Tata Hitachi strengthens product portfolio, aims at Rs 4,800-5,000 crore topline by FY24

Buoyant by growing mining and infrastructure sectors, construction equipment major Tata Hitachi is strengthening its product portfolio to achieve a topline of Rs 4,800-5,000 crore by the 2023-24 fiscal (FY24), a top company official said on July 26.

The company, which has a major manufacturing plant and R&D centres in West Bengal’s Kharagpur, clocked a revenue of around Rs 4,000 crore in the financial year 2021-22, despite subdued demand due to COVID-induced headwinds.

Now, demand has started picking up for construction equipment. Mining is performing better than the infrastructure segment. Targets for coal mining are very high in the wake of a shortage of the dry fuel in the country.

"The government’s aggressive road construction target of around 25,000 km in two years and about 22 green express highways will boost the heavy construction equipment industry," Tata Hitachi Construction Machinery Company Managing Director Sandeep Singh told.