Covid-19 induced lockdown has battered almost all the industries, steel industry being one of them. How has your organization performed in this pandemic period?
In my opinion Covid 19 has come both as a challenge and also as opportunity for our company. It is a challenge as there has been setback in terms of economic activity and resultant demand. The lockdown also has dealt major financial losses to all core sector industry due to the size and scale of the industry. Our company has also taken it as an opportunity to revisit our processes in light of pandemic. We are now working towards increased digitization of various processes, increased automation at shop floor, broad basing our product / brand portfolio and productivity enhancement initiatives which would yield long term benefits for our company.
What is your take on the steel industry? What is your assessment for the next financial year 2021-22?
There are a lot of major infrastructural projects which have been announced by the government across various segments like highways, ports, railways, freight corridor, riverine infrastructure, etc. Further, due to major reduction in home loan interest rates by banks it is expected to result in positive demand traction for real estate sector. All in all I feel that FY 2021-22 should be a positive year for steel industry.
Where will the maximum demand for the industry come from? Which are the products you have introduced in the recent past? Are there any plans to introduce a few more products in the next two years?
The major drivers of demand shall be infrastructure, real estate and individual house building segment. We have introduced for the first time in India branded window & grill steel Sections like MS Angles, MS Flats, MS Squares, Z–Angles, Gate Channels with legendary actress Madhuri Dixit as our brand ambassador. We are currently exploring few prospective product introductions in construction and real estate segment.
Digitization, IoT, Robotic process automation (RPA), Automation, Artificial Intelligence, data analytics, play a key role from steel product manufacturing to final delivery. How has the implementation of these technologies changing your organisation for the better?
We are currently in various stages of exploring the implementation of IoT, AI & data analytics in our production, supply chain, sales & CRM. These are new technologies with few established case studies. We believe implementation and on boarding of these technologies are critical for future of our company. I see implementation of these technologies happening in a phased manner over next 2 years in our company.
How does the remedial ‘anti dumping duty’ imposed by the government for cheap import of steel benefits / affects India steel sector in the long run?
Steel industry has always played critical role in achieving the vision of ‘Atmanirbhar Bharat’. In fact steel is one of the few sectors wherein within few decades post independence India achieved self sufficiency to a major extent of our domestic requirement. Therefore, protecting the interest of this key sector is a must for our country. The remedial ‘anti dumping duty’ imposed by the government for cheap imports of steel is a much needed step in the right direction.
To keep ahead of the competitors an organization has to innovate and improve on its products. What are the R&D efforts you are taking in this regard? Please share with us your Technical Collaborations in this regard?
Our Company has been at the forefront in 360 degree innovation in our segment of steel manufacturing. We have in the past achieved registration of patent, trademark & copyright with regards to various product and process innovation which have been first in the industry. We are currently having license to manufacture TMT from CRM Belgium. We are also in collaboration with ZINGA Metal, BvBA , Belgium to manufacture advanced anti corrosive Zinga coated TMT bars. We are also currently in discussion with few overseas technology consultants for implementation of unique process improvement projects in our works.
What are your plans for the next three years? Are there any plans to acquire steel plants or new plants or products launch in the offing?
We are currently undertaking organic expansion at our existing Duragpur plant which involves capacity enhancement by setting of additional EIF furnaces & capacity enhancement of our existing mills by mid 2021. We are also planning to undertake greenfield expansion of new mill with integrated furnace at a new site by mid 2022.
