Speech of Mr. Madhav M. Deshmukh, Head of SME – Business Enterprises, M/s. Mahindra At ITAMMA AGM


at the 74th Annual General Meeting of ITAMMA at 11 am on 22nd September 2017 at M.C.Ghia Hall



Mr. Deshmukh chaired the 74th AGM of ITAMMA as the chief guest.

Mr. Madhav M. Deshmukh started his speech by appreciating ITAMMA for organizing large number of activities during the year related to technology, innovation and marketing issues which were creditable.  He also conveyed his best wishes to ITAMMA for celebrating the 75 years Platinum Jubilee Year.


Mr. Madhav Deshmukh said that his father was also associated with textiles and so it was an opportunity for him to recall his yesterday’s memory. The Chief Guest took the help of power point presentation during his chief guest address.  In regard with excellence he mentioned that, it is a continuous process and works gradually but not an accident.  He also tried to explain what excellence is by giving various quotes shared by renowned identities as below:


  •  “We are what we repeatedly do, Excellence therefore is not an ACT, but a HABIT” – Aristotle
  • “Excellence is a continuous process, not an Accident” --  Dr. A.P.J. Abdul Kalam
  • “Excellence is a gradual result of always striving to do better” --  Paul Riley


Everyone wants to achieve the excellence in this World but is reluctant to change.  Basically you should know what changes have happened and what is required to achieve the excellence. He said that an example in textile industry of “Haatmagh”, i.e. handloom technology now is being converted to hi-tech state-of-the-art latest technology shuttleless machines.  He further stressed upon the phenomena of change through a video film giving the story of an eagle; where one can see that the eagle has faced many challenges in its life span and when realized that change is must it has adopted by primarily taking pilot scale change i.e. a small flight and there after taking a huge flight.  Even ITAMMA has undergone various changes and now we can experience that ITAMMA is spreading its wings through geographical changes. 


Example of NOKIA was also quoted; where NOKIA was absolutely on top but what had happened to it we all are aware where the change was not experienced.  He also mentioned the need for change where he said that today we are in comfort zone and so accepting the current status.  However, there is a need of putting the business on the growth path.  The team size needs to be increased and the business should be spread out geographically with sub-optimal process. 


He also mentioned about the challenges we faced while experiencing the change like competition, market dynamics, service differentiation, standardization / innovation, technology upgradation and operational cost; where he once again mentioned about the eagle flight where internal control on the operation can be experienced through pilot scale experiments.  Every business myths we are experiencing and we need to open our mind  to what is realty.  It is very hard to come out of comfort zone where he gave example of a fish coming out of a fish pond from its family as it wants to change thus giving up the comfort zone.


He added that, certain important points needed to be taken care like focus on process, provide industry best practices, improve customer satisfaction, translate goals into results, improve profitability and adapt to changing business dynamics. 


He also gave in detail the phases of change management through various examples.  He quoted the following 2 case studies:


M/s. Shweta Engineers Pvt. Ltd.  --  where he mentioned that it was a small company of a turnover of not more than Rs.3 crores and doing a job work.  Father of Ms. Shweta started machining business when she was a child somewhere in late nineties.  At that time, TATA Motors known as TELCO and Bajaj Auto was on a huge strike and due to that entire Pune District was in crisis.  Workers were having no salary, families were having problems and further the vendors were not entertained.  He mentioned about Mr. Rajan Nair who was behind this strike.  He had personally come to this factory and asked to close this factory and threatened the owner not to supply spares for TATA Motors.  Further, when Ms. Shweta went to college she purposely studied Diploma in Mechanical Engineering.  During the course of education when she went to the factory she realized that there were no orders due to the two Lathe Machines of conventional type.  She decided to change and had decided to do different from others where she concentrated on the technical problems which was very important where the oiling of the crank shaft of the machine was a tedious and highly precision job which required a particular type of drilling the oil in a specific angle in the machine in order to maintain the condition and performance of the machine.  Such type of machines were available with OEMs only but they were costing Rs.1 crore.  She used to come with a kid early in the morning at 8 O’ Clock with a kid in the factory and made a provision for of bed, kitchen, etc.  She put tremendous hard work efforts whole day in her job which I saw a great spark in her when I visited her factory.  I am proud to say that today I sanctioned Rs.4 crore loans for her however  in next month she will be coming to M/s. Mahindra Finance for paying the last instalment.


M/s. Synergies Castings Ltd.  -- Where he mentioned about Mr. Shekhar, Managing Director of this company who completed his Mechanical Engineering and was looking after this company.  Previously it was said that car wheels are basically made with the technology of bending and welding.  However, the hi-tech technology of alloy wheels was also available at that time but was imported and was available with premium cars.  Mr. Shekhar imported this technology from Korea and introduced various latest hi-tech machines in his factory in India.  Complete project was more than Rs.150 crores where he received a financial support from his American friend and some bank loans.  Somewhere in 1995, there was a huge Asia crisis and unfortunately Korea had a major problem and thus Mr. Shekhar was in great problem with a financial burden of about Rs.75 crores loan.  During the same period, many of the Koreans went back and ran away to their country and Mr. Shekhar left alone with this latest technology machines.  However, he took a bold decision of taking the spanners in his hand and started attending these machines with trial and error personally and was able to fulfill his production levels and further able to clear the bank loans in the span of 12 years.  With this constant and passionate efforts of Mr. Shekhar now he is handling a 100% project in SEZ.















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