This is a story about the struggle of five engineers, who started off from scratch with empty pockets and no industrial background. The goal was to make capital machinery for sheetmetal forming solutions. The year was 1999 when the Indian economy had just started moving. Globalisation was a new idea and lots of multinationals had gauged the potential of the Indian market in early days.
The company decided to jump blindly without thinking too much about the results. They started to meet industry owners and offered their products. Everyone was impressed with their knowledge, ideas and commitment but no one was convinced to take risks with young entrepreneurs. So it offered them services for their existing machinery and started to gain the trust of customers. The idea worked well.
Determined in Adverse Situations
The business started gaining some orders and things started moving. Customers were happy with machines and performance but still the company was not gaining the orders very regularly because of limited market, financial crunch and slowdown of overall market in India. But in all adverse situations, the morale of the team was high.
It decided to crack this situation by expanding its reach to pan India. Starting with slow but steady efforts and finally, the response came and they started getting more orders. This was 2007.
It learnt a very interesting lesson in a new market. The market had potential to accept modern technology. So, we decided to re-invest a portion of their profit & other resources into two major areas, one was building a better manufacturing infrastructure & expanding product range, developing high end technology. It was the right time decision & game changer.
Soon the response was awesome. The team was highly motivated & started expanding facilities multifold like they acquired 2nd plant in 2009, 3rd in 2010 & so on. By the end of 2013, the size of manufacturing infrastructure was 5 times in just 5 years with sizable mother machines. Similarly, 12 new products & versions were launched in just 8 year’s time with very good market acceptance. This also won the recognition from Government & ENERGY MISSION was awarded for “NATIONAL LEVEL OUTSTANDING ENTERPRENEURSHIP AWARD” for Year 2009 & 2014 by MSME.
Then, the time was 2016 when the team was ready to bid for top position in Indian manufacturers. This time the goal was very high. They wanted to make an advanced version of machinery which can compete with the world market. The team wanted to be NO 1 in India with an unmatchable Made in India product. The time was also right and execution started.
The new plant was built in 20,000 sq. mtr claiming to be the largest facility. The fleet of new CNC mother machines were installed. The plant had almost everything in-house to control the quality under one roof.
The product redesign was done completely, aimed at direct competition with any high-end MNC brands. The colour, appearance, finishing, performance and presentation, everything was changed completely with systematic approach & process.
And the result was just awesome. The market not only appreciated but also responded. There was a flow of orders. The numbers were growing in terms of turnover as well as happy customers. The team got many challenging orders & delivered successfully, making milestone achievement of largest machines made by Indian manufactures. In 2022, the company has achieved a milestone of Rs 100 crore turnover & gained good market share in India. Not only that, but the overseas response was also awesome. The company started operations in the US & West Asia & exporting to the world with a slogan “MADE IN INDIA, MADE FOR THE WORLD”.
The story is still going on. Since this was a trend-setter team, they were ready for new goals. The team has decided to go for public listing & becoming the first Indian company in sheet metal forming machinery segment to go for public listing.
