In interaction with Mr. Shujaul Rehman; CEO, Garware Technical Fibres Limited
Speaking with DSIJ, Mr. Shujaul Rehman; CEO, Garware Technical Fibres Limited indicates that Garware Technical Fibres continues to make good progress and is aiming to launch new products. Following is the detailed discussion.
What are your top three strategic priorities for 2021?
We have four strategic priorities for 2021. The first is geographic expansion in both international and domestic markets. Secondly, our continuous growth has been possible because we have a constant focus on our client solutions for which we have a high-tech R&D department which has 20 patents granted so far. At the heart of every endeavour that GTFL undertakes, it ensures that adding to the customer’s bottom line is a prime objective. In 2021, we aim to better our client solutions for identified applications to help our global and Indian clients improve their productivity. Thirdly, we are also looking at deeper market penetration in our key markets. And finally, 2021 will also be the year when Garware Technical Fibres will introduce further new products based on our analysis of client needs.
What is your growth outlook for 2021? What are your key growth drivers?
Despite the pandemic hitting the global economy, GTFL’s Q3 results bear testimony to the success of our continuous endeavour to grow. Our drivers for growth are also the organization’s key priorities. While we will continue to consolidate our leadership in markets where we are well-entrenched leaders, we will also continue to grow in new markets and introduce new products.
Please share with us your revenue mix while highlighting the growth-oriented business segments.
For FY21 ending December 20, the nine-month turnover of GTFL was approximately Rs 700 crore of which the cordage segment contributed to 85 per cent and the fibre, industrial products and projects contributed up to 15 per cent.
What are the key business risks that may make it difficult to achieve your internal growth targets?
The monsoon plays a significant role in our domestic business because our major part of revenue is generated through fishing and agriculture, and that which affects fishermen and farmers also cascades to us. In the international markets, the future impact of the pandemic 19 may have an influence in terms of customer interaction and their investment cycles into placing orders. The habit of eating out might get further restricted and as a result the demand for fish consumption may be impacted. We are leaders in farmed salmon protection solutions, and are among the global leaders in aquaculture, with one-in-three salmon across the globe protected by GTFL solutions. We have fortunately not seen the pandemic impact our international business much.
Who are your customers and at what rate are you adding new customer?
We are a multi-divisional business with reach in various industry segment such as aquaculture, agriculture, geo-synthetics, railways, infrastructure, defence, fishing, shipping, sports, among others, due to which our customers are varied ranging from fisherman-to-farmer to sportspersons-to-truck owners, industrial customers, defence and the major salmon farms across the globe. We continuously focus on entering new markets where we have the potential to grow.