~Chandigarh branch of Godrej Material Handling is growing at 15% CAGR since FY22 contributing 7% of the MHE business in the North
Delhi, 09th January 2024 (GNI): Godrej & Boyce, the flagship company of the Godrej Group, is making significant strides in expanding its footprint and market share in North India, with a special focus on the Chandigarh region. The Chandigarh branch of Godrej Material Handling, responsible for covering Jammu & Kashmir, Leh & Ladakh, Himachal Pradesh, Punjab, and parts of Haryana, has been on an impressive growth trajectory. With a robust CAGR of over 15% since FY22, the branch is poised to achieve revenues of more than INR 50 crores in FY24.
Chandigarh branch plays a vital role in Godrej Material Handling’s North region, contributing 6-7% of the total MHE business, and the North region as a whole accounts for 26% of the company’s business. Recently, Godrej Material Handling also announced the inauguration of a state-of-the-art dealership in Ludhiana, represented by its trusted partner, Viren Engineers. Ludhiana has emerged as a prominent destination for businesses looking to establish warehousing facilities.
North-India has attracted significant investments in various sectors including food processing, auto-ancillaries, pharmaceuticals, renewable energy, animal feed, and horticulture. Godrej Material Handling has been working with these companies to provide indigenous intralogistics solutions to help them with efficient and productive solutions to handle material to reduce the overall cost of intralogistics. Companies like Tata Steel, Jindal Steel, and Tafe are also making investments.
Commenting on this, Anil Lingayat, Executive Vice President & Business Head, Godrej Material Handling, Godrej & Boyce, “North is a key market for us owing to its rapid industrial expansion and development. Godrej Material Handling recognizes the evolving dynamics of the northern region, with a growing focus on e-commerce and retail warehousing. We are committed to providing innovative and sustainable solutions to address these shifting market needs. With a strong presence in North India and a customer-centric approach, we are positioned for continued success and growth in the material handling industry.”
In recent years, the strategic decision to shift toward electric forklifts, driven by their lower operating costs and the industry’s commitment to sustainability, has further propelled the demand for material handling equipment in the northern region. The company now commands more than 60% market share among domestic manufacturers of electric forklifts, positioning it as the go-to supplier in the region.
Godrej’s success in the north region is not only due to its quality products but also its unwavering commitment to after-sales support, a critical aspect of the Material Handling industry. The branch’s local presence extends to dealer offices in Ludhiana, Baddi (Himachal Pradesh), Jammu, and a resident team in Srinagar. Jammu region has witnessed investments from more than 200 companies after the abrogation of Article 370. The business plans to develop an office in Srinagar by FY25 to cater to the local Controlled Atmosphere (CA) Apple storage industry, where Godrej already enjoys a strong presence.
Godrej Material Handling’s dedication to north India’s industrial growth is pivotal in establishing this region as a key player in India’s manufacturing sector. With a range of advanced material handling products, Godrej & Boyce has always been at the forefront of making global technology viable for Indian customers.
About Godrej & Boyce: Godrej & Boyce (‘G&B’), a Godrej Group Company, was founded in 1897 and has contributed to India’s journey of self-reliance through manufacturing. G&B patented the world’s first springless lock and since then, has diversified into 14 businesses across various sectors from Security, Furniture, and Aerospace to Infrastructure and Defence. Godrej is one of India’s most trusted brands serving over 1.1bn customers worldwide daily. To learn more visit: www.godrej.com
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