In interaction with Parag Jhaveri, MD & CEO of Yasho Industries
Speaking with DSIJ, Parag Jhaveri, MD & CEO of Yasho Industries mentions that the company continues to maintain a sustained focus on research, development, & innovation, and keeping the same in mind, are also looking at continually expanding its product range. Following is the detailed interview:
What is your outlook on speciality chemicals industry in India?
The speciality chemicals domain in the country is highly futuristic and dynamic as it caters to a variety of flourishing domestic industries. Some areas with tremendous scope include meeting the demand for new-age vehicles. With the advent of sustainability, we only expect this demand to grow and are actively producing chemicals that aid in their manufacturing. Furthermore, India is moving along with the world towards a new age of advanced neurotics and medicine. Antioxidants and performance chemicals have a great demand, owing to the modern sanative needs and this is likely to elevate the scope for speciality chemicals in the country.
India is a global leader today in the chemical sphere. Many manufacturing giants all over the world are also moving towards the country for their speciality chemical requirements, as China takes a back seat. So, the prospects are excellent for the domain in the coming years.
What are your expansion plans?
In an increasingly globalised age, the chemical industry is all set to pick up more demand than ever, and we are planning to set up a new plant in the next two years or so. Additionally, since the firm is steadily growing and the European soils are one of our key revenue areas, we plan to put up subsidiaries overseas, to service the end-users. We continue to maintain a sustained focus on research, development, & innovation, and keeping the same in mind, we are also looking at continually expanding our product range.
What are your growth drivers?
Yasho Industries is currently driven by infrastructure development and growth. We are focussing on tapping into the future and scaling up our R&D and plant efficiency to prepare for the demands of tomorrow. In a little over two decades, we have grown steadily to have a very strong customer relationship in about 42 countries and as of 2021, we aim to manufacture more than a hundred high-quality chemical products. Furthermore, as a socially responsible firm, we are looking at creating a legacy of sustainability & green chemistry and this is a key growth driver for us in the coming years.
What is your growth strategy in place? What are your internal growth targets?
Our current growth target is to increase our revenue by about 10-20 per cent on a YoY basis. We are also passionate about creating customer-centric experiences, and for this, we are working towards enhancing our strong international & domestic presence. Today, we have a rock-solid distributor network, and to take client relations a step ahead, we are looking to tap more end users globally and in India.
What are the challenges faced by the speciality chemical industry in India in general and by Yasho Industries, in particular?
Today, chemical companies are mainly facing logistical issues, as a supply chain and the export process is often a complex, streamlined process. Issues like the dearth of containers etc. often cause a delay in the shipping process, especially in the case of heavy-duty chemicals that are exported across continents. This is an issue we also face occasionally, and thus, we are currently prioritising to ensure that all our shipments are delivered on time.