Kisan Mouldings to fully automate its Extrusion Division at Tarapur at a total Capital Outlay of over Rs. 60 million

Polymer Pipe Industry player Kisan Mouldings (BSE: 530145) under the leadership of its new CEO Abhaya Shankar has chalked out an ambitious plan to put the company on a profitable growth track to achieve its ambitious growth forecast.

Kisan Mouldings ropes in industry turnaround expert Abhaya Shankar as its new CEOKisan Mouldings ropes in industry turnaround expert Abhaya Shankar as its new CEO

Hyderabad, Andhra Pradesh, May 20, 2015 /India PRwire/ -- Polymer Pipe Industry player Kisan Mouldings (BSE: 530145) under the leadership of its new CEO Abhaya Shankar has chalked out an ambitious plan to put the company on a profitable growth track to achieve its ambitious growth forecast

Its new strategy includes a project to fully automate its Extrusion Division at Tarapur at a total Capital Outlay of over Rs. 60 million.The project is likely to be completed by the end of 2015. This initiative coupled with measures like making the right investments, smart utilisation of plant capacity, new product introductions, and market and distribution strategy will help Kisan attain higher productivity, improved quality and lower costs.

Industry Outlook: The total polymer pipe industry in India is currently around Rs 18,000 Crores, estimated to be growing at 8-10% per annum. Certain segments within the polymer pipe industry have shown a higher growth rate in the past, like CPVC which has demonstrated a growth rate of around 15% per annum.

Strategy to deal with challenges:-On how Kisan will deal with multiple business and growth transformation challenges Abhaya Shankar said the Polymer Pipe Industry in India faced a serious challenge in the last financial year and Kisan was no exception, choked with uncertain demand, steep and unexpected fall in the price of Plastic Resin, leading to high and undervalued inventories. These factors put together created severe pressures on working capital and the financials of the company.

To address these challenges the Board of Directors first step was to bring a professional CEO on-board to lead the transformation. Vijay Aggarwal, Chairman of Kisan Mouldings said "Our foremost decision was to professionalise this traditional and family run organisation and build a team of professionals led by the CEO to take this company forward".

Exciting Changes in Kisan: - To manage its Working Capital & Cash Flow better, the new CEO has taken hard steps to control inventory & reduce receivables. Critical to transformation is the creation of a high performing & capable team at the top. The CEO has already put on track a new Management structure to head various functions such as Manufacturing and Supply Chain.

Consolidation Plan: - Company is considering the shifting of machineries from two of its North Indian Plants to its Plants in Maharashtra, after obtaining the requisite permissions and approvals, which should happen by the Second Quarter of the current Financial Year. Shankar said that this would help in Cost Reduction as well as launch a large range of products from our existing plants, thereby improving service levels to our customers.

Citing an example Abhaya Shankar quoted that there has been a significant reduction in the finished good inventory both at Plant Levels (by 9%) and at the Branch Level (by 22%).

Kisan's major strength is its Pan India Distribution Network & its brands namely Kisan & KML Classic. To strengthen its ties with its existing network of Channel Partners and to create a much wider network the company has devised an Outreach Programme to work more closely with them that will help in achievement of our aggressive goal of a 100% growth in the next 3 years.

Abhaya Shankar, the new appointed CEO brings a proven track record for transforming companies and leading them towards profitability & growth. "Having been trained with the Birla's building materials company, we are convinced that Mr Abhaya Shankar is the right choice to achieve Kisan ambitious growth target" Sanjeev Aggarwal, Joint Managing Director at Kisan Mouldings stated.

In his statement The Company's Joint Managing Director Ashok Aggarwal, said that the Board is extremely happy & satisfied in bringing Abhaya Shankar on board as Kisan's new CEO especially since Shankar has a proven track record for transforming companies and leading them towards profitability & growth.

Notes to Editor

Kisan & Classic are widely trusted for its quality & service. To revitalise the brand position the company is stepping up its efforts in Branding to further leverage this time-earned trust and to provide a support base for our Channel Partners to achieve our common goals. Kisan will soon embark on an Outdoor Media campaign that will ensure visibility across India and this is just the first step in our protracted marketing plan for the future.


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