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Mallcom India Ltd, the manufacturers and distributors of personal protective equipment (PPE) products, is looking to strengthen product mix and invest on its own brand as it plans to scale up the share of domestic market to its sales to around 50 per cent in the next four-to-five years.
According to Ajay Kumar Mall, Managing Director, Mallcom, domestic sales currently account for around 30-33 per cent of its total sales, with the remaining (close to 65-67 per cent) coming from exports. The company’s total turnover stood at around Rs 326 crore in FY-21.
A majority of the company’s exports happen under private label while it sells in India and other neighbouring countries under its own brand.
“We have a complete range of holistic solution and products for the safety of industrial workers. Occupational safety and health have become very important issues and employers pay lot of attention and care to this. There is a good demand and we have been growing at around 10-15 per cent y-o-y basis,” Mall told BusinessLine.
The company plans to build its brand in India, Middle East and Africa and also increase market share in North American geography.
Manufacturing facilities
Kolkata-headquartered Mallcom manufactures one of the widest range of head-to-toe PPE products including helmets, eyewear, ear protection, face masks, safety garments, gloves to shoes.
The company, which has close to 13 production facilities spread across the country, exports to close to 55 countries across six continents. Mallcom has planned capex of around Rs 70 crore for enhancing production capacities across its facilities in Ahmedabad and West Bengal over the next one-to-two years.
The investment would help consolidate manufacturing and increase capacities across verticals, he said.
The company would continue to focus on high growth industries such as healthcare, construction, engineering, automobile, and manufacturing. It would also increase existing client wallet share by taking on high-value contracts and identifying cross-selling and up-selling opportunities, the company said in the recent investor presentation.
The company will focus on strengthening product mix to boost margin, and drive the next generation product pipeline in addition to the existing product portfolio for future growth, it said.
Over the years, the company has focused on backward integration wherever possible resulting into significant cost savings and gradual margin expansions.
Growing market
The global PPE market is estimated to grow at around 8 per cent from $52.77 billion in 2021 to $91.55 billion in 2028.
The growing need for respiratory equipment in mines, emergency response, the military and law enforcement, health care, and fire departments, associated with the increase in hand injuries in the workplace, is expected to drive market growth for PPE over the next few years, the company said.
Increasing number of manufacturing units and construction projects in the country is also positively influencing India personal protective equipment market, it added.
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