Mallcom India Ltd, a prominent player in the personal protective equipment (PPE) industry, has set an ambitious target to achieve a turnover of Rs. 1000 crores by 2028. Founded in 1983 by Mr. Ajay Mall, the company has grown from a small leather gloves manufacturer in Kolkata to one of India’s largest PPE manufacturers and distributors. For the financial year ending 2024, Mallcom’s operating revenue reached approximately Rs. 420 crores, highlighting its strong market presence and growth trajectory.
Today, Mallcom boasts an impressive portfolio of PPE products, including helmets, eyewear, ear protection, face masks, safety garments, gloves, and shoes. The company’s commitment to quality and customer satisfaction is evident, with over 90% of orders coming from repeat customers. As an ISO-certified and government-registered trading house, Mallcom has established itself as a one-stop solution for PPE needs, catering to a global market.
Mallcom’s expansive manufacturing capabilities are spread across 13 production facilities in India, supported by captive test labs ensuring adherence to stringent quality standards. The company is also a major exporter of PPE products, reaching over 55 countries across six continents. This extensive reach underscores Mallcom’s global footprint and its reputation as a trusted PPE supplier.
Mallcom’s strong performance is attributed to the strategic integration and expansion of its manufacturing units. For instance, the garment manufacturing unit was fully shifted and integrated into a new, larger facility in Ghatakpukur, West Bengal, enhancing productivity and capacity.
Mallcom is also progressing with a greenfield project in Sanand-II, Gujarat, focused on Protech work wear. The first phase of construction is expected to be completed by July 2024, with an investment of INR 38 crores already made and an additional INR 40 crores planned. Moreover, the company has commenced the second phase of expansion at Ghatakpukur, involving the setup of a new unit for industrial safety shoes, with a built-up floor area of 50,000 sq. ft and a further capex of INR 20 crores. This project is anticipated to be operational by the third quarter of FY 2025.
In FY 2024, Mallcom’s total capex outlay was INR 26 crores, and the company plans to invest another INR 60 crores in FY 2025, funded through internal accruals. These investments reflect Mallcom’s commitment to enhancing its production capabilities and maintaining its competitive edge in the PPE market.
Global Market Opportunity
The global market size for personal protective equipment (PPE) reached US$ 69.3 Billion in 2022 and is projected to reach US$115.0 Billion by 2028, with a compound annual growth rate (CAGR) of 8.7% during the period from 2023 to 2028. The growth is driven by government safety regulations, rising workplace safety awareness, increasing demand for high-tech and comfortable PPE products, growing instances of occupational accidents, expanding construction activities and the introduction of smart PPEs. Stringent guidelines by organizations such as the Occupational Safety and Health Administration (OSHA) and the International Labour Organization (ILO) will further contribute to the market expansion.
The personal protective equipment (PPE) market is divided into key regions, namely North America, Europe, AsiaPacific, Middle East and Africa and South and Central America. In 2022, Asia-Pacific emerged as the dominant region in terms of PPE market share. The AsiaPacific market is expected to sustain its growth trajectory due to the increasing demand for PPE across various industries, including healthcare, manufacturing and construction.
Future Outlook
Mallcom India Ltd’s journey from a small leather gloves manufacturer to a leading global PPE provider is a testament to its strategic vision and commitment to quality. With ambitious growth plans and continued investments in expanding its manufacturing capabilities, Mallcom is well on its way to achieving its target of Rs. 1000 crores in turnover by 2028. As the company continues to innovate and expand, it remains dedicated to providing top-notch PPE solutions to its customers worldwide.
