Leading Green Innovations
Vaayu Home Appliances India began its journey with a mission to introduce eco-friendly and green innovative ideas to the world of electronic products, specifically consumer durables. It strove to enhance and promote lifestyle through green eco-friendly products. While its journey was similar to other entrepreneurs, who had to take big risks for funding, the merit of the idea allowed Vaayu to inch closer to its dreams.
From a turnover of Rs 27 lakh in the 2015-16 fiscal, Vaayu’s turnover grew to Rs 2.15 crore in 2017-18. With increase in production capacity and addition of new product lines, the company now projects a turnover of Rs 11 crore by 2020 and a 20 per cent leap every year thereon.
The Challenges
Mokshmar recalls that the first, and the biggest, challenge for the company was funds. “I brought this into the business by selling my one and only asset my house. I never stopped my run for achieving targets. I approached many banks,” she says, adding, “We had a breakthrough after a year, when the chief minister of MP, Shri Shivraj Singh Chouhan, recommended the brand for funding under Credit Guarantee Fund Trust For Micro & Small Enterprises collateral free loan.” Vaayu received Rs 1 crore for purchasing machines.
Mokshmar faced other hurdles too. “It was a challenge to make men believe I was competent enough to handle and head all departments of the company. Initially people visiting the dealership would ask for my husband and he would have to divert them to me,” she says.
Poised for Growth
Vaayu has now mapped out its growth drivers to achieve its projected numbers. The company acquired land for construction of a factory, which is now gearing up to manufacture products as per market demand. “We have also applied for around three patents adding to the existing patents and have registered all our product brands and category for trademarks to ensure steady innovations in our product line,” Mokshmar informs.
She believes that the company’s mandate to contribute to reduction of the carbon footprint has helped it establish its cooling technology. In addition to the existing Vaayu hybrid chiller range, it is also launching products such as Vaayu Coolers, Vaayu RO with VAS, Vaayu Water Dispensers without compressors, Vaayu Wind and Solar Energy Systems, Vaayu Free Flow energy systems and so on, for residential customers.
She also stresses the importance of a growth focussed culture. Mokshmar says, “Delegation with flexibility, or workplace flexibility are norms within the company already. But I also want to motivate by being open to new ideas. In fact, this has helped us to develop leaders in the company irrespective of their job roles.”
