The last one year has been better than compared to the last few years for Trinity Engineers. "This is majorly attributed to the positive market sentiment primarily owing to the focused strategy to diversify our customer profile from automotive to non- automotive sectors like oil and gas, power, defence and general engineering," Pasricha informs.
Over the last three years, Trinity has been focusing on up-gradation of resources both equipment and manpower. "The main objective has been to improve the overall productivity and spruce up capacity utilisation while breaking down cost rather than expansion of capacities."
Pasricha is aware that as elsewhere in the world, the forging industry is still heavily dependent on the automobile industry with demand for forgings essentially originating from commercial vehicles and off road vehicle (Tractors) in terms of tonnage, and other four-wheelers.
"The industry is still recovering from the impact of the global economic slowdown on the Indian automobile sector that led to decrease in demand on one hand and on the other, the cost of major inputs like power, steel, fuel and skilled manpower spiralled," she says.
The slowdown however highlighted an inherent shortcoming of the industry and that was the over-dependence on auto sector. "The need of the hour is aggressive diversification into non-auto verticals both at the level of individual companies and the industry on the whole. The current level of diversification stands at 39 percent and needs to be pushed significantly," he believes.
As a part of the Association of the Indian Forging Industry (AIFI), Pasricha strongly feels the need to reduce dependency on the automotive sector. "Conscious efforts are being made continuously by the industry towards upgrading technologies and diversifying product range to expand its customer base to emerging sectors including aerospace, energy, oil & gas, heavy engine parts, defense, construction equipment, power generation, transmission and distribution."
Trinity Engineers' current turnover is Rs210 crore. And Pasricha's target for 2020 given the current scenario should be about Rs300- 320 crore. His vision for Trinity Engineers is to see the company carve a niche for itself as one of the leading and trusted players in both auto and non auto forging space in domestic and international market. "By 2020, I hope to achieve a healthy mix of consumer profile spread across auto and non segments.
In the short term, this will translate into Trinity focusing its energies towards improving efficiencies / utilisation / productivity of existing resources; technologically, manpower and equipment wise. "Planned investments will go in to expansion as and when required to meet growing demand," he states.
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