In a significant stride towards industry leadership, Schwing Stetter India reported a record-breaking revenue exceeding Rs 5,000 crore in 2023. The company attributes this stellar financial performance to its strategic focus on research and development, long-term growth plans, and portfolio expansion across key industries and markets.
V G Sakthikumar, Managing Director and Chairman of Schwing Stetter India, emphasized the surge in demand for construction and concreting equipment since the onset of COVID-19. He credited the record volumes to the proactive stimulus measures implemented by the Government of India to boost infrastructure development in the country.
Speaking optimistically about the future, Sakthikumar stated, “Demand for our construction and concreting equipment machinery has been increasing at a stellar rate since COVID-19; the record volumes over the years were possible because of the stimulus measures put in place by the Government of India (GoI) to boost infrastructure development in the country. Also, we are bullish about the short and long-term growth prospects for 2024 – therefore, we have launched 31 new products for mining, shipping, and road & highway infrastructure industries, including port container handling, mining support, and road patching equipment at Excon 2023. As we add more product categories due to robust demand, we will soon become a one-stop shop for customers in the construction industry.”
Excon 2023 served as the stage for Schwing Stetter India to display over 70 machines, showcasing its commitment to innovation and sustainability. The company reiterated its dedication to reducing CO2 emissions in the environment, aligning its operations with eco-friendly practices.
The impressive showcase at Excon 2023 and the remarkable financial performance in 2023 solidify Schwing Stetter India’s position as an industry leader. With a strategic focus on comprehensive solutions, sustainability, and innovation, the company is poised for continued success in India’s evolving infrastructure development landscape.