At IAA Transportation 2024, Shivalik Engineering made a strong case for its position as a trusted supplier of axle components for commercial vehicles. Represented by Vinay Agrawal, Whole-Time Director, the company showcased its expertise in manufacturing high-quality brake drums, wheel hubs, carriers, and brackets. Agrawal emphasized Shivalik’s focus on innovation, sustainability, and global partnerships, with plans to strengthen exports and embrace renewable energy in its operations.
Building Global Connections
Shivalik’s participation at IAA Transportation reflects its intent to build stronger connections with international OEMs and Tier 1 suppliers. “This is our second participation at IAA,” said Agrawal. “We see it as a platform to directly engage with global players, which is often challenging from India. It’s a slow but impactful process that helps us showcase our strengths and build recognition.”
While acknowledging the gradual nature of such opportunities, Agrawal stressed that Shivalik’s debut participation yielded tangible benefits, with stakeholders gaining familiarity with the company. He noted that exhibitions like IAA provide a critical avenue for Indian suppliers to break into international markets, despite the inherent challenges of the foundry industry.
Indian Foundry Industry – A Transformational Journey
Agrawal highlighted the remarkable evolution of the Indian foundry industry over the past decade. Once perceived as conventional and lacking in quality, Indian foundries have embraced automation, advanced moulding technologies, and quality consciousness. “Indian foundries now rival their international counterparts with high-pressure moulding lines and competitive pricing,” he said, citing the cost advantage India enjoys over European and Turkish foundries.
This transformation is evident in Shivalik’s capabilities, which include handling box sizes as large as 1,000 mm by 700 mm by 325 mm. However, recognizing customer demands for lighter and smaller components, the company is investing in a new flaskless moulding line to expand its product range.
Expanding Exports – A Strategic Priority
Exports are a key component of Shivalik’s long-term strategy. With 90% of its business currently derived from domestic customers, the company is keen to diversify its revenue streams by increasing exports from the current 10-12% to 25%. “Exporting provides a buffer against the cyclical nature of domestic markets like CV and farm equipment,” said Agrawal.
Shivalik’s primary export market is North America, supported by partnerships with Tier 1 OEMs. The company is also targeting Europe for further growth. This diversification aligns with its vision of building a sustainable business model.
Agrawal also shared insights into the current fiscal year, noting that the first two quarters were sluggish for commercial vehicles but saw positive performance in the tractor segment due to a favourable monsoon. “While our overall growth target was 10-12%, we are now expecting a 6-8% increase this year,” he said, expressing optimism about the sector’s recovery in the latter half.
Sustainability – A Cornerstone of Growth
Sustainability is at the heart of Shivalik’s growth plans. The company has committed to converting 60% of its energy needs to solar power by 2025 through a 50 MW solar power plant. “Both domestic and global markets now prioritize sustainability, and as a responsible enterprise, we are aligning with these standards,” Agrawal explained.
In addition to renewable energy, Shivalik is enhancing its manufacturing capabilities. The new flaskless moulding line will not only increase capacity by 1,500 tons per month but also enable the company to produce lightweight components, making it a one-stop solution for customer needs. Agrawal emphasized, “This expansion allows us to overcome limitations in batch weight and casting size, broadening our offerings.”
Domestic Strength and Future Goals
Shivalik boasts a robust domestic customer portfolio, catering to major OEMs in the commercial vehicle, farm equipment, railways, and water business segments. Despite this stronghold, the company recognizes the importance of balancing domestic and export markets to mitigate risks.
The company’s ongoing investments in technology, sustainability, and capacity expansion reflect its commitment to sustainable growth. Agrawal concluded, “We are not just targeting growth; we want sustainable growth. By enhancing renewable energy use and expanding our capabilities, we aim to be a trusted partner for customers globally.”
Looking Ahead
With a focus on quality, innovation, and sustainability, Shivalik Engineering is poised to strengthen its position in the global foundry landscape. As it continues to build on its domestic success and expand internationally, the company remains committed to delivering value to its customers through advanced technology and responsible practices.
