CXOToday has engaged in an exclusive interview with Mr. Anubhav Kathuria, Director, Synergy Steels
- What is the vision of the Synergy steels and what growth of the company looks like
Our vision – we aspire to become the largest manufacturers of stainless steel in India and one of the global leaders in the stainless steel industry. By venturing into new avenues of steel production and diversifying our product portfolio, we envision a consistent yet sustainable growth and make constant improvements on this journey towards excellence.
We maintain a commitment to embrace innovation and foster a culture of positivity – nurturing relationships with clients, industry, and the environment. Our foundation is built on trust and integrity, and we strive to empower communities to help themselves and others while also focusing on long-term environmental sustainability.
- Name some key regions where synergy steels have a strong presence, please share some figures on the same.
In India, our market presence is strategically distributed across key regions, with significant influence in Delhi-NCR, Maharashtra, and Gujarat. As far as exports are concerned, currently approximately 30% of our production is directed towards the export market, underscoring our global outlook and competitiveness. Our primary export destinations include significant markets such as the European Union, Turkey, and Latin America.
- How do you see the company and the industry in the coming future
Industry
The stainless steel industry has witnessed tremendous growth. With the economies and countries moving towards sustainable solutions, stainless steel is increasingly being identified as a key metal for building because of its sustainability quotient and properties. As per a CRISIL report from 2022, between fiscals 2021 and 2025, stainless steel demand is expected to increase at 6.5-7.5% CAGR to 4.6-4.8 MT, with demand projected to reach 6.6-6.8 MT by fiscal 2030, owing to an increase in the use of stainless steel in infrastructure, aerospace, defence, medical equipment, and agri equipment.
Company
Over the next few years, we envision a strategic expansion and transformation across key dimensions to fortify our standing in the market and reinforce our brand identity.
At present, our production capacity for stainless steel stands at 250,000 tonnes annually. However, we are constantly engaged in charting a path for further growth. As a part of our expansion strategy, we are currently in the process of establishing a new greenfield project to augment our stainless steel production capacity to 300,000 tonnes annually.
Further, currently approximately 30% of our production is directed towards the export market, which is reflective of our global outlook and competitiveness. Our aim is to further build our global presence by increasing our export share to 45% within the next two years.
We are excited about the opportunities that lie ahead and are dedicated to realizing our vision by leveraging our strengths, embracing innovation, and staying attuned to market dynamics. With our key objectives in mind, our ultimate aim is to ascend to a position of global leadership within the stainless-steel industry.
- Can you talk about any cutting-edge stainless steel construction technologies that are currently being developed?
The stainless steel sector is experiencing the rise of numerous innovative construction technologies. A noteworthy instance involves the application of laser cutting and 3D printing methods, allowing for detailed and personalized designs in stainless steel components. Additionally, advanced joining techniques like friction stir welding are gaining traction due to their capacity to bolster structural integrity while simultaneously streamlining production timelines.
- What measures is Synergy Steels employing to minimize its carbon footprint and encourage sustainability in the stainless steel production process?
We are a company with a green heart. Our dedication to creating a positive environmental impact has driven us to make significant strides in this direction – we are actively progressing towards our target of sourcing nearly half our energy needs from renewable sources. Over the years, we have shifted our focus to solar power to meet our energy needs. We have established alliances with solar companies to fulfil a substantial portion of our energy requirements. Additionally, we use green hydrogen generated by renewables that is used with direct reduced iron in our steel-making process. Year on year, we continue to improve our ESG performance.
- What advantages and disadvantages come with employing stainless steel in construction projects?
The possibilities for incorporating stainless steel into large scale construction projects are extensive. Stainless steel offers durability with high resistance to corrosion and rust, ensuring longevity in diverse weather conditions. Its enduring strength enables structures to bear substantial weight and pressure, making it ideal for bridges and buildings. Additionally, stainless steel’s aesthetic allure contributes value to architectural designs, as it can be effortlessly moulded to enhance the overall architectural vision. An illustrative example is the Make in India Lion decorative, crafted from stainless steel.
Nevertheless, challenges may arise, including comparatively higher initial costs in contrast to alternative materials, the requirement for specialized fabrication and installation expertise, and potential limitations in specific structural applications.
