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Triveni is targeting global leadership

Venugopal Pillai ,  Thursday, June 30, 2011, 11:48 Hrs  [IST]

Arun Mote.jpgArun Mote, Chief Executive Officer, Triveni Turbine Ltd

Triveni Turbine Ltd is a new entity formed by the demerger of the turbine business of India's leading sugar and engineering player, Triveni Engineering & Industries Ltd. Arun Mote, in an exclusive interaction, discusses a wide range of subjects beginning with Triveni's rationale in creating a separate entity for the turbine business. Mote also shares Triveni's vision for the new company whilst asserting that Triveni has always seen its customer as a partner. An interview by Venugopal Pillai.

At the outset, please tell us about the rationale of de-merging the turbine business of Triveni Engineering & Industries Ltd into a separate company Triveni Turbine Ltd.
Triveni Engineering & Industries is a leading sugar manufacturer in India with a crushing capacity of over 61,000 tccpd. As part of backward integration, the company diversified in the business of engineering, mainly in three streams-steam turbines, gearboxes and water business.

Being a high-end technology business, steam turbine design and manufacturing needs a different treatment in terms of managing, growing and targeting global leadership. In the last 30 years, the turbine division has grown to a Rs.600 cr0replus company with a market share of 60 per cent in India. Triveni is selling 130 turbines every year with around 20 per cent of revenues coming from out of India mainly Europe, South East Asia, Africa and other regions.

In order to scale up the operations to a global level, bring technology & cost leadership and thus have a clear edge over competition, the leadership team decided to bring in complete focus on the business through-demerging the business; identifying a JV partner; launching a new product range through the JV; achieving global market reach through the JV; and brand building. Please discuss in brief the overall growth plans of Triveni Turbines Ltd in the medium term. Triveni is a market leader in India with over 60 per cent market share in 1-mw to 30- mw segment. We also have a significant presence outside India. The new joint venture with GE will add turbines in the 30-mw to 100-mw product range. This product range will have a global reach through GE network. All these products will be manufactured at TTL facility. The plan is to have an accelerated organic and inorganic growth for TTL.

What are your plans of making steam turbines (of 60 mw and above) for the commercial power utility sector?
We supply turbines up to 30 mw through Triveni Turbine Ltd and above in the 30-mw to 100-mw range through our JV company GE-Triveni.

Untitled - 40.jpgIn terms of industrial clients, which segments do you regard as your main business drivers?
Our turbines are supplied to industries like sugar, cement, metal, IPP (commercial power plants) and to process industries like paper, textiles, pharmaceuticals and many more.

India's power equipment industry, it is widely believed, has a weak supply chain in terms of components and ancillaries. What is your view?
Indian vendor base is large enough and well equipped to meet the local demand. The industry is highly competitive and also technologically advanced as it is dominated by global players with their presence directly or through JV route. Even large investments have gone in building the capacities.

Tell us more about the Triveni-GE joint venture.
The new joint venture—GE Triveni Ltd—is offering advanced technology steam turbines in the range of above 30-100 mw for global markets as well as India. The JV, which will benefit from full technology transfer and ongoing R&D support from GE, will use Triveni's Bengaluru facility for turbine manufacturing.

Chinese power generation equipment is capturing a significant portion of the Indian market. What is your view about competition from Chinese suppliers?
Majority of Indian consumers still look at reliable, proven and quality suppliers who can offer service at call. These are areas where TTL will score over any competition. We look at our customers as our partners and hence build strong lifetime relationships through our customer-delight programmes of services.

Untitled - 41.jpgWhat is your outlook for the steam turbine industry, in terms of both the industrial and power utilities market?
We would mainly comment on industrial segment as that is our forte. We estimate a growth of 20 per cent in this segment.

Now having formalized Triveni's turbine business into a separate company, what milestones would you like to see Triveni Turbine Ltd attaining in the next 5-7 years?
Triveni is targeting global leadership in sub-100 mw segment.
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