Q. You have been in the wiring harness solutions industry for over two decades. How has been the journey so far?
It has 23 years of manufacturing and 24 years of establishment. The journey was not easy, was a mix of highs and lows. Through a dedicated approach we got an opportunity to supply Bajaj Auto. We had an equity of INR 18 lakh and we got INR 60 lakh loan from the banks. Since then, there has been no looking back.
Q. How has been the transition from manufacturing wiring harness to EV battery assembly?
We started with a wiring harness, the electrical system of a vehicle. It can be compared to the nervous system of a human body. We were very clear that all we wanted to do in future would be wiring harnesses and products connected to wiring harnesses that is forward integration or backward integration. With this, we started evolving as a company and ventured into manufacturing of wires, connection systems, electronic sensors, automotive switches and now into EV battery assembling. Since EV batteries are a very high value product and every manufacturer would like to have its own IP, we have taken a call that we would like to be an EV Battery assembler and not a manufacturer.
Q. What about global footprints?
We tested our destiny on foreign soil for the first time in 2011 by opening a warehousing and engineering setup in the UK. It was a good experience and we got an opportunity to acquire two wiring harness manufacturers based in the UK and Europe in 2017. After that we put up a green field facility in Thailand then an engineering office in Japan and engineering office and warehousing in Korea. Today, about 23% of our revenues come from the business abroad..
Q. What are the plans for expanding global footprints?
One manufacturing facility in Vietnam, one in Mexico, one engineering office in the USA, and one acquisition, which is under discussion, in Europe.
Q. In your factories the majority of the employees are women. Is there any gender policy or anything like that in recruitment?
About 68% of our employees are women. We believe in women empowerment and I think every company should promote women employment. It’s our experience that women are no less than men.
Q. What are the major headwinds that you face in the automotive industry?
We are not facing any headwind or obstacles. And I feel that there’s so much work available in the market, if you really want to be a good supplier, and if you want to be very focused and very honest, dedicated, there is business in the market.
Q. What are your future plans for the global markets?
We have been a focused 2W and 3W supplier. For the past 20 years, we have garnered a major market share. As the next step we want to focus on this segment worldwide and start focusing on commercial vehicles, agricultural products and off-road manufacturers in the field of wiring harness, electronics and switches.
Q. What about the expansion in India?
We are expanding in India but also consolidating by reducing the number of plants and at the same time investing into making mega plants.
Q. Who are your major clients today?
We supply in the 2W sector to Bajaj, TVS Motors, HMSI, Royal Enfield, Suzuki, Yamaha, Kawasaki, Ather and Hero Electric. In the 3W sector, to Bajaj. Piaggio, TVS Motors and Atul. In the commercial vehicle space, to Volvo Eicher, Force Motors and Mahindra Trucks and Buses. In the off-road and agri space, to companies such as John Deere, Volvo, Mahindra and Mahindra and Terex to name a few. In the defence vehicle to Tata Motors.
Q. How did the transition from a turnover of INR 1 crore to INR 2500 crore in 22 years happened?
As I have already told you, we have always been a focused company whether it is on the segment in which we operate, or the products we venture into. This approach helped us to grow on the customer base and in this journey we evolved into a company having multiple products at multiple locations. The second most important aspect which helped us in this growth was having by my side a very dedicated team. We have mapped down a clear strategy in which we look at 25% of our business coming in from exports, 25% from the new technology business and 50% from the domestic wiring harness business.
Q. Why do you have separate plants for each brand and in different locations?
Every customer is important and with the kind of volumes that our customers have, it is important for us to adhere to multiple deliveries. Further, every company has its own engineering and new product development systems. Proximity to them removes the communication gap to a large extent.
