Providing TUF loans across the textile value chain can improve the industry
MAG Solvics Private Limited, established in 1991, is a multi-product, multi-market enterprise that provides total testing solutions and online monitoring solutions for all the segments of textile industry. Dhandayuthapani, Diector, MAG Solvics, exchanges his views on the years that were and the latest developments at the firm.
What targets have been set for 2020?
We have created the vision called 'MAG 2020' where we set target for the year 2020. MAG 2020 includes wide range of new products, business volume and moving beyond current level of business. Though we have drawn in the year 2014-15, the entire team of MAG is working towards that vision. We have confidence that we will achieve our vision well in time frame.
Which regions will drive growth in your niche?
Our focus majorly is with two points - maintaining high standards in quality products and total services support to customers. We never compromise on these two issues.
What have been the main achievements at MAG Solvics in the last five years?
Top 5 achievements during the last five years of this decade:
Establishment of high volume cotton fibre testing.
Introduction of fully automatic single yarn strength testing with wide range of raw materials and introduction of online spinning monitoring system in ITMA 2015.
Obtaining recognition for our R&D from DSIR, Government of India.
Spreading customer base in many more countries specially Europe and Latin America.
Creation of MAG brand globally.
What has been the growth story of MAG Solvics?
The CAGR during the last 5 years is about 10 per cent and in the last fiscal, it was about 24 per cent.
What would be your top two suggestions to the Union Textiles Minister?
I would suggest give more benefits when someone focuses on value-adds from the current business like ginners or cotton traders investing on spinning mills in Gujarat region and provide TUF loans across the textile value chain.
What steps have been taken by you to ensure development in your sector?
We have taken the following steps:
Wider range of products which are needed in the current market environment.
Exploring new products in the field of technical textiles.
Provide cost effective solutions where industry is not in a position to afford.
Which areas proved to be testing in the last five years?
The following were some of the challenges we faced:
Increase in competition on the high value products.
Inconsistency in market trends.
Price
Brand loyalties towards established market leaders.
Establishment of MAG products in the new market.
What were the high points for MAG Solvics in 2015?
Participation in ITMA with a purpose - We achieved our purpose and got very good response not only from Indian visitors, but also from other countries.
Along with that, the establishment of our new products such as AccuTrash (fully automatic trash separator with additional features over existing version of our own computerised trash separator), TensoMaster (fully automatic single yarn strength tester) and launching of SpinFo (online spinning monitoring system) were the highlight in 2015.
Published on: 16/11/2016
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.
