Sixty-five year old filter maker Elofic Industries has ambitious plans to come up with a string of new products for different vehicle segments and also step up its focus on exports markets. The country’s largest home-grown filter supplier is also hoping to leverage its investments on upgrading capabilities over the last few years and is confident of strong growth in the coming years.
Says Mr. M.B. Sahni, Managing Director, Elofic Industries: “We have very ambitious plans and are expanding our range of filters across segments – two-wheelers, four-wheelers, commercial vehicles, tractors and industrial. Over the last five to seven years, we have invested heavily in upgrading our manufacturing processes, engineering and testing capabilities and are now reaping the rewards with global OEMs looking at us as a potential supplier for their requirements.”
With a sizeable share of Elofic’s revenues coming from export markets, the company plans to further up its focus on overseas markets. “We are not looking at just the Indian market, we are looking to grow globally. Our exports are growing at a higher pace than our domestic growth. Exports contribute nearly 27% of our revenues at present and will account for around 33% in the next two years which means one-third of our total sales will come from export markets”, reveals Mr. K.D. Sahni, Joint Managing Director, Elofic Industries.
Elofic’s revenue breakup looks quite evenly balanced out, without over-dependence on any particular segment: nearly 30% from OEMs, close to 40% from aftermarket and around 30% from exports.
Talking about Elofic’s market penetration, one of its key USPs, Mr. Pawan Sharma, Vice President, Domestic Sales, Elofic Industries, says: “Our broad and deep network of distributors, stockists and retailers is one of our main strengths when compared to competition. We have warehouses operational in Hosur and Nagur and are in the process of opening more of them at strategic locations to ensure quick delivery of products for our customers.”
In addition to filters, Elofic is also into lubricants where it sees huge potential in the coming years. “The lubricants space is a big ocean and even if we are increase our market share by around 0.1%, it is still good enough for us to achieve our targets”, says Mr. K.D. Sahni.
Concluding by sharing the company’s targets for 2020 and listing out its top priorities, Mr. M.B. Sahni shares: “We are currently at a turnover of Rs. 220 cr. and should cross the Rs. 500 cr. mark by 2020. Our top three priorities for the coming years would be ethical business, upgrading capabilities and customer-centricity. We have always been a company which understands customer needs and develops a strong relationship and a perfect bond and as a result, there has not been a single customer who has left Elofic in all these years.”