What is keeping you busy these days? Currently, what are the focus areas of operation for Gupta Power?
In this times of crisis, where thousands of people who have lost their near and dear ones in large numbers during the COVID-19 pandemic, it is my duty to ensure that everyone associated with Gupta Power including our channel partners, employees and our dear customers are safe and sound. The coronavirus outbreak is a test of our systems, values and humanity to check my immediate family and my employees who are my second family that they are healthy and safe.
As the COVID-19 pandemic’s second wave rolls well into FY2020-21, the Government have been focusing on containing the infection and ramping up healthcare infrastructure. The nationwide lockdown saved lives but caused massive income loss and production loss, and an overall weak financial performance. COVID-19 coupled with economic uncertainty in several states led to disruptions in the production and supply in the wire and cable industry.
The key is diversification and a backward integration strategy during this time. We are trying to diversify our business to a great extent. To sustain as a growth leader, it’s crucial to diversify to minimise the economic risks inflicted by COVID-19 lockdowns. Besides, Gupta Power aims to sustain the growth trajectory by virtue of its continuous and relentless focus on product quality, manufacturing expansion, technological knowhow, and robust customer service. We are trying to minimise risks associated with future lockdowns by focussing on these key areas. Hopefully, they will yield results.
What are the key factors behind the success of Gupta Power?
It’s easy to be successful once but the key is to sustain it during times of crisis. Many businesses across sectors are suffering the biggest losses, production cuts, employee layoffs. In my opinion, whatever the situation is, continuous focus on research and development and product quality are the key factors that have helped us.
Gupta Power is committed to its customers and hence has reduced its prices to more reasonable figures without compromising on quality. Developing high quality and innovative smart products that are safe and dependable is the only way to gain credibility in the current market. The focus on technological innovation is a smart way to ride through these uncertain times and we plan to direct our efforts towards these factors. Increasing demand and awareness for renewable power generation can also drive the growth for the wires and cables industry and we are up for it.
On top of all, I cannot thank our channel partners and employees enough for solidly working as a close-knit family and supporting the company during a period of economic downturn. They are the heart and soul of the company that keep it running.
How has the COVID-19 pandemic affected sales and marketing in your company?
No doubt, the pandemic induced lockdowns have affected the usual flow of business and on-field activities like sales. But to stay ahead of the curve, we need to rethink and reinvent the marketing strategy. Gupta Powers has been at the forefront of innovating new and fresh channels of sales and marketing by capitalising on online channels that are huge in this digital age.
Construction and manufacturing activities have mostly remained exempted from lockdown measures and will not have a multiplier effect on economic growth given its linkages to various industries like in the year 2020. Due to the rather stable demand in wires and cables currently, our company expects substantially higher growth in revenues from the electrical cables segment over a period of time owing to its well-spread sales and distribution network. We also plan to add products to our already vast portfolio.
The electric wire and cable market in India is expected to grow by USD 1.65 billion, at a CAGR of almost 4% during 2021-2025. So these are positive signs to look forward to.
Our strategy to increase the production capacity and focus on the latest developments in smart cables, smart conductors, smart LED lightings, smart optic fibre cables and smart GIS substations up to 400 kV figure in the scheme of things. Future alliances, partnerships and expansions are also a part of the plan and we will plan it to the best of our strategic interests
What’s the heart of the business philosophy of your company?
Touching Lives and Empowering People. At Gupta Power, this is our core business mantra. We strongly believe and envision this philosophy and attribute our success to turning it from a simple statement to reality by empowering thousands of lives through our products and services.
This was the core philosophy when we started out as a small set-up in Bhubaneswar in 1961 to the present times when we are a family of more than 1800 employees across various cities in India,, Our focus will be on the key fundamental of business, that is, delivering quality products at a low price and touching the lives of people. It has been a long, arduous but immensely satisfying journey. That is how I, as a leader of the organisation, strive to take Gupta Powers forward. We believe that this mantra will continue to hold good for future years and prove to be beneficial for our long term viability as it has over the years.
As an ethical and responsible business owner, I wish to state that during these times of crisis, it’s our moral duty to rise up to the occasion, stand by each other in whichever way possible and prove to be resourceful to our people and country when they need us most.