In 2009, Sunil Pai Kane & me were discussing opportunities and threats in our business lines- primarily Diesel Generators.
We had, a year earlier, raised Private equity, and we were thinking where we could get growth.
Kirloskar oil engines, for who we were an OEM then, had given us very limited territory and were in the process of winding their contract manufacturing business model. And the future looked difficult.
Why not exports I mused?
In a matter of months, we made a plan, allocated resources, applied for an EOU, and sent our teams to various countries mandating Dealer appointment.
The Math was clear- let’s have 100 dealers each of who will purchase 10 Gensets a month or average 120 a year. All this to be completed in 2016.
That’s a staggering 12000 Gensets per annum.
In the year prior, we had augmented our capacity to manufacture 15000 Gensets per annum. So we could deliver, was what we believed.
We are nowhere close to those numbers of Gensets. But we are on course.
As of May 2017, we have 48 dealers and have sold our Gensets in 63 countries.
And we will stay on this course till we do complete our Math, albeit with a revised end date- March 2020.
Testimony to us being on course is the second successive Engineering Export Promotion Council award that we received this morning for being a Star Performer in our segment.
The Award was given away by Piyush Goyal, Hon. Minister of state with independent charge for Power & Coal at a very well organised Function at the ITC Grand Central, Mumbai.
Gauripriya Pai Kane and I received the Award on behalf of the Team at Power Engineering India Pvt Ltd. Missed my dad and mum, Manik Pai Kane and Sheetal Pai Kane at the award ceremony.
Wish to thank all our Shareholders, Stake holders, Colleagues and Customers for your unflinching support. We could not have made this journey without you by our side.