Y Srinivas Reddy, Managing Director, Bevcon Wayors
The need of the moment is to think calmly, be down to earth and strategise plans for long-term results, all with the highest optimism.
For the last two years, the business of Indian bulk material handling has been riding a very bumpy road filled with potholes in the form dynamic fluid situations, uncertainty, ambiguous status, and other such obstacles. No organisation can sustain itself in this environment unless business leaders have the courage, conviction and adaptability to handle the crisis and accept the fact that this turbulence is here to stay for a long period. The need of the moment is to think calmly, be down to earth and strategise plans for long-term results, all with the highest optimism.
India being the world's second largest populated country, does have rich resources and highly talented human potential. Moreover, seeing that it will hold the world's youngest population by the next decade, the vision of an energetic, young, vibrant country with very good growth potential as per the 12th Plan for 2012-17, is a good one, indeed. Investment in infrastructure is going to be nearly ten per cent of the GDP; if this planned investment is realised, it will offer abundant scope for the Indian bulk material handling business to grow.
However, the demand-supply projections at current level are unpredictable and ambiguous; nearly Rs 10 lakh crore worth of projects are stalled for want of government clearances. Then again, in spite of the current complex situation, Indian bulk material handling has a very bright future. We need to hold on to that optimism. I am positive that the government will act on clearing the hurdles facing pending projects by giving revised policy guidelines on the specific areas of concerns.
Need of the hour
To propel the high potential growth engine, the government has to lay the perfect track which will include the following factors:
Accountability at decision-making levels of bureaucracy. Investment-friendly, transparent industrial promotion policies. Eradication of red tapism and creation of single-window clearance process. Empowerment of financial institutions to promote and fund projects. Time-bound irreversible economic plan to be implemented.
Once the track is laid and monitored, I'm sure the Indian bulk material handling business will be set for rapid growth in the coming years.
Bevcon strongly believes that three crucial growth drivers for organisation development are innovative technologies, financial discipline, and people management.
Making a difference
The source of inspiration for the Bevcon innovation model is that constraints will always exist and creatively operate within them. Technology transfer collaborations and in-house innovations have played a major role in organisation growth. We have collaborated with various companies in Europe and the US for technology transfers to bring the world's best technology to India, things like the unique conveying system called sandwich, high angle conveyors, cross-country conveyors of both trough and pipe, stackers and reclaimers, etc. We have strong in-house innovation centre, Bevcon management focuses on the 'people first' philosophy. We are promoting innovation across the organisation, with the average age group of 35 years; 78 per cent of the total organisation has an engineering background and highly motivated, empowered teams, consistently delivering breakthrough innovations for the critical applications and challenging customer in the last two decades.
Bevcon produces a number of products aiming at:
Technological upgradation is mandatory to survive in the present competitive world. At Bevcon, we strongly believe that innovation is the key growth factor for organisational sustainability in the long run. Undoubtedly, Bevcon has made a difference to the Indian bulk material handling industry by contributing innovative concepts and solutions and producing new generation material handling products.
A highly evolved culture of financial discipline needs to be in place at every level, followed by self-reliance concepts across operations to achieve operational excellence in every domain of the organisation, to enable us to sustain ourselves in all-weather business conditions. Bevcon can proudly admit the fact that it is a debt-free organisation with 20 years of an excellent track record, with a CRISIL rating of A+++.
People-engagement makes a difference to the organisational growth. A good corporate culture embedded with core values could be the winning edge for any successful organisation. Our teams follow our core values, which we call the 'i TREAT' representing the values of innovation, trust, reliability, empowerment, attitude and transparency.
During these turbulent times, Bevcon took the opportunity and strategised various growth-oriented measures to gear up to meet future business challenges:
"Turbulence is the beginning of a fruitful process of transformation," according to the Pepsico chairperson. Holding onto that hope, we can anticipate that the Indian economy is going to bounce back and grow better.