

On its technology spends, he says Danaher Corporation as a policy invests 7% of its revenue in R&D and has dozens of patents to its credit, including many from here.

The company works with 30 municipal bodies in the country and nets over $100 million annually, making India its largest water products market globally.

Danaher Corporation is a $20 billion NYSE-listed entity

With close to $4 billion in annual cash-flows. It ranked 147 in Fortune 500 listing in 2014 and has been outperforming the S&P 500 Index by nearly 2,800% in the past two decades.