BUSINESS OVERVIEW

Taurian MPS Limited is a growing engineering and manufacturing company with a strong presence in the crushing and screening, washing plants, spare parts, and industrial solutions segment. The business initially began with a focus on sand, aggregates, and spare parts catering to industries such as construction, mining, and aggregates, and has since diversified into the supply of machines, crushing and screening plants, washing plants, and specialized spare parts.

The company today offers a comprehensive product portfolio covering crushing plants, screening plants, washing plants, and customized spare parts, serving diverse industries including mineral processing, metals, construction, food processing, and waste management. In addition, Taurian MPS provides customized fabrication, machinery assembly, and specialized operations, ensuring that equipment is built or modified to exact customer specifications.

Manufacturing & Infrastructure

The manufacturing facility is located in Bhagwanpur, Roorkee, Uttarakhand, spread over 64,773 sq. ft., and equipped with advanced processing capabilities, quality assurance systems, and skilled personnel. The strategic location allows for faster after-sales service and spare parts support.

Market Presence & Expansion

Over a span of 14 years, Taurian MPS has expanded from local operations to a pan-India and international presence. Domestically, the company serves multiple states including Uttarakhand, Karnataka, Chhattisgarh, Himachal Pradesh, Delhi, Haryana, Ladakh, Andhra Pradesh, Meghalaya, Rajasthan, Madhya Pradesh, Uttar Pradesh, Jharkhand, Jammu & Kashmir, Gujarat, Maharashtra, Odisha, and West Bengal, with dealerships in Maharashtra, Raipur (Chhattisgarh), Assam, and Nepal.

Globally, the company has appointed dealers in the Gulf region, the Caribbean, and the USA, enabling sales in Mexico, Tanzania, and Jamaica. An alliance with Plus Natural Resources further strengthens capabilities by combining manufacturing expertise with application engineering and project management, enhancing efficiency and expanding reach into North America, Latin America, Europe, and Africa.

Services & Customer Support

Beyond manufacturing, Taurian MPS delivers installation, maintenance, repair, and equipment upgrade services. These services ensure smooth customer operations while building long-term client relationships. A reputation for durability, innovation, and advanced technology has established the company as a preferred solutions provider in mining and construction equipment.

Strategic Direction

The company is led by Mr. Yashvardhan Sumit Bajla, Promoter, who drives long-term growth through strong leadership, deep industry knowledge, and strategic expansion in both domestic and international markets. A focus on new product launches such as the Terra Track series and modular equipment lines is designed to strengthen market presence in spare parts and after-sales service.

Mission & Vision

The mission is to deliver world-class crushing, screening, and washing equipment up to 1200 TPH capacity, backed by cost-effective solutions, CE-certified products, rapid aftermarket support, and exceptional service. The vision is to be recognized as the industry leader in innovative, high-quality crushing and screening solutions, supported by superior customer service and technical expertise.

Industry Position

• Operates in a competitive market alongside established global and domestic players.

• Differentiated by engineering capabilities, R&D investment, and customized solutions.

• Known for durability, efficiency, and cutting-edge technology, making products a preferred choice across industries.

• Strong commitment to sustainability, safety, and innovation, positioning the company for long-term growth.

Resources & Operations

As of July 31, 2025, the company employs 94 staff members. The banker to the company is the Central Bank of India. Raw materials such as castings, MS plates, motors, rollers, beams, pulleys, conveyor belts, and jaw plates are sourced from approved domestic suppliers, ensuring quality and consistency in all manufactured products.

A structured production process ensures alignment with customer requirements—from design, project planning, and raw material procurement to manufacturing and delivery. This approach guarantees high-quality, reliable machinery tailored to client specifications, enabling Taurian MPS to maintain its reputation as a key player in the crushing and mining industry.

INDUSTRY ANALYSIS

Metals and Mining Industry in India

India enjoys a competitive advantage in steel and alumina production due to its low conversion costs and strategic geographic position, which provides access to both developed and emerging Asian markets. As of FY22, the country had 1,319 reporting mines, with 545 dedicated to metallic minerals and 774 to non-metallic minerals.

Minerals, being critical raw materials, form the foundation of industrial growth, making the mining industry a key driver of economic development. India is self-sufficient in key metallic minerals such as bauxite, chromite, iron ore, and lignite, as well as mineral fuels like coal. The industry significantly contributes to GDP growth, foreign exchange earnings, and the competitiveness of downstream industries including construction, infrastructure, automobiles, and power generation.

Growth in infrastructure development, housing, and automotive production is driving strong demand for iron and steel, while power and cement sectors continue to add momentum to the industry.

Market Overview

India’s mineral production continues to expand, supported by rising demand. In February 2024, the production of coal stood at 966 lakh tonnes, iron ore at 244 lakh tonnes, and limestone at 387 lakh tonnes, among other minerals. Notably, gold production surged 86% year-on-year, while copper concentrate rose by 28.7%. Overall, the index of mineral production in February 2024 grew 8% compared to February 2023.

Coal production remains a backbone of the sector, touching 997.25 MT in FY24, marking a 12% rise from the previous year. Similarly, iron ore output reached 277 MMT in FY24, an all-time high, while aluminum production stood at 4.07 MT in FY23. The steel industry too has maintained robust performance with crude steel production at 125.32 MT in FY23, and India is now the fourth-largest iron ore producer globally.

In terms of value, mineral production was estimated at ₹1,18,246 crore (US$ 14.37 billion) in FY23, highlighting the sector’s vast economic contribution despite fluctuations in exports such as iron ore, which declined from US$ 3.18 billion in FY22 to US$ 1.75 billion in FY23.

Outlook

The industry has significant opportunities ahead, particularly in iron ore, bauxite, and coal mining capacities, along with untapped potential in sub-surface mineral exploration. The National Mineral Policy 2019 has paved the way for sustainable mining practices, better regulation, private sector investment, and M&A activities, while also ensuring social and economic balance. With rising domestic demand and export opportunities, the sector is expected to play a major role in India’s post-COVID growth trajectory.

Manufacturing Industry in India

The manufacturing sector is emerging as a pillar of India’s economic growth, supported by strong performance in automotive, engineering, chemicals, pharmaceuticals, and consumer durables. Prior to the pandemic, the sector contributed around 16–17% of GDP, and it is now set to be one of the fastest-growing industries.

Technology has transformed manufacturing in India, with digital transformation and automation playing a key role in enhancing efficiency, productivity, and global competitiveness. In March 2024, the HSBC Manufacturing PMI reached 59.1, a 16-year high, signaling robust growth driven by new orders, output expansion, and job creation. With government support and industry momentum, India is on track to become a global manufacturing hub with export potential of US$ 1 trillion by 2030.

Market Performance

Manufacturing exports hit a record US$ 447.46 billion in FY23, reflecting 6% annual growth. The sector’s Gross Value Added (GVA) stood at US$ 770.08 billion in Q1 FY24, while capacity utilization reached 76.8%, indicating strong recovery. Smartphone exports alone surged 42% in FY24, crossing US$ 15.6 billion, largely supported by the PLI scheme, with the US as the top destination.

India’s middle class is expected to account for 17% of global consumption by 2030, which will further strengthen domestic demand. Additionally, the country’s FDI in manufacturing has touched US$ 165.1 billion, a 69% rise over the past decade, driven by reforms and policy incentives.

The government’s push through the National Manufacturing Policy and PLI schemes aims to raise the sector’s contribution to GDP to 25% by 2025. India is also witnessing a surge in employment opportunities, with the mobile phone manufacturing industry alone expected to create up to 250,000 jobs in the coming years.

Outlook

India is positioning itself as an attractive hub for global manufacturing, supported by large-scale infrastructure projects, industrial corridors, smart cities, and initiatives like SAMARTH Udyog Bharat 4.0. The GST framework has unified India into a common market of US$ 3.4 trillion GDP and 1.48 billion people, further strengthening its appeal for investors.

With its cost advantages, skilled workforce, government incentives, and digital infrastructure, India has the potential to reach US$ 1 trillion in manufacturing output by 2025–26 and contribute more than US$ 500 billion annually to the global economy by 2030. The sector is poised not only to drive economic growth but also to emerge as one of the largest job creators of the decade.

BUSINESS STRENGTHS

1. Comprehensive Product Portfolio
Taurian MPS Limited provides a wide range of material processing equipment, including crushing, screening, washing, and spare solutions, catering to industries such as mining, construction, and recycling. The equipment is designed to process aggregates, minerals, sand, gravel, and recycled materials. The crushing range includes jaw crushers, cone crushers, roll crushers, and impactors, available in mobile, wheel-mounted, and modular configurations to meet diverse operational requirements. Advanced washing systems ensure the removal of fines to deliver high-quality end products, while conveying systems enable efficient material handling for large-scale operations.

2. Manufacturing Capabilities
The company operates from a state-of-the-art factory near Bhagwanpur, District Roorkee, Haridwar, with manufacturing capabilities that provide scale, flexibility, and locational advantages. The facility supports production of crushers up to 800 TPH, while its strategic location enables access to skilled engineering talent and faster service delivery to nearby customers. Comprehensive in-house capabilities—including material inspection, cutting, machining, fabrication, assembly, and testing facilities—allow quick responses to customer needs and effective control over quality, production costs, and delivery timelines.

3. Quality Control Mechanism
Stringent quality control is implemented across all stages of manufacturing. Techniques such as Failure Mode and Effects Analysis (FMEA) and Advanced Product Quality Planning (APQP) are employed to anticipate and mitigate quality issues. The company integrates lean manufacturing practices and statistical process control into in-process checks. Rigorous inspections and testing protocols ensure product performance and reliability. By combining advanced quality management systems with continuous employee training, Taurian MPS consistently delivers durable and reliable products.

4. Experienced Management Team
The leadership team blends youthful energy with industry expertise, covering functions such as sales, marketing, production planning, and project execution. Key members include Managing Director Mr. Yashvardhan Sumit Bajla, Production Head Mr. Shiju Papachan, Director Mr. Atul Vinaychand Hirawat, and CFO Mr. Vinod Prabhudayal Modi. Their combined experience and strategic vision drive sustainable growth and operational excellence.

5. Diversified Customer Base
In Fiscal Year 2024, Taurian MPS supplied equipment across multiple states, achieving revenues of ₹25.32 crore, with notable contributions from Rajasthan and Maharashtra. The company has expanded beyond domestic markets, establishing a presence in international territories through appointed dealers in the United States and Saudi Arabia. This diversified customer base strengthens resilience and creates opportunities for further global growth.

BUSINESS STRATEGIES

1. Diversification and Geographic Expansion
Taurian MPS Limited is focused on expanding its market presence by entering new territories and broadening its range of products and services. Stronger footholds are being established in Maharashtra, Gujarat, and Rajasthan, while efforts are underway to extend reach across other regions of India. Enhanced brand visibility and sales networks are positioned as key growth drivers.

Since 2023, the company has entered international markets, strengthening its recognition as a global industry player. Strategic expansion, both domestic and international, is expected to accelerate growth by increasing sales, acquiring new clients, and building a sustainable presence nationwide and globally.

Growth initiatives include the launch of innovative product lines designed to integrate seamlessly with existing infrastructure, providing rapid value with minimal client investment. A dedicated service team contributes to high client retention, with spare parts revenue accounting for nearly 10% of overall income.

Leveraging established successes in Rajasthan and Maharashtra, the company replicates efficient client acquisition strategies, reducing costs and timelines. Relationships with leading EPC contractors and infrastructure companies are further utilized to secure approved supplier status with tier-one customers, amplifying diversification efforts and strengthening market reach.

2. Innovation and Product Diversification
To sustain a competitive edge, innovation is emphasized across all product categories. A commitment to 100% in-house production enables the development of a broader machinery portfolio, including energy-efficient crushing and screening solutions tailored to specialized industries.

Continuous expansion of R&D and manufacturing capabilities supports the upgrading of existing products, development of new variants, and the introduction of optimized technologies such as the automation platform “Taurian Nexus.” These initiatives enhance efficiency while meeting evolving market demands.

3. Operational Efficiency and Cost Optimization
Profitability enhancement is driven by a strong focus on operational efficiency and cost reduction. Implementation of lean manufacturing techniques, optimized supply chain management, and automation investments reduces waste and lowers labor costs.

A streamlined organizational structure eliminates redundancies and promotes the adoption of energy-efficient and environmentally responsible manufacturing processes. Strategic investments in advanced machinery, including CNC VMC, CNC HMC, and CMM systems, improve dimensional accuracy and real-time quality control, reinforcing the company’s commitment to precision and sustainability.

BUSINESS RISK FACTORS & CONCERNS

1. Limited Track Record and Experience
Taurian MPS Limited and its promoters have a limited track record in the manufacturing and sale of crushing, screening, and washing plants. Despite efforts to establish a strong market presence, the company’s experience in this segment remains relatively limited compared to competitors with longer operating histories. The ability to scale operations, manage production efficiencies, and respond to market demands is yet to be fully tested. Any challenges in operations, quality control, or customer satisfaction could adversely affect the business, financial condition, and results of operations. The absence of a long-standing reputation may also impact customer trust and restrict growth opportunities.

2. Project Execution and Delivery Risk in Sale of Food/Lactose Processing Plant
The company sold a Lactose Processing Plant originally purchased from M/s Somdhara Dairy Pvt. Ltd. at a cost of ₹1,850 lakhs, which was subsequently supplied in phases to M/s Parag Milk Foods Limited after extensive overhauling with new components such as automation systems, conveyors, and stainless-steel piping. As of May 31, 2025, supplies worth ₹2,511.50 lakhs had been completed, with the remaining value of approximately ₹1,288.50 lakhs expected by July 31, 2025.
This transaction, being outside the normal course of business, highlights a deviation from core operations in construction and equipment manufacturing. Past sales of crushing and screening plants to companies in food processing and iron & steel industries further emphasize the risk of venturing into unrelated segments, which may not generate sustainable revenues in the future.

3. Dependence on Key Product – Crushing and Screening Plants
A significant portion of revenue is derived from the sale of crushing and screening plants, which accounted for 90.37% of total revenue in Fiscal 2025, amounting to ₹6,645.14 lakhs. Any decline in sales of this key product due to competition, pricing pressures, or demand fluctuations could materially impact financial performance. Inability to adapt to technological advancements or changing customer preferences may further limit future growth and profitability.

4. Risk of Unsold Machinery and Excess Inventory
The business of manufacturing heavy machinery, such as crushing, screening, and washing plants, carries the inherent risk of unsold inventory. High production costs, coupled with potential mismatches between supply and demand, could result in excess stock. Unsold machinery ties up working capital, increases storage and maintenance costs, and may lead to depreciation losses, thereby straining the company’s financial position.

5. Single Manufacturing Facility Risk – Uttarakhand Dependence
The company’s sole manufacturing facility is located in Uttarakhand, making operations highly vulnerable to localized disruptions. Risks include natural disasters, landslides, floods, earthquakes, social unrest, power outages, or machinery breakdowns. The region’s mountainous terrain also poses challenges for logistics and transportation. Any extended shutdown or disruption at this facility could significantly affect production, revenues, cash flows, and overall financial condition.

Summary :
Taurian MPS Limited faces risks primarily due to its limited operational history, overdependence on a single product line, and reliance on a single manufacturing facility. Non-core business ventures, such as the sale of a lactose processing plant, highlight execution risks outside the company’s primary domain. Additionally, the potential for unsold inventory and exposure to natural or operational disruptions in Uttarakhand further elevate business uncertainties. Sustained growth will depend on the ability to diversify, innovate, and manage external challenges effectively.