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What were thoughts and philosophies for starting your business?
We had a very clear philosophy to produce world class products which will satisfy customer needs & provide value to organization as well as customers.
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To what extent you feel having fulfilled your objectives today?
Yes, we have achieved our objectives but there is a room to attain higher growth. We are known for excellent product quality and with exceptional features. There is always our aim to still improve ourselves. Presently we cater to Indian market but soon we desire to conquer world market.
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What according to you are your positive points towards growth and sustenance of your business?
Quality is a way of life in Adept. NABL accreditation (as per ISO 17025 standard) for our Lab (for testing and calibration for instruments and final products), is one of the testimonies. We have earned a reputation of quality manufacturer. This supported by continues design & development, motivating employees to produce world class products & top service to customer, will be our strong points to achieve sustainable growth. We aspire to be 100 Cr Company in three years.
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What are your considerations/ideas when you develop and introduce any new product or concept?
We always thrive to ensure that a new developed product shall be cost competitive, satisfying market needs technically, with top quality and shall contribute to achieve sustainable growth & employee satisfaction.
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Do you have any of the below stakeholders associated with you for a longer period? (Please mention their approx. Number)
Customers with you
(a) for more than 10 years: 500
(b) for more than 25 years: 50
Suppliers with you
(a) for more than 10 years:200
(b) for more than 25 years: NA
Employees with you
(a) for more than 10 years:20
(b) for more than 25 years: 5
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Do you have any Green Channel Supplier (how many?)
Yes. About 15.
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Are you a Green Channel Supplier to any customers: (to how many?)
Yes, we are a green channel supplier to a considerably large number of customers. All of them repeatedly buy from us, and their possible number is around 500.
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What are your growth/expansion plans for next 5 years?
Encouraged with customer support and our business performance, we have very ambitious growth plans. In coming 3 Years, we aim to become Rs. 100.00 crores company & in next five years, we plan to reach about Rs. 500.00 crores in turnover. At the same time, we shall endeavour to build the organization where all stake holders will enjoy & be satisfied with their association with us.
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How do you foresee growth of your industry in next 5 years (a) in the country, and (b) internationally?
Very bright future is beckoning. Water will be a highly precious commodity in coming times. We see several opportunities in water segment for urban developments, smart city projects, Water Treatment Plants and distribution. Exponential growth is possible in flow-meters market due to water segment. Sky is the limit for growth in domestic as well as overseas market.
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What kind of bottlenecks you anticipate in your growth plans for next 5 years, and how you plan to counter them?
We are aware of the challenges and bottlenecks, particularly cost pressure, manpower availability & development, challenges in development & satisfying diverse customer expectations. By proper training & manpower development, ensuring quality at all levels and offering ‘fair’ value to customers, these can be overcome.
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In present business practices, do you experience problems like:-
a) Unusual credits expectations by customers, Yes
b) Payment delays, non-payments, bad debts, Yes
c) Harassment from some specific sectors, No
d) Effects of Government policies(lack of policies/inadequate policies/negative policies)- No
e) Effects of International happenings No
f) Effects of changed climatic conditions No
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As a progressive and prominent businessman, would you have any suggestions for removing these hurdles?
Hurdles are always there in business, and they are even more for a growing business. We counter these with proper planning, anticipating growth & gearing up for that. We take these hurdles as an opportunity & develop it.
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National/local competition is mostly from business units that come up by copying a leading brand with less features, less quality and less price. Do you have experience of it?
This is somewhat true, but it is also usual in business. We look at it as opportunity where market growth happens & better quality product is purchased by market ultimately.
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How you see the onslaught of international competition in your business segments?
Impact of international competition appears insignificant for us; since from our point of view, market exists for everyone.
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What are your suggestions and plans for countering such competition – both national and international?
Produce a top class product which will give value to customer at the most competitive price. We feel with this strategy, we will grow beyond our dreams.
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Do you have any activities in practice for improving performance, loyalty and retention of your employees? You may like to mention those here along with your experience.
Train them, pay adequately & provide work satisfaction. Provide human value & considerations.
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Can you list your activities, if any, towards the welfare and well-being of your stakeholders including employees, investors and customers)
For customers: Value for money
For investors: Good return on investment
For employees: Work satisfaction.
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Would you like to mention about your CSR activities towards society?
We undertake some CSR activities regularly since last 10 years. This is in the form of monetary assistance to certain NGOs and SHGs.
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Do you take up any specific actions and undertake activities for environment protection?
Yes, recently we have launched our products with Solar panels.
We are aiming to remove papers from our office, and practice paperless operations.
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Any other points you may like to add for information of readers.
We have a glorious past in terms of growth and customer satisfaction, and we have bright and ambitious plans for future. At this all we can say is: “EXPERIENCE ADEPT & ITS PRODUCTS”.
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