AJAX Engineering to invest 1000 million in new facility

01 Jan 2023

Manufacturer of concrete equipment Ajax Engineering announced a 100 crore investment to build its fifth manufacturing plant in Bengaluru, with plans for a portion of the facility to be operational by the end of the year. Shubhabrata Saha, the organization's newly appointed MD and CEO, has stated that the company's sales target for 2026 is 30,000 million.

"We anticipate having a revenue turnover of roughly $10 billion at the end of FY23. Our primary local and export companies will be responsible for the scaling of revenues. We expect our exports, which are currently around 500 million, to increase by three times over the next three to four years," added Saha.

The company hopes to grow in these markets because it believes its goods are ideally suited to cover regions including the Middle East, Africa, and South and Southeast Asia. We will also consider international acquisitions, which would boost our revenue by another $10 billion, he continued.

In the upcoming years, Saha claimed that there is a significant possibility to scale up the batching plant business in addition to its category of self-loading concrete mixers. The business is currently developing an innovation pipeline.

The size of the Indian market for concrete equipment is between 50,000 and 60,000 million. We think that the infrastructure story will be extremely important if the nation intends to grow its economy significantly over the next 20 years. We are optimistic that we will meet our sales objective in this scenario because the size of this market could increase to Rs. 80,000 million in a few years, according to Saha.

Saha spent more than two decades at Mahindra & Mahindra in a variety of leadership positions prior to his most recent position. He was Mahindra's CEO of the Farm Division during his previous assignment. Nearly 553 direct employees and another 330 indirect employees work for the company. It currently has four manufacturing plants in Bengaluru and boasts a market share of more than 70% in the nation while claiming to be a pioneer in self-loading concrete mixers.

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