Interview with Mr Rakesh Bansal, HALEFORGE TOOLS
1. Tell us about the company and product profile?
Our company 'Haleforge Tools' specializes in the business of manufacturing and exporting high speed steel cutting tools. We have been on the vanguard in the field of HSS Cutting Tools for the last 38 years, working under the visionary leadership of Mr Rakesh Bansal who has taken this company from meagre resources in 1982 to a Cutting Tools Brand to boast about. The nature of the business and market trends motivated us to launch our brand ‘Haleforge’ in the market in 2015. We provide a wide range of high-speed steel cutting tools in various grades of steel such as M-2, M-35, etc. as per DIN, AS, BS and Indian standards. Recently, we have started production of carbide drills, reamers and end mills. We plan to grow our operations steadily.
Our customer segments include automobile, agricultural equipment, railways, defence and other allied industries. Since the inception of the business, it has been a target to produce high-quality tools in order to elevate the experience of our customers. We are committed to providing our customers with high-performance products.
2. How are you planning to carry forward in the post-corona world?
Times have been hard for all the industries. As the modern global economy reopens slowly, we plan to keep all our dealers stocked up with running items in order to reduce the inventory costs of our customers and ensure that they get faster delivery of products. We also do not plan to go dark in the market, instead, we will try to actively communicate with our customers through various advertising platforms in order to acquire as many associations as possible. Every customer counts.
3. What changes do you foresee in the future?
The greatest challenge in approaching this year is the lack of a comprehensive understanding of the pandemic's nature, its breadth, or the likely exit from the current state. The next 12 months will be a recessionary economy. Every industry will change to a new normal. The most important metrics at this time for all businesses will be cash, reducing fixed costs, customer retention and employee engagement. Also, we need to be more connected than ever. Absorb the change in market trends and be prepared to shift the gears accordingly. Industries now must plan for survival. Their success in the next 12 months won't be determined by their growth or profitability, but merely by their ability to survive and not run out of cash. But despite the glum scenario, we are positive that there will be a resurgence. The spirit of innovation will lead to recovery across the world.