The growth is now reassuring specifically after a 58% drop in first quarter of 2021-22.
S. Sakthi Kumar Managing Director – India OEM, ITR Industries How do you assess the growth prospects of undercarriage parts in the CE space and how does the demand-supply scenario of undercarriage parts
– S. Sakthi Kumar
Managing Director – India OEM, ITR Industries
How do you assess the growth prospects of undercarriage parts in the CE space and how does the demand-supply scenario of undercarriage parts look like?
CE Industry reported sales degrowth of 23% for the third quarter of 2021-22 on year on year basis. In –fact the 2nd Quarter (2021-22) sales showed growth of 6% compared to the previous year 2nd quarter. The Construction Industry is now recovering with strong activity in ports, metros and airports which is aiding the demand in-spite of the pandemic crisis. The growth expected to be 5 to 10 percent this year 2022 and the demand growth will continue for 2023 and expect decline pre and post General Election scheduled during April – May 2024.
What are the emerging trends in the undercarriage parts segment? What are the innovative solutions from the company in this space?
‘Build India’ momentum to counter the economic slowdown paving the approach for more localization which averts a colossal upsurge of inverse migration more importantly focus remain on supply side to revive the growth.
What are the after-sales support initiatives for undercarriage parts from your stable?
Strong reputation is established in after market with the presence of few demonstrated spares dealers across the country which guarantees that the demand is met with shorter lead time to make sure the machine the stoppage for want of parts is avoided
What are the present challenges and future outlook / roadmap for undercarriage parts?
The incessant upsurge seen in raw material price across the globe has toughly affected the business apart from supply chain problem and it is a perineal problem to overcome to sustain in the business. However, bearing in mind the product quality and the long association with proven track record, customers have moderately shared our burden on pricing issues owing to the steep rise in raw material price which helps us to continue our business relationships.
Any additional information that you would like to share to add value to the readers.
The growth is now reassuring specifically after a 58% drop in first quarter of 2021-22. The whole industry is supported the statement of Gati Shakti Yojana by Prime Minister (driven by seven engines: Roads, railways, Airports, Ports, Mass Transport, Waterways and Logistics Infrastructure) and it will be a game changer as far as Infrastructure development is concerned.
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