HomeIndiaConstruction equipment maker Tata Hitachi upbeat on growth

Construction equipment maker Tata Hitachi upbeat on growth

The push is sure to result in good traction for the equipment and improve the market going forward

The push is sure to result in good traction for the equipment and improve the market going forward

Construction equipment maker Tata Hitachi is upbeat about the growth prospects in the backdrop of the Centre’s emphasis on rapid infrastructure development, especially as the government has proposed an investment of Rs 110 lakh crore on National Infrastructure Pipeline (NIP) projects.

The push is sure to result in good traction for the devices and improve the market going forward. “We have already seen good improvement in the last few years and expect an average of 10-15% in the coming years. [revenue] development,” said Sandeep Singh, Managing Director, Tata Hitachi Construction Machinery Company.

Speaking at the Hyderabad launch of the 5-tonne wheel loader ZW225, which the company described as a Made-in-India product with Japanese technology, Mr. Singh said there has been an increase in the demand for the machines after the impact of the pandemic. . Chinese manufacturers of equipment continue to face challenges, rising costs and resorting to a price war.

Their pricing is more than 20% lower, he told media queries on the impact of competition from Chinese firms. On input cost, he said sharp rise in steel and commodity prices since last year is affecting margins. In the last financial year, Tata Hitachi had a turnover of around ₹4,000 crore and was eyeing 15% growth this year.

Mining excavators, wheel loaders and backhoe loaders are the three main product segments of the company, which has manufacturing facilities in Dharwad and Kharagpur. He added that the new 5-ton wheel loader ZW225 is primarily targeted at the coal and cement industries. The company aims to sell 40-50 machines this year, each worth ₹1 crore.

On expansion plans, Mr Singh said the company is investing around ₹250 crore every year for capital expenditure, mainly on new products and additional facilities or changes to the plant. It has no plans for any other plant as the installed capacity of 11,000 machines is enough to meet the future demand. The company’s production is about 8,000 machines annually.

Author
Authorhttps://searchnews.in
Hello Friends, My Name is Raushan Kumar. I am a Part-Time Blogger and Student. I am author of https://searchnews.in . We're dedicated to providing you the best of News, with a focus on Business, Health, Lifestyle, World, Tech, India, Gadget.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

- Advertisment -