CASE India Sets Out to Double Revenue by 2030 Despite a Slowing Start to FY27

CASE Construction Equipment expects to double its India revenue by 2030, from a base of roughly Rs 2,700–2,800 crore in FY25; a target that implies growing well ahead of the market.

Organic and Inorganic Growth: CASE's Two-Pronged Plan

"My gut feeling and my sense is that in the next four years, we should be doubling, nearly a 2x growth versus where we are right now in terms of overall revenue," Shalabh Chaturvedi, Managing Director of CASE Construction Equipment India and SAARC, told Autocar Professional.

The construction business sits within CNH India's operations of approximately $1 billion (about Rs 9,570 crore), which span agricultural machinery under the New Holland brand alongside CASE's construction lines. Precise FY26 figures are expected in early August, once the company exits its results blackout period.

Chaturvedi split the doubling plan into two components. "By organic, I mean the current product lines that we already have, gaining more volumes, more market share, as the overall size of the market grows in India," he said. "By inorganic, I mean product lines that we are today not manufacturing and selling in India. Once we start bringing them in, they are also going to generate incremental revenue share."

Pithampur Plant to Power Localization and Exports

The organic leg builds on a claimed record of consistent market-share gains in backhoe loaders and vibratory compactors: CASE's two core segments — even through last fiscal's downturn, which allowed the company to hold revenue roughly flat while the domestic industry declined 7 percent, according to figures from industry body ICEMA. In excavators, CASE remains what Chaturvedi called "a very, very marginal player," meaning industry swings in that segment barely register on its results,  but also that any share gained is pure addition.

The inorganic leg runs through Pithampur. The Madhya Pradesh plant, which built roughly 7,500–8,000 machines last year, is targeted to cross 10,000 units within a couple of years, partly by localizing skid steer loaders and compact track loaders, compact machines suited to confined urban worksites — along with additional excavator ranges. About half of Pithampur's output is exported, so the capacity case does not rest on Indian demand alone; industry exports grew 32 percent last fiscal, per ICEMA.

19% Annual Growth Needed as FY27 Outlook Softens

The ambition is aggressive relative to the market's own trajectory. In its May 2026 annual data release, ICEMA pegged the Indian construction equipment sector; the world's third largest, at about $10 billion in FY25, projected to reach $14.76 billion by 2030 at a compound annual growth rate of 8.3 percent. Doubling revenue over roughly four years implies growth of about 19 percent a year, more than double the market rate, making the localization pipeline and share gains the load-bearing assumptions.

The near-term backdrop has meanwhile softened. Chaturvedi has trimmed his FY27 industry growth expectation from double digits to single digits, citing the West Asia crisis and its knock-on effect on bitumen prices and road construction. The 2030 target, in other words, is being set from a slower starting line.

Whether CNH's global restructuring: the group is exploring a partner for its construction business rather than a spin-off, alters the plan, Chaturvedi was categorical: "The investment, the capacity, the new product lines — they are all coming to Pithampur, regardless of what may or may not happen as a corporate structure."