Leading Mid-Corporates of India 2023

Leading Mid-Corporates of India 2023 | 45 [ EXPERT’S VIEW ] in revenue, inter-factory learnings, Group’s knowhow in technical fabrics & materials over last 2 decades, in-house R&D, Design & Innovation team for new tech / high-performance home products, overal l cost competitiveness, scalability, experienced team, track record of almost Four decades of consistent, reliable & quality vendor for large retailers, etc. How is your company uniquely placed to benefit from China plus One trend Faze3 is an accredited supplier with large USA/EU/UK retailers now sincerely committed to China Plus One / alternative supply chain for all textile products. There are very few incumbent textile manufacturers in India with intent, ability & scale to develop new products/supply chains within short period along-with ready inf ras t ructure/capac i ty . Our Group’s know-how in Polyester/ MMF is at par if not better with Chinese textiles onMMF. TheMMF growth opportunity for the entire country is 30-40x given that India’s existing share in global MMF share compared to China is very low. The entire Indian MMF supply chain would have to develop in terms of capacity, capability & economy over the next 10 years to gain this market share like India did in cotton from 2000 hitherto. How have Faze Three managed FY23 uncertainty of high raw material prices and reduced demand? FY 22 and FY 23 needs to be looked at in conjunction. FY 22 saw demand of almost 13.5 months owing to increased shipping time from 45 to 90 days on average, whereas FY 23 saw demand of at best 11 months as shipping become normal. Cotton prices peaked in July 22 while polyester prices peaked in Nov 22 being significant headwinds in 2022. The year also saw a significant retailer inventory correction period from Mar 22 to Jan 23 due to mix of all aforesaid factors. Our newproduct additions, diversified customer/ product base and made-to-order business model (pricing closer to business) allowed us to wither the uncertainty. How is Faze Three contributing to the government mission of “Aatmanirbhar Bharat”? Well, we are truly Atmanirbhar since our inception in 1982. 99% of our raw materials are domestic since we are vertically integrated and we export over 90% of our Revenue. What is your company’s growth strategy for next 3-5 years? Innovation & quality are our core cul ture at Faze3. Brownf ield expansions & being long-term debt - f ree of f er s s ign i f i cant ability to be price competitive at all times, invest for the future & tide over challenging times relatively better. Overall, we are extremely customer focused, with our top 10 customers remaining key to our growth strategy. We curate/structure ourselves as per business requirements of our customers whether it was expans i on , embr ac i ng ESG before time, offering sustainable product opt ions , embracing China Plus One, etc. We are a highly motivated team aligned towards our vision which gives us confidence & guideline for exceeding our performance over last 4 years in the next 4 years. Dun & Bradstreet