Jay Wood Industry is a market leader in the wooden pallet manufacturing sector. We commenced our journey about three decades ago with a vision to become the finest manufacturer and supplier of wooden pallets with cutting-edge innovation and a customer-centric approach.
a) Tell us about Jay Wood Industry. What is your line of business? How was it launched? Company vision?
Jay Wood Industry is a market leader in the wooden pallet manufacturing sector. We commenced our journey about three decades ago with a vision to become the finest manufacturer and supplier of wooden pallets with cutting-edge innovation and a customer-centric approach.
Jay Wood Industry was a brainchild of my father, the Late Mr. Deepak Shah, and his legacy is continued today by me, as the CEO, and my brother Neil Shah, who is the COO. Over the years, we have diversified our offerings to serve the needs and expectations of our growing customer base, which includes domestic as well as export shipping customers. We are the leading wooden pallet suppliers for leading pharma companies, chemical manufacturers, chemical MNCs, glass and surfactant manufacturers, and automobiles among others.
Today, we have a workforce of 90+, and are a leading manufacturer and supplier of wooden pallets and other packaging products in the country, with sustainability as a key focus for our operations. Our scale of production has grown by over 10X starting with 200 pallets a day in 1994 to 2,500 pallets a day in 2023, We have an annual capacity of 5Mn+ pallets, and serve 100+ customers across the country.
b) You are looking at robust growth in the coming year. What are your plans? What is your revenue target for 2023?
We plan to expand our capacities in the next few years. This Year, we opened our second unit in Kosamba, Gujarat. In the next 3-5 years, we aim to launch two more units in the southern part of India to cater to the requirements of our customers in the region. We are also exploring options for backward integration, and are getting ready to use planks in the coming years. We are looking at revenue growth of around 40% in the next one year, as compared to the last financial year.
