Over the past decade, the demand for precision components across industries has increased manifolds. These components which are a quintessential need of several industries are now under highly stringent quality demands, with clients expecting absolute precision and quality. Although the industry is witnessing a growth in demand, it also continues to battle several challenges like the ongoing price escalations of raw materials alongside the multi-year fixed price contracts; shortage of skilled labor, and challenges of retaining skilled and trained employees, to name a few. However, despite the industry-wide challenges, a seasoned player in the industry - Patco Precision Components is navigating through these hurdles with unique strategies and a positive outlook.
In its early years, Patco began its operations in precision manufacturing with automats, pivoting a decade later to the cutting-edge CNC Swiss sliding head machines, which came to be the newest component useful for sophisticated machines. Over the decades, the company continued to revamp and enhance its operations, embracing every new innovation that came along. The result? Today, the firm has become a leading exporter of custom-made precision-turned components with particular expertise in diesel fuel injection parts, brake system components, and electrical parts.
Patco is a critical supplier of precision components of various configurations to key German OEMs, while also exporting several key components across Europe and the US. The firm’s focus on holistic growth with a keen sense of always learning what is new has enabled it to become adept in advanced manufacturing processes, a feat at which the firm remains unmatched. Moreover, the company’s incorporation of modern production techniques has simplified its large-scale production capabilities to enhance while simultaneously assisting in reducing the unit costs for auto precision parts without compromising on quality. In addition. the company also does 80 percent of exports.
“We believe that impressing the clients so much that you do not need to hire a marketing team is the best way to grow and remain a reckoning force in any industry. Since 2002, we have experienced exponential growth through word-of-mouth publicity, which we believe speaks for itself in terms of our product quality, our service, and overall client experience. Embracing a continuous culture of improvement, we are committed to precision, innovation, and striving to stay at a leading position in the industry”, shares Raviindra Patil, CMD.
Precision Manufacturing
Prominently known for manufacturing a diverse range of miniature and precision-turned components, the company excels in also manufacturing a wide spectrum of intricate machined parts. Some of its most prominent products include diesel fuel injectors, switchgear, brake assemblies, energy meters, and carburetor parts. On the front of intricate machined parts, Patco manufactures an assortment of components in steel, brass, and aluminum including bearings, connectors, throttle shafts for MPFI, spares for four-wheelers, and more. The firm’s flagship product is a differential case which is particularly in demand by German OEMs.
Across all of its product offerings, one thing stays common - stringent quality control. The fuel injection parts in particular undergo multiple checks, including measuring tolerances in microns.
To ensure optimal product quality, the firm has invested significantly in equipping itself with state-of-the-art manufacturing and inspection facilities, establishing multiple levels of automated inspection mechanisms which consist of auto-sorting machines, as well as recruiting highly trained personnel to ensure no faulty product goes unnoticed.
“We focus strongly on a pristine manufacturing shop floor, ensuring an environment conducive to precision manufacturing. Through a strategic amalgamation of cutting-edge technology, stringent quality control measures, and a highly skilled workforce, we consistently deliver exceptional quality across its diverse product range, solidifying our stance on being quality-focused”, further shares Veerdhaval Patil, Director.
Journey thus Far
Patco’s journey over the decades has been one filled with challenges and continued efforts to successfully overcome those challenges and achieve unparalleled growth. Starting with a small company with only 2 traub machines and insufficient finance, the company faced a significant hurdle early on with the recession hitting the country, forcing the firm to shift from
Kolhapur to Nashik with a major loan on its head. Renting a tiny 1000 sq. ft. shop floor area, the team worked hard to fulfill early orders, one of which pushed the company to pivot to Swiss Sliding Head Machining.
With a focus on training young employees as per its unique requirements, the firm ensures they stay with it for decades. Moreover, by employing the latest in technology and pivoting its products as per evolving industry standards, the company makes its customers habitual of its products. With an established ecosystem of the workplace with a customer and employee-centric approach focused on service and outstanding quality and pricing, it stands out as a trusted manufacturer of precision components.
Working towards making the company debt-free, the team worked day and night, finally achieving its goal in 2003. 2010 marked a significant benchmark in the company’s development as this was the year Patco established itself in Chennai, however, this was short-lived as the plant experienced heavy losses and had to be closed in 2013. Another major milestone came during the period of 2018-2019 when it went to Germany for the first time with the aim of marketing itself for the manufacturing of transmission parts. While this was a new vertical for the company, it was nominated by German OEM, allowing it to grow from two machining lines to 10 machining lines for Differential Case in one year.
Over the last few years, Patco has experienced exceptional growth, gaining multiple projects from the German OEM, acquiring 100,0000 sq. ft. of land for new constructions, and introducing new verticals to the business. This year, the firm has also established a completely automated plant with almost no men working in it. Throughout these successes, it has been driven by its core values and vision to continue striving for the better.
Patco is a critical supplier of precision components of various configurations to key German OEMs, while also exporting several key components across Europe & the US
“We just do things religiously. The business that we do or the parts that are made and given to our customers should be like offerings to God. This mantra has always steered us towards practicing ethical business practices, which has led us to the position that we enjoy today. We hold these values as the DNA of our company”, further shares Raviindra.
Future Ambitions
Since the beginning of its operations in the industry, Patco has always focused on continuous improvement which led to continuous expansion, which continues to be one of the core focuses of the firm’s future roadmap. Focused on self-improvement, the firm will continue competing with itself, with the aim of growing even more in the coming years, eventually becoming the best in the industry. For these achievements to be realized, the company would continue embracing new technologies and industrial trends, starting with the recent backward integration into Aluminium HPDC casting that Patco has incorporated.
“In my journey, I have learned that a potent wish, unwavering intent, and unshakeable self-belief propel us toward our goals. Ethical practices, coupled with spiritual management and relentless hard work, pave the path to exponential growth. True entrepreneurship isn't about rivaling others; it's about surpassing our own benchmarks in quality, growth, and reputation. Manifestation, a potent force, shapes our reality. With a dedicated team and spiritual guidance, the impossible becomes possible”, lastly shares Veerdhaval.
With such inspirational values at its core, and a continued pursuit of self-improvement, today, the firm has emerged stronger and is poised for unprecedented growth in the coming years.
