In the next three to five years, we plan to double our business
What are the current trends you are witnessing in the construction equipment segment?
The trend is very positive, especially in India, following the capex layout by the union finance minister, amounting to almost Rs 10 lakh crore. We anticipate a slowdown in the next few months due to elections, but afterward, with the new government settling in by 2024, we expect a resurgence in construction activities.
Are there any plans to launch electric versions?
Yes, we are extremely conscious of ESG, focusing on greenhouse gas emissions and carbon neutrality. In some divisions, we already have electric vehicles, and there’s talk of having no conventional fuel vehicles by 2030. We take electric solutions seriously, considering customer demand and government commitments to carbon neutrality.
We are also working on the hydrogen variant, though the specifics are still in the design or planning stage. Factors like hydrogen variants will be considered in the future.
What percentage of spending goes into research and development?
I don't have an exact percentage, but we do invest significantly in R&D. While most products are manufactured in India, some are exported, and our R&D setups are not in India. We have a diverse portfolio, and about 90 per cent of tower cranes are manufactured in Europe.
How is after-sales service handled?
We manage after-sales service ourselves with 14 warehouses across the country. We provide spare parts, maintenance contracts, and full services to our customers. Our refrigerators are not related to this industry.
What are your investment plans and capacity expansion?
We are already present in India across different companies. Due to supply chain issues, we are considering diversification into other countries to de-risk our concentration in Europe. Significant plans for investments in India, especially with the supply chain challenges.
What challenges is the industry facing, and how do you plan to overcome them?
The concentration in Europe and recent disruptions in the supply chain have been challenging. We're thinking of diversifying into other countries to mitigate these challenges.
How is the company incorporating sustainability into its practices?
We take ESG reporting seriously and have committed to net zero emissions by certain years. All our divisions are working toward this goal, and our first sustainability report as a group is expected in 2024. As a group, we're committed to making sure our practices align with sustainability goals. We're looking forward to the upcoming questions.
What are your thoughts on the exhibition, and what are your expectations from Excon?
Excon is a great platform for us. It's one of the exhibitions we genuinely participate in, considering the significant customer footfall. Despite missing the 2022 edition, we see it as a crucial investment for publicity and potential business.
How was the company's performance in 2023, and what are the plans for the next year?
We've done reasonably well in 2023, and it's likely to be our highest level of business in India. In the next three to five years, we plan to double our business, bring in more product diversification, and invest significantly in India to increase our capacity.
A-303, Navbharat
Estates,
Zakaria Bunder Road,
Sewri (West), Mumbai - 400 015,
Maharashtra, India
+91-22-24193000
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