Godrej & Boyce, the flagship company of the Godrej Group, announced that its business Godrej RenTRUST is targeting a growth of 23 per cent YOY in providing rental solutions for complex material handling needs. The business has surpassed pre-pandemic level revenues and is growing steadily.
Godrej RenTRUST is the only Indian rental solutions provider that manufactures and provides Indian origin material handling equipment to its clients thereby, encouraging the government’s push for ‘Aatmanirbhar Bharat’ with its vocal-for-local operation strategy.
The current industry value is approximately 600 to 650 cr with an addressable market of INR 200 to 250 cr for the business, in the backdrop of industries focusing on outsourcing complex and high-end material handling work.
As the e-commerce sector in tier III and IV markets grows, so does the demand for warehousing equipment. Companies across industries, especially project-based firms, are moving towards renting equipment and outsourcing material handling requirements to expand their operations and focus on other core competencies.
To address this need, Godrej RenTRUST has added more than 1,000 material handling equipment to its rental fleet. The business customises end-to-end rental solutions such as equipment and maintenance, skilled operators, administration and value-added solutions for their clients.
Commenting on this, Anil Lingayat, Executive VP and Business Head, Godrej Material Handling said, “Today’s complex material handling environment requires industry expertise to increase productivity, optimise costs, and deliver quick results for customers. Godrej RenTRUST has become a leading organised player owning 23 per cent of the market share among rental players and offering a decade of experience to its clients in delivering rental solutions for their material handling requirements pan-India. Our mid-term goal for FY25 is to target about 2,500 material handling equipment in our rental fleet. Going forward, we look forward to partnering with Indian as well as global players to provide the best end-to-end material handling rental solutions.”
Fuelled by the heavy reliance of companies on the rental industry for their seasonal demand, heavy loads, and unexpected rise in their respective markets, the industry players offering rental solutions for material handling equipment have witnessed a major boom as the pandemic has hastened the process for essential services.