Bajaj Indef nearly crosses the Annual Turnover of FY 2021-22 in Three Quarters of the Financial Year 2022-23
Bajaj Indef team, led by Chairman Shri Shekhar Bajaj, the senior management and esteemed board members
New Delhi [India], February 11: Hercules Hoists Limited, popularly known as Bajaj Indef, which has been leading the national market in hoisting solutions, has crossed 96% of sales numbers of FY 2021-22 in the first 9 months of FY 2022-23. Additionally, the company’s Profit Before Tax has increased by 74%, also the sales has witnessed a sharp growth of 29% in the quarter ended in Dec’22 compared to the quarter ended in Dec ’21.
To top it up, Bajaj Indef has marked a current YTD December’22 growth of 28% in sales and 22% in Profit Before Tax in contrast to the YTD December’21 figures. The remarkable growth in numbers achieved is a result of the company’s focus on:
– Growth in the core business of Hoist
– Growth in the Cranes Business
– Expansion into exports market
– Focus on customer-centric approach
– 360 Degree Marketing Activities
– Building a Learning organisation
The growth in the core business is largely due to strengthened partnership with its distributors and increasing the width and depth of distribution. Focused approach to build win-win partnerships and offering solutions that are techno-commercial fit to the customer needs. The trust of customers in Bajaj Indef product is unmatchable and key driver for growth in the core business of hoists.
Extending the offer to the market and same customer segments with a relevant and strategic extension into Cranes business, is another step in the direction of growth for Bajaj Indef. To fuel the growth of the company’s crane business, Bajaj Indef invested in the three times larger production facility equipped with latest technology and equipment. Along with that, the company has also onboarded highly experienced industry professionals from the segment.
For expanding beyond boundaries, the company with its emphasis on expanding the global market reach has also successfully identified and appointed renowned partners in the Middle East & Africa, Bangladesh, and Nepal regions as the authorised business partners that has strengthened its presence in exports and contributed to the business growth.
Another key area of development is the brand’s laser focus on customer centric approach. They have focused on establishing a strong relationship with the key customers as well as strengthening the relationship with some of their old clients. At the same time, company has identified need gaps of the customers and launched new products like Indef C, Indef R in Chain Pulley Blocks segment and Indef Powered Crane Kits that have helped gain incremental business.
Increased focus in marketing activities through both online as well as offline channels has been another contributor to this business growth. The company has strengthened its digital presence by launching a revamped website with new look & feel, richer content and user experience as well as increased focus on performance marketing. They have also participated in industry exhibitions, conducted seminars, offline promotions to increase the visibility and reach among the customer base.
All these kept aside, the company has been focusing on learning and skill development of its employees through multiple trainings and workshops facilitated by industry experts. The same efforts is being put in developing the knowledge and skills of its channel partners too.
Since, the production facilities at Khalapur and Chakan are fully stable and operational and have sufficient capacity to support growth for next decade, Bajaj Indef decided to sell its old vacant Mulund land. The recent sale of Bajaj Indef’s 8327 sq. meter manufacturing land in Mumbai to Arkade Group for total consideration of Rs. 90 crores is a noteworthy event for the company. This sale is a testament to the company’s ability to focus on core business and successfully monetize its assets and make profitable business decisions. Following the chain of successful trials, the company aims to focus on growth and is dedicated to emerge as the global one-stop solution provider for all material handling requirements.
Bajaj Indef currently offers a diverse range of Chain Pully Blocks, Electric Chain Hoists, Wire Rope Hoists, Cranes, and Storage & Retrieval Systems etc. All the products are of international design and quality standards. The certifications like ISO, CE and ATEX are testament to the kind of quality the brand offers to its customers.
You can visit www.indef.com for more details about the company.
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