Eco-friendly, Sustainable Solutions
Multi Décor India bagged the “Most Innovative Products by Emerging Enterprise” Award at the recently held 5th edition of Emerging Businesses Awards hosted by BW Businessworld. Established in 1992, Multi Decor India in no time has become one of the leading manufacturers of pre-engineered steel building systems in the country. The company designs and delivers all types of pre-engineered buildings (peb) structures across the nation.
The information available on their website says, "We are here to help you with our peb structures constructed out of the very best material so that you won’t need to worry about repairs in a few years time."
"We are an innovative organisation serving the market with eco-friendly and sustainable steel building solutions," shared Pradeep Choudhary, Chief Executive Officer of Multi Decor India.
India’s MSME sector
Presently, the micro, small and medium enterprises (MSMEs) sector accounts for 27 per cent of India’s gross domestic product (GDP). Despite several challenges faced by the industry, the number of MSMEs in India increased by a compound annual growth rate (CAGR) of 18.5 per cent from 2019 to 2020.
According to the Ministry of MSMEs, the sector alone employs around 110 million people across the country. It accounts for over 30 per cent of the gross domestic product (GDP) and over 50 per cent of exports. It is expected to contribute at least 60 per cent to India's target of exporting goods and services worth US$ 2 billion by 2030.
“This is the best time for the MSMEs sector in India, especially with the government giving us the push in the right direction. This is the best time for MSMEs to grow with the government schemes coming up, the market emerging and the PMO office giving the directive of a US$ 5 trillion economy. This is the perfect scenario to be in,” said Choudhary.
However, the sector has several hurdles to overcome. In spite of many challenges such as limited access to funding and capital, poor infrastructure and competition from big corporations, the industry has crucial things to offer in terms of employment and GDP contribution.
Choudhary added, “When it comes to the small businesses, hurdles are many. It starts from the delegation challenges, technical challenges to the one man army problem. Going forward, MSMEs should start delegating more and adopting more of the technology and they should also look into the innovation part.”
Future Goals
The management at Multi Decor India is extremely ambitious. The company is eyeing to become a net zero waste company by 2024 end, starting luxury housing products before December 2023 and decreasing average construction time by 25 per cent by investing more in research and development (R&D).
Interestingly, Multi Decor India has tied up with an international brand to bring the latest technology to India and it is eyeing to launch an Initial Public Offering (IPO) by 2027. Meanwhile, talking about the financial details, the company reported a turnover of Rs 36,25,15,000 in 2022-23 and a net profit of Rs 1,09,50,000 in the same period.
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