Rishabh Power Components is a leading supplier of quality components, including CNC spare parts of all the top brands of CNC machines tools and systems such as FANUC, Siemens, Yaskawa, Mitsubishi and many others. With a combined experience of more than 20 years, the company has optimised its procurement procedure and deals directly with the manufacturers or their authorised distributors across the globe. Presenting, edited excerpts of an interview with Vinod Bafna and Vikas Bafna, Directors, Rishabh Power Components.
Can you share your quick perspective of India’s MCMT (metal-cutting machine tools) industry status in terms of current size and future growth outlook?
Our work with our customers is growing; therefore, as I see it, the industry is seeing a period of healthy growth. To give you an example, we recently attended an AISA (Aurangabad Industrial Suppliers Association) expo. We met more than 100 people during the expo and got a great response that far exceeded our expectations.
I see a lot of demand for quality sourcing that manufacturing companies seek locally. We come with the competitive advantages of
ready stock – we are able to deliver parts faster than other companies – and our customer service. In addition, I think, our extensive outreach to potential customers, particularly, in the industrial hubs works to our advantage.
India’s Metal Cutting Machine Tools (MCMT) companies face a number of challenges such as dependence on the cyclical growth of industries such as auto and construction, intense competition, complex distribution network, etc. Can you share with us your marketing and growth strategy, which help you address the above challenges, as well take advantage of the emerging opportunities?
Of course, there are many challenges that suppliers face, but we have been able to hold firm and grow steadily because we do not work on credit, unlike many other suppliers. To add, we believe in reaching a large number of reliable customers.
In terms of marketing, we put special emphasis on participating in the top industry exhibitions such as ACMEE, INTEC, IMTEX and others. We are present at all of those top expos, including those that held in Tier-1 cities, for example, we are participating in MachAuto Expo 2019 to be held at Ludhiana, Punjab.
Because of the aforesaid strategies, we are able to weather economic conditions or market fluctuations.
What are the top industries where you see the biggest demand for machine tools now and in the near-term?
Automotive and auto parts industries is a big sector for us. Leading companies like Bajaj and Maruti support a multitude of ancillary enterprises that create demand. CNC manufacturing is a big sector for us. We see that industrial automation is on the rise across sectors and that generates a lot of demand for CNC spare parts for Machine Tools that we fulfil. We used to cater to electrical and electronics manufacturing until a few years ago but we have reduced our presence in that sector, because of factors like competitive pricing among the local players and of course, the abundance of Chinese products, which has also given rise to the issues of counterfeits and poor-quality products.
Do you also provide CNC parts for retrofitting of conventional machines into automatic or semi-automatic control machines?
Absolutely. We provide electronic CNC parts for retrofitting of conventional lathe machines for automation. We provide electronics CNC parts such as IGBT, LCD, Sensor, CT, Fuse, Battery, Fiber Optical Cable, Drive Feedback Fan, Encoder Feedback Connector, FANUC Amplifier, Encoder, Honda connector, Power connector, I/O Cables, SoftKey, Servo Motor, Transistors, IC, Fanuc Motherboard, Control Card, Siemens PLC, and many more.
Can you share with us a preview of your offerings that you will showcase at IMTEX 2019?
We will display all the relevant information about our entire portfolio of more than 250 machine parts that we supply. We provide CNC spare parts for machining systems of all the leading brands, including FANUC, Siemens, ABB, KUKA, Yaskawa, Mitsubishi, Allen-Bradley, Fuji, Panasonic, Infineon, Sharp, NEC, SEMIKRON, NMB, Daito, Sanyo-Denki, IXYS, , HTK , EUPAC, , Honeywell, Tamura, ST, NXP, and many more.