Business Update
Gujarat Apollo Industries Limited announced an expansion of its business portfolio with commencement into the manufacturing and sales of Pick and Carry Cranes.
Manufacturing and Sales
The company manufactured, sold, and dispatched its first Pick and Carry Crane in July 2026, marking the beginning of its foray into the cranes business. The company is committed to a seamless market entry and establishing a strong presence in this specialized domain.
Capacity Expansion
The manufacturing capacity will be expanded to 200 cranes per year within the next 2 years.
Financial Investment
The estimated working capital requirement for this expansion is approximately ₹9 crore over the upcoming two years.
Expected Benefits
The new business line is expected to contribute to revenue growth. The new line of business belongs to the material handling equipment industry.