Powertrain division of Mahindra Group is eyeing to touch $1 billion (about Rs 6,600 crore) in revenues over the next seven years. The company today announced the launch of its 125kVA Diesel Generators (DG) in Pune priced at Rs 7.24 lakh which includes the cashless service charges of Rs 1.25 lakh.
The company has offered a five-year super-shield plan for this product.
"We are seeing a growing demand for higher voltage DG sets especially from the real estate point of view which includes high rises, hotels, educational institutes, and hospitals, among others. We are confident that this product will put us engaged in DG sets on the fast-track within the power generation industry with our future products and service offering," said Rajan Wadhera, Mahindra Trucks & Powertrain president and chief executive.
Under the powertrain division, the company manufactures gensets, engines and transmission and also provides engineering services. It manufacturers 80 gensets and 80 power trains per day from its Pune plant.
"Currently, the power train division contributes $200 million in revenues and we are confident of achieving $1 billion target in the next six years," Wadhera added.
The company has plans to introduce higher capacity engines that will cater to industries like the marine, construction equipment, cranes, forklifts and tractors from 320 kVA next year and going forward to up to 1 Mw. It has divided its power train business as generators and non-generators. The gensets business alone contributes nearly 85 per cent of its revenue. It exports to the markets like South East Asia and Middle East.
Globally, Mahindra competes with other genset players like APR Energy Plc., Broadcrown Ltd., Caterpillar Inc., Cummins Inc, Dresser-Rand Group Inc and Mitsubishi Heavy Industries.
The market size of Indian genset market size is of Rs 3,000 crore (100,000 units) and it is growing due to increased demands and shortage of power supply.