Small scale industries (SSIs) play a vital role in the economic development of any country. They are a major source of employment, contribute to the country’s GDP, and boost exports. In India, SSIs account for over 90% of all industrial units and employ over 40% of the workforce.
One such SSI is Arya Industries, a leading manufacturer of food processing machinery. Established in 1995, Arya Industries has grown rapidly over the years and now exports its products to over 20 countries. The company has a strong focus on innovation and has developed a number of patented products.
Arya Industries is a highly profitable company. In the last financial year, the company reported a revenue of Rs. 100 crore and a profit of Rs. 20 crore. This translates into a profit margin of 20%.
There are several factors that contribute to the profitability of Arya Industries. First, the company has a strong focus on quality. Its products are known for their durability and reliability. Second, Arya Industries has a well-established sales and marketing network. The company has offices in major cities across India and a network of distributors in over 20 countries. Third, Arya Industries has a strong team of experienced and qualified engineers and technicians. This enables the company to develop innovative products and provide excellent customer service.
The success of Arya Industries is a testament to the profitability of small scale industries in India. With the right combination of factors, such as quality, innovation, and customer focus, SSIs can achieve significant success.
Here are some tips for small scale industries to improve their profitability:
- Focus on quality. Your products should be durable, reliable, and meet the needs of your customers.
- Invest in innovation. Develop new products and processes to stay ahead of the competition.
- Build a strong sales and marketing network. Reach out to potential customers and create awareness about your products.
- Provide excellent customer service. Resolve customer issues promptly and efficiently.
- Hire and retain qualified employees. Your employees are your biggest asset, so invest in their training and development.