Jakson Power focusing on increasing market share“We diversified into associated businesses including solar IPP, solar EPC, solar products and electrical contracting which helped us sustain growth,” says Sameer Gupta, MD, Jakson Power SolutionsJakson Power Solutions is a diversified business group with multiple interests. With a rich engineering heritage of over 6 decades, Jakson has established itself as one of the leaders in its lines of businesses. Sameer Gupta shares about their mission of being Rs.2,500-crore company by 2016-17.Growing revenueBiggest achievement for Jakson Power Solutions has been timely completion of its maiden solar-based IPP of 20 MW in Rajasthan and diversification into field of solar power. Its revenue grew by more than 15 per cent and so did bottom line, despite challenges and business environment that has not been conducive not only in India but across the globe.Power sector through challenging timeJakson Power sees that projects have been put on hold and there is no capital investment happening which has severely impacted demand for capital goods. Power sector has seen bridging of demand-supply gap marginally which is primarily due to subdued demand. Policy decisions are delayed or lacking clarity which is making forecast on fresh investments difficult. Not only this, even the existing projects which are not yet complete are looming in uncertainty.Fighting against all oddsJakson Power focused on increasing market share for its existing business and increase customer spent by providing single window power solutions. The company diversified into associated businesses including solar IPP, solar EPC, solar products and electrical contracting which helped it sustain growth. There is a focus on cost cutting without compromising quality which is result of innovation and having system driven approach.More into investmentsJakson Power decided to make investments in times when industry was shying away in committing to new projects. It has enhanced its plant capacities for existing product lines which includes generating sets and power distribution products. It not only successfully commissioned company-owned 20-MW solar IPP but are continue to invest in more solar IPPs. The company has come up with a new plant focusing only on solar products and solutions in Greater Noida.Advising other playersAn organisation should focus on core strengths, be frugal and wise in spending or investing, build a strong team and healthy relationship with all stakeholders, and have transparent systems and process. Regaining industry momentumSpeeding up of policy decisions and timely implementation, primarily at government level, is the key to gain momentum. Over long term, fundamentals do appear to be in place but in absence of right framework, the industry can miss the boat. It’s extremely important that we as a country get very objective driven in our overall approach.Future outlookThe industry is bullish and positive over the future outlook. For India, to be at modest 7.5 per cent GDP which this country is capable of, there need be a lot of investments in infrastructure and power in coming times. Not only this, our per capita consumption in every segment is far lower than global standards particularly developed economies which is bound to go up in future, keeping next-generation expectation in mind.Jakson Power’s visionJakson Power’s vision is to building long relationships based on fundamentals of trust and transparency. This vision will help the company reach its mission of being 2,500-crore company by 2016-17.