Ajax Engineering, a producer of concrete equipment, announced a 100 crore investment to build its fifth manufacturing plant in Bengaluru. Ajax Engineering anticipates having a portion of the project operational by the end of next year. The company also plans to create revenues of 3,000 crore by 2026, according to Shubhabrata Saha, the recently recruited MD and CEO of Ajax Engineering.
“We expect to end FY23 with a revenue turnover of around ₹1,000 crore. The scaling of revenues will come from our core domestic and export businesses. Currently, our exports are to the tune of about ₹50 crore and we expect them to go up by three times in the next three-four years,” said Saha.
According to the company, its products are well-suited to cover geographies such as the Middle East, Africa, and South and Southeast Asia, and it expects to grow in these markets. “We will also consider acquisitions in international markets, which would add another ₹1,000 crore to our business,” he added.
In addition to its self-loading concrete mixers category, Saha said that there is a great opportunity for scaling up the batching plant business in the coming years. The company also has an innovation pipeline in development.
