- Company is expected to increase revenue by 20% in 2023-24
Mumbai, 22 February 2023: M/s Jay Wood Industry, a market leader in the wooden pallet manufacturing sector, aims to increase its annual production to 6 million wooden pallets, in order to meet growing customer demand. As the global economy continues to rebound after the third wave of the COVID-19 pandemic, companies across the world are accelerating the production of their goods with the aim of reaching pre-pandemic levels, to cater the increasing consumer demand. Consequently, there is a corresponding increase in the demand for wooden pallets, which are universally popular for the safe and convenient shipping of nearly 80% of all produced goods in the world.
The company’s goal to increase wooden pallet production to 6 million, represents a projected increase of 20% over the last year, which translates to an increase in YoY revenue by 20% in 2023-24. JWI also plans to boost its production of EPAL pallets (wooden pallets certified by the European Pallet Association) which are in high demand due to their rigorous quality standards, by installing automatic high-capacity chamfering machines imported from Italy in their manufacturing units. The ramping up of JWI’s production capacity is driven in large part by a surge in demand from booming sectors such as pharmaceuticals, glass, chemicals, automotive, and manufacturing.
Commenting on Jay Wood Industry’s robust growth, Jay Shah, Managing Director & CEO, said, “M/s Jay Wood Industry is celebrating its 30th birthday this year, and we are overwhelmed by how much we have grown and achieved during this journey. We started our operations from a humble little office in 1994 and, today, we have two world-class plants, and loyal customers across industries such as pharmaceuticals, glass, chemicals, automotive, and manufacturing, among others. During this time, we have grown from a modest count of 65 employees to a robust workforce comprising 90+ personnel.
As the global economy continues on its recovery trajectory, we are also committed to becoming a trusted partner, by providing our ever-increasing customer base with a high-quality product that meets global benchmarks, and will protect their goods as they travel through the supply chain to the end consumer.”
M/s Jay Wood Industry is the first wooden pallet manufacturer in India to be certified by the European Pallet Association to produce EPAL CP pallets. The company also manufactures pallets customised for specialised requirements. Additionally, the company is focusing on developing its own software to monitor operations and increase efficiency. All the wood used by JWI for pallet manufacture is also acquired from sustainable forest.
About Jay Wood Industry
Founded in 1994, M/s Jay Wood Industry is a market leader in the wooden pallet manufacturing sector. As pioneers of the industry, the company’s motto is ‘Nothing is Impossible’, with a focus on providing customers with unparalleled quality and service. Today, they have a team of 90+ seasoned professionals, and are a leading manufacturer and supplier of wooden pallets and other packaging products in India, with sustainability at the helm of our operations. Their scale of production has grown by over 10X starting with 200 pallets a day to 2500 pallets a day. They have an annual capacity of producing 5 millions+ pallets annually, serving 100+ customers across the country. Being a legacy in the sector, M/s Jay Wood Industry has multiple laurels and achievements to its name. They have been the frontrunners and the first ones to get an automatic nailing line as well as the CP license in India and are certified by the European Pallet Association e.V. They are the proud recipients of the “Brand Impact Award, 2020-21” conferred by the Indian Achievers’ Forum.
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