Company Reports - Bevcon Wayors
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Bevcon Wayors: Inspired by Excellence
The name ‘Bevcon’ was coined after it was creatively combined with a few letters of 'Bucket Elevator Conveyor' in 1990. Formed with the intent of catering to the rising demand for bulk material handling solutions, Bevcon Wayors has come a long way by evolving as an industry leader that offers high-quality, technologically advanced bulk material handling systems. The company’s motto – ‘Engineering - Built to Last’ has been its success mantra since the last 20 years and even today Bevcon is fiercely committed to offer the best engineering services to its clients. The company proffers crushing, screening, conveying, dust extraction, pneumatics and special conveying equipments. Further, Bevcon’s turnkey solutions include custom design, manufacturing, installation and servicing of bulk material handling equipment. A majority of these equipments are manufactured at Bevcon’s facilities itself which provide customers greater flexibility for custom designs suitable as per their requirements.
Overall, the company specializes in providing solutions for Power, Steel and Manufacturing verticals. Besides its strong manufacturing strength, Bevcon has also collaborated with many top engineering companies located in America, Europe, Australia and Asia. In India, Bevcon has its presence all over with offices in Hyderabad, New Delhi, Kolkata, Chennai, Pune, Raipur and Bhubaneshwar. Group companies Spareng Inc. established in 2003 and Bevcon Zentry formed in 2004 have further strengthened Bevcon’s presence in the bulk material handling industry.
Bevcon’s key strength has been its world-class Research & Development division that offers cutting edge solutions and designs of long-term value.
Values & Mission
“The company’s core values are rooted in offering excellent services at all times” said Mr. P. Suneel Lakshman, Managing Director, Bevcon Wayors.Mr. Lakshman has a degree in mechanical engineering from BITS, Pilani. After a brief stint with Macneil & Magor in 1982, he joined his partner Mr. Y. Srinivas Reddy to establish Bevcon Wayors. Since the last 20 years, Mr. Lakshman is involved in every activity process that takes place in the company – from high-end technology adoption to forging foreign collaborations. “Our mission is to create technology driven smart engineering solutions that are built to last” he adds.
Trends in the Bulk Material Industry
“By its very nature, the bulk material industry is dependent on the needs of the industry sectors. Thus, the performance of thecore industry is closely tied to the bulk material industry. At present, we are seeing a slowdown in power projects and since power sector accounts too much of our business, the slowdown is having an impact on the bulk material handling industry. However, we expect the power sector to pick up in a year’s time” Mr. Lakshman said.
Formerly, bulk material handling was viewed as an unnecessary expenditure that offered no value addition to clients. However Mr. Lakshman believes that this perception is changing now with increased value delivery by Bevcon’s equipments and solutions. “Progressively, customers are now seeing bulk material handling solutions as a way of boosting efficiency in operations which is thereby decisively contributing to better manufacturing output. This, according to me, has been a welcome change in popular perception of the bulk material handling equipments and solutions utility” Mr. Lakshman opines.
Bevcon – Standing apart from the rest
“We are not just a manufacturing company; we create path breaking solutions to tackle different problems. Compared to others, ours is perhaps the most employee-friendly company having the best HR policies. Also, our emphasis on R&D, foreign collaborations and in-house manufacturing facilities make our products truly world class. Plus, we have 12 foreign collaborations across the world that has helped us offer matchless services to our clients” Mr. Lakshman states.
Bevcon has also made conscious efforts to increasingly embrace technology to assist and sustain its growth. All processes at the company are SAP enabled & Bevcon is also in the process of institutionalizing its CSR initiatives that will be clubbed with its green programs to further add to the welfare of the society.
Major Milestones & Awards
“In recognition of our contribution to the industry, we were awarded the prestigious “Udyog Rattan Award” and “Excellence in Business Award” in the SME category for the year 2009–2010 by the governors Her Excellency Smt. Margaret Alva (Hon’ble Governor of Uttarakhand) & His Excellency, Shri. M.M. Lakhera (Hon’ble Governor of Mizoram)” Mr. Lakshman stated. “These awards demonstrate the fact that we are not just an engineering company, we are a people organization as well” he added.
Bevcon aims at maintaining and further improving its position as a socially responsible, ethical and successful organization in the years to come. And to achieve this, the company has a strong vision & action plan in place too.
“We consider our employees as an indispensible asset to the organization. Their growth and development is of utmost importance to us” says Mr. Lakshman. To ensure this happens, the company has a variety of programs in place for them. Some of these include training & development, coaching and mentoring, mind-body wellness workshops, rewards, Performance Linked Variable Pay and annual get-togethers.
As is the case with any fast growing company, especially in the engineering sector, Bevcon also has its share of critical challenges. Firstly, losing good manpower to other organizations (not necessarily competitors) in the engineering/manufacturing industry still remains a challenge. “Secondly, since Bevcon is a medium sized organization, the compensation levels at which we are losing people is too high. But we are moving towards becoming a larger company…so these are common teething troubles we will have to surmount till we stabilize” Mr. Lakshman said matter-of-factly. “However we have always relished challenges and especially excelled under pressure. I see these challenges as motivating factor and I am sure that moving forward we will find ways to tackle these issues and ensure that we continue to stay on our growth trajectory” he adds.
Improvement Strategies & Future Plans
“Bevcon is one of the fastest growing companies in the SME sector in India and sustaining our growth is of prime importance to us. For the long run, we have a multidimensional approach. We believe in enriching our HR capital by managing and retaining the talent we have currently” Mr. Lakshman said.
Going forward, Bevcon is looking at exploring newer markets, build technologically advanced products and greatly emphasize on research and development. “We have various other programs in place for succession and transition management as well. Above all, we believe in doing well by doing good. We have a strong vision that by 2015, we will be pioneers in our industry - not just through our financial statements but by being a thought leader. We will add value to the industry, customers, stakeholders as well as the society” Mr. Lakshman concludes.