INTERVIEW | [ 67 ]
“TARGETING A GROWTH OF 35 PER CENT IN FY 2021-22”
Priyamvada Bhumkar, Managing Director, Soujanya Color Pvt. Ltd. spoke about the global trends, R&D initiatives, manufacturing, capex, CSR initiatives, and much more. Excerpts of the interview: Soujanya Color is top 3 colorant manufacturers globally. Reasons for your success?
PRIYAMVADA BHUMKAR MANAGING DIRECTOR, SOUJANYA COLOR PVT. LTD.
Global trends in Colorant in 2021 and how it will impact India? The world is still grappling with the COVID situation and we are witnessing different scenarios globally. The demand in the emerging markets and particularly in India has seen an increased uptake. But on the supply side, there are issues of availability and crisis. Supplies particularly coming from Europe and China show a greater impact. Inflationary trends on prices of most materials are real and are putting a lot of pressure on companies top line and bottom line.
to the entire South and North American market from this plant. In terms of products and industries, we have etched out newer verticals for our business. In the past couple of years, we have developed products and colour solutions for the inks, personal care, construction and plastics industries. These strategies will allow us to move ahead and sustain and grow our market share.
Milestones achieved by Soujanya Color in FY 2020-21 and plans for FY 2021-22? FY 2020-21 has been challenging for everyone but we have emerged well. We will see a growth in volume and value of 10-15 per cent despite the lockdown situation in the first quarter of FY 20-21 and the credit for this goes to our team. For FY2021-22, we have set a 35 per cent growth target for our business. We hope to start our Mexico manufacturing plant this year. We plan to strengthen our global footprint by being closer to our customers in each region. During the past couple of years, we have established a subsidiary in Mexico and branch offices in Singapore and Brazil. This will allow us to be local in those regions and service the customers there well.
Soujanya Color’s success globally is based on several factors. The key among them has been our unrelenting focus on the core business of colourants, technological strength, building vast operational and supply chain capability, deep understanding & commitment towards global customers and understanding the Company’s performance vis-a-vis fine nuances of different global markets. revenue and profit during FY 2020We are looking to sustain and 21 and forecast for FY 2021-22? grow our market share by enWe will close this year with voltering new markets where ume growth of about 10 per we see significant potencent and value growth of “The Mexico plant will tial and by expanding about five to seven per entail a modest capital our product and service cent. We expect profitinvestment this year offerings for newer inability to be more or and acquiring land for dustries. For example, less in the same range. our further expansion we have been able to We have yet to assess in India will also entail make inroads into Latin the impact of the surge some investment” American markets with in raw material prices but the focus that we have had hope that these will be offset on that market, building a large to some extent by some of the footprint in the entire region including other costs being lower due to the COcountries like Mexico, Costa Rica, Gua- VID situation. temala, Brazil, Argentina, Chile, EcuaWe are targeting a growth of 35 per dor, Peru, Venezuela, etc. We will begin cent for the next year and are confident manufacturing in Mexico this year with of achieving it. Growth drivers for our a new plant for which we have already business in the coming year would be as finalised a location. We propose to cater follows: Demand uptick from not only
