Omkar Speciality Chemicals wins the ‘Emerging SME of the Year’ Award 2013
IndiaInfoline (09/10/2013)
Pravin S. Herlekar, Chairman and Managing Director, Omkar Speciality Chemicals Limited (OSCL) receives the ‘Emerging SME of the year 2013’ award at the Thought Leadership Conclave -2013, hosted by Citi Bank in association with CNBC TV18, with the theme ‘Empowering the Growth of Emerging Enterprises’ in Mumbai.
An alumni of prestigious IIT-Bombay with a B. Tech in Chemical Engineering and a Post Graduate in Management Studies from Bombay University, Herlekar is a first generation entrepreneur who single-mindedly steered and spearheaded the entire initiative of transforming Omkar Speciality Chemicals Limited, from a startup in 1983 with a working capital of meager Rs 1.5 lakh to a fledging midcap company in last over three decades with topline revenues of Rs 211 crore with a growth of CAGR 45.77% in FY2013.
With a strong technical background, keen business sense and an unquenchable ambition for growth, Herlekar carved out a niche for himself in the niche chemistry landscape. After inexorably delving into the techno commercial viability of starting his venture vis-à-vis product identification and market feasibility for several years, Herlekar finally decided to manufacture import substitutes for pharma companies, which nobody was manufacturing in India during the 80s.
With all his unwavering determination, Herlekar went ahead to develop couple of import substitutes—molybdenum and selenium derivatives in his home kitchen as he did not have a full-fledge laboratory. This marked the start of Herlekar’s entrepreneurial journey.
Herlekar’s visionary and astute entrepreneurial leadership resulted in OSCL emerging as one of the leading speciality chemicals conglomerates, driven by research and strategic thinking on a global scale.
It’s a relentless pursuit of Herlekar who had the cheek to retreat from the beaten tracks and create an institution, which today influences not only the speciality chemicals community, but the country at large.
Herlekar’s importance to quality, prompt delivery and service led him to integrate forward and backwards—thereby manufacturing a diverse portfolio of niche speciality chemicals, including an assortment of organic, inorganic and organo inorganic intermediates, which find applications in a plethora of industries comprising pharmaceuticals, chemical, glass, cosmetics, ceramic pigments and cattle & poultry feeds.
Today, OSCL exports its diversified product range across 21 countries, including regulated markets, such as Europe, Canada, Asia (China), South America and Australia. Under his leadership, the group’s business and revenues have grown manifolds.
Some of OSCL’s ‘niche’ high value-added products, including pharma intermediates like resolving agents face no competition globally; and especially from China. Do not foresee any ‘risk’ in the business as it is largely driven by a wide customer base. Besides, a roadmap for next five years has been laid down in terms of products, markets and geographies.
He was ahead of his time in foreseeing the growth of speciality chemicals business in India. Growth through quality, innovation and market consolidation has been Herlekar’s business mantra. His focus on research and development has enabled the group to develop products which cater to the demand of pharma intermediates for drug manufacturers and supplies specialty chemicals for varied end-user industries like glass, agrochemical, paints/pigments, poultry and cattle feed, water treatment, and electroplating industries. As a part of the forward integration strategy, OSCL forayed into human and veterinary API manufacturing genre with acquisition of Lasa Laboratories in April 2012.
Today, Herlekar is widely recognized across the speciality chemicals industry for his path-breaking and visionary contributions towards transforming speciality chemicals landscape of India by setting new standards and creating world class manufacturing infrastructure to attract unprecedented levels of foreign and domestic investment inflows and generating new employment opportunities.
Herlekar spearheads business development, expansion initiatives, financial management, investment and regulator y affairs. He has a team of experienced and committed management team who are dedicated towards scaling the company to greater heights through innovation and excellence, thereby creating value for our stakeholders.