Veedol's Axle Oils and Greases for construction and mining equipment

“All our offerings such as EX3 Rear Axle Oil, HDB Prima Pro 15W-40 CI-4, Silk Shield Ultra Plus Grease, Silk Shield Supreme Grease and Multigear Plus 85W-140 HD are aligned with the requirements of the mining and construction industries,” informed Arijit Basu, Managing Director, Veedol. “We are introducing specialized greases and a specialty chemical range for degreasers and penetrants, which we believe will add significant value to these industries.”

EX3 Rear Axle Oil, HDB Prima Pro 15W-40 CI-4

“As a value partner, our aim is to address the challenges in the construction industry, especially with regard to time, which is more valuable than money in any construction project. The solutions we offer are designed to help save time, optimize project timelines, and, in the process, contribute to the overall optimization of project costs. This positions us as a strong value-added partner for the construction industry.”

He added, “Customized solutions should not be provided blindly because, many times, standard solutions can be more economical and better suited to the purpose. However, in cases where there are specialized requirements from the customer—such as a customer with equipment like crushers that demand specialized bearings requiring high-performing greases, we do offer customization. We have the necessary capabilities, in-house research and technology, and services to provide an end-to-end solution customized for that specific application.”

He informed that on-site condition testing of used oil, monitoring and analysis are crucial aspects for customer support. “Basic testing can be done on-site, and we, like any lubricant supplier, are willing to assist customers with that. However, for more detailed analysis aimed at helping customers optimize their processes and costs, we regularly take samples, conduct tests in our lab, and provide reports. For customers requiring a just-in-time response, we have even set up labs inside their facilities to deliver solutions promptly. The options are diverse, but as we understand the customers' requirements, we tailor our approach accordingly.”

“Additionally, we assist customers in selecting products that align with their application requirements. Many times, the solutions that they have been using are found to be over-engineered or not relevant to the current times. The context or requirements might have changed and a little fine-tuning of their overall product portfolio—where they may be using 3-4 types of products—can be simplified into a couple of products. This simplification can aid in inventory management, supply chain efficiency, cost reduction, time savings and overall plant efficiency. We are open and encouraged to take such an approach if the customer is willing to engage in this process.”

The transition from BS-IV to BS-V in the construction industry is a progressive process. As a brand, Veedol not only participates but also takes responsibility for educating people associated with the industry, including its suppliers and customers across the entire value chain. The company engages with customers both independently and through platforms like EXCON to build awareness and facilitate a smooth transition. “This shift will impact lubricant companies, and any transition, in my view, will have a positive impact on overall offerings and technology support,” said Arijit Basu.

Veedol is actively involved in sustainability initiatives, and has been recognized for its sustainability efforts in Mumbai at the ROSEFIELD International Lubricant Conference. Initiatives include modernizing its plant with automation, implementing solar roofs that generate sustainable energy (for captive use and also contributing to the grid), and closely collaborating on refined base oil technologies. The company uses nearly 30% recycled plastics in its packaging materials. “While these initiatives are not currently mandated, we understand the importance of ESG and have proactively embraced sustainability.”

“We are partners with major OEMs in both the automotive and industrial sectors, with many of these associations spanning over a decade. The reason is the trust they place in our brand due to our quality, and also because of the services provided by our dedicated team. We have a 50-50 joint venture in India with Japanese energy major, ENEOS Corporation, through which we collaborate with several prominent OEMs like Honda, Kobelco, Kubota and Hero MotoCorp. Through our Veedol brand, we have associations with major automotive OEMs like Royal Enfield and SML Isuzu.” On the industrial side, our partnership with companies like Dynapac and Schwing Stetter goes beyond just the number of years and is part of their journey and progress. In the lubricant industry of India, we are among the few companies that have both oil and grease as part of in-house manufacturing.

Veedol has 5 strategically located factories across India: in Faridabad, in Howrah near Kolkata, in Oragadam near Chennai, in Turbhe near Mumbai and in Silvassa. It has a dedicated grease R&D facility at its Oragadam factory and an oil R&D facility at its Turbhe plant. “This organizational structure allows us to efficiently meet the diverse needs of our customers,” averred Basu.

“We are progressing quite well, especially as we enter the business end of the year, with our fiscal year ending in March 2024. Our growth is robust, and I am pleased that we are achieving profitable expansion. We anticipate finishing the year on a strong note, and as a listed company, we will publish our financial numbers by the end of the fiscal year,” he informed.

“In India, we have already made substantial investments. Currently, we are exploring diversification into various business areas. Despite these new opportunities, we recognize that the lubricant industry in India holds immense potential, and we have a lot of headroom in terms of growth. Therefore, our primary focus for organic growth involves investments in the modernization of our plants, research and development, and our workforce. Internationally, our expansion efforts are concentrated on major markets: we have two subsidiaries in the UK and Dubai and are expanding our international business through franchises and distributors in various regions.”
NBM&CW - January 2024
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