“At present, a major portion of the installed capacity is catering to the export market; there is a growing domestic demand which has opened new avenues for further expansion. The per capita consumption of stainless steel is increasing and wire as a product has multiple uses,” says Mr. Anubhav Chand Kathuria, Director, Synergy Steels.
Synergy Steels Limited (SSL) is one of the fastest growing pioneering Stainless Steel manufacturing in India. A flagship company of Synergy Group, SSL has emerged as a quality manufacturer of stainless steel flats, billets and wire rods. It produces around 1.5 lakh tonnes of stainless steel and its rolled products with an estimated turnover in excess of 1000 Crore for the FY 17-18.
The company has a state-of-the-art industrial set-up with customized plants equipped with the latest technology-driven machinery. The major stainless steel and rolling mills are based out of the Matsya Industrial Area, Alwar (Rajasthan). SSL has emerged as a ‘Total Steel Venture’ of sorts within the short span of its inception in two decades. It also showcases an enviable clientele, which gives the company an edge over other players of the industry.
WCI recently had a brief interview with Mr. Anubhav Kathuria, Director, Synergy Steels. Excerpts:
Wire and Cable India: Please update us about your existing product portfolio along with production capacity, facilities, machinery, and technology. Which all industries do you cater through these products?
Anubhav Kathuria: We are currently manufacturing stainless steel wire rod from 5.5 – 16mm. Future products include SS wire from 1.8 – 5mm, bright bar from 4.8 – 60mm. We are a rolling mill with integrated SMS having annealing and pickling facility with a bright bar and wire drawing facility that is in the process of being set up. At present, we are supplying to chemical industry, food processing industry, welding rod, fasteners, wire & bright bar manufacturers and various other industries.
WCI: What are the new emerging trends with regard to existing production and demand in the steel wire segment? Where do you see this market moving in the future?
AK: A conscious shift has been observed among customers to move from mild steel to stainless steel for new investments. Stainless steel wire is finding applications in fasteners, chemical industry, food processing industry and various other industries. The annual growth rate in the industry is estimated to be 12 percent as per ISSDA.
WCI: Have you planned any investments for capacity expansion, plant addition (new plant), or technology up-gradation or on any other front? If yes then please share details.
AK: Our facility for manufacturing wire rods was commissioned in 2016, and as a part of our forward integration expansion strategy new investments have been made in manufacturing of Bright Bar and wire drawing facility in the same complex.
WCI: In addition to the above question, what are the growth areas for your company? What’s your strategy to get maximum benefit from these opportunities?
AK: We as a company are currently focused on domestic sales and along with increasing our domestic sales, we see exports as an opportunity to expand our footprint across the globe.
WCI: Cost reduction, better quality, enhanced efficiency are the common demands of the businesses today. What efforts your company is making on this front?
AK: In order to meet the demands of our customers, we have deployed latest technology and operating procedures in our melting shop and rolling mill; this has ensured efficiency and helped us deliver top quality to our customers. We have also outlayed investments in Solar power to lower our costs & also contribute positively to the environment.
WCI: Lastly your views on the Indian steel wire industry.
AK: At present, a major portion of the installed capacity is catering to the export market; there is a growing domestic demand which has opened new avenues for further expansion. As the per capita consumption of stainless steel is increasing, demand of Stainless Steel wire as a product, depicts an upwards trend.