Modern Thermoplastics (INDIA) Pvt. Ltd.
Custom Molders of Thermoplastics

In Conversation

Polymerupdate Team: When did your company start operations ?
Uday Ralkar : My father Mr. Ramchandra Ralkar started the company under the name Modern Appliances Company in 1968. From initial manufacturing of consumer appliances, we shifted to handmolding in 1968 and consequently to semiautomatic machines.

Polymerupdate Team : When did you join the business and what were the changes brought thereon ?
Uday Ralkar : I am a Plastics Engineer in mold design having completed my engineering from the Central Institute for Plastics Engineering and Technology (CIPET), Chennai. Immediately after passing out in 1983, I joined the business. We then diversified into product and customer segment and laid a strong emphasis on the technical aspect. We invested in an automatic moulding machine. We became the no.1 suppliers for Crompton Greaves, Onida, Phillips and Kodak. Over a period of time we diversified our product segment into consumer electronics and consumer durables.

Polymerupdate Team : How did you strategize your operations as the 80s decade ended ?
Uday Ralkar : In 1989-90, we felt need to start outside Mumbai due to cost factors. We moved to Alibag and not Daman and Silvassa as like everyone else. The reason for choosing Alibag was that we did not believe in doing business based on incentives and also since Alibag is a port. Except mold manufacturing, all the other manufacturing activities were shifted to Alibag. We started making molds for Phillips loudspeakers as we envisioned the importance of other skills apart from other core plastics.

Polymerupdate Team : Tell us something about your association with Sharp Electronics ?
Uday Ralkar : We were deemed exporting VCR front and chassis wherein high quality and engineering expertise is needed to Sharp Electronics at a speed of 2,000 assemblies per day. These VCRS used to be exported by Sharp from their Export Oriented Unit at Pune meant for USA. After 4 years of providing the required VCR front and chassis to Sharp, we became the no.1 suppliers for Sharp and their CTV business was also offered to us.

Polymerupdate Team : How did you expand thereon ?
Uday Ralkar : After having proved our expertise with Sharp, Onida came to us with CTV offer. We invested in a painting shop for moulding. The CTV offer at the time was expanding at a rate of 30 percent per year.

Polymerupdate Team : What do you think was a breakthrough deal for your company ?
Uday Ralkar : Our breakthrough came when Swedish retail chain IKEA realized our potential and offered jobs to us as they envisaged in us a feasible replacement for European suppliers at Chinese cost. We started manufacturing vacuum flasks for the Swedish retail giant in 2006. The association proved highly successful as our dealings with IKEA reached 4 million Euros in 2006. We also started making lamps for the retail chain. Our importance in IKEA's scheme of things can be gauged from the fact that in 2006, IKEA carried a survey of 175 suppliers all over the world out of which they handpicked 25 key suppliers amongst which we were one. These 25 suppliers picked are expected to do business worth 400 million Euros with the company by 2010. In the future we are in plans to do business with UK retail chain TESCO.

Polymerupdate Team : What were the steps undertaken by you for retaining your domestic market ?
Uday Ralkar : For retaining our domestic market, we collaborated with Kosi Plastics Pvt Ltd in Pune and formed a company Modern Thermoplastics in 2002-03. We shifted our entire Sharp business to this company. Kosi is doing business with LG, Whirlpool and Sharp and is the topmost supplier for these companies.

Polymerupdate Team : What is your turnover ?
Uday Ralkar : We achieved a turnover of Rs.50 crores in March 2006 and hope to double the figure every two years.

Polymerupdate Team : What are your future plans ?
Uday Ralkar : We are planning to come up with an IPO in the next two to three years. We will also be targeting the automobile market in the near future.

Mr. Uday, Ralkar, Managing Director
Modern Thermoplastics (INDIA) Pvt. Ltd.
B-3, Gr. Floor, Synthofine Indl. Estate,
Off Aarey Road, Goregaon (E),
Mumbai - 400063
Tel :  + 91 22 2876 2128/ 2129
Fax : + 91 22 2874 1482
Email : uday@moderngroup.co.in
Website: www.modernova.com