Miraj Group Eyes Global Markets With Digital Transformation Push

The Miraj Group is quite diversified, with more than 20 companies operating across such sectors as printing and packaging, food, pipes and fittings, real estate, engineering, hospitality, and retail. Headquartered at Nathdwara in Udaipur, Rajasthan, it was established in 1987 by Madan Paliwal.

The Miraj Group was also in the news some time ago for being instrumental in developing the magnificent Statue of Belief or Vishwas Swaropam in Rajsamand district in collaboration with the Rajasthan government. The 369-feet tall statue is said to be the world’s tallest Shiva statue.

The group’s entertainment arm, Miraj Cinemas, manages 66 properties with 219 screens in 47 cities across 16 states in India. In an interview with Bizz Buzz, Mantraraj Paliwal, vice-chairman of the Miraj Group, shares insights into Miraj’s core growth areas, emphasising digital transformation, Industry 4.0 integration, and a push toward new markets and technologies

The Miraj Group seems to be quite diversified, with interests in pipes and fittings, printing and packaging, food, real estate, engineering, hospitality and retail. Which is the biggest segment among these in terms of turnover?

The Miraj Group has successfully diversified its operations and established a strong presence across multiple sectors. With Miraj Development Ltd and Miraj Entertainment Ltd leading the way, it indicates a solid performance in real estate and entertainment. The pipe division also seems to be a significant competitor, highlighting the group’s balanced growth strategy. This diversity likely helps the company mitigate risks and capitalize on various market opportunities.

Many prominent business houses are primarily present in related fields. Whether in business or culture, diversification is our strength and expertise. Each segment has the potential to have its own subsidiaries.

What is the size of the group?

Miraj is a leading player in industry, with most of its verticals poised to exceed the medium MSME segment, and several already surpassing it. Our team comprises of 350+ team members with the overall team strength of more than 5,000 employees. We strongly believe that our valuable channel partners and satisfied customers make us one of largest in northern India.

Where do you want to see your group in terms of both topline and bottom line?

We are committed to achieving double-digit growth in our top-line values, while exercising diligence in mitigating inflationary pressures on our bottom line.

What are your plans for the group in the next two years?

Over the next two years, we plan to leverage the robust growth of the Indian economy, which has consistently shown an annual growth rate above 7 per cent. As India becomes a preferred choice for global manufacturing, we’re optimistic about the opportunities ahead. We are committed to adopting digital manufacturing practices aligned with Industry 4.0 standards and are investing significantly in our workforce. As a data-driven company, we are focusing on integrating new technologies to enhance our operations and drive innovation.

In India, Miraj Pipes and Fittings Pvt Ltd is set to become the pioneering pipe company that provides agricultural infrastructure as a service specifically tailored for farmers. This innovative approach reflects our commitment to enhancing the agricultural landscape and supporting the nation’s agrarian ecosystem. We are dedicated to delivering a holistic support system to farmers, which encompasses essential resources, specialized technical expertise, and a streamlined yield procurement process to maximize their productivity and profitability.

Our vision extends to high-end technology sectors, with a dedicated focus on industries such as semiconductors, satellite communication, and real estate development. In our piping division, we aspire to establish ourselves as the preferred B2B partner for large-scale real estate projects, ensuring that our solutions meet the evolving demands of the industry while fostering sustainable growth for all stakeholders involved.

What kind of challenges does your group face?

Business has always been challenging, and we consider it an inherent part of the journey. That said, I would like to emphasize the impact of international scenarios, supply chain issues, the availability of advanced machinery, skilled manpower, and relevant policies. We view these challenges as an implicit part of the game.

At the same time, we are addressing these challenges. Specifically, for skilled manpower, we plan to establish skill enhancement centers and training programs for graduating sophomores. Additionally, we are investing in research activities across India. The pipe business is highly competitive, with companies vying for larger market shares. This intense competition can lead to price wars and a decline in quality. Furthermore, larger players often use dominating tactics to control the market. India still requires its own sourcing and manufacturing capabilities for raw materials to create a more equitable market. To combat monopolies in raw material supply, the government should implement import-friendly regulations.

What are your expectations from the government?

The government is performing well, and has a significant role to play. Key factors such as power supply, access to raw materials, taxation, clearance and streamlined processes are primary concerns. Over the last decade, the ease of doing business has improved considerably, but there is still much work to be done. Just as the software industry has established global capacity centers, the manufacturing sector should also develop research capability centers, along with subsidies and promotional schemes.

The government plays a crucial role in initiating new projects and schemes more quickly and with a streamlined clearance process. This approach benefits the overall economy and fosters positive energy within the industry. Timely disbursement of funds and a business-friendly environment ensure active participation from private players.

Are you eyeing overseas markets for your products and services?

The Miraj Group is proudly exporting innovative packaging solutions to the vibrant markets of the Middle East and Europe. In our pipe segment, we are engaged in fruitful discussions with several key industry players to explore opportunities for technology exchange and collaborative ventures. We take pride in our relationships with satisfied clients in Nepal, Malawi, and Indonesia, who have benefited from our high-quality pipes and fittings.

As we look ahead, we have exciting plans in the pipeline for our food, real estate, and hospitality sectors, aiming to expand our impact in these dynamic industries.

The African continent is on a remarkable growth trajectory, and we anticipate that the coming decades will present substantial opportunities for Indian products to thrive. Indian businesses are establishing a strong presence internationally, playing significant roles in the policy-making processes and economic landscapes of various countries. In particular, we are focusing on developing strategic channels in Kenya, Tanzania, and Ethiopia to bolster our construction and pipe division.

Although it may be premature to embark on large-scale greenfield projects at this stage, our primary emphasis remains on promoting the 'Make in India' initiative while catering to our diverse global customer base.

How are you incorporating new technologies like machine learning and 3D printing?

Modern manufacturing is based on industrial automation with a process-driven approach. Industry 4.0 is adopted by most of the prominent industries. End-to-end process is now data-driven and generates yield with very high accuracy. In such a high-tech environment, 3D technology is the future of product manufacturing. In fact, it’s also making waves in the real estate industry.

Our research team is highly focused on these developments. Specifically, we are exploring 3D technology for the fitting segment within the pipe industry. We are well associated with the research fraternities and universities for the latest development and collaborative activities.

As everyone knows, data is the key, and we are a data-driven company. We have automated plants supported by ERP solutions like SAP S4 HANA to handle our routine tasks.

The next step is to utilize input directly from machines to make informed decisions and achieve optimal efficiency. The supervised machine learning models have been applied in the analytical study of sales and production forecast.

We are currently undergoing a digital transformation to implement Industry 4.0 at the shop floor level and enable AI-driven decision-making at the executive level. In the near future, plant machines will be able to upload the production data to the cloud on their own. This real time feeding shall ensure just in time approach in the process, production and supply. Furthermore, our new hiring initiatives clearly show a preference for candidates with AI skills.