— M. Yesudhason, Managing Director, Miracle Cables (India) Pvt Ltd
Miracle Cables Pvt Ltd is a dynamically growing cable
producer with a product range that not includes various
cables but also wire harnesses.
M. Yesudhason talks about
his company and shares his vision of becoming a
100-
crore company over the next 2-3 years. He observes
that his company never compromises on quality just
to beat low-priced and low-quality products by
unorganized sector players, but instead believes in
educating customers on the long-term benefits of
quality. An interview by
Venugopal Pillai.
Tell us in brief about the various types of cables produced by your company.
At Miracle Cables, we produce a wide range of cables that include automobile cables, control
and instrumentation cables, house wiring cables, industrial wiring cables, LT power cables,
braided armoured cables, UL-certified cables, Uninyvin cables, and many more. We also
manufacture a wide range of wire harnesses.
Tell us about your power cables business.
In the power cable business, we are currently dealing with some public sector power utilities,
and also private clients. With our new factory coming up, our focus in this segment will
definitely improve.
How has been the market acceptance to your company's low smoke fire-retardant home
wiring cables?
In the home wiring segment, we have developed a green cable that is marketed under the
brand name Miracle Green™. At the moment, we are catering to a very limited customer base
in this item. Our customer base is gradually expanding.
How do you deal with volatility in copper prices?
Most of our customers are original equipment manufacturers (OEM) or institutional clients.
As we operate on the monthly-average price principle, it is a win-win situation for our
company and our customers.
We observe that India has several players in the unorganized sector, especially in the lowtension
1.1kV home wiring segment.
We do find it difficult to compete with players in the unorganized sector, in terms of price. We do not compromise on our quality standards only to beat
others in pricing. We try to educate our customers about what we
offer and about what they would get (from the unorganized
sector) at a cheaper price. In the long term, many customers turn
to us for the quality that we offer.
Tell us about your capacity expansion plans.
We have started a new plant at Ambernath in Thane district of
Maharashtra. We have planned to invest
10-12 crore in this plant
for capacity expansion. This unit has facilities right from wire
drawing to harness manufacturing.
Several products of Miracle Cables have got certification from
reputed agencies like UL, ARAI, etc. How has this accreditation
helped you improve market penetration?
Yes, our certifications of IS-694 and IS-1554 generate lot of
confidence in the minds of our customers. Besides, the UL
certification is a major milestone that we have achieved. We always
validate our products with third-party testing laboratories.
What is your Uninyvin Cable and as you are a leader in
manufacturing Uninyvin cable what is the prospects of the same?
Uninvyin is a specialty cable that saves production costs by
about 40 per cent. These cables are made out of annealed tin
copper conductor laid up uniformly
with heat-resistant PVC insulation,
capable of withstanding 105ºC
conductor temperature during
continuous operation. Uninvyin
cables started as a battery cable
and are now used in several industries. We have started supplying
these cables to genset manufacturers, and trials runs are on the way
for automotive application where it will be used as a battery cable.
Do you have plans to make HT/EHT power cables, or power
conductors?
We have no such plans, at least at the moment.
What do you regard as the major challenges faced by power cable
manufacturers, and what government support would you seek?
Copper prices are heating up. If the government gives concession
in customs duty to small and medium enterprises, it would be of
great help.
We observe that Miracle Cables, since its inception in 1994, has
growth dynamically. Do you have specific corporate goals in mind?
Yes, in the next 2-3 years, we want to be a
100 crore company, and
in the long run, aspire to become No.1 in the manufacture of
specialty cables, with a wide product range.