The Indian market for industrial pumps is estimated at Rs 8,000 crore. What is your share in this market and how fast are you growing? Where do you see your firm in the five years in terms of market positioning?
We have already forayed into the industrial pump segment and we are growing at an impressive rate. We believe that the addition of new pumping products for industrial applications will help us to boost sales of industrial products.
We are committed to working on R&D to enhance and upgrade our product portfolio for industrial applications. Our vision is to be among the best brands in this segment in the next five years.
To what extent do Chinese products affect the growth of the pumps segment?
When it comes to Chinese products, Indian manufacturers in general view them sceptically from a quality perspective. However, as of now we do not find Chinese products as a threat to Indian industry as far as the pump industry is concerned. Our only concern is about poor service support network.
What are the other key challenges faced by your industry and how are you tackling the same?
Pump industry in general is extremely fragmented with many players in both organised as well as the unorganised space. The unorganised players in pump industry collectively hold a major part of the total market share and organised players hold relatively less share of the market. This is due to the short term approach and lack of awareness about the quality by end users.
Secondly, the farmers and rural buyers in general look for relatively cheaper pumps manufactured by unorganised local manufacturers. Such pumps consume high energy and their overall life cycle cost will be higher than that of an energy efficient stainless steel pump. We are constantly striving to convince customers about the quality and energy efficiency of pumpsets that will prove beneficial in the long term to the buyers.
Tell us about your manufacturing capabilities and capacities. Any plans for expansion?
We have a state-of-the-art manufacturing facility strategically located in the central Indian state of Madhya Pradesh with a capacity of five lakhs pumps per annum catering to various customer segments for diverse applications. We use high tech advanced fabrication technology with robotic aid to manufacture superior quality pumps and motors to maintain consistency in quality and durability.
Our world class manufacturing facility is equipped with modern Mazak CNC Machines and other precision equipment to meet the benchmark quality and productivity standards. Current installed capacity is more than enough to cater to market demand in the domestic as well as international markets.
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