Leading SMEs of India 2021

31 Experts' View Leading SMEs of India 2021 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? Our journey started with All India Roadways when we transported varied products for the Laminate Industry. In 1994, we started Paper and Chemical Trading under the name of Fakirsons Papchem Pvt. Ltd. , named after our great Grandfather. Keeping our target segment Laminate Industry in the forefront, to whom we were already supplying Industrial Grade Papers, we started production of Formaldehyde under Balaji Formalin Pvt. Ltd. with a modest capacity of 60 MT per day in Ahmedabad. Marking our growth, we now have a Plant in Maharashtra and another upcoming plant in Bharuch (Gujarat). Today we are supplying to various industries ranging from Paints, Resins, Wood, Nuclear Research, Printing, Construction Chemicals and Pharma. I can proudly say we shall achieve an aggregate production capacity of 900 MT per day by 2023. Balaji Formalin Pvt. Ltd. today is known for its ethical business practices and commitment to deliver world class products on time. What challenges did your company face during the pandemic? What Burakia Group of Companies Mahendra R Gupta Chairman Burakia Group of Companies modernization techniques did your company embrace to steer through the crisis? WFH is seldompossible in amanufacturing setup like ours. The administration and marketing departments of the company were given WFH as we already had a robust ERP system which ensured an uninterrupted workflow. We went into a transformational phase where we became process driven instead of people driven. Our teams got larger. When every other company was thinking about cost cutting, we planned to go full throttle. Because we had faith in our people, we had faith in the Indian Economy. We knew when markets would reopen, they would open with a rocketing spree. During the pandemic, where there were huge supply gaps in the international markets, we challenged ourselves to further reduce our delivery times, and provide unmatchable service to our customers. Our motivated team, while observing all Covid Protocols, managed to increase production across both the units. We saw as huge surge in demand domestically as well as overseas for our products given our commitment to deliver. There were no layoffs, salaries were appraised and we stood strong with our team of employees, contractors, & vendors. What is your company’s growth outlook for the next 3-5 years? We are entering into long term associations to build a business that lasts for generations to come. We have established an R&D Lab in Ahmedabad for research in segments of organic chemistry and metallurgy. The R&D lab will be a state-of- the-art facility with capabilities to constantly develop new products for scaling up and value addition in our existing units. We are also poised to make the greenfield Bharuch Unit, one of the largest Formaldehyde and derivatives complexes in India. We are also eying international markets and are committed to become a multi-product company. With these in mind, we strive to become a world market leader by 2030. Dun & Bradstreet