The global Copper market has experienced a phenomenal upswing in recent years, with momentum fuelled by the dynamic visionaries of people like Madhav Bhatter, Managing Director of Shree Madhav Agencies (SMAPL). With his relentless pursuit of innovation, Madhav Bhatter has led his company to develop cutting-edge copper products tailored to meet the diverse demands of sectors ranging from infrastructure to sustainable power sources. Today, SMA stands as a beacon of inspiration, trailblazing a path for other industries to embrace its ingenious range of offerings and elevate services and solutions across various applications. As industrialization and infrastructure projects surge forward, copper's pivotal role becomes ever more apparent, making SMA an instrumental player in driving the industry's resounding growth.
Since its inception in 2013 in the Copper Space, SMA has earned a reputation as a premier provider of top-quality metal products. Guided by the powerful motto, ‘There's a Will and a Way’, the company's ideology permeates every aspect of its business. With the escalating demand for renewable energy sources, copper's significance as a vital component for electrical wiring and crucial components becomes increasingly pivotal. Shree Madhav Agencies recognizes this imperative and remains unwavering in its dedication to supplying the substantial copper
requirements that fuel the green energy revolution, contributing to a sustainable and prosperous
future for all.
Career Trajectory
Qualified with a B.Com (Honors) degree and owing the title of a Chartered Accountant, Madhav's educational journey laid a robust foundation in finance and business. To further enhance his expertise, he pursued the Certified Financial Planning (CFP) course from the Certified Financial Planner Board (USA), broadening his horizons in comprehensive financial planning. While his interest in pursuing an MBA burned brightly, destiny led Madhav on an enthralling detour into the world of business. The impetus for this new direction was deeply rooted in his upbringing, where dynamic discussions on industry and business matters became a constant source of inspiration and knowledge during dinner table conversations and beyond.
Fuelling his entrepreneurial aspirations, Madhav's father provided unwavering support in the form of a Free Hand to do whatever Madhav could deem fit. Learning from my own mistakes was a blessing in disguise. Securing a piece of land and a small rented office space was all that he got as a starting point in this Copper journey of which he knew nothing except its Atomic Number. Amidst engaging with the new copper project, Madhav concurrently embarked on his Chartered Accountancy course, setting the stage for a thrilling journey that seamlessly merged his financial acumen with the exhilarating challenges of the business realm. “From the outset, my focus was extremely clear: I wanted to venture into business.
I pursued the CA course not only to gain in-depth knowledge but also to acquire hands-on experience in taxation and finance—a valuable asset for managing day-to-day business operations. It is essential for all aspiring Chartered Accountants to know that the course provides extensive assistance not only to professionals but also to individuals aspiring to start their own businesses”, shares Madhav Bhatter, MD, Shree Madhav Agencies.
Overcoming Challenges with Experience
The early years for Shree Madhav Agencies were a true test of resilience. Conned by a trusted member and betrayed by poor machinery and quality, SMA persevered through the unknown industry, dedicating itself entirely to shaping the project. The experience at the seed stage still remains incomparable through the challenging yet defining journey. Picking up the pieces, as the team overcame personal business challenges, the industrial hurdles became more prominent.
Madhav places a lot of focus & emphasis on building & maintaining a strong team that acts as the spine for the business, nurturing true performers, & pushing individuals to reach their potential
The Copper Industry, akin to a precarious ladder, presents formidable challenges, demanding constant vigilance and precise margin control. Amidst well-established brands, establishing a presence without a groundbreaking product requires sheer determination and strategic prowess. Navigating the fiercely competitive landscape, fully aware that copper's intrinsic value could overshadow those who failed to continually enhance offerings, SMA continued to persevere.
“I'm grateful for the progress we have made over the years overcoming the many challenges that the business and situations imposed on us. In the Eastern Market, where there was a lack of awareness and unfair pricing, SMA played a significant role in balancing the market and benefiting consumers. Now our focus is on expanding, diversifying in our second copper plant in a couple of months and starting a completely different third unit by the end of this year, enabling us to penetrate the pan-India market”, further shares Madhav.
Growth Journey
In addition to the endeavors in copper, the company achieved success in acquiring and transforming two struggling Ferro Chrome units in Odisha, making them 100 Cr companies within a year. The firm also invested in a stainless steel company and witnessed exponential growth in manufacturing and supplying lead tubes to the detonator industry, which positioned SMA as the industry leader.
“As leaders of a metal house, tracking price and stock movements, staying updated on commodity-related news, and having a strong understanding of finance and commercial aspects are crucial responsibilities. Building networks, and engaging with investors have provided valuable exposure, and diversified views of other game-changing entrepreneurs have contributed tremendously to our growth. Additionally, having minuscule floor-level knowledge and a handson approach allowed diversification and the efficient management of multiple factories. Demonstrating sky-high commitment, particularly during challenging times earned us a reputation for unmatched service. We are practicing JIT at every level possible and have always maintained an aggressive stance, whether in domestic or export marketing, spreading our reach or making bold decisions”, further shares Madhav.
An uncompromisable element of every successful business is its workforce. Understanding the crucial role the team plays in the success of a venture, Madhav places a lot of focus and emphasis on building and maintaining a strong team that acts as the spine for the business, nurturing true performers, and pushing individuals to reach their potential. He believes in setting previous accomplishments as immediate goals and constantly striving to outdo them rather than comparing them with others.
“Evolving and improving over time is essential to stay ahead. Incentives and increments are important, but providing exposure, handling pressure, and striving for perfection is what SMA offers. If you’re an SMA, you are a performer. Intent, honesty, and work ethics are foundational and loyalty is valued over job-hopping for minor increments. I strongly vouch for the Karma Cycle and believe appreciation and growth within the same company is so much possible and I strive hard to foster this culture within my business”, adds Madhav.
Drawing from his own journey, Madhav shares suggestions and strongly emphasizes that uniqueness is a pivotal factor in business. "It's the time of Hard Money coupled with Smart Money. It cannot be ignored that this is the Century of Technology and we should all be adaptable to the uprooting of set practices, which this sector is capable of", shares Madhav.
It is also crucial to have a clear vision for the immediate future, even if targets are initially divided into stages, be it in upgrading oneself with or without tech. Policy and integrity have to be unwavering guiding principles. By upholding these ethics and offering something distinct in the market, whether in Copper, Chrome, or any other product, financial gains become a by-product. Seeking guidance and advice from industry experts while showing Gratitude is important in shaping the right path for sustained prosperity.
In the future, as this traditional business considers venturing into new products and tech-enabled solutions, the company will confront the additional challenge of building a high-performing team. In an industry characterized by oversupply, creating a buyer's market, where buyers exploit vendors and manipulate them, remains a pressing concern. To address these issues, the company is planning to distance itself from this Rat Race by strategically focusing on its unique niche products and exploring alternative markets.
It aims to navigate through the sharp volatility driven by news-based price movements, which can lead to unpredictable market reactions, often diverting attention away from fundamentals or technicals. The acute volatility will continue to affect process-based industries, posing challenges to investors and fund houses due to the perceived cyclical nature and margin erosions caused by fluctuations. Despite their substantial contributions to the economy, metal companies are expected to encounter ongoing issues with lower valuations and P/E multiples, reflecting the industry's turbulent nature.
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