Kerala Based Waves Electronics Pvt Ltd is Making Waves in the System Engineering Space
A Kerala company that supplies products to the developed markets is not news. But what makes Waves Electronics special is that it does so in the technology space, that too in electronic hardware.
Set up in 1972, Waves Electronics manufactures a variety of custom built electrical control systems, instrumentation systems, electronic equipment and industry battery chargers. It manufactures products according to international specifications, and supplies them to leading companies in the country and abroad.
The company has state-of-the-art infrastructure and highly qualified engineers that help it deliver quality products to its clients. It has fully integrated electrical/mechanical CAD systems that help it design and deliver sophisticated systems of high quality.
Waves Electronics has a factory in the Cochin Special Economic Zone, from where it caters to the export markets. It has also commissioned a new plant at Kizhakkambalam, in Ernakulam district with the aim of serving the global market. The plant has the latest machines such as the Trupunch 1000, from Trumph, Germany - a punch processing machine, that helps it produce parts of high quality efficiently. “We would have required 10 different machines to do the job done by this single machine,” says Mr PI Chacko, Managing Director of the company.
Waves Electronics imported the machine with the help of a Rs 2.05 crore loan from KSIDC. “The officers at KSIDC understand the concerns of the businessmen much better than others,” says Mr Chacko of his experience with KSIDC.
The company has also started a research wing at its Kizhakkambalam plant, that is headed by Mr V. Manoharan, former Associate Director of the Naval Physical and Oceanographic Laboratory at Thrikkakara.
The company’s products are certified by international agencies such as American Bureau of Shipping, DetNorske Veritas, Lloyd’s Register of Shipping, Bureau Veritas and Indian Register of Shipping. It sells its products to Defence, Chemical and Steel industries, Atomic plants and space research organisations, electricity companies and shipyards.
The high quality of its products has helped Wave Electronics find buyers in any countries across the world. Exports account for around half of the company’s revenues. African countries such as Nigeria and Congo are its major markets. It exports its products to European nations including Germany, and is planning to setup a new plant in Switzerland to cater to the demand for its products in the region. “We plan to do basic manufacturing that is labour intensive, here and do the rest of the work in the new unit,” says Mr Chacko.
Even though the company is doing well on the export front, Mr Chacko is not satisfied with the growth in the domestic market. “The domestic market is price conscious and many players opt for cheaper products with lesser quality,” says he. “The state government should insist on a Kerala component in large projects in the state, to boost manufacturing here,” he adds.
A competitive tax structure would also go a long way in helping the industry flourish in the state.