Many congratulations on the award. You have said that Sona has made significant contributions on a global level and has become a pioneer in the industry. Can you elaborate?
In the steering systems segment, we are one of the top 20 contenders in the world. We have also achieved huge success in the off-highway segment in the US market.
Sona Koyo along with the other Group companies is extending the horizons for Sona. We have also supported our partners for other global platforms by supplying from India. Moreover, we are also supplying to several vehicle models that are now exported by OEMs to several countries. Over the years, by adopting global quality systems, standards, and quality culture, we have been contributing to the automotive industry.
Halfway through the current fiscal, what have been Sona Koyo’s achievements in terms of new customers and the shares of existing customers?
We are very much aligned with the current market growth rate and OEM performance levels. There has been some marginal effect due to the Manesar situation but that is picking up now. In terms of new customers, we are supplying to most of the OEs and are planning to add two more in the second half.
Can you give us an update on plans to enter the farm equipment and off-road vehicles segment in the US?
We have a very strong interest in the farm equipment and off-road vehicles segment and are actively exploring opportunities.
We believe that the agrarian background of our country has huge potential and hope to capitalise on it. Sona Koyo has achieved great success in the off-road vehicle segment with the launch of our indigenous product EPAM (Electronically Power Assist Module) with John Deere. We have been supplying in the US market from a very long time and will continue to do so in the other segments of golf carts.
How has the current slowdown in the Indian market affected the company’s performance?
We have been affected due to the slowdown in the petrol cars segment and marginally due to the Manesar situation. The cost pressures have become very high and this has led to severe margin pressures. We are taking several measures to manage the cost along with innovative methods to increase the productivity.
On the HR side, how is the company handling talent recruitment and retention? And what are the challenges going ahead?
We follow robust HR practices. We follow a comprehensive method of IQ and EQ testing. We are undertaking several employee engagement programmes at different levels. For senior managers, we have a ‘Leadership Pipeline Development’ programme. We also plan to start to train the younger generation to become future leaders at the next level. We are also inducting Graduate Engineering Trainees and Diploma Engineering Trainees to build a strong future pipeline of managers and engineers. These young engineers are partnered with mentors and have a robust system to review their performances.
The people challenge will continue to remain in the auto industry as there are ample opportunities available to people. The need is to prepare extensive training and development plans along with strong employee engagement programmes.
We also need to prepare for the changes that will be brought about by the induction of Gen Y into the workstream. We will have to give more importance to the young generation as organisations will have to adapt to their thoughts and working style at different operational and managerial levels in order to have a better working system.
BRIAN DE SOUZA