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PR OFILE


“It has been a long journey,” admits Suman.


“There have been ups and downs.” In 1996 the Saraf family went public with one of


its companies based on Taiwanese technology. “But we didn’t get the right people to run it, so in


1998 we sold that listed unit to one of the big steel conglomerates in Hyderabad and we regrouped the group into a much bigger focus with better technology in 2000 under the name Radha TMT,” Suman explains. The next test came almost a decade later. From


2008 to 2015, 80% of the steel industry closed in Andhra Pradesh—the region formerly governed by Hyderabad. “The market was very bad,” recalls Suman.


“Cheap steel was being dumped from China, so it was a very tough period. But we survived it and came out stronger because we never over-leveraged our assets. We always believed in limited funding from the banks,” he says. Today Radha TMT 550 is the brand name of


their thermo-mechanically-treated (TMT) steel bars that use revolutionary German Thermex technology to produce high-quality primary steel. Their products get used in a wide range of construction projects from roads and dams, to high-rise buildings, and residential housing. It has two fully-fledged, state-of-the-art


manufacturing units at Shankarampet, Chegunta village in the Medak district and in the industrial belt at Nacharam, Hyderabad that include steel melting induction furnaces, fully automated hi-speed rolling mills, continuous casting machines, and world-class testing facilities.


Above:


Suman Saraf (pictured) and his brother


Sunil Saraf continue the legacy of their late founding father Shri Radheshyam Ji Saraf


“Quality is the top priority,” says Suman.


“Making profits is not important to me. Profits will flow if you provide a good product, that is the entire value system which has been inculcated from my father to me, and from me to my next generation.” Despite the flood of cheap imports, there are


reasons to be cheerful: “The market is booming,” enthuses Suman. “The latest government central budget has provided six lakh crores rupees ($87 billion) for infrastructure development. A slew of measures to boost domestic manufacturing, smart cities, higher expenditures on railways, and affordable housing will create a lot of demand for steel, so the future looks very bright.” This demand has pushed annual revenues for


Radha TMT to INR 550 crore ($80 million), which saw total revenues top out at INR 1,000 crore rupees ($145 million) when combined with the family’s other businesses that invest in real estate and construction “in a big way”. Their non-steel investments involve buying up non- performing assets from banks, typically factories, selling off the machinery, and keeping the land to capitalise on its increasing value.


CLASSROOM AND BOARDROOM The Saraf family may have diversified away from a sole reliance on steelmaking, but the operating business demands focused attention from Suman, Sunil, and the third generation who are either working in the business, or completing education. Suman’s day-to-day responsibilities involve building Radha TMT into a national brand, while Sunil is focused on purchasing the raw materials required


16 CAMPDENFB.COM ISSUE 75 | 2019


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