The Indian plastic industry started off with producing polystyrene in 1957. Over the period of years, the industry today employs over 4 million people, comprises of more than 30000 processing units in which 85-90 percent are SME’s. Industry reports reveal that India is ready to have 18 plastic parks and the Government will be investing Rs 40 Crore (US$ 6.2 Million) to increase the domestic production of plastics. This will achieve environmentally sustainable growth and increase employment.
Spreading the mantra of ‘doing things differently and innovation’ to achieve success in the fast changing world with the help of experience, a promising company entered into the industry called as “Signet Industries Limited”. The company was formed in the year 1985, headquarterd in Indore, Madhya Pradesh and has a head count of over 520 employees. It’s belief in creating the world a better place has managed itself to develop a prominent client base such as Larsen & Turbo, TATA Projects Ltd, Sardar Sarovar Narmada Nigam Ltd, Megha Engineering & Infrastructures Ltd. The company is also listed in BSE and NSE.
Front runner of the Company
Signet is one of the fastest growing company in Plastic processing in irrigation and infrastructure segments. The person behind creating this venture, touching the epitome of success is Mr. Mukesh Sangla. With an experience of 4 decades in the field of plastic and agro-industries, Mr. Sangla is a graduate from Ujjain University and started his business at a very young age with the distribution of coal and books.
Mr. Sangla’s hands on expertise in the company’s finance and strategies and passion for work has ensured the company’s mark in every business operation. The internal team’s performance ability and system driven organization are considered to be his biggest strengths. He also envisioned to provide a good quality product at the best prices available. In the Polymer Industry, he is a well respected person.
Rendering Exquisite Products And Services
Signet understands farmer’s and all end user’s problems and delivers a solution with the help of an expert team. The establishment of complex supply supply-chain management and world class modern infrastructure with focus on fulfilling the needs of end users on a timely basis has been the key to its success. Company’s vision is to integrate and add value to needs of the country by introducing modern irrigation systems that will be fruitful for the farmers and the economy of the country. The company is one of the few companies that provides end to end solutions for drip irrigation from farmer training, soil and water testing, project design to implementation and after sales service.
Banking only on best global technologies and manufacturing products that cover wide range making Signet is a one-stop shop for all users has been an extremely rewarding approach. The Company started with the distribution of DCW’s PVC resins and imported Polyolefins. During the year 2017-18, the company entered into producing CPVC pipes & fitting segment and expanded the PVC fitting range and HDPE & Drip irrigation capacity. Currently, the company is producing upto 650 mm large diameter pipes. Recently, it launched large diameter fittings for HDPE pipes and also launched DWC pipes.
Further, the company is currently working on developing gas-pipelines and many more projects, in-line for both agriculture and infrastructure space. The company is taking the initiative to improve production efficiency in the company through automation and implementing industry 4.0. It also expanded its dealership networks and expanded PVC lines for infrastructure projects across key states in India.
Gifts for the Society
Apart from fulfilling its organizational goals, the company is also utilizing its resources for the development of the society. Signet’s work ethics and continuous improvement towards the better cost of production has allowed the customers to buy virgin plastic rather than cheap environmental hazardous plastic. The government’s initiative – GST has helped the company to train the users about the benefit of virgin plastic and avoid any use of plastic that strains upon the environment.
Future Prospects for the Industry
Even though the company faces challenges, the technology developments and innovations in the industry has helped them in overcoming those obstacles. The company foresees a strong future of plastics with a lot of innovative biodegradable polymers. The Biodegradable plastics industry is expected to be worth $6.12 billion by 2023. Globally reinforced plastics market is anticipated to reach $16 billion by the end of 2019. These plastics have been widely used in the automobile industry offering a great alternative to metal components. Another component of innovation is 3D printing. It is tremendously improving various aspects of plastic manufacturing and will continue to remain a catalyst for re-imagining options for plastic parts. With desktop 3D printers already on the rise, multiple plastics manufacturing companies are investing in the research and development of advanced plastics for 3D printing.
Signet Industry Ltd: Delivering Innovative and Quality Based Plastic Products
