Schwing Stetter India eyes doubling exports in CY24
The Hindu
Schwing Stetter India plans to double export turnover to ₹400 crore by 2024, aiming for double-digit growth.
Concrete construction equipment manufacturer Schwing Stetter India (SSI) plans to double its export turnover to ₹400 crore for the calendar year 2024 and achieve double-digit growth in the next few years, said a top company official.
“We will be ending CY23 with a 67% growth in exports to ₹200 crore and we are aiming to double it to ₹400 crore for the following year,” said MD and Chairman V.G. Sakthikumar during an interaction.
According to him, the company has on-hand export orders valued at ₹200 crore to be executed over the next six months.
The company exports products to more than 50 countries. Currently, exports account for 4% of the total turnover and it might touch double-digit figure in the next couple of years.
SSI, meanwhile, is likely to end CY23 with a turnover of ₹5,353 crore against ₹3,945 crore registered in the year-earlier period, with a year-on-year growth of 36%.
“While the industry grew by 15%, we grew by 2.5 times. In fact, most of the construction equipment manufacturers have now reached the pre-COVID peak sales volume of 2018, whereas, we are ahead of the curve and have been growing at brisk pace for the last three years,” he said.
CBIT and Customs clarify that reports on GST rate hike are premature and speculative, pending final recommendations from GoM.
Titan's Tanishq aims for double-digit growth in diamond jewelry sales in India, partnering with De Beers for promotion.
Sensex and Nifty rise for third day, led by blue-chip stocks; global markets show firm trends.
Digital Naukri is the fourth prize challenge by The/Nudge Institute in a series of grand challenges that focus on scalable solutions for complex livelihood challenges, ensuring urgency and a sharp focus on supporting the vulnerable segments of society.
Rupee hits all-time low against US dollar due to Trump's tariff threat, geopolitical tensions, and foreign outflows.
Stay informed with the latest updates from The Hindu’s updates on Sensex and Nifty
RBI reports significant decline in circulation of ₹2,000 banknotes since withdrawal announcement in May 2023.
The United States on Monday launched its third big crackdown in three years on China’s semiconductor industry.
Intel CEO Pat Gelsinger has retired, the struggling chipmaker said Monday.
Bangladesh reduces power purchase from Adani due to lower winter demand and payment disputes, facing mounting dues.
Škoda Auto India introduces the Kylaq SUV with four variants, starting at ₹7.89 lakh, promising a game-changing customer experience.