Fenwick And Ravi (FAR), a supplier of critical accessories to machine tools, is experiencing robust demand for its products due to pick up in automotive production and aerospace industry. In this interview, R Ravi, Director of FAR, says that the company expects 21 per cent rise in turnover in 2020-21 compared to 2019-20 by focusing on exports market.
Kindly brief us about your company and products & services offered by it.
Fenwick And Ravi (FAR), a leading machine tool company, manufactures bar feeders, hydraulic self centering steady rest, zero point clamping systems, angular milling head and other customised work holding machines. Our products are used in various industries such as automobiles, defense, railways, aerospace, machine tool industries, etc.
FAR's products are compatible with HAAS, Doosan, Takisawa, Morei Seiki, Mazak, Kia, CNC Takang, HNK, Alextech, Proking Lates, Leadwell, Okuma, YCM, DMG, Niles-Simmons, ECOCA, Landis, Schaudt, Toss and Indian Machines. FAR's products are exported to all over the world.
What is your opinion about Indian machine tools industry?
Indian machine tools industry is doing great and day by day it is growing. It almost covers the 60 per cent of the machine tools customers in Indian market and few in abroad, due to its low manufacturing coast and high precision accuracy. Today, Japanese or European firms based in the country use Indian made machines, which is the clear positive sign of growing market.
Do you also serve automotive & auto component industry? If yes, could you please elaborate on your plans to tap the automotive & auto component industry in India?
Yes, we serve the automobile industry. We have our separate market intelligence team, who finds all the business opportunities in India and informing to sales team. Our sales team contacting to all the leads and periodically we are reviewing the output.
How is the demand for your products? What is driving this demand?
We have good demands for our products. Sometimes, we are even over loaded with the demands. It is happening from last few years due to huge expansion in automotive production, auto components and other engineering sectors in export. Development of aerospace industry is also creating positive effect on our business.
Are you going to launch any new product/technology/application at the IMTEX 2019?
Yes, we are going to launch our new Bar Feeder (VF series) which is fully automatic. It makes the operator works very easy and helps them save time and cost of production.
What are your expectations from IMTEX 2019?
At IMTEX, we will showcase all new technologies and products. It will also offer an opportunity for us to reconnect with large customer base in India, reach out to new customers and establish relationship with oversea visitors.
Any message for visitors/exhibitors at IMTEX/ToolTech 2019
“German quality machine tools at Indian prices” to support Indian manufacturing sector.
What are your growth plans for the company?
For financial year 2019-20 and 2020-21, we are hoping to reach the total turnover of Rs 23 crore and Rs 28 crore respectively with the investment in high capacity machines and new technology.
We are a growing company. Every year, we are implementing some new changes in our manufacturing plant with some new technology. Our key products are well known in India as well as few foreign countries. For achieving these higher figures, we are focusing more on export market for our key products. In the last two financial years, we had achieved above our targeted turnover. So, in future, we are hoping for the same.