Schwing Stetter India Achieves Record Revenue of Over Rs 5,000 Crore in 2023 with 35% YoY Growth

Schwing Stetter India reports a record revenue exceeding Rs 5,000 crore in 2023, driven by a 35% YoY growth attributed to robust demand for construction equipment. The company, with a global presence and a commitment to diverse industries, unveils 31 new products at Excon 2023, positioning itself as a comprehensive solution provider in the construction sector.

Schwing Stetter India Achieves Record Revenue of Over Rs 5,000 Crore in 2023 with 35% YoY Growth
Schwing Setter manufacturing unit

Germany- Schwing Stetter (India) Private Limited, a concrete and construction equipment company, reported a revenue of over Rs 5,000 crore in the fiscal year 2023, marking a 35% year-over-year growth. The impressive performance is attributed to strategic measures and sustained demand for construction and concreting equipment machinery.

V. G. Sakthikumar, Managing Director and Chairman of Schwing Stetter India, said  that, "Demand for our construction and concreting equipment machinery has been increasing at a stellar rate since COVID-19; the record volumes over the years were possible because of the stimulus measures put in place by the Government of India (GoI) to boost infrastructure development in the country."

He added, "Also, we are bullish about the short- and long-term growth prospects for 2024; therefore, we have launched 31 new products for mining, shipping, and road and highway infrastructure industries, including port container handling, mining support, and road patching equipment, at Excon 2023. As we add more product categories due to robust demand, we will soon become a one-stop shop for customers in the construction industry"

Schwing Stetter (India) has taken significant strides to address the specific needs of various construction equipment subsegments in the country. The company's diverse product portfolio includes concrete pavers, aerial working platforms, all-terrain cranes, cold milling machines, crawler cranes, excavators, horizontal directional drilling, motor graders, rotary drilling rigs, tower cranes, truck cranes, and wheel loaders.

With manufacturing units in 12 countries, including Germany, Austria, the USA, Brazil, Russia, Ostrava, the UK, and India, Schwing Stetter is a global player. The company's international presence is further supported by sales and service centers in key locations such as France, the Netherlands, Austria, and Sweden, along with representations in over 150 countries worldwide.