Page 12 - PARIS AIRSHOW 2023 INSIGHT | GBP

for forgings and castings supply, we are very
much helping customers convert their cast/
forged+machined parts to hog-outs. This is
something we will be highlighting at the Air
Show.

Q What are the major milestones that you
expect for your company in 2023? Now that
the industry has recovered from the pan-
demic, how high are your expectations with
regard to the various business areas of your
company?
Fortunately, 2023 started off on a positive
note with our customers steadily booking
orders for the next seven to ten years, pro-
viding us with good visibility and growth Hindalco-Almex, we are looking to deliver 100% in country value
prospects. We have already secured con- added parts to our customers this year, which adds to the overall
tract extensions through 2030 for most of sustainability proposition that Aequs brings to the table.
our agreements, which adds to our confidence
in the future. The investments we made, even
during the difficult times of Covid-19, are help- Q There is growing geopolitical and economic uncertainty in
ing us absorb new work due to our capacity the global environment. Do you see this impacting your com-
and ability to onboard fresh talent, thereby pany’s business?
facilitating our growth. We are on track to
make a strong recovery this year and surpass You could say global uncertainty is a continuum of what started
our pre-pandemic levels. with the Covid-19 pandemic. High inflation and continuing con-
straints in resource availability have accentuated the disruptions
wrought upon the industry by the pandemic. Interestingly, this
Q How focused is your company on sus- may have worked to our advantage. As I said, during the pan-
tainability? What are some of the initiatives demic, many resources retired or migrated, resulting in difficulties
in that area? for companies in the West to meet production requirements and
recruit new talent. While this impacted us also to a great extent
You might say sustainability was built into the during the pandemic, because of some of the actions we took,
Aequs’ operating model ab initio. The Belagavi we are comfortably placed in this respect. However, the current
Aerospace Cluster (BAC), which is India’s first supply shortages in specialty steel are impacting deliveries across
private sector Aerospace and precision engi- the industry and we are no exception to this.
neering SEZ, hosts a vertically integrated
manufacturing ecosystem with co-located
capabilities that deliver an end-to-end man- Q Supply chain issues are one of the major problems currently
ufacturing capability for global Aerospace being faced by the aerospace and defence industry. How is
customers. Typically, parts travel several your company dealing with the challenge?
thousands of kilometers across continents for
every step in the manufacturing process. Our The supply chain disruptions caused by the Russia-Ukraine war
USP is that no part moves beyond 500 metres prompted a restructuring and reevaluation of material availabil-
for the next step in processing. Therefore, ity, particularly regarding titanium sourced from Russia. As a
Aerospace components made at the BAC result, we anticipate some delivery adjustments and the potential
in Belagavi, North Karnataka, India, have for new opportunities in this area. Until new sources, such as
the lowest carbon footprint. This apart, our Japan, come into play and new forging and casting capabilities
manufacturing processes are compliant with are developed, the market will continue to face capacity con-
all global quality standards and sustainable straints. Supply chain restructuring is taking place to address
technologies. For instance, Aequs was already these challenges, while efforts are also being made to establish
into Industry 4.0 practices and paperless fac- new sources of materials. It typically takes three to five years
tory initiatives, even before sustainability and to bring new material sources online. These investments are
ESG had gained currency. Moreover, the 250 contingent on the original equipment manufacturers (OEMs)
acres plus BAC campus is among the greenest committing to take or pay clauses in our contracts. Fortunately,
industrial parks in the Aerospace industry. necessary steps have been taken to reduce dependence on spe-
Furthermore, through our partnership with cific companies, thus mitigating risks in the supply chain.

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