NAVANK, under the leadership of Mr. Naval Singhal, Director & Chief Business Officer, is planning technology-based backend integration of manufacturing, freight management, local warehousing, transportation of products, and finally product sales on a JIT basis. In an interview with Wire & Cable India, he shared about Navank’s market footprint, USP, and future plans. He also shared that the company is planning to set up two warehouses in India, for which North and West regions of the nation have been identified.
“We work with the biggest cable companies worldwide, which helps us in identifying the market and industry trends quite early. Our top clients in India are KEI, Havells, Gupta Power, Sterlite Power, APAR, Dynamic Cable, Special Cable, GemsCab, Sterlite Tech, HFCL, HTL, and Polycab, to name a few.”
Wire & Cable India: Please shed some light on OFC and power cable market trends from Indian and international perspectives. Do you detect some key changes in the near future?
Mr. Naval Singhal: Optical fiber and power cable market is expanding at a consistent pace and is bound to see a similar trend for at least the next 5 years, due to customer’s expectations for higher data speed supported by more acceptance of internet-connected devices (IoT) through 5G, video games, higher demand for OFC is certain. Industry 4.0 will fuel the demand for OFC in the near future. Industry 4.0, also called the Fourth Industrial Revolution or 4IR, is the next phase in the digitization of the manufacturing sector, driven by disruptive trends including the rise of data and connectivity, analytics, human-machine interaction, and improvements in robotics, and ofcourse, autonomous vehicles and drones.
Similarly for power cables, we expect the market to keep expanding as well due to the overall rise in consumption of power. The key change in power cable is definitely towards green energy and we see most of our customers moving towards cables for solar/PV, wind energy, EV charging, etc. This will drive a lot of growth in the power sector for years to come.
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WCI: What is Navank’s market strategy in light of ongoing market trends?
NS: Navank has always been focused on the needs of the market. We work with the biggest cable companies worldwide, which helps us in identifying the market and industry trends quite early, and then we approach work collaborations with our key customers and partners on those products.
WCI: What is the USP of Navank that makes you relevant and important for your clients?
NS: Innovation drives changes in the industry and Navank has continued to partner with the most innovative companies in the optical fiber and power cable segment, owing to our strength in the sales and marketing of these products since 1998. This makes us valuable to both our customers, to launch the product quickly, and partners, to help them drive sales growth. For instance, NAVANK has contributed high-growth to WANMA, China-based manufacturer of XLPE, and semicon compounds, which has grown 25 times in the last 4 years from sales of 200 tonnes in 2018 to more than 5000 tonnes in 2022. We have further set a target to grow the sales to over 10,000 tonnes by 2025.
“This would help us onboard more innovative companies on our platform and drive growth for such partners and their products, thus helping us achieve our vision of a USD 100 million company by 2030.”
WCI: Please tell us about your market footprint and major clientele.
NS: Our focus for now has been the Asian market with a primary focus on India as it has been identified as the fastest-growing market for optical fiber and power cables, with huge potential for the next several years.
Our top clients in India are KEI, Havells, Gupta Power, Sterlite Power, APAR, Dynamic Cable, Special Cable, GemsCab, Sterlite Tech, HFCL, HTL, and Polycab, to name a few.
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WCI: Can you tell us about the recent developments that Navank has invested in?
NS: Navank is heavily investing in the Indian market. We have recently identified that a lot of our customers want us to stock our products near their plants and provide JIT deliveries. So we are building two warehouses in India.
The first one will be based in West India, Silvassa, with a key focus on OFC products, such as water-blocking tape, water-swellable yarns, ECCS and CJB steel tape, foil mylar tape, etc.
The second warehouse will be based in North India, Delhi-NCR, with a focus on power cable compounds, such as XLPE 11/33 kV, Semicon, FR XLPE, Sioplas, and Monosil XLPE compounds.
“Navank is heavily investing in the Indian market. We are building two warehouses in India to provide JIT deliveries to our customers.”
WCI: Please share your company’s plans for the future and your focus going forward, alongside any additional information that you might have for us.
NS: Navank intends to be an IT enabled company in the next few years, which would help streamline the quick procurement of raw materials globally, into any geography. We are ready with all the key building blocks required to be a tech company from back-end integration of manufacturing to freight management, local warehousing and transportation of our products, and finally product sales on a JIT basis.
This would help us onboard more innovative companies on our platform and drive growth for such partners and their products, thus helping us achieve our vision of a USD 100 million company by 2030.
