Mr. Neeraj Raja Kochhar, Chairman & Managing Director, Viraj Profiles Limited
In today's dynamic landscape, where industrial growth is struggling to do a balancing act with the impact of Climate Change, stainless steel has stood the test of time with its diverse industry applications and durability. Mr. Neeraj Raja Kochhar, Chairman & Managing Director, Viraj Profiles Pvt Limited, spoke to Midday in an exclusive interview about the role of stainless steel in a circular economy. Based in Boisar, Maharashtra, this company is a leading manufacturer and exporter of stainless-steel long products, serving customers in 96 countries across six continents. Mr Kochhar shared his insights on the company's sustainability practices, future aspirations, and the opportunities and challenges faced in the Indian and global stainless-steel markets.
1. With the growing emphasis on circular economy practices, how is Viraj Profiles integrating recycled steel into its production processes? What specific environmental and operational benefits does this approach bring?
At Viraj Profiles, the manufacturing process operates within a circular economy, significantly reducing carbon emissions. By recycling stainless steel scrap, the company turns today's waste into tomorrow's raw materials, exemplifying a zero-waste approach. The scrap is meticulously reintroduced into the production cycle, for contributing to the creation of world-class products.
We have successfully demonstrated that adopting a circular economy is not only sustainable but also ensures high-quality control, offering a viable solution for reducing waste and lowering carbon emissions in heavy engineering.
Additionally, it helps us reduce our dependence on virgin materials and manage costs more effectively.
2. Beyond integrating recycled materials, how is Viraj Profiles working to reduce its environmental impact and innovate more sustainable products?
Beyond recycling, we prioritize energy efficiency, waste reduction, and water conservation in our operations. Our focus on manufacturing sustainable products, through recycling, allows us to meet evolving market demands while minimizing our environmental footprint. We have recently commissioned a 130 MV DC solar power plant to cover 40% of our energy needs including the manufacturing process. We are also working on Energy Storage Systems (ESS) with solar power to be used in renewable energy generation that can be further utilized round the clock.
3. As a global exporter, how is Viraj Profiles strategically expanding its overseas business? What markets is the company targeting, and what steps is it taking to enhance its exports?
Viraj Profiles is expanding globally by targeting emerging markets in Asia, Africa, and Latin America while strengthening ties in Europe and North America. To enhance our exports, we're investing in quality certifications, building strong partnerships with international distributors, and focusing on customer satisfaction. We are progressing towards a near zero target in terms of our carbon footprint which makes us a preferred partner to global companies who are conscious about GHG emissions and their Net Zero goals.
4. What trends in the global steel industry does Viraj Profiles see as opportunities for growth, and how is the company adapting its approach to seize these opportunities?
The global steel industry is undergoing significant transformation. We see opportunities in areas like sustainable construction materials, heavy engineering, and machinery and plan to further our efforts towards green steel. We're adapting our strategies to capitalize on the current demand by expanding our product portfolio and investing in research and development.
5. The role of manufacturing in driving local economies cannot be understated. Could you share insights into how Viraj Profiles contributes to the economy through job creation? How many people does the company employ, and what roles do they play?
Viraj Profiles contributes significantly to local economies by employing over 10,000 people across various roles. We hire people from across the country and provide them with growth opportunities along with a positive work culture. Beyond job creation, we contribute to the local economy through our CSR activities, supply chain, and infrastructure development.
6. How is Viraj Profiles adopting new technologies to improve its manufacturing processes and maintain competitiveness in the market?
We're embracing new technologies to improve our manufacturing processes and maintain our competitive edge. Automation of processes, digitalization and integrating the latest technology in quality testing are our key areas of focus. The primary goal to integrate technology advancement is to help us boost manpower efficiency, quality, and overall productivity.
7. How does Viraj Profiles build and maintain strong B2B relationships, and what methods are used to assess and improve customer satisfaction?
We are a company in the B2B domain. Our products are used across various industrial sectors including construction, automobile, oil & gas, piping, and many more manufacturing and heavy industries. Building strong relations with our clients has always been one of the cornerstones of Viraj Profiles and we have been successful by providing customized products that are of top-notch quality. Our technical support, and a commitment to on-time delivery ensures trust and reliability in all our business dealings.
8. With fluctuating demand, trade regulations, and rising competition, what key challenges does Viraj Profiles Pvt Ltd. face in the global market, and what strategies are in place to mitigate these risks?
We are all aware of the geopolitical situation around the globe, especially in Europe and the Middle East, which is a major market for us. While we hope for the situation to improve, we are revisiting plans and adapting our strategies accordingly, especially in terms of supply chain. An advance planning and course correction in terms of delivery routes has helped us in facing the situation. We ensure our product and processes are compatible with regulations within India as well as other countries.
9. What is the impact of CBAM (Carbon Border Adjustment Mechanism) implemented by European Union on Viraj Profiles?
We are using renewable energy, natural gas, and SCADA-based monitoring systems in our manufacturing setup, and are also compiling the CBAM report for each of our products, on a quarterly basis. We are confident that with all these measures and further adapting advanced technologies that make way for more sustainable manufacturing, we can achieve our Near-Zero goals by 2030, similar to the EU targets.
