Ad Here  
August
September
October
November
December
January
 
 
CAPITAL NOTES Hyundai India achieves 7 mn production at Chennai factory Smartphone onslaught by Chinese brands Toyota and Suzuki to introduce EVs in India by 2020 The unexpected exit Bajaj Finserv – Q1: fare well Tata Motors charts investments in PV and CV businesses Mercedes-Benz sales continue to zoom Wabco launches safety system The gainers and the losers V-Guard launches app-enabled water heater system TVS Automobile invests Rs.75 crore in start-up firms Hyundai to focus on SUVs and AMT variants PSU non-life firms seek to protect share Housing demand revival Yamaha unveils scooter boutique Dish TV – subscriber additions encouraging ITC – steep excise hike Titan Company – sales recovery to kick in Increasing market share Eyes strong growth in 2016-17 AL secures orders for 3600 buses Smooth sailing of SAIL Maruti – for young buyers He excels in the nuts and bolts of entrepreneurship Daimler grows sales and share in India L & T set bigger ambitions in defence business LVB posts 31 per cent growth in Q1 net profit New India Assurance posts impressive show Last stages Rane targets Rs.5500 crore topline by 2018-19 Consolidating leadership position in smartphones Land wars IOB on turnaround path Emami – a new growth mantra A welcome initiative-even critics are recognised It takes two to tango Ponni Sugars (Erode) Ltd: not so sweet 2012-13 Sundram Fasteners rejigs international Sivasankaran enters taxi space to take on Uber and Ola L&T profit up by 11 per cent TI Cycles plans retail expansion to drive sales for premium bicycles Welcome focus to improve rural India... L&T bags the Mumbai Trans-harbour link order Tata gets 4-star rating for Zest When small is not so beautiful… Are they really independent? 29 per cent jump in TCS revenues Tata Motors joins compact SUV bandwagon with Nexon Singur minus Nano – victory or folly? Solar installations exceed 2015 capacity in five months Tata Motors bets on new launches RoC in the dock... Ode to Ratan Tata Is this a generation gap? Aurobindo Pharmacy: good turnaround Chinese smart phones flourish in small towns too! Vellayan is back, after 150 days Back in growth mode PPP model for infrastructure development M & M unveils driverless technology for tractors Gamesa to set up a plant in Nellore TVS Srichakra plans capacity expansion From the toughest to the best year TN government keen on revival of operations at Nokia complex Michelin to double Chennai capacity A niche in FMCG business... Right to privacy – now it’s fundamental! Tata Steel, ThyssenKrupp sign MoU to merge European units Shriram Life clocks more than Rs.1000 crore premium in 2015-16 ITC chairman calls for policy impetus to transform agriculture Hindalco – re-rating L & T’s floating dock for navy Nissan exit shouldn’t affect ALL Carnival Films acquiring 3000 screens pan India HPCL plans Rs.61,000 crore capex over 5-years AL introduces Guru & Partner Tata Motors aims to be among the Top 3 global CV & PV firm AL wins Deming prize again Record two-wheeler sales Preparing for the next growth curve E.I.D Parry (India) Ltd: another sweet year Forging industry worried over lower supply of steel and its price Kone India eyes further growth in elevator market Daimler’s truck exports from Chennai cross 5000 units
 
He excels in the nuts and bolts of entrepreneurship
The most notable feature of Sundram Fasteners relates to its man-management. The focus on human relations and the paternalistic concerns explain the unit not losing a single day of production due to industrial relations’ issues.

My association with Suresh extended to the 1960s when I entered journalism. We used to meet at the office of S N Ramasami, the brilliant advertising manager of the group – a freedom fighter in white khadi, a four cubit dhoti and jibba – extremely knowledgeable with a blunt exterior and a soft heart. Suresh was just back after studying literature (not the traditional engineering or accounts common for scions of business families) in Germany. 

He described his entry into business: “uncle TS Srinivasan, asked me to take charge of a bolts and nut manufacturing unit in the small scale sector at the Ambattur Industrial Estate.  I had least idea then on the technology or process but the machinery supplier provided inputs on these. I went into the details and learned the techniques of cold forging and extrusion by experience and close involvement.”

In those years, the field was dominated by the company, Fit Tight Nuts and Bolts P Ltd,  Mumbai and the British company Guest, Keen, Williams that was supplying bolts and nuts to the railways and other large customers in the engineering sector. When Fits Tight Bolts and Nuts had a labour problem which led the management closing down the shop, there was a windfall opportunity for SFL; the company was alert in grabbing it. SFL built its own plant at the huge Padi complex so thoughtfully conceived and built by T S Srinivasan. In quick time SFL became a dominant supplier of bolts and nuts. 

 

The CII exposure...

Suresh expanded his horizons, initially as the chairman of CII southern region and subsequently as the President of CII at the national level. This provided rich opportunities to interact with policymakers as also observe business organisations at the national and global plane. I remember the punishing schedule of his travelling thousands of miles for almost 24 days a month on CII business. This exposure took his credentials as a reliable and effective business leader. And opportunities for expansion increased. General Motors offered him the opportunity to supply radiator caps as original equipment. Suresh transplanted a British plant to Padi and in quick time emerged a prized vendor for GM. 

 

Total productivity management...

Suresh constantly focused on systems and quality. I remember the passion with which he pursued the Japanese concept of total productivity management (TPM). He invited the TPM Guru Yamaguchi from Japan and passionately pursued the TPM concept. I remember his success in taking productivity of machines from around 35 per cent to over 80 per cent resulting in savings on capital investment and surging profits. 

Yet another pioneering contribution of SFL relates to his foray into manufacturing of fasteners in China. SFL was the earliest to make bold to set up a plant in China despite issues relating to language, distance… Later SFL acquired a precision forge unit in UK. These exposures further helped in the cross-fertilisation of manufacturing practices. 

The most notable factor of SFL relates to its man-management. Articulate Suresh spends time liberally addressing his workers in all his plants and establishes close rapport with them. The liberal pay packages and other benefits have built loyalty. Suresh refers with satisfaction to the hundreds of SFL workers providing quality education to their children who are employed today across the globe. 

Wife Usha was heading with distinction Upasana Finance and has been richly contributing to the growth of SFL and Suresh. Daughters Arathi and Arundathi are at the helm managing SFL. 

During 2016-17 SFL had a turnover of Rs. 3000 crore with a third of it coming from exports.  It has 27 plants employing over 9000. Surely Suresh and his teams know the nuts and bolts of successful entrepreneurship.- SV 


Reported On :
Sector :
Shoulder :
RELATED NEWS
ABOUT IE
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
 
PRIVACY POLICY
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
TERMS AND CONDITIONS
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
 
CONTACT US
S-15, Industrial Estate,
Guindy,
Chennai - 600 032.
PHONE: +91 44 22501236
EMAIL: indecom1968@gmail.com