To meet growing consumer demand for rental equipment,Godrej & Boyce will invest `100-croresin its Material Handling Business.
Godrej & Boyce, the flagship company of theGodrej Group, has announced that its business Godrej RenTRUST, a leading playerin the material handling rental industry, has planned to invest `100-croresin capital assets over the next three years. This strategic move comes as thecompany foresees a significant surge in material handling requirements acrossthe country.
In Q4 of FY23, Godrej RenTRUST secured ordersdeploying 100+ units of equipment to esteemed clients across multipleindustries, such as shipping, 3PL, ecommerce, FMCG, manufacturing and F&B, demonstratingthe company's commitment to long-term partnerships. With a strong belief in thepotential of the rental market, Godrej RenTRUST aims to cater to the evolvingneeds of industries including auto, engineering, chemicals and pharma, F&B,FMCG, logistics, 3PL, ecommerce and retail.
Commenting on this, Anil Lingayat, Executive VPand Business Head, Godrej Material Handling, says, “We are thrilled to announceour investment of `100-crores in capital assets for GodrejRenTRUST, reflecting our strong belief in the rising demand for materialhandling solutions across the country. At Godrej RenTRUST, our focus is onempowering businesses to thrive by providing flexible rental options thateliminate high upfront costs and offer optimal equipment tailored to theirspecific needs. By delivering transparent rental contracts, exceptionalservice, and hassle-free maintenance, we aim to enhance our customers'productivity, drive operational efficiencies, and enable them to stay ahead intoday's competitive landscape. This strategic investment underscores ourcommitment to revolutionize the material handling rental industry and deliverexceptional value to our valued customers.”
Over the past five years, Godrej RenTRUST hasachieved a CAGR of 20 per cent, solidifying its position as a trusted andleading player in the material handling rental industry and growing further. Inthis highly unorganized industry, Godrej RenTRUST continues to provide marqueeservices to enable fully complaint and safe operations with certified operatorsand high-quality equipment, that can be digitally monitored in real time by theclients.
Customers benefit from their extensive reach inIndia across 300+ sites, optimized space and cost of warehouses, safer materialhandling movements till 12.5 meters height with increased throughput, with 80per cent of fleet being electric powered.
The Indian rental market, estimated at `2,200-crores,has shown a remarkable growth trajectory, with the organized segment gainingground year after year. Industry studies indicate that in the entire lifecycleof equipment, service consumes approximately 20 per cent of the cost and 15 percent of the time of consumers. Reducing either of these aspects empowersindustry players to become more competitive in their respective sectors.
“This strategic investment underscores ourcommitment to revolutionize the material handling rental industry and deliver exceptionalvalue to our valued customers.”
