Mumbai (Maharashtra) [India], May 27: With great enthusiasm and a resounding sense of achievement, Bajaj Indef unveils its financial accomplishments for the fiscal year 22-23. The company proudly announces revenue of INR 168 crores which is a significant increase from the revenue of INR 87 crores in FY 20-21. The company highlighted that this achievement is built upon the strong foundation established in the preceding two years.
Moreover, the profit before tax of Bajaj Indef stands at INR 116 crores in FY 22-23, a notable improvement from INR 9.55 crores in FY 21-22. The profit before tax figure of FY22-23 includes INR 86 crores generated from the sale of their Mulund land. Excluding this exceptional profit, the company achieved an operational profit of INR 30 crores in FY 22-23, which is three times the operational profit of FY 20-21. This accomplishment represents a significant step towards realizing Vision 500 of achieving a turnover of INR 500 crores by the fiscal year 26-27.
The remarkable success story of Bajaj Indef over the past two years underscores their unwavering commitment to excellence and customer-centricity. Under the leadership of President & CEO Mr Amit Bhalla, the company has not only weathered challenges but has also soared to new heights, surpassing all expectations. Bajaj Indef expresses gratitude to its customers for their unwavering support and trust in the brand and its offerings.
The driving force behind the company's exponential growth has been a strategic focus on strengthening its core business, expanding its product portfolio, increasing market reach, and fostering deeper customer connections. By aligning with industry trends, Bajaj Indef has expanded its product offerings and consistently delivered solutions that meet and exceed the evolving needs of its valued customers. Additionally, the company is working towards further expanding its product portfolio to become the go-to solution for all in-plant unitized industrial material handling requirements.
The growth of Bajaj Indef's crane business serves as a shining example of its dedication to innovation and progress. They achieved record-breaking sales of over 100 cranes and crane kits in the previous year, which is a testament to their capabilities and the trust customers place in their brand. This success is a direct result of investments made in a significantly larger crane manufacturing facility, showcasing the company's risk-taking abilities and commitment to long-term growth plans. This growth in the crane segment has not only boosted their market share but has also become a key driver of their substantial revenue growth.
Furthermore, the company has intensified its focus on a customer-centric approach, cementing strong relationships with key customers and strengthening bonds with longstanding clients.
Operational excellence has played a pivotal role in Bajaj Indef's success. By optimizing the Cost of Goods Sold (COGS) and improving margins, the company has fortified its financial position while remaining competitive in a fiercely competitive market.
Bajaj Indef has embarked on a strategic expansion, establishing new partnerships, appointing new Authorized Business Partners (ABPs), and venturing into unexplored territories. By embracing opportunities that align with their vision, they have broadened their reach and extended their impact, solidifying their presence not only in India but also in the global market.
Moreover, the company has rejuvenated its marketing efforts to maintain a prominent position in the industry. Through a robust digital presence and offline marketing activities, they have enhanced visibility and expanded their customer base.
At the core of Bajaj Indef's, the company considers that success lies in the unwavering support and collaboration of their Authorized Business Partners (ABPs), Supplier Partners, and Employees. The company also recognizes that its achievements are the result of collective effort and has introduced programs to engage, appreciate, and empower its stakeholders.
To honour and celebrate the exceptional dedication and collaboration of their esteemed ABPs, Bajaj Indef has unveiled the Elevate Elite Club--a platform designed to acknowledge their outstanding contributions. This platform fosters engagement, co-creation, and mutual acknowledgement of achievements.
Additionally, the company launched Amplify, a program dedicated to aligning the vision of its supplier partners with long-term objectives. Amplify emphasizes on the significance of effective communication, exemplary performance, and enduring relationships, enabling Bajaj Indef and its supplier partners to leverage collective strengths for mutual success.
Bajaj Indef firmly believes that its people are its greatest asset, and nurturing a culture of engagement and empowerment has been crucial to its journey towards success. By attracting and retaining top-tier talent, they have built a team of industry experts whose collective expertise has been the driving force behind their exceptional results. The unwavering dedication of their employees, coupled with their relentless pursuit of excellence, has been instrumental in propelling the company to extraordinary heights. To ensure the motivation and best performance of their team, Bajaj Indef has implemented various initiatives benchmarked with the industry standards, including 360° benefits, a new performance management system, rewards and recognition programs, and training programs conducted by industry experts.
As the company moves forward, they wish to remain steadfast in their commitment to delivering excellence, driving innovation, and surpassing even greater milestones. They express deep gratitude to their customers, authorized business partners, suppliers, employees, and shareholders for being integral parts of their remarkable journey. The company cherishes the trust and support continuously placed in Bajaj Indef.
Here's to their collective success and a future brimming with infinite possibilities!
(Disclaimer: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)