Hindustan Platinum aspires for top slot in electrical contacts

Ashish S Choksi, Executive Vice President, Hindustan Platinum gives a glimpse of company, products, manufacturing capacity, opportunities generated due to the government’s policies and many more in an interaction with Electrical India.

Being one of the leading manufacturer of metal products, how has been the journey so far for Hindustan Platinum?

Hindustan Platinum is a leading refiner and manufacturer of precious metal products. Founded in 1961, the company has grown to a global enterprise with more than 850 dedicated multicultural workforce. Hindustan Platinum has to its credit top-tier customers spread over five continents and 50 countries from USA to Japan.

The company ventured in to the precious metals business with laboratory apparatus and has now diversified into different business verticals – refining services, chemicals and catalysts, electrical contacts, nitro technologies and engineering products division, catering to various industries such as pharmaceutical, petrochemical, oil refineries, glass, fertiliser and electrical industries etc.

In our journey of excellence, we constantly strive for innovations. Our value engineering service in terms of providing the alternate alloy composition enables our customers to reduce the contact size, thereby offering cost benefit to our customers without affecting their product properties. This led to considerable value creation for our customers.

One of the major milestones we have in our journey is having Hindustan Platinum, amongst very few refiners in the world to be listed on the London Platinum and Palladium Market’s (LPPM) Good Delivery List for Platinum and Palladium and on the London Bullion Market Association’s (LBMA) Good Delivery List for Silver.

As a strategic move to strengthen our international footprint and creating better customer experience overseas, recently we have acquired ABB’s Humacao electrical contacts manufacturing plant in Puerto Rico. The deal is going to be closed this month.

What are the products offered by the company, particularly for power sector?

Hindustan Platinum manufactures electrical contacts such as silver bimetal rivets, profiles, contact assemblies, brazing alloys, silver wires and silver sheets which are used for low voltage and medium voltage switchgear application, wiring accessories, appliance industry, automotive, railways, defense etc. Currently, the low voltage switchgear comprises a major part our business.

What is the manufacturing capacity of your plant?

Hindustan Platinum is the preferred supplier for most of the leading names in switchgear and other industries across the globe. Citing the promising growth not only in the domestic market but also in the overall Asian and European market, we are doubling our production capacity at Navi Mumbai manufacturing capacity to cater to the need of these markets. As I mentioned earlier that the acquisition of ABB’s Humacao Plant at Puerto Rico will help us to garner the larger chunk of electrical contacts business to North and South American markets.

What kind of opportunities do you envisage with the government’s ‘Power for All’, UDAY, etc?

In domestic market, the environment is ripe for growth in manufacturing sector, the primarily being the infrastructure. Apart from electrical accessories and equipment manufacturing companies growing demand, the government’s initiatives such as Power for All, UDAY, Make in India, Smart Cities, Power of all, Pradhan Mantri Awaas Yojana shall remain the growth driver for the business.

Do you have R&D hub? What innovations would you like to incorporate in your products to make them more efficient and sustainable?

We provide a complete closed loop service beginning from refining, metal management, research & development, value engineering, with the highest precision and while conforming to the strictest quality standards.

Our investment in new technologies and R&D in the last few years has enabled us to reach the highest level of operational efficiency. Innovation has always been the core of our business and we have co-created many milestones with our customers to serve them better. We have now on-board industries best known internationally renowned technical experts. Their global expertise will bring fresh perspective and approach to our business especially in product development, process engineering and value engineering projects, hence improving the overall customer experience with Hindustan Platinum.

Why customers should come to Hindustan Platinum, How do you create value for them?

We have a committed team of professionals, who understand customer needs. We are working closely with many organisations for value engineering of their products. This helps our customers to be more competitive in their product group and increase their share of business. We also constantly monitor the market and based on the understanding of the growth opportunity and growing demand of electrical contacts products. Like recently we have increased the production of assemblies, welded products, brazing alloy in a big scale.

What kind of growth do you envisage for your company for the next three to four years?

Next three to four years would be critical for us, as we have been strategically investing in the infrastructure, talent acquisition and technology and innovations, as we aspire to be one of the most renowned companies in electrical contacts business worldwide.