How would you describe your personal journey with Premium Transmission?
My journey with Premium has been quite stimulating. I always look forward to my contribution in shaping the future of our company. I am extremely grateful that I have been able to influence the lives of the people associated with our company. My job endows me the drive to explore new ideas and pace up developments within the organization, which help in the overall growth of both the company and the employees.
What is Premium Transmission’s position in India in terms of market share?
With a rich history and experience of 58 years in the industry, Premium enjoys the leadership position in the segment. In terms of industrial gearboxes, we have 20 percent of the total market share and for the geared motors, the market share is nine percent. We are also the largest indigenous manufacturer of fluid couplings in India.
How strong is the Company’s manufacturing prowess in terms of its capacities and capabilities?
We believe that sustainable growth is one of the primary contributing factors in long-term business operations. This aim strives us to provide innovative solutions, which are at par with the technological advances of the industry. To meet up with the evolving industry pace, Premium Transmission has geared up to provide an end-to-end solution, characterized by precision and innovation. With robust R&D, design and engineering expertise, state-of-the-art manufacturing units in Pune, Falta (West Bengal), and Aurangabad (Maharashtra) and one overseas manufacturing unit in Germany, the company strives to grow exponentially in the international market and transform itself into a truly global player.
In addition to this, we are further planning to add capacities in existing plants in Pune, Falta and Aurangabad. Moreover, we are poised to meet consumers’ demand by introducing newer products equipped with potential technologies.
Premium Transmission will be soon launching its first Product Development Centre in Kolkata. How important is this development?
Increased consumer demand and technological advances have accelerated newer prospects for us. The development centre of Premium Transmission, being the first in the Eastern region, unwraps immense potential. Kolkata is the gateway to several prospective SAARC and South-East Asian countries and this is one of the primary reasons for choosing Kolkata for Eastern region’s first product development centre.
This innovation-led development unit, which aims to research and design new products for mechanical power transmission market, is poised to propel growth. Catering services to core sectors like Steel, Power, Oil & Gas, Sugar, Cement, Construction etc., the company strives to introduce energy-efficient products for addressing the present issue of energy-scarcity. This will not only accelerate the industrial growth in West Bengal but also be instrumental in the infrastructural growth of India.
Tell us about the company’s focus in the exports segment.
We are opting for three-fold expansions in our export segment through entering into business collaboration with key partners, who are technology leaders in their respective areas. Moreover, we are aiming to introduce new products in the existing market, which will boost our trades in the export segment along with maintaining a strong presence in custom gearboxes.
Can you share the Company’s future plans to venture into newer markets with eventual business transmission in South-East Asian countries?
In South East Asia market, we already have a very strong presence in mining, paper, palm and sugar industries. We are continuously upgrading our product range and growth partner networks for these sectors. We believe this will help us to grow exponentially in South-East Asian market (Malaysia, Indonesia, Thailand, and Singapore).
What was your turnover in last FY and what is the projection for the current FY?
The turnover last year was Rs.423 crore and this year we are targeting the same to be Rs.465 crore.
What is your vision for the organisation? Where do you see it five years down the line?
Premium Transmission is the only manufacturer of gears in India with the in-house R&D facilities that have received approval from the Government of India. This provides us with the liberty to deliver solutions to diversified industries.
- Our vision is to become an organization, where
- Customer delight is paramount
- Technology and innovation are the levers for growth
- Product quality and EHS are the foundation
- Employees are prime movers
- Sustainable and profitable growth is a way of life.
In terms of numbers, we envision a turnover of Rs.1000 crore by 2025 through both organic and inorganic growth.