HD Wires Private Limited, having turnover of INR 500 crore with manufacturing capacities of 1,20,000 MTPA, aims to reach the capacity of 2,00,000 MTPA by 2030. This was revealed by Mr. Dilip Dev, Chairman of H.D. Wires Private Limited, during his interaction with the Wire & Cable India magazine.
Wire & Cable India: Please share your views on the Indian vis-a-vis the global steel wire industry. What is the role of the Indian government in the growth of this sector?
Dilip Dev: China, Japan, Europe and the USA are facing issues with their economy. The growth in these geographies will be slower as some of the economies are shrinking (particularly China and Europe). However, the Indian economy is showing robust growth due to better fiscal policies and strong allocation on developing infrastructure projects. The steel demand is estimated to grow at 6 percent. This is also envisaged in the steel policy by the government of India, which has shown a projection of 300 million metric tonnes steel by 2030.
Many steel wire mills are expanding their capacities and some are adding new greenfield wire capacities. Considering the worldwide trend of diversification of supply chains on China Plus One (C+1) Strategy and the Indian government policy initiatives like the Production Linked Incentive (PLI) Scheme, the Aatmanirbhar Bharat Abhiyan etc, the import of steel /steel wire will go down and exports from India will rise. This is backed by new mega infrastructure projects like eight new bullet train projects, ballastless railway tracks, port development & port connectivity projects, new expressways etc.
WCI: What are the major ongoing challenges in the Indian steel wire industry?
DD: Some of the major challenges being faced by the Indian steel wire industry include the economy of scale, lack of research and development (R&D), lack of modernization of wire drawing units and higher logistics cost in India as compared to other developed nations. Besides, dependence on primary steel producers for timely wire rod availability has become a challenge due to their production plans and made-to-order situations.
WCI: How can these challenges of the industry be addressed? How is your company contributing towards this transition?
DD: The emphasis on developing world-class infrastructure like roads and rail network, dedicated freight corridors as well as opening of new inland river shipping routes and increased speed of goods train, will definitely reduce the logistics cost in the near future. Most wire mills are actively considering the modernization of their existing facilities in order to reduce the cost and technological upgrades. We at HD Wires Private Limited (HDWPL) have worked on upgrading the galvanizing lines & investing in product branding and developing sales channels in central & western parts of India. We are also planning to diversify and actively looking at the market opportunities, which are unfolding now. We are further committed to infuse the required funds in our existing wire businesses to encash the market opportunities, both at home and overseas.
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WCI: Could you please take us through the business journey, milestones and achievements of your company?
DD: HDWPL was established in 1988 with a modest turnover of INR 1 crore and today, we are an INR 500 crore plus company with manufacturing capacities of 1,20,000 MTPA.
We are one of the major suppliers to the cable industry in India, growing at a very fast speed in the auto segment also. We are also a preferred choice of customers in the business. Our company has reached great heights in the past decade and we are now recognized as a reputed brand in retail business in the central and western India for the farming segment.
WCI: Brief us about your specialized products along with their USPs. Share information about your market clientele as well.
DD: We are one of the eminent manufacturers, suppliers and traders of an unlimited compilation of galvanized wires and wire products. Our product collection encompasses flat cable armoring wires, round cable armoring wires and aluminum conductor steel reinforced, which are proffered in a diversified range of specifications, to cater to the several demands of our esteemed purchasers in the business. Applauded and welcomed for its tough construction, durability, excellent resistance to corrosion, lightweight, ease of installation and minimal maintenance, the series is highly sought for.
Our USPs include adequate capacities, timely deliveries, prompt after-sales services, and superior & consistent product quality.
All major cable manufacturers in India, conductors manufacturers, major construction companies and farming segments are our clients.
WCI: What have been the recent developments at your organization and what are your future growth plans?
DD: We are in process of expanding our base in chosen products, both in Indian and overseas markets, including cable armour wires, galvanized wires & wire products, construction industry, spring steel wires, and patented base wires. Our target is to reach the volume of 2,00,000 MTPA by FY2030.
WCI: Describe your infrastructure and manufacturing setup for the steel wire sector along with their manufacturing capabilities.
DD: We have state-of-the-art wire drawing machines, environment-friendly descaling facilities, and heat treatment facilities like annealing, patenting furnaces & galvanizing lines. The plant is equipped with all required facilities for storage & handling of wire rods (raw material) and finished goods.
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