Leading Mid-Corporates of India 2023

44 | Leading Mid-Corporates of India 2023 [ EXPERT’S VIEW ] multiply ourselves by at least 20% p.a averaged over the medium- long term period while continuing to remain long-term debt-free so that the journey is low risk & sustainable. What are some of the key milestones? The key milestones would be concluding almost 3x expansion within the last 30 months at our Silvassa & Panipat locations to be ready for a big leap of growth over the next 3-5 years, doubled Revenue since FY 2019 with 3.5x growth in Net Profit, which is a testimony of sustainable scalability despite COVID. On the products side, we have added multiple new products from MMF as base raw materials. What are some of the key products offered? Faze3 is present across multiple product lines under the Home Text i les & Technical Text i le segments. Products range from All types of Bathmats, Ultra Luxury Bath Rugs, Washable Area Rugs, High PerformanceOutdoor/Indoor rugs, Top of the Bed products, Blanket, Curtains, Patio Mats, Cushions, etc. By & large we continue to work closely with all customers to make pretty much anyproduct /merchandise inhome textile category (both polyester & cotton) except cotton sheets & terry towels. Kindly elaborate innovations, ESG initiatives taken? Faze3 has introduced multiple innovations viz phase changing materials, high light fastness, water resistant, tear resistant, and other technical textiles innovations as value adds to traditional polyester/ cot ton wh i ch adds spec i f i c attributes to the product. Faze3 has been successful to implement a wide array of specialty yarns in a short span of 60-90 days turnaround times (most critical). The trademarks for said innovations are registered with Faze3. ESG is now integral to our overall strategy. Faze3 has voluntarily adopted the BRSR report ing framework in 2022 & 2023 ahead of themandate. 1) Share ofWomen in overall workforce from 15% to 25%. 2) Over 40% of electricity consumption at Silvassa units comes from Rooftop Solar. 3) Rain water harvesting. 4) Water recycling vide ZLD water initiative integrated into our expansion. 5) Adopting GAS & Biofuel as exclusive fuel for textile processing in North India (Panipat) unit in FY 23 from Coal despite higher costs of operation. What are some of the key factors that give you an edge over your peers? Our diversi f ied product mix/ customer mix gives us granularity Describe the journey of your company since its inception & vision over next 10 years for the group? Themanufacturing journey started in 1982 with a small factory shed in Panipat. As we speak, the group has 8 factory locations built as per global standards & considered “State of the Art” in the Industry. The factories occupy over 35 acres with~140,000 SQMmanufacturing area. The group has grown in global exports & expanded over the last 4 decades learning through recessions in 1997, 2001, 2008/09, 2020 & multiple business cycles. Faze3 is a rare organization in many ways viz 1) a start-up & entrenched corporate culture in the textile sector, 100% business is made to order (customized), an equal mix of Cotton & Polyester/ MMF, multiple product l ines, fully vertically integrated, etc. The vision is to keep serving our customers with innovation & best quality product offerings & grow/ Ajay Anand Chairman & Managing Director Faze Three Limited Dun & Bradstreet