Leading Mid-Corporates of India 2022

19 Experts' View Leading Mid-Corporates of India 2022 Passionately Innovative How would you describe the journey of your company since its inception? What are some of the key milestones of the company in recent years? Advik was conceptualized to make technology products in the area of automotive components. I was just out of college and conceived the idea to explore potential opportunities that would get created with the up- coming automotive regulation shift from a two stroke engine to a four stroke engine for emission reduction. This regulation necessitated the use of an oil pump and cam chain tensioner. I saw this as an entry opportunity for a start-up company and developed these two products entirely in-house by leveraging an initial technology agreement with a Taiwanese company. Realizing very early that R&D capability needed to be built in-house to remain ahead of the technology curve, Advik has a 120 member strong R&D team, which makes it adaptive and agile to Advik Hi-Tech Private Limited Aditya Bhartia Managing Director align with the constant technology changes in the automotive world. Advik aims for product leadership within 5 years of its products launch and this is evident from the dominant position it has, with the leading market share globally for oil pumps and tensioners in the two wheeler category and the highest global market share in all-wheel drive transmission oil pumps for passenger cars. For electric two-wheelers today, Advik has an industry leading market share for the disc braking system. Withseventechnologycollaborations, two joint ventures, and an acquisition, we continue to grow at a 25% CAGR. What are some of the key factors that differentiate your company and give you an edge over your peers? When we look at the value disciplines, out of the three disciplines of customer intimacy, operational excellence and product leadership, Advik excels in customer intimacy and operational excellence and is at par with global competition on product leadership. These bring out compelling value propositions that we are able to deliver to our customers and all stakeholders through a robust operating model. Advik is very quick to identify opportunities and develop product and market strategies to help them go to market and surpass customer expectations, which is a great value that our customers see, and hence over the years, Advik has never lost wallet share to competition and has eventually increased its share of business from our customers. Another important value that I see in our journey is our inclusive leadership, which we nurture and ensure all stakeholders, like employees, customers, and our supplier partners are valued. Our targeted programs and specific initiatives across all stakeholders have resulted in their growth along with the company. What is your company’s growth strategy for next 3-5 years? From a mid-term strategy, Advik group, which currently has a revenue of $100 million, is expected to grow to $200 million. This is part of its Strategy 2025, which it rolled out in 2020. Advik sees itself as a leading component and system supplier for not just Internal Combustion Engine Vehicles, but also Alternative Fuel Vehicles and Electric Vehicles. Advik would be a leading component and system supplier of Pumps, Brakes, Alternative Fuel systems i.e. CNG, LNG and Hydrogen across vehicle Segment from two wheeler to passenger car to commercial vehicle including tractor and off-highway vehicles. Next 3 to 5 years are very exciting for Advik, as we see a huge opportunity for the company and its employee to grow, and we are geared up for the challenges that this growth would bring to ensure that we deliver to all our stakeholders. Dun & Bradstreet