“Our board has already approved for capacity expansion of more than 50 percent which will take our installed capacity to 35000 drums per month.”
Tirupati Group is a recognized timber importer and a leading manufacturer of various value addition products like cable reel and pallets. Wire & Cable India interviewed Mr. Pratik Jajodia, Director, Tirupati Group, wherein he delves into the motive behind the rebranding & brand identity of the company, new developments, current market scenario & opportunities, and the future aspirations of the Company.
Wire & Cable India: Firstly, could you please enlighten us about the rebranding of Tirupati Group and the motive behind this undertaking? In what ways do you think this step will influence the company’s marketability as well as market differentiation, brand identity, and relevance in the market?
Pratik Jajodia: The existing brand of the company was created almost 10 years back. The Group has since then undergone immense changes in both ideas and ideologies. It is a step forward towards internationalization and to make it stand out in the market. The main reason to consider rebranding was to have a look that is aesthetically pleasing and blends perfectly with the modern thinking of Tirupati Group.
“The main reason to consider rebranding was to have a look that is aesthetically pleasing and blends perfectly with the modern thinking of Tirupati Group.”
WCI: As the company has recently started exporting to the Middle East – could you please touch upon this new development? Also, kindly elaborate on the current market reach of the company – both in the international and the domestic market?
PJ: We had been in discussions with customers in several countries in the said region just before Covid-19 hit the world in which all discussions were put on hold by the customers because they were not sure if we would be able to deliver as none of the Indian manufacturers have been able to gain customer confidence regarding pinewood drums in international markets. Nevertheless, not only have we delivered but also carrying out regular business with some companies in the region and already discussing the future possibilities with many others. We are able to give the right product at the right price and at the right time.
Similarly in India, we are catering to almost every cable and wire rope manufacturing exporter who needs a high-quality packaging for their finished product. A buyer of cable or wire rope gets to examine the drum before the product delivery. Our esteemed clients have gained trust and confidence in their respective markets by using packaging from Tirupati.
WCI: Could you please take us through the key strengths of Tirupati Group which have played a significant role in presenting the company with the competitive advantages in the wooden reels segment?
PJ: Our USP in the wooden reels segment is QQD (Quality-Quantity-Delivery). This means our customers will get the high-quality product in desired quantities big or small and at the right time. Since we have the most advanced facility for manufacturing the reels in the entire Southeast Asia region which we are continuously upgrading; the big brands which need wooden reels in large numbers can rest assured of their supplies from us. This “Mantra” is helping us grow at a CAGR of 45 percent since starting this facility.
WCI: What is your outlook on the current market scenario and the opportunities ahead for the wooden drums/reels market? Kindly share some insights on the key trends and product-related innovations in the market?
PJ: The global cable drum market is expected to reach USD 767.5 million by 2026. Growing at a CAGR of 4.1 percent, wooden reels have the largest share of more than 70 percent share in the product range. Rapid urbanization leads to an increase in infrastructure investments, change in lifestyle, and improvement in economic conditions. This, in turn, results in large-scale government investments that subsequently boost the demand for cable drums across various sectors. Hence, there is a very bright future for the product.
“Our USP in the wooden reels segment is QQD (Quality-Quantity-Delivery). This means our customers will get the high-quality product in desired quantities big or small and at the right time.”
WCI: Has there been any development or innovation with respect to the product offerings and any technological up-gradation at your production facility in the recent past?
PJ: We help customers design their drums in cases where they don’t have their own specifications with our R&D team. Our machines are sourced from prominent manufacturers and we are continuously making investments in the automation of the existing machines for enhancing production capabilities. Our board has already approved for capacity expansion of more than 50 percent which will take our installed capacity to 35000 drums per month. The management is bullish on increasing product range for cable and wire rope manufacturing companies in other forms of packaging products as well. We are equipped to cater to requirements from our overseas clients of any complexity or quantities.