N. Balasubramanian catches up with Dhiren Bammi, Managing Director, Groz Engineering Tools at EXCON 2022 and gathers interesting insights
Groz Engineering Tools – 46 years Of Excellence
Started in 1976, we are primarily an export-oriented company with exports constituting almost 90% of our sales and the balance coming from India. 2022 was a fantastic year worldwide- Our primary markets; farm / agriculture, construction, automotive all were on an upswing. The second wave of COVID hit all hard, however overcoming those challenges we had a successful 2022. When COVID hit in 2020, there was uncertainty everywhere and like all others, we too were nervous. But it turned out to be just the reverse. The last two financial years were outstanding. We have recorded +30% year on year growth, which for the tools business is fantastic.
During the lockdown, people were forced to stay at home and may spent their time repairing their homes, vehicles, indulging in their hobbies which otherwise they did not have time for. As a result, the demand for all kinds of tools spiked suddenly. During the first lockdown, our plants and offices were shut for just over two weeks. In the export market we partner with several companies in the essential goods category, who have to maintain supplies to their customers. To ensure continuity in their supply chain we were permitted to start operations in April 2020.
Our factories and offices started functioning with full attention to COVID protocols. Sanitisation of workspace, distance norms, thermal screenings, staggered schedules, masks, vaccination camps – everything was given complete attention. COVID changed our working style. Till date all norms are being followed so that we can make working easy for our people. We have a large workforce close to 2500 and am happy to share that they stood strong during this entire period and we did not lose any working day. There were cases of COVID amongst the staff, however the work force was stronger and nothing could stop them from keeping the plant running actively – the fact that we could serve both our international and domestic customers so well is all because of the combined efforts of the GROZ team.
We have high expectations from EXCON. The construction industry has been hit mainly due to extremely high input costs – we all know that there has been an explosion in material costs in the last two years. Inflation is at an all-time high. But we know that what goes up must come down. I am hoping that this show and others like this will be the beginning of an uplifting market sentiment. The country needs infrastructure and big plans are in place. I hope that soon we will see a turnaround.
Growth In Near Future
We expect the latter half of the year to be strong since we are steadily picking up the pace. Our export business will grow in double digits this year and from India I am looking at 50% growth. In a country of 1.3 billion, with huge opportunities in infrastructure, development, farming and agriculture this growth is easily achievable. We are working towards making both our businesses (exports and domestic) strong so that they both contribute significantly to the overall growth. It may take some time but we are inching toward this goal every year. We have strong growth plans and are looking at strengthening our brand position in India and our export markets in the coming times.
Groz Equals Peace of Mind
We are not just into the business of making tools. We look at providing solutions to customers and users who look for reliable and consistent quality, exceptional service, prompt delivery and value price. A strong team constantly working to come up with new products and solutions almost monthly, strong after sales service, marketing and sales support are what makes Groz a preferred choice for our customers.