Machine tool industry surpassed the odds

By admin June 17, 2013 11:55 am IST

“The lean times have allowed Makino to shake off complacency and made us take a hard look at the areas of improvement”
– T. V. Raghava Badhya, Director and Vice President – Marketing, Makino India
Machine tool industry is going through testing times. Last couple of years was at peak and what followed was a steep fall. It was not difficult to ascertain the reasons although much of it wasn’t in control of the machine tool industry or the user industry. Indian economy as a whole was undergoing turbulent times with high deficit followed by high interest rate and free fall of rupee. The subsequent tightening of credit by the RBI had a cascading effect on the economy and the industry specifically. T. V. Raghava Badhya shares how these factors have resulted in the squeezing of the industry and Makino strides through all.
Benchmark 2011-12Makino benchmarks its operations to the years of 2011-12 which were very good for Makino wherein it sold close to 600 machines and passed Rs 600 crore in effort sales. However, what followed was a sharp dip. It is not common for any enterprise to have back to back best and worst years. This has been a very challenging time for Makino, but its customised engineering business, its support and infrastructure side of operations have helped the company manage itself in these challenging times for the entire industry.
Downstream effect of economyGiven the state of the overall economy and its cascading effect on customers, many are struggling to leverage existing capacity. This surely has a downstream effect on the machine tool industry, and falling demand as well as directly is affecting both top and bottom line.Performing well in industryEach challenge brings unique opportunities. These lean times have allowed Makino to shake off complacency and made it take a hard look at the areas of improvement. A frugal approach and finding ways to shed that extra weight will allow us to become leaner and fitter to survive under varying market and economic conditions. This time, it has too invested hundreds of hours and efforts on training and development for its staff to enhance their skill sets.

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