Tell us about your manufacturing capabilities and capacities? How much of your capacities are you utilising currently?
Vectus has a total of 12 manufacturing facilities in eight states in India processing approximately 75,000 Mt of polymers annually. The capacity utilisation of tanks is approximately 66 percent whereas that of pipes and fittings would be approximately 70 percent.
Continuing from the above, tell us about your R&D activities? How important is innovation in your journey?
Vectus Industries is following four pronged strategy to drive future growth - 1. Product Innovation, 2. Capacity expansion, 3. Focus on quality products, 4. Increased penetration through branding.
Product innovation has always been at the core of the company which is driving its growth. Vectus is the first company to introduce blow molding technology for water tank manufacturing in the world. Moreover, the Company has always been innovative and have kept on adding new products in its portfolio.
Starting our journey of innovation in 1989 with Roto Moulded Tanks, we diversified into Pipes Business (PPR & PVC) in 2004. In the year 2009, we started manufacturing Blow Moulded Tanks and other Moulded Product. Later in 2010, we ventured into CPVC Pipes and in 2015 we started manufacturing four layer Tanks. In 2016, we have also entered column and casing pipes manufacturing. Still, we have a large number of innovative products on our radar which we plan to roll out soon.
What is your approach to quality?
Quality is another growth driver of our Company. Vectus is committed to deliver high quality products to its customers. We always produce such products that meet and exceed our customers' expectations. Customer satisfaction is the only motto of our Company.
What is your take on our PM's ‘Make in India' initiative? What are the challenges and opportunities for your industry?
The honourable prime minister's ‘Make in India' initiative is a wonderful program which apart from increasing exports, opens huge investment opportunities in India, besides generating greater employment and boosting the economy. The initiative is also expected to help in providing ease of doing business by eliminating redundant policies and bureaucratic practice
The key challenges that the industry is facing currently is the competition from the unorganised sector. Today, the tank industry is highly fragmented with 65-70 percent of the market segment is in the hands of the unorganised sectors which resorts to various means of tax evasions and unlawful activities. The Government's initiative of launching GST will have a positive impact on the industry which is expected to curb these unlawful activities going forward.
Are you also looking at the exports market?
No, currently we do not have immediate plans for exports.
What is your personal vision for this organisation?
To continuously innovate and develop polymer based solutions for enhanced living and to become India's most efficient and innovative polymer processing capability.
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