Company needs to enter into manufacturing of diverse and more complex mining machines for import substitution and also to be able to increase it’s export footprint.
They haven’t announced any capex so far. They have however increased their R&D spend from 2.8Cr to almost 6Cr.
R&D spend FY23:
R&D spend FY24:
So I would assume they haven’t been able to come up with anything tangible from their R&D efforts yet this year. Once they have made progress here they may look at capex. Also their cash seems to be 0, they may have to raise capital for any further capex depending on the quantum of it.
Their recent products, Continuous Miner and the Piling Rig seems to be a product of their collaboration with overseas companies. It’s imported technology that is being absorbed and to be adapted to Indian conditions:
Does this mean they don’t have the competency to come up with new tech on their own? And that warrants the increased R&D spend.
| Subscribe To Our Free Newsletter |
