A Macneill diesel forklift.

Macneill Engineering Ltd, once the loss-making forklift company of Williamson Magor Group, is now making a profit.

The Hindu Business Line reports that company owner and managing director Pradip Churiwal has revealed that Macneill's 2013 turnover totaled INR450 million (USD7.5 million) while net profit was about INR40 million (USD670,000).

The newspaper reports that "after a change in the ownership and management of the company in January 2004, its annual losing streak was stemmed and it turned around within a couple of years".

Expansion in the product offering, better fiscal management and the introduction of equipment rental were credited for growing revenue.

"As a result, surplus employees in 2004 at the manufacturing plant on the southern outskirts of [Calcutta] have been fully utilised," Churiwal told the paper. "Additional employment has been generated for services and renting business."

Equipment rental accounts for 35% of Macneill's total turnover. The company manufactures 850 forklifts from 1 to 8 T annually. It outsources production of parts like batteries, tyres, castings, controllers, motors, transmission engine and drive axle.

The company manages its sales and services through its network of branches located in 23 Indian cities and towns. It exports to Bhutan, Nepal and Bangladesh. Its principal customers are in the oil and power sector.

Macneill Engineering did not respond to Forkliftaction.com's request for an interview by press time.