¨Focus on cash flow was our religion.¨
- Avinash Gupta, Chairman & Managing Director, Technofab Engineering Ltd
Since inception in 1971 as a mechanical construction contractor, Technofab Engineering has evolved into a multidisciplinary contracting company, initially serving the thermal power sector and, since 2007, multiple sectors (thermal and nuclear power, water, electrical, oil and gas, and industrial) and geographies. Key strategies include adhering to its domain competence of turnkey EPC projects while diversifying markets, and steadily working to become leaner and more professional with increased use of technology.
¨Our quick and adaptive response to the slowdown helped us,¨ says Avinash Gupta, Chairman & Managing Director, Technofab Engineering Ltd. ¨Considering the reform-driven funding to the electrical sector, we sharpened our focus and successfully executed turnkey projects in rural electrification. Simultaneously, we redoubled our marketing efforts in Sub Saharan Africa and executed several projects there. Also, we weren´t carried away by the euphoria of the 2005-2009 period; we stuck to our core competence and avoided unrelated diversification. Growth at any cost was never our mantra, whereas focus on cash flow was our religion.¨ Despite the lack of concrete improvement, the company is optimistic about the future and expects its enhanced civil construction capabilities to help secure business in the domestic water and wastewater sector, such as the Ganga Action Plan and urban renewal projects.