How has business been at L&T Construction & Mining Machinery this financial year? What have been the key highlights/milestones of your performance during the current year?
L&T registered a healthy growth across product categories ranging from 22% to 55% for two years during 2017-19. We saw the highest growth rate in the products related to road machinery and granite/marble/quarry. Besides, the new products launched saw a good debut and have been very well accepted by our customers. This helped us consolidate the manufacturing volumes in Komatsu, Scania and L&T manufacturing plants. While there has been a slowdown this year, we are very confident about a good recovery next year. We are working towards meeting the anticipated demand in the next few years and gearing up for the future.
This year, Komatsu introduced its new digitally-enabled 35-ton hydraulic excavator with advanced ICT Komtrax system – PC300LC-8M0 and PC350LC-M0 models. These products have a host of features with improvements in the engine to improve fuel efficiency, strengthened undercarriage and reinforced arm & boom. These models have already received acceptability in the earthwork, granite/ quarry/marble industry where customers are looking for efficient machines and higher profitability. Our road machinery business is doing well with our customers appreciating the fuel efficiency and high performance of our soil compactors, asphalt compactors, pneumatic tyred rollers and mini compactors manufactured by L&T Construction Equipment Ltd. (LTCEL). The introduction of new models such as hydraulic paver and skid steer loader holds good promise in the road sector and real estate development.
Also, the newly-launched Scania G440 new generation mining tipper has brought in several benefits to our customers like improved powertrain, cabin, body adaptation, brakes & enhanced safety features.
We also plan to improve product versatility by offering various new upgraded attachments on our rock breakers, demolition tools, tunnelling attachments, super long front attachment, amphibious undercarriages, etc. We are continuously upgrading our products to global standards and plan to launch new products with best-in-class technologies during EXCON.
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