Mr. B K Goenka
Vice Chairman and Managing Director Welspun India Limited
Affectionately known as BKG, B K Goenka has left an indelible mark on the business world through his entrepreneurial skills, and modesty that is amply on display in his well-diversified venture - Welspun Group.
Your 15-year old company began with a texturising plant in Palghar near Mumbai. How has the corporate journey been, so far?
"The corporate journey has been thus: In the Beginning... 1985 The launch of Welspun - a polyester texturising yarn unit at Palghar and at Achhad in Maharashtra. Next Steps... 1993 Maiden foray into manufacture of Terry Towels at Vapi, Gujarat. 1995 Backward Integration - Cotton Yarn Spinning unit set up at Vapi. 1997 Diversification into manufacture of steel pipes Submerged Arc Welded (SAW) pipes of Longitudinal (LSAW) and Spiral varieties (HSAW) at Dahej. 1998 Consolidation in the Polyester Filament Yarn (PFY) segment - set up a vertically integrated PFY plant at Silvassa to manufacture Specialty, Texturised & Dyed yarns. Newer Partnerships... 1999 A strategic Joint venture with Vincenzo Zucchi S.p.A of Italy, Europe's leading home textile player, to manufacture Bathrobes at Vapi. 2001 Joint venture with the world's second largest pipe coating company 'Eupec Pipe Coatings GmbH', Germany to provide 'Pipe Coating' solutions at Dahej. This venture was merged with Welspun Gujarat Stahl Rohren Limited in 2005, to provide complete pipe solutions under one roof. Enhancement... 2004 Expansion in Home textiles & Steel pipes at Anjar, Kutch. It includes doubling its existing capacity of towels, enhancing the cotton yarn spinning capacity and making an entry into bed sheetings. In the steel pipe business, apart from expanding capacities for LSAW / HSAW / Pipe Coatings - ERW pipe product range was also introduced. The project with an outlay of Rs.10,000 million has been completed well ahead of schedule. 2004 Recognising the huge potential in the construction & infrastructure industry, Welspun commenced manufacturing of TMT Rebars, Ingots and Billets. A captive power plant is installed at Anjar, Kutch. The Corporate Journey continues... With the passage of time, Welspun is now deeply rooted in its core businesses and has branched out to attain more. In the last 20 years, it has ventured into diverse industries that hold true potential. Each expansion capitalizes on the growth opportunity available to the maximum and also limits the dependence on one industry. This quest to attain more has resulted in diverse branching out ranging from textiles, key industrial products and world class Towels to Bathrobes, Buttons to Cotton Yarns, Specialty Polyester to Texturised & Dyed Yarns, Ingots to Billets, Submerged pipes to Pipe coatings. This variety also provides a solid base for brands to evolve. The launch of the exclusive, high-end fashion concept 'spaces - Home & Beyond' provides home decor for the Indian market. From Oil & Gas majors to infrastructure bodies, departmental stores to five star hotels, all source their needs from Welspun. The quest for continuous growth and the ""Dare to Commit"" core philosophy at Welspun remains its motivating force & inspiration. Excellence has been the driving force behind every venture. Every branching out sustains its growth due to strong relationships with shareholders, customers, suppliers, employees and the community at large. It truly represents a storehouse of resources and opportunities. A proactive set-up with a global approach, Welspun is driven by its mission oriented towards innovation. Attaining Targets... Supported by Domestic and International Lenders - Participation by renowned Investors - ICICI Venture, Temasek (Government of Singapore). SBI, BOB, Standard Chartered Bank etc. with total financial facility of over Rs. 2500 crores."
Published on: 19/12/2005
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