MARKET and BUSINESS ANALYSIS :JULY-AUGUST 2024 ISSUE

Fosroc India Inaugurates its New Integrated Construction Chemicals Plant in Hyderabad 20 years of X20

Market &

Business Analysis www.marketandbusinessanalysis.com

Atlas Copco Specialty Rental Division: A Comprehensive Overview of Services, Market Insights, and Growth Strategies in India

Volume:15 Issue: 04, July-August 2024 US $18 MAHENG/2012/41268 www.timesinternational.in

Vedanta Chairman Shri Anil Agarwal meets Odisha CM Shri Mohan Charan Majhi

Unite to Propel State's Industrial and Socio-Economic

Growth

MARKET AND BUSINESS ANALYSIS INTERNATIONAL MAGAZINE FOR BUSINESS LEADERS Editorial

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Odisha CM and Vedanta Chairman discuss shared vision to accelerate the state'sindustrial and socio-economic growth

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Lots of action for the body & paint industry

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Digitisation And Artificial Intelligence

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New 5-Layer R-Pod Flex Line

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Innovative 8-Micron 35% PCR Stretch Film

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FLUX GmbH Sponsors Technology University of Munich DASH Exoskeleton Team

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Coal India celebrates World Environment Day2024

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Sony India Launches XS-162GS and XS-160GS Car Speakers

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Esconet Technologies Limited Reports Strong Financial Performance in Fy24

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Renewable Functional Fillers for next-generation rubber flooring

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Elqi Equipments Limited - Fourth Quarter & FY 2023-24 Results

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Fosroc India Inaugurates its New Integrated Construction Chemicals Plant in Hyderabad

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RAK Ceramics Unveils Cutting-Edge, 8500-square-feet Experience Centre in Bengaluru

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ZYOD Raises $18 Mn in Series A Funding, Led by RTP Global with Returning Investor Lightspeed

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20 years of X20

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Atlas Copco Specialty Rental Division: A Comprehensive Overview of Services, Market Insights, and Growth Strategies in India

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Market and Business Analysis

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World Oil Market Prospects for the Second Half of 2024

editor-in-chief Prakash kinny contributor

The global oil market in the second half of 2024 presents a cautiously optimistic outlook, driven by steady economic growth and shifts in monetary policies.

The global economy is projected to grow by 2.8% in 2024 and 2.9% in 2025, supported by robust non-OECD economies and potential accelerations in major OECD countries . Oil demand is forecasted to increase by an average of 2.3 million barrels per day (mb/d) year-on-year in the latter half of 2024, with total demand reaching 104.5 mb/d for the year.

Thomas Chang circulation Noel Rodrigues administration

K Abraham accounts Ramesh Jain photography Tony Fernandes Retail Price : Rs. 180.00

The expected demand growth is underpinned by a rebound in air travel, strong road mobility, and industrial activities, particularly in non-OECD regions like China and India. However, demand for diesel and naphtha may be tempered by economic and manufacturing slowdowns and declining petrochemical margins . On the supply side, non-DoC liquids production is anticipated to rise by 1.2 mb/d in 2024, driven by the US, Canada, Brazil, and Norway.

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Overall, the oil market's trajectory in the latter half of 2024 hinges on the interplay between global economic conditions and sector-specific developments, with a balanced outlook supported by both demand and supply dynamics.

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India, Pakistan, Bangladesh, Srilanka, Vietnam, Indonesia, Thailand, China, HongKong, USA, Germany, Spain, Italy, U.K. & France

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July-August 2024

COVER STORY Vedanta Chairman Shri Anil Agarwal meets Odisha Chief Minister Shri Mohan Charan Majhi Odisha CM and Vedanta Chairman discuss shared vision to accelerate the state's industrial and socio-economic growth

Shri Anil Agarwal, Chairman, Vedanta Group, continue to thrive, driving the state to greater met Shri Mohan Charan Majhi, the newly- heights.” appointed Hon’ble Chief Minister of Odisha, to Vedanta Group has made significant investments extend his congratulations on the formation of the in Odisha, amounting to more than INR 1,00,000 new government and to discuss the ongoing and crore. This is the conglomerate’s largest ever future development of the state. investment anywhere in the world. These investments have led to the establishment of the During the meeting, Mr. Agarwal reiterated world’s largest integrated aluminium smelter Vedanta Group’s unwavering commitment to plant at Jharsuguda with a capacity of 1.8 MTPA Odisha's progress. The discussion focused on and a world-class alumina refinery at Lanjigarh in identifying new areas of collaboration that could Kalahandi district with a capacity of 3.5 MTPA. further accelerate Odisha's transformative Through these initiatives, the group has created journey, enhancing the state's industrial and socio- more than one lakh direct and indirect jobs, bringing prosperity to remote areas, and economic development. integrating local communities into the socioExpressing his confidence in the new economic mainstream. government’s vision and leadership, Mr. Anil Agarwal, Chairman, Vedanta Group, said, During his previous visit to the state during Make “Odisha's remarkable growth is a testament to the in Odisha 2022, Shri Agarwal had announced new sheer hard work and commitment of its people. investments worth more than INR 25,000 crore The state has been crucial to Vedanta's success, for expanding Vedanta’s aluminium, ferrochrome and we remain dedicated to its sustainable and and mining businesses in the state. inclusive development.

Beyond business, Vedanta’s community My meeting with Shri Majhi Ji was highly development initiatives span livelihood, productive, and we discussed our shared vision education, healthcare, infrastructure, grassroots for Odisha's growth. Under his capable sports and culture, benefiting more than 4.5 lakh leadership, our longstanding partnership will people across 500 villages in Odisha.

Market and Business Analysis

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TECHNOLOGY Lots of action for the body & paint industry

From 10 to 14 September 2024, Automechanika panels with international representatives from in Frankfurt has a lot to offer for professionals in leading paint manufacturers and key players from the body & paint sector: Lectures on repairing the bodywork industry will discuss the global electric vehicles, practical workshops and live development of the collision repair business. At painting, a lounge for expert meetings, an after- ‘Schadentalk’, decision-makers from the work event on Friday, many presentations on the collision repair market will once again discuss topic of classic cars, including selected show cars. changes in the industry. The traditional talk on Automechanika fans can now choose one of the Friday will be extended this year by socalled vehicles themselves in an online vote. The choice ‘Schadenspots’. Finally, the paint manufacturers, who are back at Automechanika after a 20-year is between four models. break, will be exhibiting right next to the stage. " Tr a i n i n g a n d f u r t h e r e d u c a t i o n , t h e The business of classic and collectible cars also t r a n s f o r m a t i o n o f t h e i n d u s t r y a n d has a definite place in the stage programme. In a emotionalisation are core themes that we have panel discussion, for example, young defined for the entire Automechanika brand with entrepreneurs will talk about visions, new 14 trade fairs worldwide. In Frankfurt, this business models and their passion for historic concept is clearly reflected in Hall 11. Over the vehicles. Professor Wolfgang Henseler, past few months, the team has worked with Managing Creative Director at the Sensory Minds industry insiders from the sector and the media to agency, will explain how classic cars can become create a diverse and varied programme on highly an investment through tokens and Andy topical themes," says Michael Johannes, Vice Schwietzer from PS.Speicher will talk about President Mobility & Logistics, Messe Frankfurt. historic motorbikes as an investment. Finally, Tobias Reichle and Florian Urbitsch, Managing Central stage in Hall 11.1 Directors of ‘Nationales Automuseum The Loh Collection’, will explain how they made The body and paint industry is particularly Friedhelm Loh's world-class collection accessible interested in the topic of electromobility. In this context, two experts will give presentations on the to the public. Eve Scheer, presenter, actress and technical challenges and additional costs of racing driver, will lead through the entire stage repairing high-voltage drives. Furthermore, two programme in the hall.

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July-August 2024

TECHNOLOGY Digitisation And Artificial Intelligence

Classy AI is a new approach of SACMI to quality control. Apart of the SACMI Computer Vision systems CVs suite, Classy AI automatically classifies defects, making it much easier to run plants and perform process control.

At NPE 2024 show (Orlando, FL, USA), SACMI machine malfunction or process drift, operators can exhibited a range of solutions based on human- simply 'ask Gilda to obtain prompt, customized AImachine interaction including new controls, digital powered answers to their queries, opening the door to artificial intelligence applied to industrial machines. tools and AI. Switching to "future-proof" technologies in the The primary goal of digitally advanced controls is to segment of presses for caps and preforms, SACMI protect the customer's investment by making it easier propose CCM64 cap press and IPS 300 preform press. for operators to manage SACMI machines and plants In addition to advanced controls and integration with thanks to the 'digital inside' technology based on three quality control – IPS is currently the only press to incorporate a vision system, the PVS156 by SACMI solutions.

Computer Vision, directly on the machine – the latest Smart Pack 2 is the latest advanced control package, solutions also offer the prospect of working with fully available from 2024 on SACMI CCM cap presses. The recycled materials. For example, the CCM can be fed goal is deep control of everything on the machines, with HDPE from food-grade PCR. The solution can be from hydraulics to consumption, giving systems "self- fed with 100% rPET. adjustment" capabilities and feeding valuable functional info back to process control. Another fresh As regards the transition to the 26/22 mm neck-cap, feature for 2024 is the 'prediction' button on the press: SACMI showcased an enhanced solution that takes this forecasts machine behavior over time, anticipating necks towards the 26/22 mm standard. Guaranteed, any production drifts and expediting proactive thanks to SACMI's close collaboration with major international certification bodies, Cetie included, and maintenance. profitable because, thanks to its skilled Lab team, Smart Care is an exclusive service available on SACMI provides customers with close support to SACMI machines that provides secure in-cloud identify the solution that best matches their production sharing of the main operating parameters; it ensures requirements while factoring in consumption habits optimal decision-making on the line and feeds for individual segments, countries or markets. At customers real-time suggestions and assistance from present, SACMI offers the market's largest family of caps for 26/22 mm necks, with plenty of opportunities the SACMI team. on the tethered front too. The IPS on display at NPE Sticking to artificial intelligence, Gilda AI is a was equipped with a 96-cavity SACMI mold to pioneering chatbot-like tool leading the way towards a produce a 11.5g preform with a cycle time of 6.6 new human-machine ecosystem. In the event of a seconds.

Market and Business Analysis

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TECHNOLOGY New 5-Layer R-Pod Flex Line

On the occasion of the NPE show (Orlando, FL, The line running throughout the NPE show had USA), MACCHI displayed a 5-layer R-POD Flex the following features: blown film line representing the latest evolution • extruders configuration 65/65/105/65/65 of the innovative POD Flex system (dedicated to • continuous flow hydraulic screen changers polyolefin), specifically designed for very high • triple flow air ring with integrated automatic productivity and for the use of "secondary" raw profile control system • wax drainage system materials (regenerated/recycled).

• frost line scanner The 5-layer R-POD Flex line is conceived for • smoke suction system on bubble guide sustainable films featuring reduced thickness, • Centro Freeze supporting basket with cooling perfect sealing and excellent optical and function mechanical properties. This new technology • Bo Plus double-station automatic winder allows extremely rapid job changes and, at the • Recotrim inline system for side trim recovery same time, minimizes production waste. Thanks • MACCHI IoT digital solution to perform OEE to the introduction of important developments monitoring, breakdown analytics, predictive both from the technological and automation point maintenance, and to verifyproduction efficiency of view, it is simple to switch from high-capacity in real time productions for lamination films, to recycled • MACCHI WIS (Web Inspection System) for film defects mapping. material productions for industrial packaging.

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July-August 2024

TECHNOLOGY Innovative 8-Micron 35% PCR Stretch Film

COLINES and ExxonMobil recently unveiled an This collaboration highlighted the extreme versatility innovative low-thickness High Tenacity Hand Wrap of COLINES' ALLrollEX lines for the extrusion of stretch film. The ALLrollEX lines also feature an in(HTHW) film. line edge folding system, making them ideal for the This new product boasts an ultra-thin thickness of 8 production of high PCR content films for automatic microns and contains 35% post-consumer recycled machines use. Additionally, the lines are equipped with (PCR) material. Designed for both manual use and AI (Artificial Intelligence) technology through the automatic machines (up 50-100% pre-stretch), the Virtual Production Assistant MASTERMIND by film showed exceptional quality and excellent retain COLINES, that helps you in the daily running of your extrusion line by automating the most time-consuming force characteristics. operations without the need for human intervention.

The film's formula was developed by ExxonMobil in To further enhance continuous production, ALLrollEX collaboration with COLINES R&D department, using lines can be equipped with continuous filter, allowing uninterrupted operation without the need to stop for innovative raw materials such as Enable 1617. filter replacement.

Market and Business Analysis

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BUSINESS NEWS FLUX GmbH Sponsors Technology University of Munich DASH Exoskeleton Team

FLUX GmbH (FLUX), a high-precision encoder “We are proud to support the next-generation of company, has announced sponsorship of the engineers at the Technology University of Munich Technology University of Munich's DASH working on such a meaningful project,” said Paul student initiative developing and building lower- Tutzu, Managing Director & Founder of FLUX GmbH. “We wish the team all the best for their limb exoskeletons for fully paraplegic patients. developments and look forward to seeing the end The DASH team, made up of bachelor, master and result at CYBATHLON 2024.”

PhD students, plans to compete with its exoskeleton at CYBATHLON 2024, a FLUX designs and makes high performance groundbreaking event organized by ETH Zürich encoders for precise measurement of position and celebrating the latest advancements in assistance velocity within closed loop motion control technologies. This year's event takes place from systems. FLUX encoders differ from 25-27 October. conventional measuring principles by delivering the best of all worlds in one encoder. Outstanding FLUX has provided the DASH team with a range performance in harsh environments, excellent of lightweight and compact inductive rotary precision, and a lightweight and compact form encoders which will be used to provide precision factor. position and speed feedback in the joints of the exoskeleton.

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July-August 2024

BUSINESS NEWS

Coal India celebrates World Environment Day2024

World Environment Day 2024 celebrations were Shri Mukesh Agrawal, Director (Finance), Coal held at Coal India corporate office with Chairman, India, and Shri Brajesh Kumar Tripathy, Chief Coal India Shri P.M. Prasad hoisting the Vigilance Officer, Coal India were present on the Environment Flag, and administering the occasion.

Environment Day pledge to the employees.

Shri Prasad speaking on the occasion highlighted Shri Vinay Ranjan, Director (P&IR), Coal India, the company's commitment to environment Dr. B. Veera Reddy, Director (Technical), Coal sustainability. He emphasized that as a India, Shri Debasish Nanda, Director (Business responsible corporate, Coal India must work Development), Coal India, Shri Mukesh diligently to nurture Nature for a green and Choudhary, Director (Marketing), Coal India, sustainable future.

Market and Business Analysis

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BUSINESS NEWS Sony India Launches XS-162GS and XS-160GS Car Speakers Specially Tuned for India Offering an Exceptional Audio Experience · Foam rubber surround: The woofer surround material is made of foam rubber, manufactured with an air-filled matrix structure that is light-weight and durable, providing optimal damping characteristics for responsive bass notes. · Silk soft dome tweeter: Based on technology developed for our premium speaker designs, the softdome tweeter boasts a flat frequency response and wider dispersion. In addition, its silk diaphragm contributes to natural and smooth sound with good internal loss. · Dynamic air diffuser: The integrated Dynamic Air Diffuser ensures efficient air circulation for smooth cone travel and cooling of the voice coil. · Progressive height rate spider: The acoustically optimised spider allows for higher power Sony India launches XS-162GS and handling and airflow, with a profile designed for more XS-160GS car speakers rapid and precise cushioning of the speaker cone.

Sony India unveiled the latest additions to the · Easy installation: The smaller tweeter chassis automotive sound revolution, the XS-162GS and XS- and shallow woofer basket decrease physical 160GS car speakers. Engineered for those craving an interference with factory grilles, enabling easy auditory upgrade from their factory car audio, the new installation in a wider variety of vehicles.

GS line-up promises a transformative journey with its · Phase plug (XS-162GS Only): The resonance finely tuned acoustics. damping phase plug on the woofer helps realise the ideal frequency response, right up to the crossover point The XS-162GS offers 16 cm (6½”) 2-way component with the matched tweeters. speakers, while the XS-160GS presents 16 cm (6½”) 2Supplied tweeter mounts/ adaptors (XSway coaxial speakers. Crafted with precision, these · 162GS Only): The newly designed angle mounts and speakers boast features like composite polypropylene surface mount adaptors assure flexible installation in cone woofer for rich bass, foam rubber surround for various types of vehicles for best acoustic results. responsive notes, and silk soft dome tweeter for natural · In-line crossover networks (XS-162GS sound dispersion.

Only): The in-line crossover networks enable easy Sony India's commitment to sustainability shines wiring realising installation in a wider variety of through with eco-conscious packaging and reduced ink vehicles. usage, reflecting their dedication to environmental Environment in mind responsibility.

Sony's products are not only designed to be stylish but The XS-162GS and XS-160GS car speakers are also with the environment in mind. For the GS line-up specially tuned for India and tailored to cater to the individual packaging, 98% of the cushions are made of preferences and needs of the Indian market. With a peak paper materials, and compared to the prior model, power of 350W and an RMS of 60W, both models offer printed information has been carefully considered for enhanced clarity and powerful audio output with clear simplicity and length to reduce printer ink usage by approximately 90%, reflecting Sony's commitment to sound reproduction. reducing environmental impact.

Key Features of XS-162GS and XS-160GS Availability Speakers: · Composite polypropylene cone woofer: The new line-up is available at select car dealers across Optimally designed polypropylene diaphragm gives India.

Model Best Buy (in INR) Availability Date deep bass while suppressed peaks and dips in the mid and high frequency smooth integration with the tweeter.

XS-162GS Rs.16,990/Available Now XS-160GS

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Rs.12,990/-

Available Now

July-August 2024

Esconet Technologies Limited Reports Strong Financial Performance in Fy24 HIGHLIGHTS:

Ÿ Revenues from operations rose by an impressive 45.23% to Rs 137.48 crore inFY24, compared to Rs 94.66 crore in FY23. Ÿ EBITDA increased by a substantial 53.01% to Rs 9.74 crore, up from Rs 6.36crore in the previous fiscal year. Ÿ Profit after tax (PAT) grew by 74.88% to Rs.5.30 crore in FY24, up from Rs.3.03crore in FY23 Ÿ The company's shares were listed on NSE Emerge on February 23, 2024, anddebuted with an impressive premium of 245%. Esconet raised Rs.28.22 crore forfunding growth capex and working capital.

Esconet Technologies Limited, a leading PAT for the full year stood at Rs.5.43 crore, up by homegrown integrated IT solutions company, 79.21% from Rs.3.03 over the previous announced its financial results for H2FY24 and corresponding period.

Fy24.

Commenting on the results, Mr. Santosh Kumar Esconet Technologies reported a 45.23% rise in Agrawal, Managing Director, Esconet revenues from operations to Rs 137.48 crore, Technologies Ltd, said, "We are delighted to compared to Rs 94.66 crore in FY23. EBITDA report robust financial performance for FY24. increased by a substantial 53.01% to Rs.9.74 crore The significant growth in our revenues and in FY24, up from Rs.6.36 crore in the operating profit underscores the success of our strategic initiatives and the strong demand for our corresponding previous fiscal year.

IT infrastructure and cloud computing solutions.

In H2FY24, the company's revenue from Despite the challenges in the first half of the year, operations declined to Rs 66.20 crore, down from our team's dedication and our innovative Rs 71.28 crore in H1FY24, representing a approach have positioned us well for sustained decrease of around 7.13%. The decline in revenue growth. We are well poised to exceed Rs.300 crore is primarily attributed to the nearby General revenues by March 2026 and remain committed to Elections, which slightly impacted the company's delivering long-term value to our stakeholders." operations during this period. EBITDA in H2FY24 was Rs.4.53 crore down from Rs.5.20 The company had successfully raised capital crore in H1FY24, PAT was Rs.2.25 crore through an initial public offering (IPO) of 33,60,000 equity shares (fresh issue) with a face compared to Rs.3.04 crore in H1FY24. value of Rs 10 each at an issue price of Rs 84 per On a consolidated basis, revenue from operations share, including a premium of Rs 74 per share, registered a growth of 48.48% to Rs.140.55 crore aggregating to Rs 28.22 crore. The equity shares in FY24 from Rs.94.66 crore in FY23. EBITDA in of Esconet Technologies Limited were listed on FY24 grew by 60.56% to Rs.10.22 crore from the National Stock Exchange of India Limited Rs.6.36 crore. The company reported an EBITDA Small and Medium Exchange (NSE Emerge) on margin of 7.27% in FY24, an improvement of 55 February 23, 2024. basis points from 6.72% over the previous year.

Market and Business Analysis

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BUSINESS NEWS UPM to supply Artigo with UPM BioMotionTM Renewable Functional Fillers for next-generation rubber flooring Artigo, an international rubber flooring company, Artigo will achieve a renewable content share of will produce their next-generation flooring up to 30% of the total weightof the new products collections from 2025 with UPM BioMotion™ thanks to the addition of UPM BioMotion™ RFF. Renewable Functional Fillers (RFF). By Its flooring collections contain post-industrial incorporating UPM Biochemicals' RFF, Artigo recovered and consumer recycled material, and has achieved CO2 footprint savings of up to 0.5 kg also other renewable-based components CO2e/sq. meter and managed to reduce the weight alongside UPM's RFF making Artigo a clear sustainability front runner. by up to 5% per square meter flooring.

UPM BioMotion™ RFF are a CO2-negative “The collaboration with a global partner like solution for diverse rubber and plastic Artigo highlights the exciting potential for applications, containing 100% renewable carbon, renewable carbon-based solutions, like our UPM certified by DIN CERTCO, which is sourced from BioMotion™ RFF, to help product manufacturers sustainably managed forests. They support carbon reduce their CO2 footprint in major industries, like footprint improvements by enabling flooring building and construction. This key milestone in manufacturers to increase their share of the commercialization of our RFF in the market renewable materials in products and reduce the highlights the possibilities for many more use of traditional highly CO2-intensive fillers, applications to benefit from their unique such as precipitated silica, and other fossil-carbon combination of sustainability and technical based raw materials. RFFs deliver the same benefits,” said Christian Hübsch, Sales Director technical performance as precipitated silica in at UPM Biochemicals. aiding flooring durability and elasticity, with the added benefit of being up to one third lighter.

UPM's BioMotion™ RFF are among several CO2negative solutions2 set to be produced at UPM's Michele Andolfo, Chief Operating Officer, Leuna facility. The company is investing EUR Artigo, commented: “UPM's innovative 1,180 million to build the world's first industrial BioMotion™ Renewable Functional Fillers scale biorefinery in Leuna that will convert extend the opportunities we have to improve the sustainably sourced, certified hardwood into next sustainability and technical performance of generation biochemicals – enabling the vital shift Artigo and Mondo flooring by reducing the CO₂ away from fossil-based to renewable materials footprint and achieving weight reductions. Both across a wide range of industries. The Leuna are key benefits in achieving products suited to the biorefinery is part of a broader growth area, UPM Biorefining, which is scaling refineries to produce needs of contemporary architecture.” a variety of renewa ble fuels and chemicals made from sustainable biomass.

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July-August 2024

BUSINESS NEWS Elqi Equipments Limited - Fourth Quarter & FY 2023-24 Results Elgi Equipments Ltd, manufacturer of Air and profitability. The Australian business grew Compressors, announced the results for the fourth and we could achieve marginal improvements in quarter and for the financial year ended 31st other South East Asian markets. The US March, 2024. Consolidated sales for the fourth operations have recovered from the setbacks quarter was Rs.866 Crores as against Rs.836 caused by the ERP implementation. Europe grew Crores in the corresponding quarter in 2022-23. despite softening of demand.

Consolidated sales for the whole financial year was Rs.3218 Crores. Consolidated PAT for the The automotive business grew on the back of a quarter was Rs.76.3 Crores, compared to Rs.92.6 strong automotive sector growth as well as Crores in the same period in 2022-23(excluding expansion of opportunities in recycling of extraordinary income). Consolidated PAT for the automobiles. financial year was Rs.311.9 Crore,compared to Rs.293.3 Crores in 2022-23 (excluding The Board recommended a dividend of Re2per share (200%) for approval of the shareholders. extraordinary income)).

The Board also approved a capital expenditure of The standalone sales for whole financial year was Rs 254.70 Crs for creating necessary Rs.1843 Crores compared to Rs.1757 Crores in infrastructure for enhancing production capacity, 2022-23. The standalone PAT for the fourth amongst others. quarter was Rs.92.6 Crores compared to Rs.80.6 Crores in the same period in 2022-23. The Outlook for Q-1, FY 2024-25 standalone PAT for the year was Rs.322.2 Crores The Company will continue to grow in all markets it is present in, and the profitability is expected to compared to Rs.272.5 Crores in 2022-23. be good. The automotive business is expected to India and, Middle East delivered strong growth grow in tandem with the industry.

MARKET AND BUSINESS ANALYSIS September-October issue features Advancements in Automation: Latest in robotics and AI. Innovative Business Models: New ways of doing business.

Energy and Sustainability: Renewable energy trends.

Healthcare Innovations: Advances in medical tech.

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Market and Business Analysis

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BUSINESS NEWS Fosroc India Inaugurates its New Integrated Construction Chemicals Plant in Hyderabad

Fosroc newly inaugurated plant in Hyderabad Bengaluru Headquartered Fosroc India inaugurated its new Integrated Construction Chemicals Plant in Fosroc manage the complete Concrete Life Cycle.

Hyderabad on 25th May 2024. Fosroc's latest · Working with cement and concrete producers manufacturing facility will enhance Fosroc's when cement/concrete is born – giving it strength and geographical coverage and service levels particularly endurance with cement grinding aids and concrete for customers in South and Central India. admixtures. · Working with contractors on site when The Plant was inaugurated by Dr. James M. Hay, concrete grows up – protecting concrete with grouts, Mrs. Fitriani Hay, JMH Group & Mr. Rob Bonnici, waterproofing, coatings, sealants and flooring CEO JMH Group in the presence of a gathering of products.

Business partners, customers, vendors, service · Servicing when concrete grows old with an providers, contractors, consultants and Fosroc extensive range of repair and strengthening products. management and employees.

Fosroc India provides solutions to all sectors of the Fosroc India construction industry, specializing in solutions for the Fosroc India has 44 years of pioneering experience in construction of buildings, industrial & Infrastructure India, providing Constructive Solutions, serving its facilities, power plants, Metro and general rail customers in the construction industry across the network, Defense, and to all types of transportation country and supported by manufacturing facilities in and civil infrastructure.

Bangalore (Karnataka), Ankleshwar (Gujarat), Kolkata (West Bengal) Keshwana, (Rajasthan) and Fosroc India also hosts Fosroc's Group Technology now in Hyderabad (Telengana).

Development facility located in Bangalore under the name Fosroc Technology Centre with state of the art Fosroc has a well-established network of sales and laboratories and a team of dedicated Scientists marketing offices in all metropolitan areas and leading pioneering product development and innovation. cities in India, supported by regional technical service specialists, Mix design and Specification experts, and Given the increasing demand for sustainable and development laboratories. Fosroc's corporate and durable quality infrastructure in India, it is expected registered offices are based in Bangalore. that the Construction and associated industries will witness impressive growth over the next decade.

Fosroc India is a 100% privately owned subsidiary of Fosroc India's growing manufacturing footprint is a Fosroc International Limited UK, a division of JMH confirmation of Fosroc Group's commitment to Group with over 70 years of experience worldwide. It customers in India. was the first multinational company dedicated to the construction industry in India.

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July-August 2024

BUSINESS NEWS RAK Ceramics Unveils Cutting-Edge, 8500-square-feet Experience Centre in Bengaluru

RAK Ceramics, a global leader in ceramics, has innovation and inspiration. At RAK Ceramics, we unveiled its cutting-edge, spacious 8500-square-feet believe in pushing boundaries, and this Centre is a Experience Centre in Bengaluru, which makes it one testament to our commitment to revolutionizing of the biggest spaces in Karnataka. This unique space, interior design. We look forward to welcoming visitors inaugurated by Anil K Beejawat, CEO of RAK and empowering them to realize their design dreams.”

Ceramics India, is not just a showroom but a hub of innovation and inspiration. It redefines how customers interact with premium design solutions, offering a RAK Ceramics' rich legacy of excellence extends beyond its products to its involvement in prestigious truly immersive experience. projects across India and beyond. The brand's recent The Experience Centre is a complete tile lifestyle endeavors include the Ayodhya project's pilgrim center and a testament to RAK Ceramics' facility, further solidifying the brand's reputation for commitment to innovation and Quality craftsmanship. quality and reliability. From iconic landmarks like the It follows the aesthetic look and guidelines of Kashi Vishwanath temple complex to vital international standards and Proudly showcases RAK's infrastructure such as airports and educational flagship offering, Luce, a translucent tile masterpiece institutions, RAK Ceramics has been a trusted partner meticulously crafted using unique and high-quality in shaping India's landscape. clays and feldspars. Its exceptional features, including a pure white body and advanced ink development, set With cutting-edge manufacturing facilities in Samalkot, Andhra Pradesh, and joint venture plants in it apart in the market.

Morbi, Gujarat, RAK Ceramics is poised for continued Spanning an impressive 8500 square feet, the growth and innovation. The company's global Experience Centre in Bangalore's prime locality offers footprint encompasses renowned projects such as visitors proper parking facilities and a comprehensive Wembley Stadium, journey through RAK Ceramics' extensive product range. The showroom showcases the brand's offerings, Atlantis—The Palm, and the Burj Khalifa, from Barefoot tiles to Sanitary ware, an extensive underscoring its status as one of the largest ceramic product range of SUT tiles (Super utility tiles), faucets, and kitchen sinks. It also features a display center for brands worldwide.

German-made KLUDI and UAE-made KLUDI RAK products, enhancing the customer experience with Looking ahead, RAK Ceramics remains steadfast in its commitment to delivering excellence and forging new world-class fittings. partnerships that redefine interior design standards Speaking about this, Anil K Beejawat, CEO of RAK Ceramics India, said, “With this one-of-a-kind and architectural innovation. Our unwavering Experience Centre in Bengaluru, we are showcasing dedication to quality and innovation is what sets us products and inviting customers into a world of apart in the industry.

Market and Business Analysis

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BUSINESS NEWS ZYOD Raises $18 Mn in Series A Funding, Led by RTP Global with Returning Investor Lightspeed ~Alteria Capital, Stride Ventures, Stride One, and Trifecta Capital also participated in the funding round~

ZYOD, a tech-enabled fashion manufacturing countries, democratizing and simplifying fashion platform offering seamless solutions from design sourcing for a broader spectrum of brands. to delivery,has secured USD 18 Million in its ZYOD with its forward-looking approach and Series A round of funding. This investment round sustainable business model will continue to was led by RTP Global and also saw participation embrace the rise of fast fashion globally. The from existing investors Lightspeed and Alteria company is modularizing fashion styles, using Capital and new investors Stride Ventures, Stride data to boost efficiency, and employs smart ERP solutions to optimize and scale its supply chain.

One, and Trifecta Capital.

Through these strategies, ZYOD is setting a new With the vision of taking 'India to the world', standard in international apparel manufacturing.

ZYOD will leverage the new funding to grow its operations across more than 40 countries. The On the successful fundraise, Ankit Jaipuria, company aims to navigate through a new phase of Co-founder of ZYOD said, "The fresh round of growth, focusing on technological advancements funding underscores the strong support and and talent acquisition, while continuing to disrupt confidence in ZYOD's vision to revolutionize the global fashion manufacturing industry. With this India's apparel manufacturing ecosystem. funding we will continue to collaborate closely ZYOD raised USD 3.5 million in the previous with local hand picked manufacturers, leveraging seed funding round which was led by Lightspeed. our deep expertise in manufacturing to unlock a Over the past year, the company has positioned new phase of growth. Our focus will remain on itself as a leading player in the Business-to- tech advancements, bringing in more talent and Business fashion manufacturing ecosystem, continuing to transform India's apparel while serving over 350 customers across 18+ manufacturing ecosystem."

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BUSINESS NEWS

"The trust that our investors have placed in us is a technological innovation who are redefining testament to our objective of becoming the leading industries. ZYOD leverages tech to refine every one-stop solution for apparel manufacturing in facet of the production process, right from a modular design approach to optimizing India and the world," he added.

RiteshKhandelwal, Co-founder of ZYO Dalso operations at the factory level. We are excited to expressed his excitement on the fundraise and s u p p o r t Z Y O D a s t h e y e x p a n d t h e i r said, "With this new milestone, ZYOD has transformative platform internationally, uniquely positioned itself as a leading player in s h o w c a s i n g t h e p o t e n t i a l o f I n d i a n the fashion industry worldwide. Our proposition entrepreneurship on the global stage". of providing 5X faster sourcing enables global brands to source high-quality clothes with Rahul Taneja, Partner, Lightspeed said, "We're unmatched speed in a rapidly changing industry. delighted to double down on our partnership with With our flexible MOQs, we empower brands, ZYOD. In the last 15 months, the team has served retailers and wholesalers to test new markets customers over 18 countries by establishing an while avoiding the risk of high bulk orders, agile supply chain that enables customers to thereby making their businesses more reduce their inventory dramatically. Their global network is expanding rapidly and we are excited sustainable. about this next phase of growth."

Looking ahead, we aim to double our customer Since its inception in 2023, ZYOD has garnered base, introduce 100,000 unique designs every recognition for its seamless solutions, among month catering to a global audience and keep fashion brands worldwide. The brand has been streamlining the overall supply chain in the sector innovating to stay ahead of the industry trends." by addressing gaps like lack of transparency, and Nishit Garg, Partner on RTP Global's Asia high order quantities, in the unorganized fashion investment team, said, "At RTP Global, we manufacturing space. champion visionary founders at the forefront of Market and Business Analysis

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BUSINESS NEWS 20 years of X20

20 years in control with X20

The X20 system has been an essential component requirements, the X20 System family makes it of countless industrial applications for the last 20 possible to combine the exact components years, providing dependable performance and necessary. The X20 system is extremely compact, pushing productivity to unprecedented levels. The has a large selection of modules, and its 3-slice X20 has transformed industrial automation with design makes it very easy to wire and maintain. its small size and potent features, enabling Marking 20 years of reliability and epitome of machines all around the world to function excellency, B&R Industrial Automation marks accurately and effectively. Its innovative this milestone with customers and partners for technology and sturdy design have continuously their trust and support. Here's, 20 years of success, outperformed expectations, making it the innovation, and unparalleled performance with preferred option for machine manufacturers in a the B&R X20 system. variety of sectors.

Source: B&R Industrial Automation (A member The thoughtful details and sophisticated of the ABB Group) | Pune ergonomic design make the X20 System is a Email: marketing.in@br-automation.com complete control solution. Depending on the Tel: 020 41478999 user's demands and individual application Website: www.br-automation.com 32

July-August 2024

BUSINESS NEWS Atlas Copco Specialty Rental Division: A Comprehensive Overview of Services, Market Insights, and Growth Strategies in India Mr. Mukesh Sharma, Country Manager of Atlas Copco Specialty Rental Division in India

Introduction to Atlas Copco Specialty Rental with a fleet of 20 +MW. Division: Could you please provide an overview of the 2. India Market Overview: services offered by Atlas Copco Specialty Rental Ÿ From Atlas Copco Rental's standpoint, Division in India? what is your assessment of the current rental Atlas Copco Specialty rental provides service market in India?

Equipment's for Oil free air, On site Nitrogen We are a specialty rental company, though the Generation, Steam Generation, and power on general rental market is currently unorganized, Temporary and long-term Rental. with no player having a significant presence Our customers choose us during Planned across the country, it Fragmented and scattered in Contingencies and Emergencies, we also provide nature. Indian rental market can be defined as tailored services according to Specialty solutions Polypoly market - A situation where you don't needed by our Industry. We see an emerging trend have one or two large sellers but many small ones. for customers taking our services for variable This unorganized nature of rental industry is solutions. holding back industry from, Innovation and Ÿ How has Atlas Copco Specialty Rental Safety Standards, service standards lag global evolved since its inception in India in 2007? counterparts.

Atlas Copco group has always been ahead of the curve when it comes to innovation culture and Ÿ What key trends and opportunities do you vision for the future. Rental has been a historic see in the Indian rental service market over the service within the group we did our first ever next few years? rental project in the year 1964 in South Africa, Rental business models is an emerging trend in the Similalrly in India we have been catering to our Indian industrial sector, New business models like customers temporary needs and in the year 2007 Pay Per Use and Pay Per Outcome are offering Creation of the Specialty Rental division was companies to focus on their core activities. Rapid done for dedicated focus towards these services. technological advancements and market We started our journey with a small depot in unpredictability drive the need for flexible utility Bhiwandi with one Technology since then we scaling. This trend indicates growing acceptance have been educating industry and growing and a promising future for rental services in India. organically today, we are present across India,

Market and Business Analysis

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BUSINESS NEWS enhancing overall business resilience.

3. Business Growth Strategies: Ÿ What are the primary growth strategies However, it's important to note that deciding that Atlas Copco Rental is implementing to between renting and buying is not always straightforward. It's advisable to consult with a expand its footprint in India?

Atlas Copco Rental is focusing on customer needs rental expert before making such a crucial by expanding across India with satellite depots. decision. There's a tipping point where renting We're investing in digital infrastructure to support becomes more advantageous than purchasing, new models like Pay per Outcome, adapting depending on specific operational needs and efficiently and effectively to our customers financial considerations. A rental expert can provide guidance on when it makes sense to rent demand for Variable Rental solutions. equipment to maximize benefits and minimize risks. Ÿ Could you share the future road map for Atlas Copco Rental in India, including any Ÿ How do rental services help businesses upcoming projects or expansions?

In the near future, our Bengaluru depot will manage seasonal peak demands and unexpected commence operations. We're seeing increasing equipment failures? interest in our BOOM (Build Own Operate Rental services offer businesses flexibility to Maintain) services from customers. Additionally, manage seasonal peak demands and unexpected we're launching into the Heating and Cooling equipment failures effectively. Companies can quickly scale up or down their equipment usage sector, starting with Rental Steam Boilers based on fluctuating market demand, without committing to long-term ownership. This agility 4. Benefits of Rental Services: minimizes downtime during peak periods and Ÿ What are the key benefits of opting for rental services over purchasing equipment, mitigates the impact of unexpected equipment especially for industries like Manufacturing, failures, ensuring continuity of operations and Mining, Oil & Gas, Power & Plants, and maintaining productivity levels.

Offshore?

5. Challenges in the Rental Service Market: What are the major challenges currently Opting for rental services over purchasing Ÿ faced by the rental service market in India? equipment offers numerous benefits, especially in Outlook of the market is positive; The Overall industries like Manufacturing, Mining, Oil & Gas, policy thrust may not change much with no major Power Plants, and Offshore. In today's unpredictable market environment, agility is headwinds Specialty rental has different crucial for operational success and financial challenges. To name a few - Limited market stability. Renting allows companies to react awareness about benefits rental services which quickly to changing market and economic limits Rental penetration in market. Logistics and conditions, adopting new technologies faster for Infrastructure hinder efficient delivery and return greater reliability, efficiency, and performance. It of rental fleet. Cultural factor - like traditionally enables fine-tuning of capacity according to Industry is still inclined towards Ownership cyclical and unexpected fluctuations, optimizing mindset, which is changing at a fast pace, but still not many companies are going asset light operations for maximum efficiency. currently by estimates our rental penetration is in Additionally, rental services provide peace of single digits unlike 50% to 90% rental penetration mind by offering fully optimized and expertly for some equipment's in developed economies. designed solutions. Companies benefit from Another good problem for us to have been supply eliminating the risk and liability of potential downtime, supported by value-added logistics, chain issues with increasing rental demand we maintenance, and operational support provided by need more fleet and people which are in always in rental partners. This shifts the burden of shortage. responsibility from the company to the rental provider, ensuring operational continuity and

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BUSINESS NEWS Ÿ How is Atlas Copco addressing these other rental service providers? challenges through service innovation and Our Organisation and systems are designed to strategic initiatives? cater emergencies. This is largely possible We are driving several initiatives to educate because of our passionate and well-trained Industry by collaborating with industry experienced team - adept at handling emergencies associations and leveraging digital platforms for and technical anomalies, depending on their broader reach. Not just Atlas Copco Specialty e x p e r t i s e o f e a c h s p e c i f i c p r o d u c t .

Rental but even the Indian Market is self-realising With our proven track record customers trust us how important is to go asset light in this because of our special people, also because we are everchanging market demands in this volatile OEM, and we have specialized fleet for such world. To overcome Logistics related challenges, complex applications. Being available 24x7 and we are going close to our customers by setting up promptly responding to the customer requests has Satellite depots across India. We are nurturing also proved to be very important. Another reason young talent and generating employment we are a preferred service partner, is the fulfilment opportunities within our limited capacity by of our commitment backed up by very large rental imparting training to young engineers and fleet. With our knowledgeable and qualified technicians. We are proud to be an employee service engineers, we can restore customer friendly organization and our work culture and operations delivering satisfactory solutions well people centric policies are helping us to attract within the committed time. Our wide-spread skilled personnel. We're addressing some of our geographical network across India also acts in our operational challenges by innovating and using advantage, where we can quickly deploy service technology. Gradually more and more of our manpower and assistance. rental fleet is now digitally connected and we've set up an uptime center to monitor our equipment 7. Tailor-Made Total Solutions: on-site, which helps us optimize our service Ÿ How does Atlas Copco Specialty Rental operations. customize its solutions to meet the specific needs of different industries?

6. 24/7 Support and Emergency Services: Ÿ Could you provide examples of unique Ÿ Can you elaborate on the 24/7 support and specialized rental fleets, such as air services offered by Atlas Copco Specialty Rental compressors, power generators, nitrogen in case of emergencies and breakdowns? generation, dryers, dewatering pumps, and steam Atlas Copco Specialty Rental has always been at generators, and how they are utilized in various the forefront, be it agility, quality, or service. With sectors? customers always in focus, we don't just Over 150 years of research, development and understand the shifting market demands of the testing against the real-life industries and industry but also the importance of emergencies environmental conditions of over 140 countries in and breakdowns. When the installed equipment every corner of the earth. Atlas Copco specialty breaks down unexpectedly, Atlas Copco Specialty Rental India is ready with the World class, state of Rental goes to great lengths to limit the impact on the art diverse fleet to suit many applications. your business. Whether you need air, power, Onshore or offshore. Oil lubricated or oil-free air, steam, nitrogen, flow, or any combination, we can nitrogen, power, or steam... Machines or their get the processes up and running in no time! We accessories. We have a wide range of rental fleet are a 24x7, 365-day-available entity. This is comprising of our inhouse legacy products because a breakdown can happen at any time. But designed and built only for rental to name a few we have set a number of crucial steps to achieve PTE 900 VSD, PTS 800, PTS 1600, PTE1500, this agility. This makes the service division one of PNS1250 and High-pressure boosters which are the core strengths of Atlas Copco Specialty our legacy products. Other than that, we highly Rental. have energy efficient diverse fleet to suit many applications. Our Zone 2 air compressors are Ÿ How do these support services add value designed to operate in Hazardous environment. to your clients and differentiate Atlas Copco from Our Modular approach and ability to provide end Market and Business Analysis

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BUSINESS NEWS to end solutions with all the related accessories, receiving undivided attention from the we are highly competent to provide turn key and Government for developing crucial policies that total solutions to our customers in any industrial would ensure strict adherence to time and quality, segments. Whatever the business requires, it maintaining high standards, and offering worldmight be time to consider our Total Rental class infrastructure.

Solutions.

Though equipment renting is still in a growing phase and accounts for 6-8% of the overall construction equipment market, there are many 8. Client Success Stories: Ÿ Are there any notable success stories or indications that there is soon going to be a turning case studies from clients who have benefited point in this data. significantly from Atlas Copco's rental services?

How is Atlas Copco Specialty Rental The nature of our business is such that our Ÿ specialty rental services come into picture only to preparing to adapt and thrive in the evolving rescue our customers. Every order we cater to is a market landscape? success story in itself. Few of the note worthy ones In a world marked by constant and radical change, which makes us proud are catering to nation success no longer can be measured in rupees, during the pandemic by supporting our customers dollars, or euros. As the world is becoming more to produce more oxygen, ventilators, and complex, our customers will be facing more s a f e g u a r d i n g p r o d u c t i o n o f v a c c i n e s . challenges. In today's VUCA world business is we are often a part to build and maintain our becoming Uncertain and unpredictable due to nation's mega infrastructure projects. For eg. geopolitical situation, climate change and World's biggest refinery changing demand. Rental India is prepared to h t t p s : / / w w w . a t l a s c o p c o . c o m / e n - offer variable solutions to our customer to be more in/rental/news/atlas-copco-rental-india-helping- agile and resilient in the face of uncertainty. Our one-of-the-worlds-biggest-refinery-increase- variable solutions for Air, Steam and Nitrogen through our New business model BOOM will be a efficiency h t t p s : / / w w w . a t l a s c o p c o . c o m / e n - game changer. As Atlas Copco Specialty Rental we solve complex industrial challenges with in/rental/news/atlas-copco-linde-project Ÿ How do these success stories reflect the specialized agile solutions. Our new strategy impact and reliability of Atlas Copco's rental supports the foundation for this future growth.

More than 1000 passionate Specialty Rental solutions?

We create history every day and we are on the people worldwide are continuously designing and mission to save the planet by our sustainable implementing best new ways to solve complex industrial challenges, every day. rental solutions.

10. Additional Insights: 9. Future Outlook: Is there any additional information or Ÿ What are your predictions for the future of Ÿ insights you would like to share about Atlas the rental service market in India?

Copco Specialty Rental Division's vision and With our wide presence and investment in cuttingedge technologies like chillers, boilers etc., we are mission in India? confident and optimistic about the future for Vision: To remain the world's most trusted partner, solving complex industrial challenges Rental in the Indian market.

This largely comes from our past growth and the with specialized agile solutions. Designed and fact that India is seen as the fastest-growing implemented by passionatepeople who economy in the world and is on its way to continually strive for new best ways. becoming the third-largest construction market Mission: Our Mission is to continuously globally. Infrastructure sectoris a key driver for develop and deliver specialized agile solutions. the economy as it is this sector that is confident in propelling India's overall development and is

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