Mr Ashok Bansal and Mr Ajay Bansal
September 28, 2021
Stainless Post interviews the dynamic director-duo, Aditya Steels, Mr Ashok Bansal and Mr Ajay Bansal. Starting from a humble pump shop in Kaithal, Haryana this duo has went on to make a name for themselves in the north Indian stainless steel pipe & tube market. Here’s an exclusive tete-a-tete with them.
- Tell us about your journey so far / Tell us about your family and background
Mr Ashok Bansal: We come from Kaithal, a small district in Haryana. As youngsters, we were quite restless and driven to take up new things. We both received our Bachelor’s degrees in Commerce and were eager to start a venture of our own. In 1990, we started with a humble motor and pump shop. We went on to understand the market and gain experience in the sector, while primarily catering to north India. After more than 20 years, we had a sound understanding of retailing and wholesaling, we went on to move in the manufacturing sector. In 2014, we started Aditya Polymer Industries and started manufacturing plastic water tanks. Soon, we realised a vast untapped potential in the stainless steel sector. This led to the foundation of Aditya Steels (then Aditya Steel Industries in 2018, and the official setting up of Aditya Group. We are committed to serving the increasing demand of stainless steel tubes and pipes in the country, while maintaining quality as our key differentiator in the market.
- What motivated you to start this business?
Mr Ajay Bansal: Today, India is the fifth largest economy in the world and one of the fastest developing nations. However, India’s stainless steel consumption is still one-third of the world average. Moreover, it is less than one-tenth when compared to developed nations like United States. We believe that in the coming 10-15 years, India will see a strong uptick in its consumption of stainless steel with newer avenues seeing the light of the day. This is something that motivated us to enter in this domain. From the first day of operations at Aditya Steels, we have focused on delivering best quality products at competitive prices.
We received a positive feedback from the market for our delivery and quality. It was an achievement when we crossed 500 MT sales in just the first year of starting operations. We intend to deliver this in the long-term as well.
- What are the notable changes in your business?
Mr Ashok Bansal: The market had just started reviving from the aftermath of the pandemic when the the market saw an uptick in raw material prices. The past few months have been challenging for all of us. This sudden global development has led to prices going over 50% in less than a year. However, fundamentals of the stainless steel industry remain solid and long-term growth in demand still intact.
- When and how did your journey with Jindal Stainless begin?
Mr Ajay Bansal: Our association with Jindal Stainless dates back three years, when we started operations at Aditya Steels. Among several options to procure raw material from, Jindal Stainless was a clear winner, owing to its legacy, reliability, world-class quality and brand reputation. We didn’t even think twice before choosing Jindal Stainless as our sole raw material supplier.
Our relationship with Jindal Stainless has been seamless from the beginning. With a timely and sufficient availability of raw material, we’ve never failed at any of our production obligations. The Company also provides us an online platform which makes order booking, tracking delivery, and payments quite easy. Moreover, the ‘Jindal Saathi’ campaign by Jindal Stainless has been a key differentiator for us. Using the campaign stamp on our products helps our quality product stand out in the market.
- What is your message to young managers/ future generation?
Mr Ashok Bansal: We wish for all young entrepreneurs to grab every opportunity along their way and keep learning from their mistakes. We ask you to welcome new challenges and never hesitate from doing something unknown. As long as your work is backed by proper research and hardwork, it’ll always pay off in the long term.