1.Please enlighten us about the journey of Shripat Tech Innovation Corporation.

 

STICJourney started on 12th June – 2018 to cater CONNECT, CLAMP, PROTECT & MONITOR requirements of power sector, with optimistic belief that things are positive & will continue to be encouraging to us. We have experienced many unexpected positives & negatives in the past 3 years. However, we strongly kept ourselves into continuous improvement mode wherever possible. In Product front, we follow FIT, FORM, FUNCTION rules with customer delight factors like COMPACT FOOTPRINTS, LIGHT WEIGHT, ROBUST DESIGNS, EASY O&M etc.

We guarantee that our products will performbest at worst conditions with actual site installations, which has gained faith & confidence from user group.Our friends became our customers and some of our customers also became our friends which made our journey more interesting. We getnew productapprovals & orders from major customers like ADANI, TOSHIBA T&D, MPMKVVCL, BESCOM, PSTCL, ACME, BMRCL, OPG POWER, WINDWORLD and many more customers are major part of our journey till now. We are continuously looking for breakthrough opportunities in coming months.

 

2. How has the second wave of Covid-19 affected the electrical power industry?

 

The major setback is “Unexpected Rise in Raw Material Prices” which our industry is facing during & aftersecond wave of COVID and on the other hand, price reduction pressures from customers. The situations are very challenging and it’s difficult to handle this opposite trend. The low acceptability of new products in the Power Sector is also a concern, as major industries including utilities are trying to keep expenses at minimum due to reduction in their revenues.

 

3.What are the different products in your product list? Have you launched any new product recently?

 

We have various products which cater our theme of “Connect Clamp Protect Monitor”.

Till now, we have following major products categories,

1. TUSKER :A New Generation of Transformers Terminals – Patent Filed

2. KANGARU : Insulated Jumper Assembly – for MV & HV Lines

3. EASYCON : Shear Bolted Connectors – Complete Range 10-1000mm2

4. MVCC & LVABC Accessories

5. INSULATION Products

6. Solar IDT Transformer Terminals for Multi-Cable Connections

 

NEW PRODUCTS:

 

Recently we have launched “POWERKON – Substation Connectors upto 400KV” and got 1stbreakthrough at PSTCL for 220KV Circuit Breaker and Disconnector terminals and received one more order from major OEM for 66KVPower Transformer Connectors.We are expecting more orders for400KV Equipment Terminalsfrom major Generation Plant. POWERKON also include SMARTY, which is wireless communicable connector withintegrated temperature sensor. This product is under final qualification stage.

 

4.Could you brief us about the performance of STIC and about the overall performance of the industry?

 

At initial stages, STIC was engaged in identifying issues of customers and then proposing the potential solutions. This approach has helped us to enter other energy segments like SOLAR, WIND, OEMs etc. Thecustomers are looking for new products at economical price, which is abig challenge for us. Hence, we have taken cost reduction initiatives by optimizing the design and investing in improved manufacturing process.

We are working towardsexecution oforders as early as possible (ex-stock for some products), so that new orders can be served with bestlead times. Major utilities have approved STIC markfor our strongest positive approach - “Concept-to-Service under one-roof”. We have provided many applicable and proven solutions to various issues of customer e.g. Special Terminal for Switch Fuse Unit at ADANI Electricity, Mumbai.

 

5.What are some of the new and promising technology trends that are shaping the Indian electrical equipment industry?

 

Trend is to produce Energy Efficient products to reduce environmental footprints and to initiate energy savings. Power sector is witnessing many technological changes such as IoT - Wireless Based Smart Technologies which are giving Real-Time Live Parameters, Bigdata Analysis Process, Predictive Data and many more updates. All these New Technologies will need smart equipment as well as smart components also which is a new trendsetter for electrical equipment industry.

 

 

6.How are government policies influencing the power & energy sector?

 

Recent government policies are supporting infrastructure growth. As part of this, new policies allows 100% FDI in power sector which has boosted the FDI INFLOW. The schemes such as DDUVGJY, IPDS, SAUBHAGYA are expected to augment the electrification across the country, which in-turn will provide a much required boost to electrical equipment/component industry.

 

7.How STIC is transforming itself to cater to the emerging needs of the Indian market?

 

STIC is already into energy efficient connectors which is the need of hour. Also, we have developed I-IoT Based Solution SMARTY which is a smart communicable connector with in-built temperature sensor. We have further plans to develop more smart components for smart equipment which will be a part of smart grid trend.

 

8.What will be the outlook of Indian Electrical industry in coming quarters?

 

Considering announcement in recent budget and expected increase in power demand, our industry is looking forward to strengthen the electrical infrastructure and increased renewable shares in the power generation matrix. In coming months, new power projects are expected to kick-start with bidding process.