JCB India's sales grow 40%
By Mike Hayes20 March 2017
Construction equipment manufacturer JCB India said it sold 26,500 machines in 2016.
The impressive sales volumes – 40% higher than in 2015 – are just 500 short of the number sold in 2011.
The firm said its uplift is largely due to the Indian government’s increased spending on transport infrastructure – particularly on roads and highways.
JCB India’s revenues for the year stand at around INR8,000 crore (US$1.2 billion), with exports contributing approximately 20% to the total.
Vipin Sondhi, the company’s MD and CEO, said the sums the government has earmarked for infrastructure development indicate growth in that sector will proceed at between 10 and 11% in the current quarter.
He said, “This is a bit of a concern. Given the scope of the infrastructure sector in the country, it should have grown more."
On the back of recent results, JCB India is now said to be realigning its marketing and outreach efforts to brand itself as a ‘road solutions’ company, to take advantage of the growth in the sector.