Leading Manufacturing Companies – Walchandnagar Industries

“The underlying theme for 2018 is going to be consolidation and setting up a base for future years. In my view, this is a common theme for most of India’s manufacturing sector,” states Pillai. From the standpoint of the heavy engineering sector, he feels that it is the right time to invest in building capable human resources – both at the managerial and operative level. Optimal Capital Expenditure in right businesses, which will see growth in the years ahead, is also being thought of. He sees growth happening in the defence, aerospace and nuclear power sectors in the years ahead, and therefore would like to build the above mentioned strengths in these areas in 2018.
Some key learnings at the leadership level for the heavy engineering sector include a focus on profitable growth rather than pure topline growth; being very selective about commoditised businesses; developing and strengthening internal core competencies (relying less on subcontracting); investing in protecting the organisation from disruptive technological trends such as composite materials, additive manufacturing, etc.; and working towards flatter and leaner organisations – with disproportionate compensation linked to performance.