Q. How was the year that went by for your company?
The year FY2016 was good overall. In spite of GDP not growing as expected and manufacturing sectors growth was subdued, we have grown in volumes in both Consumables and Equipment. This is as a result of our reach to customer, value addition approach through technical support, strong after-sales service in higher customer satisfaction Index and many more activities. In case of consumables we have grown in spite of low business from key accounts of FY2015. This means we have reached out to more number of end users and have successfully converted and retained them to Ador Welding. The year was good for Automation business as well as for Project Engineering Business due to launch of new products and successful commissioning of projects during the year.
Q. Any upheavals you had to surmount?
The market was tough, Capex had dried out and thus market became fiercely competitive leading to price wars. No new projects launched, Margins were seriously under pressure. Thus the challenge was to acquire more customers by serving their specific needs with our technical expertise and support.
Q. What are the innovations you wish to display this year?
Innovation has been a part of our culture with increased focus since last 3 years. We have established an Innovation Council which is responsible for creating the culture of Innovation. Over 100 employees in the organization at various levels have undergone training in this regard. TM and OD activities are focused on Innovation. Innovation in Products and Services is indispensible in today’s competitive market. We have also done a lot of Innovation in our processes at support functions and manufacturing apart from our Products and Services. For example, in one of our manufacturing processes we have increased the efficiency of our Wet Drawing machine by changing the design of the pulley that was provided by the OEM manufacturer of the machine. A constant zeal of finding avenues to add value to the organization is the spirit of our employees, and this is what leads to such innovations at multiple levels.
This year the Innovation focus will be on:
- Ease of doing business.
- Significant value addition to customers by enhancing their operational efficiency.
- New Technology and Solutions for our customers.
Q. Did you ever feel there’s a better way? What would be your strategy and approach to make the most of this year and beyond?
There is always a better way. The strategy going forward would be to sustain the initiatives taken in the last 3 years and capitalize on our Customer Relations, Technical and Manufacturing capabilities. Build synergies with our current capabilities and resources to offer new products to our customers.We would look at creating value through forward as well as backward integration. The focus would be on pursuing growth irrespective of the Economic or Market scenario.
