In a recent interview with N. Balasubramanian, Nandan Petrochem Ltd.’s CEO, Hrishikesh Kulkarni, shares insights into the company’s performance, strategic shifts, and the unveiling of Velvex’s new corporate identity.
Starting off with an update on the onset of FY24, Kulkarni expressed optimism about NPL’s performance, particularly within the AdBlue/DEF segment. He noted significant promise driven by transformative shifts in the mobility and infrastructure sectors. The lubricant and DEF sectors exhibited a visible upward trajectory, resulting in a positive outcome for the period.
Velvex’s New Corporate Identity – A Symbol of Progress
Kulkarni discussed the evolution of Velvex’s corporate identity, emphasizing the transition from VELVEX 1.0 to the 2.0 growth trajectory. “The brand refresh aims to position Velvex as advancing with agility in the realm of contemporary mobility, offering solutions that make efforts effortless and provide consumers with a superior experience,” said Kulkarni.
The new logo, featuring a master emblem in the form of a star, signifies freshness. The brand refresh aims to position Velvex as advancing with agility in the realm of contemporary mobility, offering solutions that make efforts effortless and provide consumers with a superior experience.
“The updated logo’s design is modern, dynamic, and vibrant,” he added. The color palette, including Navy Blue for trust, Amber Yellow for positivity and collaboration, and Solid White for perfection and excellence, underscores Velvex’s diverse customer base in lubricants, services, and solutions. Kulkarni attributed the tagline “Feel The Technology” to the company’s desire for customers to experience the technological changes in their products.
Retail Expansion and Channel Partnerships
Discussing NPL’s retail presence, Kulkarni shared the exciting news of remarkable expansion, particularly in the automotive, industrial, and AdBlue categories. The growth reflects a substantial increase in the network of channel partners, with industrial distributors nearly doubling. Notably, over 200 distributors and Automated Dispensing System channel partners have been onboarded in the AdBlue channel, showcasing trust in NPL’s products and services.
Focus on Innovation and Partnerships
Kulkarni outlined NPL’s strategy to strengthen Velvex’s brand presence, focusing on substantial investments in the retail sector. “Our strategy involves substantial investments in the retail sector, focusing on brand-centric initiatives targeting influencers and consumers,” he stated. The company has implemented dedicated loyalty programs for influencers and retailers, aiming to enhance engagement.
Kulkarni emphasized the importance of prioritizing relationships with distributors and integrating their suggestions at the operational level. The strategy also involves attracting top-tier distributors to improve reach and penetration.
Highlighting NPL’s position as the number one DEF company, Kulkarni mentioned the introduction of substantial technological advancements in products, aligning with market demands.
Anticipating Robust Growth in FY24
Looking ahead, Kulkarni expressed anticipation of a robust start to the year, foreseeing substantial growth across all categories. Noteworthy advancements are expected in the AdBlue/Diesel Exhaust Fluid category, with progress in the automotive lubricant sector, especially in Motorcycle Oil and Agricultural segments. The CEO emphasized efforts in Passenger Car Motor Oils and New Generation Turbo Charged commercial vehicles. Industrial markets are also poised for growth, doubling volumes in the last couple of years, showcasing strong market demand for NPL’s products.
In conclusion, Kulkarni conveyed excitement about the opportunities ahead, expressing the company’s commitment to achieving new milestones in the coming year.
