POWER TRANSMISSION
Increasing demand for energy-efficient systems and high-speed machines is steering the growth of the power transmission gearbox market. Growing industrialisation and urbanisation, backed by investments in infrastructure development, is unleashing further growth opportunities in this segment. The Indian defence industry is also seeing enhanced focus on the development of indigenous capability and technology, driven by the Government’s ‘Make in India’ policy and ‘Atmanirbhar Bharat’ campaign. The Ministry of Defence is proactively encouraging capable vendors to partner it in its defence indigenisation journey.
With our dominant market position in industrial gears and competencies in delivering high-precision products for the defence industry, we are at the forefront of harnessing the emerging opportunities in this segment.
We are among the largest engineered-to-order turbo gears manufacturers in India. We have a dominant domestic market share across OEMs, and are patronised by global OEMs across applications. We are also one of the few companies globally catering to AGMA & API standards and supplying gearboxes to hazardous and sub-zero temperatures. We are providing critical technology and engineered solutions on multiple fronts to Indian Navy and Indian Defence industry.
We are now pursuing growth independently in the high-speed high-power segment after our licence agreement with Lufkin Gears LLC expired in January 2023. We are confident of enhancing our market share in key domestic and global markets in this business.
(For more details on the investments and initiatives of FY 23, please refer to the Management Discussion and Analysis section of this Report).
Steam Turbines
Gas Turbines
Centrifugal Compressors
Reciprocating Compressors
Centrifugal Pumps
Fans and Blowers
Hydel Turbines
Our Defence business has ventured into a specialised vertical of propulsion shafting post winning an order for Main Propulsion Shafting for sub-surface platform with in-house design & engineering. This would be a pioneering initiative aligned to the Atmanirbhar Bharat policy of Govt of India. The technology developed will enable participation in various other shafting projects for Navy.
The Government’s ‘Make in India’ initiative has created new opportunities for diverse engineering products, and our Power transmission business is actively participating in many of these indigenous projects. We have, over the years, developed expertise and experience as well as strong relationships in the Asian sub-continent, which should support our growth in the international markets, for not just new products but also for the aftermarket business. We plan to expand our service footprint in high potential international regions to capture high growth opportunities. The focus will be on leveraging our existing expertise and experience of retrofitting and troubleshooting of all global makes.
Gross Revenue
Closing order book
PBIT
High-speed gear boxes installed globally
Order booking during the year
Gearboxes of global brands refurbished
The key segments of Gas Turbines packaging, gearboxes and special application pumps are pushing growth in Defence. We are Indian Navy’s chosen reliable supplier for propulsion shafting and turbo pumps, for indigenous sub-surface project. We are developing multiple product lines for Naval applications like Stabilisers, Light Weight Gearboxes, Propulsion Shafting & System, Steering Gear for a range of marine platforms, and Special Application Pumps. Our foray into a special vertical of propulsion shafting will pave the way for our participation in various other shafting projects for the Navy.
Our R&D investments have helped in significant development of our technology competence in high-speed high-power gearboxes. We shall continue to focus on cost and quality leadership in the international markets.
