- Business
- TIL Limited TIL Limited (TIL.NS), founded in 1944 and headquartered in Kolkata, India, manufactures and markets a comprehensive range of material handling, lifting, port and road construction equipment with integrated customer support and after-sales services. Operating through its single Materials Handling Solutions segment, the company produces over 49 models including rough terrain cranes, truck cranes, industrial cranes, pick and carry cranes, articulating cranes, Manitowoc crawler cranes, Grove cranes, self-loading truck cranes, reach stackers, forklift trucks, container handlers and boom lifts; it also deals in spares, provides engineering services, maintenance, training and custom-designed defence equipment for the Army, Navy and Air Force. TIL Limited maintains manufacturing facilities in Kamarhatty and Kharagpur, West Bengal, serves domestic and international markets principally in India, and supports industries such as construction, mining, ports, infrastructure and defence with a pan-India network of branch and area offices.
In January 2024, TIL Limited was acquired by Gainwell Group through its entity Indocrest Defence Solutions Pvt Ltd, which infused initial capital of Rs 120 crore and plans Rs 1000 crore investment over three years to expand manufacturing at Kharagpur and new Chakan, Pune facilities, introduce next-generation products and target $1 billion revenue by 2028. The acquisition led to new leadership under Chairman and Managing Director Sunil Kumar Chaturvedi, a comprehensive two-year turnaround plan, revenue quadrupling to INR 343 crore in FY25 with positive EBITDA of INR 40 crore, sales of 242 machines versus 58 prior year, and strengthened defence orders comprising 47% of FY25 revenue. TIL Limited renewed or expanded strategic partnerships with Manitowoc, Hyster-Yale and added Snorkel for technology transfer, product localization and exports including moderate royalties and global sales provisions from India; it formed a dedicated TIL Defence Strategic Business Unit in 2025 to consolidate its growing defence portfolio amid government tenders.