Schwing Stetter betting big on growth

Even as Covid-19 induced disruptions brought down the construction equipment (CE) industry by around 8 percent during FY21, Schwing Stetter (India) on its part witnessed nearly 67 percent jump in its revenues to Rs 2560 crore during the same period on back of new and update launches, capacity expansion and aggressive expansion of its sales & service network. In terms of volumes, the growth jumped by 52 percent indicating its dominant position indicative of its strong hold in several product segments and categories. 

Schwing Stetter (India), a 100 percent subsidiary of the Schwing Group of companies GmbH, caters to concrete preparation, placement, transportation and recycling. It manufactures concrete batching plants, concrete placing booms, concrete pumps, concrete truck mixers for transporting readymade concrete to construction sites, concrete truck mixers with concrete pumps, concrete recycling plants, plastering pumps, self-loading mixers and sludge pumps.

VG Sakthikumar, Managing Director, Schwing Stetter (India) during an interaction with Autocar Professional at the Excon 2021 held in Bengaluru last month said, “Normally I don’t talk about such numbers in public though he would like to indicate the escalating path his company is taking currently despite the hindwinds facing the industry”. He added that the growth trend is likely to improve even further in current and coming years as India, which is considered the third largest CE market in the world, has a strong lineup of development projects ahead including the Rs 111 lakh crore National Infrastructure Pipeline (NIP). The CE industry is expected to reach a size of $25 billion by 2030, he added. “Normally I don’t talk about such numbers in public though he would like to indicate the escalating path his company is taking currently despite the hindwinds facing the industry”. 

Schwing Stetter over the past year introduced a range of hybrid/bio fuel products to meet the demand from such customers including 14 at Excon, South Asia largest trade fair for construction equipment industry. It has also partnered with KOEL & Mahindra for using Biodiesel (B7) which means 7 percent of bio-diesel for use in its CEV-IV Engines which it claims will help its customers in reducing the Total Cost of Ownership (TCO) of the product in addition to helping in lowering the pollution levels at the construction sites.