Founded over three decades back Bharat Rubber Works Pvt. Ltd., has grown to become a reputed name in both the Indian and export markets, in the manufacturing of packaging components for the pharma and cosmetics sectors. Currently, it is set for further business expansion by launching new products and making further inroads into the Indian and global markets. In an interview to Cosmedic India, Jayesh Shah, MD, Bharat Rubber Works, touches upon a number of factors that are impacting his company’s business, a few of them being global demand, emphasis on product quality, and the government policies. Interview excerpts:
Please throw some light on the spread of operations of Bharat RubberWorks.
We have three manufacturing units, two in Mumbai and one in Pandhurna, Madhya Pradesh. We do not have any separate branch offices. We have about 250 employees. When we started operations about three decades back, we were only into the local market business. Today, the export market accounts for about 40 percent of our total business and is expected to grow further.
Which industries do you target?
We target both the pharma and the cosmetic industries. About 85 percent of our revenue comes from the pharma sector, while cosmetics and dermaceuticals sectors account for the remaining 15. We entered the cosmetics and dermaceuticals sectors only in 2016.
Which are the pharmaceutical and cosmetic applications that your products are used for?
Most of our products are used in pharmaceuticals sector, such as rubber stoppers for injection and intravenous preparation; dropper assembly for pediatrics formulations; and dosing syringes for liquids orals. Our offerings include many other products used by the pharma industry as primary and secondary packaging. We manufacture teflon laminated stoppers for highly sensitive injections (example oncology treatment). We also make products used for the dermaceuticals and cosmetics sectors, such as dropper assembly, containers and plastic bottles, among others.
What are the key customer expectations today?
Nowadays the customers’ expectations are very high as far as the product quality is concerned. Internationally too, there is a growing respect, acceptance and demand for Indian products and many Indian companies too are making products as per global quality standards.
Unfortunately, there is a section of manufacturers in India that compromise on quality, for offering products at a lower price. Worse still, there are also buyers for these mediocre stuffs who are looking for cheaper options. This is in spite of the fact that pharma products, which directly impact the health and lives of their consumers, have to have the best quality packaging to maintain its effectiveness. And products not packaged properly can end up being useless, and may also prove to be detrimental to the user’s health.
What are the demand trends in the Indian market today?
There has always been a demand for good quality products. We have survived and grown in the industry for the last 38 years only because of the superior quality of our products. For the same reason, we could also make a dent in the international market . We also give equal importance to making products as per the customer’s precise requirements.
What do you foresee as the mid-term business outlook of the market? Will the Vidhan Sabha and Lok Sabha elections have any impact on business?
Irrespective of the upcoming elections and irrespective of the outcomes thereof, I foresee a steady growth in our business, as well as in the market for our kind of products. As long as there is a growth in demand for quality packaging from our target industries, there will be growth in our business.
How optimistic are you about the India growth story?
The Modi government’s policies have been helping enterprises which have been doing business honestly. Though there have been shortcomings, I think, overall, the government deserves credit for its initiatives for ensuring ease in doing business.
Has the Goods and Services Tax (GST) made things easier for you?
Thanks to GST, doing business has become streamlined and easy irrespective of your location. Accounting used to be a big burden as enterprises had to cope with multiple taxes and duties. With GST, there has been a significant reduction in tax and also, tax calculation has become extremely simple. Another advantage is that GST returns can be filed online, making it more transparent and business-friendly.
What has been the significance of technology adoption and process standards in your business?
We have improved our technologies to match international norms and standards. Our products are manufactured in modern clean and controlled area, with stringent quality control system achieving highest quality standards for our product. Our quality management system (QMS) is certified with ISO 15378 : 2017, which includes ISO 9001 : 2015 and Good Manufacturing Practice (GMP). We have implemented lots of automation in our process to deliver best Quality, hygienic products.
What are the new research driven innovations happening in your sector? Please give examples.
Yes, a lot innovation is going on in the pharma and cosmetics sectors to protect products and infections. Also, Bharat Rubber Works is continuously innovating and also introducing new products to meet the market demands. These products include single tablet dispenser, dosage syringe for veterinary segments, and many others.
What are your plans for business and channel expansion?
We have a number of plans for business expansion and that include multiplying our product range, as well as making further inroads into the domestic and export markets.