Growth and Development are included in every organization’s mission and vision, however, clarity is required in planning and execution to transform them into a reality. Special Cables Private Limited can boast of having this clarity, something which has made them sustain in the market for over 35 years, and will continue aiding their expansion and growth in the coming years. While participating in ELECRAMA 2023, Mr. Mukul Khanna, CEO of Special Cables, spared his precious minutes to discuss with Wire & Cable India the exhibition, participation theme, and industrial and organizational future. His answers reflected the company’s readiness for the future, especially with the product diversification, process automation, and capacity expansion plans, already ideated for execution.
Wire & Cable India: Please introduce us to your company and its major milestones.
Mukul Khanna: Special Cables began its business operations in 1982, that is more than 35 years ago, in Delhi as a quality manufacturer of special-purpose cables, including screened, co-axial, and telephone cables. Over the years we grew our product portfolio to include LT power cables, control cables, fire survival cables, solar cables, rubber cables, railway signalling cables, house wires, etc. We were amongst the first few companies in India to get BIS certification for aerial bunched cables. Our management systems have been ISO certified for more than 25 years. In 2010, we established state-of-the-art modern manufacturing and testing facilities at Rudrapur, Uttarakhand, to increase our business volumes. Since its initial establishment, the Rudrapur plant has been helping us enhance our capacities from time to time. The customers we supply to are all major contributors to India’s infrastructural growth. In fact, Special Cables has successfully established itself as a trusted brand in the power, steel, and fertilizer industry for the supply of all types of low-voltage cables. In 2000, we became part 1 vendor for signalling cables to the Indian Railways. We are also among the few vendors selected initially to supply to DMRC, and eventually other metro corporations across India.
Our customers have recognized our services from time to time, for instance, we received the Best Supplier Award from Mr. Ratan Tata and BHEL. Recently, we also have gained recognition as a Star Export House. It has been our observation that the wires and cables industry has been becoming increasingly competitive, especially with an upcoming period of growth and profitability. In such a scenario, it is important to create a solid foundation for oneself and safeguard it. Special Cables has created a stronghold by continuously striving for quality assurance and timely delivery. This is our core mission to remain the preferred supplier to our valued customers. Customer-centric focus helps us identify their needs, which we strive to fulfill through continuous innovations in our processes. Process innovations help us deliver high-quality products at competitive prices.
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WCI: Can you enlighten us about the current market trends and your company’s market share?
MK: We have seen the highest budget allocation for infrastructure projects in the Financial Budget of 2023-24, which could be expected to provide a great impetus to the economy and industry.
Airport development, railway electrification, and EV charging infrastructure are also ongoing at a rapid pace and are expected to continue growing for the next couple of years. The country is also investing in the exploration of different energy sources and their applications. India has a target of installing a renewable energy capacity of 500 GW by 2030, which shall provide momentum to significantly large projects and the addition of battery energy storage systems in these plants. Major advancements and research are ongoing in developing hydrogen power technology. Nuclear technology applications are also being expanded with 20 nuclear power plants expected to be commissioned in the next seven to eight years.
A period of prosperity, growth, and advancement is upon us. The best thing is how the government and industry are moving together, which will help India to harness the best out of this period. As I previously mentioned, we have been recognized as a “star exporter” so our client base exceeds the territorial boundaries of India. Globally we have managed to create an important presence by servicing customers in Europe, the Middle East, Australia, South America, Africa, and South East Asia. However, satisfaction is not a boon to any business and we wish to expand our global footprint in the coming years.
WCI: Does your company invest in R&D, if yes, please share some features of your development process?
MK: Innovation has been the driving force at Special Cables. We keep developing and adding specialized products to our existing portfolio. Our new products are being developed with a focus on meeting various stringent international fire resistance requirements. Some of our recent developments have been from various international standards, such as AS/NZS, SANS, etc. Specialized elastomer cables, Cables for marine & offshore applications, airports, and cables requiring UL/CSA approval are also in the works.
Apart from developing new products and diversifying existing product lines we also work on improving and innovating our production and process control. The health of the production lines and process is a determinant to providing high-quality products at economic prices.
WCI: Please explain your theme for Elecrama 2023, and what you seek to achieve from it.
MK: It is the general need of the current times that economies power the future through clean & sustainable energy. We have to hand over our establishments to future generations, and we owe them a clean and sustainable future. There is a growing concern over climate change and the carbon footprint generated by companies, economies, and the general public. This has pushed technological advancements in the field of renewable energy.
Elecrama 2023’s theme is in line with this need of the hour, which is a boon for the industry. Elecrama 2023 has provided a unique platform for industry experts and participants from India and other countries to interact, exchange ideas and work jointly to further our efforts toward green and safe energy.
Results might lie in the future but our efforts in the present will make them suitable.
WCI: What are your general observations about Elecrama 2023 and how do you see the market developing in the future?
MK: Positivity and hope are important for any industry and for ideas to grow and take effect. Elecrama 2023 is a global platform and it is good news for the industry that the two attributes were a consistent part of the exhibition. The exhibition has persuaded the industry to look forward and dream of a successful and sustainable future. It helps not only the new entrants but also the experienced players to reach out to new customers and market players. We wish to build on this. The exhibition has fuelled our enthusiasm about the economic outlook. We can clearly calculate our actions for the next five years and expect them to translate into good business volumes and newer opportunities in the said period and years to follow.
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WCI: What are the CSR initiatives that your company has undertaken?
MK: Special Cables has always been conscious of its social responsibility. We understand that giving back to society can take different forms of service. Firstly, we contribute as a social unit by directly catering to the needs and welfare of society, regularly providing scholarships to underprivileged children, and making contributions to charitable organizations, NGOs, and state, and national funds. Secondly, we are working towards a sustainable future and making improvements in production processes to improve energy efficiency and reduce our carbon emissions.
WCI: Please share your company’s short and long-term future plans.
MK: We have already undertaken the production capacity expansion project, under which we are working towards the enhancement of infrastructure for the current product range by approximately 25-30 percent. Our overall capacity expansion will be twofold, in terms of existing products and investment in new products. We have developed some new products as a result of our in-house R&D. These developments look promising and we will invest in launching them to existing and new markets. We expect the ongoing NABL accreditation of our in-house lab to be completed in the coming months. This will further enhance our credibility among our customers in reference to the existing and established product quality.
Additionally, Special Cables is religiously looking to expand its market footprint in the market by appointing new distributors and opening new channel sales.
