Padcorp: Pioneering Affordable Innovation in India's Agriculture Machinery Space

As a predominantly agriculture based economy until the last couple of decades or so, India has always been a global powerhouse in terms of agriculture and agri based exports. However, the humongous population that the nation is home to and the rapid pace at which it is further increasing has resulted in the immediate need for the country to scale its existing agricultural production capacity to effectively meet the growing demand. However, this is easier said than done, as not all farmers possess the necessary financial resources to purchase modern agriculture tools or equipment to utilize in their farming practice. Although the government has launched programs such as such as Pradhan Mantri Krishi Sinchayee Yojana and Pradhan Mantri Fasal Bima Yojana to provide financial support to the farmers, there is also an urgent need for the industry to come-up with innovative machinery that are both efficient as well as affordable even to small farmers.

As per IMARC Group’s recent report, the Indian agriculture equipment market size which stood at Rs. 1129.6 billion in 2023 is expected to amount to Rs. 2527.4 billion by 2032, growing at a CAGR of 9.1 percent during the forecast period. While there are a plethora of companies that are currently operating in this dynamic and hypercompetitive market, Padcorp Padgilwar Pvt. Ltd. has established itself as a leading player, known for its innovation, farmer-centric approach, and extensive product portfolio under the Padcorp brand.

Founding Legacy
Padcorp Padgilwar is a part of the Padgilwar Group which was established in 1960 by late Balasaheb Padgilwar in a small village, Chincholi, near Digras in Maharashtra’s Yavatmal district. A farmer himself, Balasaheb witnessed the plight of small farmers who were forced to rely on manual labor or costly rentals due to lack of affordable machinery. after independence wherein they couldn’t afford to buy the required machinery and thus either rented them or performed the tasks manually. The first product, ‘Chincholi Perni Yantra’ was a fabricated metal machine designed to assist small farmers. Inspired by the Kirloskar Group, Balasaheb was often referred to as ‘Vidarbha’s Kirloskar’. This legacy of innovation and dedication to farmers continues through the company’s efforts to provide affordable mechanization solutions. Today, Padcorp is synonymous with trust and quality in agricultural equipment.

Sharing his thoughts on the current market scenario for agriculture equipment in India, Sagar Padgilwar, Managing Director, Padcorp Padgilwar says, “While the Indian government’s numerous incentive programs have been the primary factors driving the agriculture equipment market growth, the implementation of Direct Benefit Transfer (DBT) to have the subsidy amount transferred directly to the farmers’ bank accounts has been a real game changer for the industry. Additionally, the increasing demand for food production has highlighted the importance of enhancing the efficiency of agricultural practices. With greater smartphone penetration and access to the internet, farmers can now self-educate and adopt modern farming practices more easily”.

Innovation-driven Products Portfolio
Under the aegis of Sagar and the two Directors Akash Padgilwar and Parag Padgilwar, the company has cultivated a culture of continuous innovation and developed a comprehensive portfolio of agriculture equipment and machinery under the brand name Padcorp. Some of the major products that it offers include Seeder Machine, Mobile Rice Mills, Battery-operated Sprayers, Engine-operated Sprayers, Manual Sprayers, Garden Guns & Lances, Heavy Duty Garden Tools, Generators, Water Pumps, LED Bulbs & Lights, Hoses, Pipes, and many and innovative tools like the Angel Mobile Rice Mill - a product that has revolutionized rural livelihoods by promoting self-employment among small farmers and tribal women like Tanujatai Gavit from Nandurbar district.

“Always committed to our core mantra ‘Affordable Farm Mechanization’, we carefully select high-demand products and develop them at the most affordable prices to make them accessible to all farmers. Our flagship products include Angel Mobile Rice Mill (operable using basic electricity and can produce 100-150 kg rice per hour), Battery-operated Sprayers (Double Bull Portable Battery Sprayer and Lithium Battery Sprayer Tank), and retractable garden hose reels and heavy-duty sprayer batteries tailored for diverse farming needs”, Sagar further elucidates.

Quality-centric & Socially Responsible Conglomerate
Quality has always been paramount for Pad Corp, wherein it not only has ISO 9001: 2015 certified quality management systems in place, but each of its products are FMTTI certified and adhere to BIS ISI standards. Some of the major factors that have enabled Pad Corp’s products the farmers’ favorite are high pressure motors, fine mist output nozzles for wide pesticide coverage, long battery life, easy availability of spare parts, and excellent after-sales service. Playing a very crucial role in Padcorp’s success is its innovative approach to product development, wherein the company leverages its extensive dealer network to gather feedback on farmers’ challenges. These insights are used to identify widespread issues, develop practical solutions, and create products tailored to farmers’ needs. All new products undergo rigorous field trials for 2-3 years, during which feedback from farmers and dealers is incorporated into final designs. This process ensures high quality, effective, and affordable solutions.

Going beyond machinery, Padcorp also address socio economic challenges faced by rural communities and strives for women empowerment & tribal community upliftment as well. By collaborating with organizations like Krishi Vigyan Kendras (KVK), this esteemed organization is also enabling tribal farmers to adopt sustainable farming practices.

Journey So Far & Way Forward
Till date, Padcorp has built a robust dealership network of 2000+ dealers, each connected to at least 5,000 farmers. With an impressive YoY growth of approximately 30 percent over the last 3-4 years, Padcorp has been rapidly expanding its business operations and strengthening its presence across India & abroad. This growth is reflected in the scale of its impact, with over 111,000 units sold this year alone, underscoring the trust and demand for its innovative agricultural solutions and its Commitment to revolutionize agriculture. This extensive reach has enabled the company to positively impact the lives of millions of farmers, primarily in Maharashtra. Through its farmer-friendly practices and innovative solutions, Padcorp is poised to revolutionize India’s agriculture sector and empower small farmers to achieve greater efficiency and productivity. With the fourth generation of the Padgilwar family soon joining the business, Padcorp is poised for continued growth.

Throwing light on Padcorp’s future plans, Sagar says, “Going forward, we want to develop advanced farm implements that address emerging challenges in agriculture and expand our reach across global markets, while maintaining affordability for Indian farmers. Additionally, our focus will also be on sustainability by integrating eco-friendly technologies into its products. Over the long run, we aspire to remain committed to empowering farmers with reliable solutions that ensure higher productivity with minimal effort”.

Ravindra Padgilwar, Chairman
As the guiding force of the company, ravindra ensures that the legacy of excellence established by late balasaheb d. Padgilwar remains intact. Additionally, he also provides strategic direction to ensure long-term growth while maintaining a farmer centric approach.

Sagar Padgilwar, Managing Director
Sagar's primary focus is on enhancing padcorp's brand visibility through targeted marketing campaigns and customer engagement. He is continuously engaged in identifying new opportunities across india and internationally to expand the company’s market reach and ensure strong relationships with farmers by addressing their needs and feedback.

Parag Padgilwar, Director(R&D)
Parag spearheads research initiatives to develop cutting-edge agricultural tools tailored for indian farmers. By emphasizing on eco-friendly designs that are efficient, affordable and easy to use, he ensures that the products are designed keeping small farmers' challenges in mind.

Akash Padgilwar, Director(Finance)
Akash is responsible for maintaining the firm’s financial stability through effective resource allocation and budget management. To ensure smooth execution of business objectives, he oversees daily operations and aligns the operational goals with the company’s vision to facilitate timely delivery of products and services.