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'Timing Creativity with Quality'

Friday, April 12, 2019

Jayesh Shah, MD & CEO of Sonam Clock Ltd.

Jayesh Shah is the MD & CEO of Sonam Clock Ltd. He is a First-Generation Entrepreneur. He is a dynamic individual and a firm believer in setting and achieving high standards in manufacturing clocks and movements for Sonam Clock Ltd. His innovative, futuristic ideas, open and receptive style, has set new benchmarks for the company. Believing wholeheartedly in quality and adding value, he ensures every aspect of the company’s output communicates the firm’s beliefs.

In conversation with Dominic Rebello, Jayesh talks about Sonam Clock's journey, its expansion plans and the reason behind having 95% of women employed in Sonam Clock Ltd.

How did the brand idea "Sonam" came into existence?
In the year 1996, I established Riddhi Enterprise in the tick-tick town of Morbi with a production of 250 pieces a day in a rented area of 1,000 Sq.Ft. I had set a goal to take the brand on the national level. In the year 1997, Sonam Planned to shift to its own premises with two story building aggregating 15,000 Sq.Ft. of area. In 1998, reached a new height in production capacity of 5,000 Pieces of wall clock, 10,000 Pieces of Ganesh Articles and 10,000 Pieces of Alarm Clocks with a strong distribution spread all over Indiawith a variety of Wall Clocks, Alarm Time Peace and Ganesh Article. The Company's Mission is "Creativity with Quality". The Vision of Sonam is to be the status symbol of good times in homes and work spaces across the globe by becoming a leading player in the world-market of clocks industry. Around the clock, Sonam Quartz is driven by the mission to be ahead of times by continuous technological upgrades, innovation in design and trend-setting leadership with the sole aim of producing world-class quartz time pieces.

The company offers a wide range of table and wall clocks at various price point across the budget, mid-level and premium style. With the huge variety of LED Digital clocks, LCD Clocks Light Sensor clocks, pendulum clocks, musical clocks, rotating clocks, Sweep clocks, table clocks and regular clocksalong with a wide range of more than 20 products. All products are sold under the brand name Sonam Clock and Lotus. The company’s manufacturing facility is based in Morbi, Gujarat and has a present installed capacity of approximately 72 lakhs p.a for clocks and 240 lakhs p.a for clocks movement. It is also engaged in the sale of clock parts which includes clock movement, clock cases, etc.

What were the Key Factors while establishing the Factory?
Sonam clock started its journey in 1996, began with a manufacturing and assembling capacity of 250 clocks per day. The current production capacity is 10,000 wall clocks and 50,000 clock movements a day with a strength of 650 people. With a robust network of 150 distributors and over 35,000 retailers and export to more than 27 countries across 4 continents.

What was your objective while achieving 95% of women employed in your company?
India's economy has undergone a substantial transformation since the country's independence in 1947. Since the times immemorial, worth of the work done or services rendered by women has not been recognized.

Now, it’s time women have stepped out of there house and have an urge to achieve a lot for their family and for themselves. Sonam Clock Ltd. provide employment to More than 650 employees were 90% of the workforce is female employees. Women employees are more disciplined. They do their work with sheer concentration. It is believed that when women works, entire family learns and grow. We provides them internal training according to the jobs assigned to them and as per the skills they acquire. We had organised a 2-day Art of Living session for the female employees.

The Vision of Sonam Clocks is to hire more & more women employees and assign them higher positions based on their capabilities. There is a great impact of women employee on company growth as in our company most of the work is done by women employees. They can increase the productivity & quality of the product as compared to the male employees.

As, the female workers must get up early and prepare food and then come for work as they must catch the bus at early morning, they cannot make food which contains the nutritional value and even some employees don’t eat breakfast before coming to the company as some don’t have time and some can’t afford it. So, after learning all this, the company started breakfast and lunch facilities in the company which any other company does not provide to their employees.

On the one hand it is true that, the working woman adds to the family income, improves the standard of the family as far as the income of the family is concerned. She adds to her personal image but, all this is achieved at the cost of insoluble problems created in the family and the society. Now, once she becomes an equal partner in real terms, she is bound to become a cause for worry for the man of the family, as, his ego and manly pride takes a flight to the winds.

What are your expansion plans?
We have recently declared our unaudited financial results for quarter and nine months ended December 31, 2018. The Revenue for 9M FY19 has been Rs. 51.1 crores. The EBITDA for the 9 months is Rs. 5.3 crores and PAT is Rs. 2.6 crores. During the quarter we have started the construction of our new plant which will increase our production capacity by 25% in Phase 1 to cater increased demand for value added products. The new capacity is expected to be operational in Q3FY20. We have recently expanded our product portfolio with launch of LED and Digital clocks in value added segments. Exports to Middle East and North African Markets, constitutes approximately 25% of turnover in 9MFY19 and continues to grow. In the domestic markets, South contributes almost 24% and is our most dominant market. We consistently expand our dealer & distributor network PAN India. We currently have 75 Distributors and 35000 dealers across our operating geographies. With the new value-added products and commencement of new capacity, we expect the next year to augment well with our historical growth trajectory and we will continue to better our target.

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