LMW always adds values to its system: K Soundhar Rajhan
Lakshmi Machine Works Limited (LMW) founded in the year 1962 is today a global player and one among the three manufacturers of entire range of Textile Spinning Machinery from Blow Room to Ring Spinning.
LMW diversified into CNC Machine Tools and is a brand leader in Manufacturing customised products. LMW Foundry makes Precision Castings for industries world over. LMW has added the Advanced Technology Centre to produce components for Aerospace Industry.
In conversation with CNCTimes.com, Mr. K Soundhar Rajhan, President of Lakshmi Machine Works Limited (LMW) shares his opinion about the Indian manufacturing industry and the company’s vision.
How is the market right now?
At this point of time, we are happy about our current situation in the market. We are able to give solutions to our existing customers and we are in the process of acquiring very good OEMs. We have supplied to various companies like Maruti Suzuki, Honda, Nissan and many more. Our line of products is also used for manufacturing the new car named KWID. Our market supply is very good and we are serving to jobshops as well as various OEMs. We are getting appreciation for the reliability of our products.
How do you see the customer behaviour in India?
As we look at the picture of today and tomorrow, the important things is the necessity for looking at customer needs and provide the solutions. At this point of time, selling the machine alone is not enough for the customers, so we need to really address the customers need and ensure that we are in a position to provide the total solution to the customers thereby giving the best cycle time and also ensuring that the uptime of the machine is great.
Is Indian market price sensitive?
Definitely yes, the Indian market is price sensitive. But at the same time we need to really create a situation where customer has to look at the overall cost of ownership for the long-term. We are one of the most wanted companies for buying and supplying of machines.
What are your strategies for the branding of the company?
At this point of time so far what we have done is we have not spoken much about the company or the product. The most important way that how branding can happen is only through our customers and the word of mouth. If the customer says that the machine is good and if he is referring our products to somebody saying that I am benefited out of the LMW machine, that is the best way of marketing and that way as far as the branding of LMW is concerned. We always add values to our system. The kind of integrity through which we practice and also our focus for value to the customer ultimately enhances our brand value as the brand value cannot be created overnight.
What is the main purpose of participating at IMTEX 2017?
It is very important to showcase the new developments, what is taking place and give the opportunity to our customers to look at different products at one location. This is where it is very important to also see and get the customer feedback as to what exactly is required for them. In that way, we want to showcase our new development and want to address the requirement of the customer.
Have you launched any new product at the IMTEX 2017?
We launched different new products like twin spindle CNC, the five axis machine, large lathe, total automation solution etc. Like this we have launched total of eight new products.
Do you think that Indian machine tool manufacturers can match global players?
Definitely yes, people here are capable enough. It is only the question of addressing the need of customer in a right way. As of now, we have created a kind of business development team also to ensure that we can connect to customers as much as possible and ensure that we get the feedback from them and support the customer in a best way possible.