Anjali Singh, Chairman Anand Group, discusses the road ahead for the automotive component manufacturer.
04 Feb 2025 | 6470 Views | By Ketan Thakkar and Prerna Lidhoo
Anand Group is embarking on an ambitious growth trajectory, aiming to surpass Rs 50,000 crore in revenues by 2030. To achieve this goal, the group will focus on strategic partnerships, mergers and acquisitions, and innovation-driven growth, ensuring it stays ahead of evolving industry demands. In this interview, Anjali Singh, chairman ...
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Anand Group is embarking on an ambitious growth trajectory, aiming to surpass Rs 50,000 crore in revenues by 2030. To achieve this goal, the group will focus on strategic partnerships, mergers and acquisitions, and innovation-driven growth, ensuring it stays ahead of evolving industry demands. In this interview, Anjali Singh, chairman of the Anand Group, shares her growth plans, the company's approach to localisation and global expansion, as well as the transformative potential of electric mobility and advanced manufacturing in shaping the future.
Anand Group has set itself on an aggressive path to Rs 50,000 crore in revenues by 2030; but we haven’t heard many M&A announcements from the group. Could you help us understand the path for the future?
Going out and making an effort has been a traditional approach for driving inorganic growth, right? But for us, because partnerships have always been our cornerstone, we have consistently grown alongside our partners, forming more and more joint ventures (JVs).
For instance, the Inalfa collaboration, established in 2023, achieved a rapid ramp-up, swift production, and efficient market access to serve customers. That’s our unique selling proposition—we grow through partnerships.
We are also exploring mergers and acquisitions (M&As). Some of these M&A announcements will be made by 2025. The overall growth numbers for 2027 and 2030 will include a significant contribution from M&A activities. However, partnerships remain our strength, and we continue to grow through them.
We work with almost every major customer in Korea, Japan, the US, and Germany. Despite this, there is still a lot of scope for new partnerships. Many global players are here, but not everyone is. Customers are looking for enhanced car specifications—whether it’s advanced music systems, lighting, sensors, or other features.
Many new products are coming into the market, and we continue to seek JV partners. Since partnerships are a cornerstone of our strategy, they will remain a significant focus for our growth through 2026.
Are M&A’s often being steered by customers to bridge a gap in their portfolio?
From an M&A perspective, you usually aim to meet customer needs. You run a business with a deep understanding of customer demands, and what they say is correct.
Our focus is always on serving the customer. If the customer points us toward an area to invest in, we follow that direction. That’s true for all of us—trusted customers guide us in the right direction.
We have been very India-focused until now. While we’re not saying we wouldn’t explore overseas opportunities, we won’t compete with our partners in their territories.
This still leaves us plenty of other windows to explore. We also value customer feedback when considering M&A opportunities. Customers often guide us, saying, “If you’re looking at an acquisition, ensure it addresses a specific need for X or Y.” That’s the most solid and sensible way to grow.
From your perspective, what areas would you like to strengthen or bridge through M&A?
There are considerable opportunities for backward integration and localisation. While there is significant buzz around autonomous vehicles (AV), and many of our products are transitioning toward AV, India is becoming an important manufacturing base for global exports.
We focus on expanding within our existing JVs to meet global requirements and exploring new areas where backward integration could make us a more substantial base for international exports.
You mentioned globalisation and the establishment of Anevolve as a dedicated electric mobility arm. How are these plans evolving?
Indeed, a lot of work has gone into Anevolve. Since we last met, we have established an engineering center focused on creating new products like controllers, motors, and traction systems for power electronics. This initiative continues to snowball, with a dedicated team driving concentrated efforts.
While we are focused on Anevolve, we also have many ongoing projects within our other product lines. Anevolve gives us ambitious targets for India and potentially for acquiring Indian technology to expand our global footprint.
How do you see EVs disrupting the market, and how are you preparing for an uncertain technological future?
This question should be segment-specific because the disruption caused by EVs is already evident in the two-wheeler and three-wheeler segments. The migration is well underway, especially in these categories.
We are confident and optimistic about EVs. It’s a positive story for end-users and the ownership chain. While the pace may vary, EVs are here to stay.
We’ve also seen many EV launches recently. We'll observe their market traction once these products are fully launched and operational. By 2027 or 2030, we anticipate significant developments in the EV space, especially with strong growth in the bus and last-mile EV segments.
What’s next for Gabriel, the flagship company of the Anand Group?
Gabriel is a household name that inspires trust; we take immense pride in it. It’s a fantastic platform and an essential cornerstone of our group.
With the launch of Inalfa in 2023, you saw a clear indication of the growth trajectory we envision for Gabriel. We see tremendous scope for expanding Gabriel’s product lines and entering new segments in 2025 and 2026.
Gabriel has a robust portfolio in the suspension segment backed by significant in-house engineering capabilities that we’ve strengthened over time. We constantly explore ways to grow Gabriel’s product offerings and diversify into allied areas.
How does the Anand Group balance localisation and globalisation in its strategy?
Localisation and globalisation are not contradictory—they complement each other. When you localise, you not only offer better cost propositions for domestic customers but also gain a competitive edge in exports.
This dual focus allows us to support both local and global markets effectively, making localisation and globalisation integral parts of our strategy.
Is the "China Plus" focus a reality that India can gain from?
Absolutely. India has stepped up as a major manufacturing base. With the government’s push for manufacturing excellence, coupled with our nation’s talent and hunger for growth, India has become a preferred supplier for global needs.
We’ve seen significant interest from our joint venture partners and global companies, and we believe India will continue to play a major role in the global supply chain.