We will be doubling the annual business by end of 2024.

Madhav Kant Shandilya

Partner & Director, Rudra Aluminium Formwork System

How was the demand trend of formworks last year?   

The aluminium formwork system category has seen an exceptional growth in fiscal year 2022-23. The market was sluggish, and projects were on hold as the economy was reviving from pandemic.

How are the applications of formworks evolving in the latest construction projects?

The demand has increased over period of 7-8 years. If you look at the western and southern market, companies have moved ahead from using conventional shuttering to formwork. Lat 7-8 years, north and eastern region companies have started using the formwork.

What are the latest technologies and solutions offered by the company?

As a company, we offer aluminium formwork system and provide end-to-end solution to any sort of structure. The Baapu Tower Patna, one of the iconic buildings with curvature and ramp, is one of the finest structures constructed with design, supply and was erected by Rudra Aluminium Formwork System (RAFS).

What are the major features of your products?

The system has common feature which most of the companies supply. RAFS has edge over them with one of the best available design and manufacturing facility with good customer service backup.

How do you cater to the changing customer needs with the project size and designs are changing?

Usually, the system is designed on ratio of standard, nonstandard and special panels. We emphasis on max standard materials so that customer can use the same material in their project. As of now, a lot of fresh minds of architects working and they come up with different designs which have reduced the repetition of the aluminium formwork.

How do you look at the market opportunities?  

We started this journey recently, in 2021. The first financial year was 2021-22 where RAFS has achieved and has captured decent market of Rs 35 crore, whereas if you look at 2022-23, we have booked orders just over Rs 140 crore and achieved sales value of over Rs 90 crore which itself is an achievement. We are the youngest one and the only one in the industry to achieve such a milestone which symbolises Rudra entered in the market with a bang. Currently, we have three plants and the manufacturing has grown up at 15,000 sq m monthly. Soon we will be adding another plant to take it to 20,000 sq m monthly and over two lakh square meter annual production with a turnover of around Rs 1.80 crore. We will be doubling the annual business by end of 2024. The market was dominated by Malaysian and Korean players. However, in the last couple of years, Korean import has gone down drastically and they have started manufacturing the material from India only. Our aim is to cash in the Korean dominated market in the coming years.

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