Omni Matrix, specialising in commercial truck-trailer electrical power cables, registered a whopping 20-fold sales growth from February to March this year. While I was taken aback wondering how such an extraordinary growth was possible, my doubts were cleared when I was told that Omni had bagged a breakthrough order from CV market leader Tata Motors which catapulted its sales numbers overnight.
During our last interaction with Omni a couple of years back, the company was going through an exciting and important phase with preliminary business discussions being held with some of the biggest names in the industry – BharatBenz, Mahindra and MAN, to name a few. Today, Omni has managed to cement its position as the preferred supplier of truck-trailer power cables to almost every OEM in the market, including BharatBenz (Daimler), MAN, Mahindra and the two latest future-defining additions – Tata Motors and Ashok Leyland.
Says Mr. Nithin Prabhakar, General Manager, Omni Matrix Pvt. Ltd.: “We now almost have a complete market share in India. We have bagged orders from Tata Motors for supplying to their Lucknow, Pune and Jamshedpur plants and from Ashok Leyland for their Hosur and Pant Nagar facilities. We have a capacity to make 30,000 cable assemblies every month which is good enough to cater to the complete Indian market requirements, along with some exports.”
Catering primarily to 35-, 40- and 49-ton trucks and tractor-trailers, Omni’s products are made out of engineering plastics and are capable of enduring the wear and tear in challenging operating conditions. The products have crossed lakhs of kilometers of operation and continue to perform well under the most demanding conditions in different terrains.
Global vision
With ABS set to become mandatory for commercial vehicles from January 2016, Omni sees huge potential in supplying to companies such as WABCO, while the retrofit ABS market also presents it a vast opportunity. It is also actively looking at the aftermarket where it already supplies to Daimler’s service centres across the country, and aims to cater directly to fleet operators as well. The tractor segment is also one in which the company sees a market potential for its kind of products.
Currently delivering close to 6,000 cable assemblies per month in the domestic market, Omni is in talks with some of the biggest names globally including Daimler AG for direct supply to their global plants.
In order to further boost its global ambitions, Omni is exploring the possibility of partnering companies in the global arena, especially in regions like the US, Europe and Australia. Also expected is Omni’s participation in global truck and trailer exhibitions in the coming years.
“Our strategy will include participation in trade fairs and shows globally and try to partner someone who already has a base in markets like the US. Our products meet all the quality standards such as ISO, SAE (for the US market), etc., which gives us the advantage of having a proven product with a clean European design, made-in-India. We are looking for partners who have experience in this segment because product-wise we are ready. The US market is definitely one of our main targets while the spareparts business is also something we are interested in”, says Mr. Aditya Chabria, Director, Omni Matrix Pvt. Ltd.
For Omni, FY15 was a good year in terms of volumes, where it averaged around 4,000 to 5,000 cables per month, as against nearly one-tenth the numbers for FY14. Having patiently held on during the recession, it has the entire global market at its target – a fitting reward for its patience, perseverance and foresight.
“Our strategy is clear, and we are here to stay for the long term and are ready to wait for the business to come. We were catering to very small volumes during the slowdown because we were ready to support our customers with whatever they wanted. FY16 is looking good, and this year we wish to secure the market and build a good relationship with our new customers. The global supply initiative with Daimler and other OEMs will also be one of our key focuses”, adds Mr. Prabhakar.
