We've experienced a growth of 10 to 12%
Can you share details about the recent product launch and its significance?
We recently launched the PC 500 hydraulic excavator, a 550-tonne machine. This contemporary machine is cost-competitive, fuel-efficient, and equipped with advanced telematics and sustainable solutions. We believe it adds significant value to our product range, especially for customers involved in overburden removal in the coal industry.
What are the three key trends influencing the construction equipment market currently?
The three prominent trends are sustainability, inclusiveness, and technology. Sustainability involves adopting alternate fuels, eco-friendly practices, and safety measures. Inclusiveness focuses on increasing workforce diversity, particularly encouraging more women to join the industry. Lastly, technology plays a crucial role in providing long-term value to customers, emphasising lifecycle costs, total cost of operations, and digitalisation for efficient aftermarket services.
Speaking of digitalisation, how does it feature in your machines, and could you elaborate on your skilling initiatives?
Digitalisation is integral for ensuring timely availability of parts and services to customers. In terms of skilling initiatives, Larsen & Toubro has been actively involved with the Infrastructure Equipment Skill Council, training and certifying thousands of individuals. We are proud to be a leader in this effort, not only focusing on operators and mechanics but also partnering with companies like Tata Steel to train and deploy skilled female mechanics, contributing to the industry's workforce diversity.
Reflecting on the performance of your company in the current year, what can you share?
We've experienced a growth of 10 to 12 per cent. Our focus is on value rather than market share, and in the premium segment, we hold a substantial market share. Looking ahead, we anticipate a 10 to 15 per cent year-on-year growth in the industry over the next four to five years. With the government's emphasis on infrastructure development, we are optimistic about the sector's future.
Considering the upcoming election year, do you foresee any impact on the industry's growth?
I don't believe elections will hamper growth. Recent state elections did not show any negative effects. This government prioritises development, and I anticipate increased spending on infrastructure during an election year, as seen in the last budget. In my view, it will be a positive year for the industry.
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