How does your product portfolio look today?
We have the right product mix addressing the diversified and dynamic needs. Accepting the pulse of the modern Indian kitchens we have introduced a whole new categories and products. Some of the key mentions here includes our very recent launches Platinum and Ultimate Cookware sets. Our Platinum Cookware is one of the most path breaking products not just at Vinod Cookware but also for the Indian Kitchens.
Our ‘Platinum Series' - a testament to the modern Kitchens, with three-layer construction. First layer is a coat of SS304 Food Grade Stainless Steel; second is an aluminium core for even, consistent heating and the third layer is SS430 Magnetic Stainless Steel which is specially designed for both the home and industrial kitchens as it is induction friendly. Next being Ultimate Cookware, India's first Cold forged technology blending Indian cooking methods and keeping it in priority.
Have you launched any new product recently? Tell us about the same. What is the frequency of new product launch for Vinod?
We tend to launch around 2-3 Products in a Quarter. The frequency of our launches varies. I can't be specific but generally it is defined by the ongoing festivity too. In terms of our newest launches we have the ‘Platinum Cookware' one of the first in India with Triple layered construction, superior food grade 18/8 stainless and SS 430 magnetic stainless steel supports Induction cooking.
Platinum is designed three times more energy efficient than cast iron. With Vinod Platinum experience the ease of fast and stress-free cooking is here. The next being Ultimate Cookware set. Appealing to the eye, this ultra-durable coating has a heart of stone—it is fork-proof, metal-safe and extremely scratch-resistant, increasing the lifespan of your pan - Use it to Believe it!
Obviously, you have a big focus on innovation. Tell us about your R&D activities and infrastructure.
A market leader in its core business, Vinod Cookware has seen no slow down and is well placed to overcome the industry pressure making it the only company showing a steady growth as compared to a de-growth for the industry.
Notably, Vinod Cookware is a debt-free company, with strong reserves, which enables it to expand organically and inorganically. With a big manufacturing unit in Palghar spread over seven acres (near Mumbai), Vinod Cookware has been growing steady and strong. Our R&D Team is focussed on changing consumption patterns, new trends and bring confluence of technology and needs.
Vinod Cookware products have been loved and appreciated. Fuelling the needs, we recently have bought land in Gujarat and are currently working aggressively on its set up. Our current capacity at the plant holds 6000 metric tonnes and we intend to revise the figures very soon.
How has been the business in the ongoing fiscal? How does it compare to the growth in the previous fiscal?
Yes, the business has seen a very dynamic year - GST, Demonetization etc - All key events packed in one year together. However, Vinod Cookware has sailed through, and though it was a turbulent period, it was quite short lived for us. The business for ongoing fiscal has been dynamic and compared to earlier fiscal has been slow.
At present, what is your turnover and what kind of growth targets have you set for the next two years?
We are a Rs.150crore + company and in terms of targets we aim to be Rs.180 crore.
Who are your key competitors and what is your market share vis-a-vis these rivals?
Prestige and Hawkins remain our key industry competitors. In terms of market share we strike dominance in the pressure cookers & non-stick category.
Any plans for expansion?
We have recently begun operations in Nepal which has definitely worked in our favour. Expansion into new segments and geographies has helped drive revenues and increase market share of Vinod Cookware. We have the largest share of retail markets across major cities in India and have been targeting the regional market segment with competitive products in line.
About 50 percent of the company's turnover comes from the Northern Region which has made a strong foothold in Vinod's Growth and business. Apart from which we have strong presence in Western India where Mumbai, Pune and Gujarat have been key for us. While for the East market, we strongly dominate Orissa and Bengal.
Tell us about your exports business / plans.
Export has been our strongest pillar, along with retail presence we have clocked good numbers there too We are the largest exporters of Stainless steel utensils from India.
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