China’s crackdown on polluting steel plants helped Heg’s graphite electrode business grow more than nine times.
WHEN CHINA DECIDED to crack down on some of its most polluting industries in 2017, which also included many blast and induction furnace steel plants, steel export from the world’s largest producer halved. This benefitted not just the steel manufacturers in other countries, but also manufacturers of graphite electrode, which is primarily used in the steel industry. Interestingly, there are only five such manufacturers globally, two being from India. The two Japanese firms control 54 per cent of the global market, the US company controls about 23 per cent and the two Indian companies together control another 23 per cent.
HEG, one of the Indian manufacturers (other being Graphite India), has reaped the benefits of a sudden change in the complex business dynamics of the industry. The company’s sales jumped from 860 crore in 2016/17 to 2,750 crore in 2017/18. And it expects the momentum to continue. Ravi Jhunjhunwala, CMD and CEO of HEG, says they expect the revenue in the current financial year (2018/19) to touch 6,000 crore.
The management has reason enough to be confident. In the first quarter of the current financial year, net sales of HEG were 1,587 crore, 7.5 times the sales of 213 crore in the corresponding quarter last year. The spurt in sales in 2017/18 saw the company posting a profit (1,081 crore) after two continuous years of losses (50 crore in 2016/17).
Denne historien er fra November 18, 2018-utgaven av Business Today.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra November 18, 2018-utgaven av Business Today.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
"Moving to cloud helped us grow❞
What was the problem you were grappling with?
She's Got Time
MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP
RISING STAR
PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.
Building on a Legacy
WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.
LEADER IN INNOVATION
AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.
WAITING IN THE WINGS
Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025
A DECENT PROPOSAL
IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?
Women and the STEM Bias
EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.
ROCKET WOMEN
WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.
ONE STEP FORWARD
THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.
