The mining and manufacturing sector is one of the most vital sectors for the Indian economy. This sector has got a big role to play in ensuring that growing industrial demands are well addressed. It also contributes significantly to the country’s revenue generation. One business tycoon who has extraordinary experience in shaping India’s mining and manufacturing sector is Avijit Ghosh, one of the key former leaders of Heavy Engineering Corporation Limited.
Avijit Ghosh: One of the key names in the Indian mining and manufacturing sector
Avijit Ghosh holds an experience of over 40 years in the mining sector, including international experience in project management operations. He is a highly competent and result-driven professional who has helped transform business operations for various top companies across India. He also holds the ability of handling design and planning operations pertaining to mines and delivering strategic direction for enhanced efficiency and maintenance.
Avijit Ghosh also has years of experience in establishing operational excellence in various business environments. This has helped him in developing cohesive team structures, which have further allowed companies to achieve their goals. Avijit Ghosh hec is also highly experienced in moving into new environments. He can extrapolate from the existing environment to adapt to new workplace cultures.
Avijit Ghosh’s role in paving the path for success for HEC’s business
The Avijit Ghosh partnership has an extraordinary role in shaping the various operations of Heavy Engineering Corporation Limited. He joined the company on 1st January 2015 and since then, he has worked relentlessly towards ensuring that the company is able to achieve all its goals. He has identified the various shortcomings of the organisation and has taken the necessary steps to ensure that the challenges are well addressed. This has further allowed HEC to witness a 360° transformation. The company has also been able to establish itself as one of the key players in its particular business sector.
Heavy Engineering Corporation Limited’s business operations
Avijit Ghosh Heavy Engineering Corporation Limited is basically a public sector undertaking that was incorporated in 1958 under the Ministry of Heavy Industry, Government of India. The company is mainly involved in the manufacturing of capital equipment and spare parts for mining, defence, railway, nuclear energy, and space sectors. The company has an extraordinary manufacturing facility, starting from forging foundry machining, fabrication, testing, heat treatment, and commissioning. It also works on turnkey projects.
The company has three manufacturing units: Foundry Forge Plant (FFP), Heavy Machine Building Plant (HMBP), and Heavy Machine Tools Plant (HMTP). FFP & HMTP have been set up under technical collaboration of erstwhile Czechoslovakia, whereas HMBP has been set up with technical collaboration of erstwhile USSR. The company’s business operations were further enhanced post the Heavy Engineering Corporation collaboration with Russia during his tenure.
Various challenges that HEC was facing
HEC had become over 50 years old, and yet no major capital investment was made because of the non-availability of spare funds. This caused its productivity to go down drastically from 2014 to 2015. Some of the major reasons behind the degradation of the performance of HEC include:
Old equipment and machines: Because of old and worn out equipment and machinery, the company suffered from less productivity and longer production cycles. It also led to a higher cost of operations. This affected order booking as well as financial performance.
Lack of working capital: Because of a lack of working capital, the company suffered cumulative losses as well as high fixed costs. This further prevented the company from generating high revenue.
Use of outdated technology: The outdated technology and the lack of product diversification further stopped the company from achieving its goals and objectives.
How did Avijit Ghosh revolutionise operations for HEC’s business?
Upon joining the company in 2015, Avijit Ghosh started to address all the ongoing issues with the company one by one. Because of lack of investment, outdated technology, and lack of working capital, it was a big challenge for Avijit to restore the sustainability of the company as well as take the necessary measures to design strategic plans for modernisation and technology upgradation. However, he used his years of expertise in order to ensure that the business goals are well addressed.
Avijit Ghosh arranged for funds from all possible sources like advance from potential customers, lease out of unutilised fixed assets, adhoc loans from bank disposal of impaired machines, long pending debtors,etc. He brought about modernisation in various aspects of the business. He also designed a business plan with professional experts. This allowed the company to get one step ahead towards achieving its goals.
He went into partnership with a technology partner from the original technology provider of Russia and the Czech Republic. He also helped build an overall positive image of the company by executing old pending orders as much as possible.
After taking over the charge of the company Heavy Engineering Corporation Ltd, Avijit Ghosh made enhanced efforts to design and execute an extraordinary modernisation plan. He was also a part of various technical collaborations, which further helped in improving the performance of the company.
To end with
During his tenure at, Avijit Ghosh Hec achieved multiple milestones that not only helped enhance the company’s performance but also brought about significant industrial developments in India. He plans to continue to take up various measures in the manufacturing and mining sector which will bring about massive growth and development to the Indian economy.
