Schwing Stetter India (SSI), the Indian arm of the German concrete construction equipment manufacturer, aims for a 20% increase in revenue for the calendar year 2025, driven by strong growth in the construction sector.
Speaking about the company’s prospects, Chairman and Managing Director V.G. Sakthikumar stated, “We expect to close 2024 with a 5% revenue growth, reaching ₹5,700 crore. Looking ahead to 2025, the booming construction industry should help us achieve a 20% increase, pushing revenue past ₹6,500 crore.”
Sakthikumar noted that demand for concrete construction equipment is set to rise in the coming months, with orders expected to surge from October as excavation work picks up after the monsoon and construction activities ramp up in the fourth quarter.
Schwing Stetter saw 10% growth in the first half of 2024, recording ₹3,300 crore in revenue. The second half of the year is expected to contribute an additional ₹2,400 crore, similar to last year’s performance. The company’s revenue grew to ₹5,450 crore in 2023, up from ₹3,939 crore in 2022.
Contrary to earlier concerns that the Parliamentary elections might slow the industry, Sakthikumar confirmed that no such impact was felt. “While there was minimal activity during the June-August 2024 period due to monsoon rains in the north, we anticipate strong growth in the final quarter, keeping us ahead of the market curve,” he said.
Regarding the company’s ongoing ₹100-crore expansion, Sakthikumar revealed that it is on track to be completed by March or April, with commercial production starting soon after. The new facilities will include a fabrication unit, an assembly line, and a paint shop, boosting production capacity.
Additionally, SSI will begin constructing a ₹350-crore greenfield project on 52 acres in Cheyyar starting in April 2025. The project will be developed in phases over two years, with preliminary work such as land development and tree transplantation already underway.
SSI currently exports its products to over 50 countries, and these exports are expected to contribute ₹300 crore to 2024’s revenue and around ₹500 crore in 2025. The company’s order book stands at ₹1,000 crore as of now.
