TIL Limited Company Profile
Background
Established in 1944, TIL Limited is a prominent Indian company specializing in the design, manufacture, and marketing of a comprehensive range of material handling, lifting, port, and road construction equipment. Headquartered in Kolkata, West Bengal, TIL has been instrumental in supporting India's infrastructure development for over eight decades. The company's mission is to deliver innovative and reliable equipment solutions that enhance productivity and efficiency in material handling and construction sectors. TIL's vision is to set new standards in design and manufacturing excellence, positioning itself as a leader in the heavy machinery and equipment industry.
Key Strategic Focus
TIL Limited's strategic focus centers on providing integrated material handling and lifting solutions tailored to the needs of the construction, mining, and port sectors. The company specializes in manufacturing a diverse array of equipment, including:
- Rough terrain cranes
- Truck cranes
- Pick and carry cranes
- Crawler cranes
- Reach stackers
- Forklift trucks
- Container handlers
- Self-loading truck cranes
- Boom lifts
By leveraging advanced technologies and maintaining strategic alliances with global leaders such as Grove Worldwide, Manitowoc Crane Group, Hyster-Yale Group, and Astec Industries, TIL aims to address the evolving demands of its primary markets, including construction, mining, and port operations.
Financials and Funding
As of March 31, 2024, TIL Limited reported a revenue of ₹669.1 million, marking an increase from ₹438.3 million in the previous year. The company achieved a net income of ₹2,539 million for the same period, a significant turnaround from a net loss of ₹910.2 million in the prior year. In March 2025, TIL approved raising funds up to ₹600 million, with Indocrest Defence Solutions Private Limited expected to invest this amount, thereby acquiring a 68.43% stake in the company.
Pipeline Development
TIL Limited continues to expand its product portfolio to meet the growing demands of the infrastructure sector. The company has recently renewed its dealer sales and service agreement with Hyster-Yale Asia-Pacific Pte. Ltd., ensuring the continued distribution and support of Hyster® products in India. Additionally, TIL has partnered with Snorkel Europe Limited to serve as Snorkel's sales partner in India, Nepal, and Bhutan, further diversifying its offerings in the aerial work platform segment.
Technological Platform and Innovation
TIL Limited distinguishes itself through its commitment to technological innovation and excellence in manufacturing. The company operates two state-of-the-art manufacturing facilities in West Bengal:
- Kamarhatty Plant: A fully integrated facility recognized as India's only purpose-built mobile crane manufacturing plant.
- Kharagpur Plant: An ERP-enabled factory certified under ISO 9000:2000, ISO 9001, ISO 3834, and EN 729 international standards.
These facilities enable TIL to produce high-quality equipment that meets global standards. The company's proprietary technologies and adherence to rigorous scientific methodologies ensure the reliability and efficiency of its products.
Leadership Team
TIL Limited's leadership team comprises experienced professionals dedicated to steering the company towards sustained growth and innovation:
- Sunil Kumar Chaturvedi: Appointed as Chairman and Managing Director in January 2024, bringing extensive experience in the heavy machinery and equipment industry.
- Pinaki Niyogy: Serving as Chief Operating Officer since July 1992, overseeing operations and strategic initiatives.
- Sumit Kr. Biswas: Vice President of Sales & Marketing since March 1999, leading the company's marketing strategies and sales operations.
Leadership Changes
In January 2024, TIL Limited underwent significant leadership changes:
- Sunil Kumar Chaturvedi: Appointed as Chairman and Managing Director, succeeding the previous leadership.
- Kanhaiya Gupta: Appointed as Chief Financial Officer, effective January 25, 2024.
Competitor Profile
Market Insights and Dynamics
The heavy machinery and equipment industry is characterized by robust demand driven by infrastructure development, urbanization, and industrialization. The market is competitive, with several key players offering a range of material handling and lifting solutions.
Competitor Analysis
TIL Limited faces competition from both domestic and international companies, including:
- China First Heavy Industries: A Chinese company specializing in the manufacture of metalwork machinery equipment.
- Hyster-Yale: A global company that designs, engineers, manufactures, sells, and services lift trucks, attachments, and aftermarket parts.
- Manitowoc: An American manufacturer of lifting solutions, including cranes and related products.
- CITIC Heavy Industries: A Chinese manufacturer and seller of heavy equipment.
Strategic Collaborations and Partnerships
TIL Limited has established strategic alliances with global leaders to enhance its product offerings and market reach:
- Grove Worldwide & Manitowoc Crane Group (USA): Partnerships for manufacturing and marketing cranes.
