Godrej & Boyce Targets 50% Revenue Growth in Material Handling Business

Godrej & Boyce aims for 50% revenue growth in its material handling equipment (MHE) business over the next 2-3 years. The company will start production at a new facility in Khalapur by 2024 and has introduced a new Lithium-ion battery-powered forklift with an indigenous Battery Management System.

Godrej & Boyce, the flagship firm of Godrej Group, is targeting a 50% increase in revenue from its material handling equipment (MHE) business within the next 2-3 years.

The company's new facility in Khalapur, Maharashtra, will begin production by the end of 2024. In addition, a new Lithium-ion battery-powered forklift truck featuring an indigenously developed Battery Management System (BMS) has been launched.

The initiative supports the 'Make in India' vision, aiming for 100% localization of the cells by next year.