In an engaging conversation between Rajesh Rajgor and Jalaj Gupta, Business Head of the Commercial Vehicles Business Unit at Mahindra & Mahindra Limited, the spotlight was on Mahindra’s offerings at EXCON 2023. Jalaj Gupta, started off with an update on his company’s product line-up at the show: “We have a bouquet of offerings, including our Blazo tipper range, Construct range, Furio range, Roadmaster, and the Bolero range.”
He highlighted the unveiling of Mahindra’s entire BS5 range of construction equipment, showcasing the company’s readiness for the upcoming BS5 regulations in India. Gupta elaborates: “We are unveiling the entire BS5 range of construction equipment, showcasing our readiness for the upcoming regulations in April 2024.”
A Glimpse into Innovation and Industry Leadership
Gupta emphasized Mahindra’s commitment to innovation, unveiling their mainstay backhoe loader and grader models in the BS5 variant, addressing the core of their sales portfolio. He continues, “The second highlight is our mainline bread and butter models, the backhoe loader, and grader models in the BS5 range. These models constitute a significant portion of our sales, and their unveiling reinforces our commitment to these core offerings.”
Discussing the truck and bus segment, Gupta reveals, “In the tipper range, we’re not just unveiling; we are launching the new mDURA tipper on the Blazo platform. This addresses a segment where we haven’t been as strong previously.”
Additionally, a unique concept took center stage, featuring a compact crane on the haulage tractor platform, presenting a versatile application with global potential, Gupta explains: “We are showcasing a compact crane on our haulage tractor platform. This has application potential not only in India but globally, opening up opportunities in various parts of the world.”
Adding another feather to their showcase, Gupta says is the meticulous product improvements, offering variations in tyre combinations and enhanced aggregates for improved efficiency and customer satisfaction in Furio 10, “Our product, Furio 10, is tailor-made for a mobile diesel Bowser with a 6-kilo-liter capacity. This is a strategic move to cater to the specific needs of customers, offering the right fit for a 6-kilo Bowser.”
360-Degree View on Growth, Market Share, and Segment Success
Reflecting on market demands, Gupta provides insights: “Our growth strategy involves improving our addressability, aiming to increase it from 50% to about 75% in the next 3 to 4 years. The products we showcase align with filling gaps in our product portfolio and addressing segments where we see potential disruptions.”
When asked about the market response, Gupta shares, “Our truck and bus division has grown by about 45% in the last three years, with a significant focus on improving our market share. Currently, our market share stands at 3.5%, up by 1 percentage point in the first eight months of this year.”
Discussing Mahindra’s standing in the grader segment, Gupta proudly states, “This fiscal year, Mahindra Construction Equipment is India’s number one grader company with a market share of 25.3%. This success is attributed to our diverse range, including the 75-horsepower road master showcased at the last Excon.”
Gupta sheds light on the road construction segment, saying, “We have witnessed substantial traction in rural road construction, and our grader range has played a pivotal role. This year, we anticipate a 20-25% growth in the grader industry, fueled by the government’s focus on road infrastructure, not just on national highways but also in tier two and tier three regions.”
Speaking about the RMC range, Gupta shares, “Our RMC product, the 7.5 cubic meter SCHWING Stetter India, features an upgraded air-cooled engine by Kirloskar, enhancing performance. Additionally, in the tipper range, we offer various configurations, improved aggregates, and a service guarantee, ensuring customer satisfaction.”
Tech Vision: iMAXX, Future Fuels, and Global Growth
Discussing Mahindra’s commitment to technology, Gupta says, “iMAXX technology is a standard fitment on all our construction equipment, providing benefits beyond traditional telematics. We’re taking IMAX to the next level by focusing on prognostics, alerting drivers about potential issues and enhancing overall operational efficiency for fleet owners.”
Regarding the future of alternate fuels in the construction equipment industry, Gupta offers insights: “Alternate fuels are on the horizon for construction equipment, but the timing remains uncertain. While the commercial vehicle industry is leading in adopting alternate fuels, construction equipment is likely to follow suit, but not immediately.”
Addressing Mahindra’s strategy, Gupta states, “Our immediate focus is on BS5 compliance and expanding applications for our existing platforms. We believe diesel will persist for at least a couple more years. Simultaneously, we’re prioritizing export markets, aiming to double our dealer network by 2027 and exploring opportunities in countries like Brazil and the Middle East.”
In concluding thoughts, Gupta emphasizes, “Our focus is on a balanced approach, catering to both domestic and export markets. As we evolve, the emphasis will shift to alternate fuels, with an eye on integrating emerging technologies to offer efficient and environmentally friendly solutions.”