Sany India eyes more than 3X growth in revenue to Rs 30,000 crore by 2030

Banking on the robust domestic market and export potential, construction equipment manufacturer Sany India has set a target of Rs 30,000 crore in annual revenue by the end of this decade, according to a senior company official. This represents more than three-fold growth in its topline from the current level.

“This year’s revenue will be close to Rs 8,000 crore, a growth of around 25% from last year (2023). Looking at the market, we are aiming for around 35% growth next year. By the end of the decade, we want to take it to Rs 30,000 crore,” Sany India’s Chief Operating Officer for Sales, Marketing & Customer Support Sanjay Saxena told Autocar Professional.

Sany India currently offers a wide range of products, including excavators, cranes, concrete mixers, batching plants, pumps, grading machines, pavers, milling machines, compactors, stackers, cranes for rail and ports, mining equipment, and wind turbines. It has around 42 dealers and 260 touch points across India. Saxena noted that the company will put equal focus on each vertical - earthmoving, lifting, foundation, mining, ports, concrete, and roads - going forward.

India is the third-largest market for construction equipment and the long-term prospects of industry look promising with the government’s continued focus on infrastructure development. With an ambition to make India a developed nation, the government is expected to make huge investments in mega infrastructure projects such as roads, ports, airports and railways. This on top of increasing urbanization and industrial development is likely to keep the demand for construction equipment strong.

Exports comprise 10-15% of Sany India’s total revenue. The company exports its telehandlers and excavators to countries in North America, Africa, the Middle East and South Asia. Besides the two equipment, Sany India plans to introduce more products, such as soil compactors, in the export markets. Saxena said the company is targeting to increase its exports to 1,600 machines from the current 1,000 machines next year.

Last year, the company’s Managing Director Deepak Garg told Autocar Professional that Sany India has lined an investment of Rs 1,000 crore to enhance its manufacturing capacity in the Pune plant. Saxena noted that the company has now expanded its annual production capacity to 12,000 machines units from around 6,000 machines.

“We have doubled our capacity this year. We have doubled our shed area from 56,000 square meters. We have expanded the workshop area as well. Now all these will be utilized. Further expansion will be done based on the requirements,” he added.

Meanwhile, the company is also focusing on boosting the localisation of all major products such as excavators, crams, and mining dumpers. Sany India's products are currently localized to an average of 30-35%. The company is working towards increasing this to 50%.