“From a small beginning in 1995, we have now grown to be a 500 crore company. We have targeted to achieve a turnover of 1000 crores in the next two years,” says Mr. Vinay Rathi, Director, Gloster Cables Ltd.
Incorporated in 1995, Gloster Cables Ltd. (GCL) has made progressive advancements in its infrastructural capacities and market reach over the past 25 years. With a state-of-the-art infrastructure equipped with sophisticated machinery and testing equipment, the production facilities of the company have been designed to match customer expectations and are compatible with the requirements of national and international standards. In an interview with Wire & Cable India, Mr. Vinay Rathi, Director, Gloster Cables Ltd., talks about the recent developments, business roadmap, and more.
Wire & Cable India: To start with, please take us through the recent developments at Gloster Cables.
Vinay Rathi: We almost doubled our production capacities about two years back. Recently, we had added an additional CCV line to fulfil the exponential market demand for HV cables, due to the implementations of various government infra development programs. We are continuously upgrading the manufacturing machinery either by replacement or technical enhancement of the capacity utilisations.
WCI: Kindly share details on the manufacturing capabilities of the company and the infrastructure of your production facility. Are there any plans for capacity expansion or has there been any recent expansion?
VR: Gloster Cables strives to excel as a manufacturer of quality products and services.
• We have a wide product range from 1.1 kV LT cables to 33 kV HT cables. In addition, we have mastered different types of special cables like FS cables, solar cables, instrumentation cables, etc.
• We have a wide range of compound options for inner and outer sheaths:
o Default = PVC+UV+ART. This means unlike other companies we do not charge extra for features like UV/anti-rodent/anti-termite.
o Additional options = PVC-FR/FRLSH/HOFR , ZHFR, low temperature up to -40°C.
• Special Heat, Oil & Flame Retardant (HOFR) PVC compounds are available for refineries. These solutions are developed in-house by us.
WCI: When it comes to the demand and applications of solar cables — how does the Indian market perform in the segment as compared with the international markets?
VR: Solar cables work as an interconnection in photovoltaic power generation. It connects solar panels as well as other electrical components.
Solar power in India is the fastest-growing Industry as part of the renewable energy in India. The country’s solar installed capacity was 53.997 GW as of 31 March 2022.
The Indian Government had an underlying objective of 20 GW limit with respect to 2022, which was accomplished four years early. In 2015, the objective was raised to 100 GW of solar power (40 GW from the rooftop itself) by 2022, focusing on a venture of USD 100 billion. India has laid out almost 42 solar parks.
As far as the international market is concerned, India is producing solar power at the lowest cost globally. India had left behind China, the US, the UK, Canada, France, etc. Moreover, India had ranked third in EY’s ‘Renewable Energy Country Attractiveness Index’ (RECAI) in 2021.
Watch: Wire & Cable Industry Year Review
WCI: Could you tell us about the importance of material and technology in manufacturing fire survival cables? What kind of market potential do you foresee in this segment?
VR: Gloster manufactures a wide range of fire-safe cables or cables with limited integrity based on various international construction standards. It also has the testing facilities to test the fire performance of these cables as per various testing standards.
We offer these types of cables with both copper & aluminium conductor; although as per the available standards, the copper conductor is only specified for use. We have achieved a certain degree of expertise in using aluminium conductors, and we are, therefore, able to offer flame temperatures more than the aluminium melting point.
The market for these cables is picking up and the market potential is huge. The fire-resistant cable market is growing at a CAGR of 4.4 percent and is expected to reach a market size of USD 719 million by 2027 globally.
The Middle East and Africa are expected to unveil a 5.1 percent faster CAGR from 2020 to 2027. The Asia Pacific was the largest regional market with a share of 31.6 percent in 2019 and is expected to continue to lead in the forecast period. China, India, Japan, South Korea, and Australia are the leading buyers of fire-resistant cables due to the growing demand for fire safety in commercial and residential buildings. As far as India is concerned, it is growing at a CAGR of 15 percent.
WCI: With what major objectives is Gloster Cables going to participate in the Cable & Wire Fair 2022?
VR: We are participating in the Cable & Wire Fair 2022 to connect with a broader base of users from the power sector. It is all about gaining experience as well as sharing the experience.
WCI: What is the business roadmap of Gloster Cables for the future?
VR: From a small beginning in 1995, we have now grown to be a 500 crore company. Further, we have set our target to achieve a turnover of 1000 crore in the next two years.
WCI: Any concluding thoughts to add to the interaction?
VR: We are known as a quality and trusted cable manufacturer. Our slogan is –‘Safety Is Not Expensive. It is Priceless’. We design our cables with safety in mind.
