In today’s rapidly evolving and competitive Business landscape, leadership is no longer merely about managing day-to-day operations. It requires individuals who possess visionary leadership and possess extensive skills and knowledge specific to their industry. Discover the remarkable journey of Chandrashekar V, a Mechanical Engineering graduate and shining star from Bangalore University. With an impressive three decades of industry experience in Infrastructure, Mining, Construction, and Energy sectors, he has revolutionized the field.
Career Journey and Personal Life
Chandrashekar began his career in 1990 at L&T, initially working on the shop floor assembling earth moving equipment. After two years, he transitioned to sales and marketing, where he handled the sales and marketing of those moving equipment in the Northeastern territory of India, Nepal, and Bhutan. He later joined the Swedish multinational Svedala, focusing on establishing their business in the southern part of India. Chandrashekar then spent over 14 years in the construction industry, overseeing procurement, equipment management, and the construction of various projects in hydroelectric, irrigation, mining, Oil & gas and road sectors. Eventually, he took on the role of Managing Director and CEO of GMMCO’s construction business in 2019.
On a personal note, Chandrashekar has a family. His wife’s name is Chitra, and they have two children. Their daughter, Sheetal, completed her undergraduate studies at Georgia Tech in the United States. She then worked at Deloitte and pursued a full-time MBA at Kellogg, which she will complete in June. She plans to return to Deloitte after graduation. Chandrashekar’s son is currently pursuing his undergraduate degree in computer engineering at Purdue University.
Customer-Centric Solutions
GMMCO Ltd, according to Chandrashekar, doesn’t just sell products, but offers comprehensive solutions that are customized to meet the customer’s specific needs. As an example, for Coal India, GMMCO supplies and operates maintenance & repair contracts which are typically between 4 to 10 years based on the contract guaranteeing equipment uptime ensuring utilization.
When dealing with Construction companies & retail customers, GMMCO creates customer value agreements tailored to their requirements. These agreements can range from sending service engineers to project sites for support including parts as needed or comprehensive product support solutions. The solutions provided by GMMCO are flexible and adapted to the situation and the customer’s preferences. The company’s objective is to enhance customer profitability by increasing equipment availability and optimizing utilization.
Chandrashekar emphasizes that product support is a significant distinguishing factor in the market. GMMCO has workshops and provides comprehensive solutions to its customers. They offer various options such as equipment rental, equipment buyback, equipment trade-ins, in addition to sale of new equipment. Gmmco works with customers to offer rebuild solutions offering second life for equipment. This flexibility allows them to provide a wide range of services and solutions based on individual customer and project requirements.
Promoting Entrepreneurship and Excellence
Chandrashekar and GMMCO prioritize entrepreneurship and excellence as core values. They strive to instill these values in all individuals. Chandrashekar believes in fostering a culture of transparency and honesty, where people feel comfortable trying new things. In this environment, even if someone experiences failure, they are encouraged to focus on moving ahead rather than worrying on the failure. This approach encourages innovation within the company and promotes a fearless attitude towards taking risks and embracing new ideas. The organization believes that the biggest risk is riskless living.
Insights on India’s Growth Prospects and GMMCO’s Expansion Strategy
India is poised for significant growth in the next 10 years, emerging as one of the world’s fastest-growing economies. The current population of around 1.3 billion, it is projected to reach 1.5 billion by 2030, with a notable shift towards migration to urban areas. Currently, approximately 34% of the population resides in cities, but that is expected to rise to 40% by 2030.
The demand for power in India is set to surge, with the total installed capacity projected to increase from the current 400 GW to 1000 GW by 2030. While coal currently accounts for 50% of power production, it is expected to contribute around 40% by 2030, which will still represent a substantial amount of power generation. This increased reliance on coal will drive the demand for mining machinery.
Furthermore, data security & governments push for manufacturing in country will create ample opportunities in the energy and transportation sectors, which will be among the largest industries in India. Additionally, the country has ambitious plans for infrastructure development, with an estimated investment of over $10 trillion in the next decade. This heavy spending will fuel growth and open new avenues for businesses operating in the infrastructure sector.
Given the favorable opportunities in this sector, GMMCO aims to become a $1.2 billion company by 2026.
GMMCO has created a subsidiary, GTS, which has formed a joint venture with the German company Hauhinco. The subsidiary, known as HBT, houses approximately 60 design engineers with capability to design cutting edge equipment and components. GMMCO is actively working in multiple directions to facilitate the growth of its business and seize emerging opportunities.
Fostering Growth and Family Culture
Chandrashekar firmly believes that GMMCO is not just a company, but a collection of 3200 families. As the leader of these families, Chandrashekar is dedicated to fostering the growth of the business and ensuring that the employees also have opportunities for personal and professional growth. He finds these times to be exciting and takes immense pleasure in his work, driven by his passion for business. Chandrashekar acknowledges the importance of his team and their collective effort in expanding the company.
Chandrashekar strives to create a culture where transparency and individual contributions are valued. The employees at GMMCO are deeply connected to the company, forming a strong bond like a family. They take ownership of their work and are aware of their responsibilities. If there is a performance issue, they are self-aware and take necessary steps to rectify it and move forward. Chandrashekar appreciates the high level of commitment exhibited by his team.
Essential Qualities for Leadership Growth
Chandrashekar believes that several qualities are essential for continued growth and development as a leader. One crucial quality is patience. He emphasizes the need to retain the leadership team even during challenging times when business results may not be immediate. Instead of constantly changing teams, Chandrashekar advocates giving the team a long rope to perform, as long as they demonstrate commitment and talent. Patience is necessary to provide them with the necessary support and allow them to deliver results.
Another important quality Chandrashekar emphasizes is ensuring freedom to individuals to do their work. He believes in trusting and believing in his team, allowing them the autonomy to innovate and perform. Chandrashekar takes a step back and views the business from a distance, offering assistance when needed, but otherwise allowing his team to take the lead. He likens himself to the 12th man in a cricket match, providing support and resources wherever required but stepping back when not needed.
By giving people the freedom to work and feel ownership of the business, Chandrashekar believes that they will be motivated to grow the business and contribute their best efforts.
Prioritizing Commitment
According to Chandrashekar, when hiring a new team member, the most important traits to look for are commitment and talent. While talent is valuable, Chandrashekar places a greater emphasis on commitment. A person with talent but lacking commitment is unlikely to succeed. Chandrashekar believes that commitment, honesty, sincerity, and hard work are qualities that cannot be easily taught.
While talent can be developed and improved through training and experience, the innate qualities of commitment and dedication are crucial for long-term success. Chandrashekar and his team prioritize individuals who exhibit a strong work ethic and a genuine commitment to their work. These qualities contribute to building a dedicated and motivated team within the organization.
Nurturing Growth
Chandrashekar finds tremendous fulfillment in witnessing the growth and development of individuals within the organization, especially as emerging leaders. As a CEO, he holds responsibility for various aspects of the business, including revenue, profitability, employees, stakeholders such as customers, and the overall environment. While overseeing these responsibilities, Chandrashekar’s happiness stems from observing his team thrive and flourish. Seeing his team members blossom and reach their full potential brings him great joy and satisfaction. He recognizes that the success of the business is intricately tied to the growth and well-being of his team. By nurturing and supporting their development, he creates an environment that fosters personal and professional growth, ultimately benefiting the organization as a whole.
Exploring Digital Technologies
Chandrashekar identifies the significant role of digital technologies in the present and the future. He acknowledges that while GMMCO currently utilizes digital solutions as an enabler for its business, there is still much ground to cover in this realm. The company aims to explore and leverage digital advancements more extensively.
To achieve this, Chandrashekar emphasizes the need for automation and the implementation of Artificial Intelligence (AI) and Machine Learning (ML) technologies. By embracing automation, GMMCO can enhance operational efficiency and reduce costs. However, taking it a step further, the integration of AI and ML on top of the automation tools will enable the company to achieve even greater improvements. These advanced technologies can optimize processes, provide intelligent insights, and ultimately enhance customer service. He sees AI and ML as crucial elements in driving the future growth of the business, empowering GMMCO to meet evolving customer needs and stay competitive in the market.
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