A perfect example of ‘if there is a will there is a way ‘ that Shree Forgings grew up on

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Shree Forgings was founded by Mr. Divakar in 2005 with a loan of 25 lakhs, a small investment, but it was enough to get the ball rolling. Shree Forgings is a leading manufacturer of Special Industrial Fasteners. Divakar H.S is a mechanical engineer and he had a lot of work experience in the same industry before he decided to take the leap and start his own business. Initially, things were slow for Shree Forgings, as is common for most startups. But in 2007, sales increased to 50 lakhs, and things started to look up. Over the next few years, the company steadily grew, and by 2011, Shree Forgings had a turnover of 1 crore. Today, they earn 2 crores turnover per annum.

However, like many other businesses, Shree Forgings faced a significant setback due to the COVID pandemic. Their earnings dropped to 1.5 crores, but they were able to recover and are currently crossed 2 crores turnover again.

Shree Forgings specializes in the manufacture of Special Industrial Fasteners, supplying to tier 2 and tier 3 automobile manufacturers. They produce ferrous and nonferrous fasteners, with a focus on customized ferrous fasteners that are specially tailored to their customers' needs. The company receives regular orders with monthly service, indicating the trust and confidence that their customers have in them. They have regular orders with regular monthly service, and they take one-time orders as well.

Shree Forgings are fortunate not to have any stiff competition. Divakar says that their specialization and size make it easier for them to take smaller orders, whereas bigger manufacturers can't.

One of the biggest challenges for Shree Forgings is procuring materials. Over the past 1.5 years, raw material prices have increased by more than 30%. However, workforce and competition are not a problem for Shree Forgings. There are also no risks related to power failure as they don't work with plastic.

Shree Forgings has three automated machines that can make fasteners with diameters varying from 5mm to 16mm and lengths of up to 150mm. While the machines are completely automated, employees are needed for inspection and packaging.

The process is simple, the material is set into the machine in the form of coils, and it takes care of everything. The employees need to do a petrol inspection in between. Doing this offers consistent results.

At present, Shree Forgings does not have a facility for heat treatment or plating, and they do not engage in export. However, the company's growth trajectory and reputation in the industry suggest that it will soon expand its operations and offer new services.

Divakar plans to introduce more machines to increase production. Shree Forgings are already some of the biggest manufacturers of specialized fasteners and hope to be the best in the business.

Divakar is a family-oriented person. Divakar had humble beginnings as he went to a small school in a village. Divakar's father was a landlord. He also had a lot of plantations, along with some home industries as the money from farming was not enough to feed him and his 5 siblings.

Now, He has a loving wife who is also a yoga teacher, and two amazing kids, one of whom is a daughter doing her master's in engineering and will finish by December.

Divakar has some advice for budding entrepreneurs. He says it is hard, and people need to be patient while continuing to put in the effort. The start is the hardest because finding clients and customers is not easy. He also mentions how it's different from working at another company because that is safer. Most graduates tend to join and work for others for safety, but to become an entrepreneur, it is much harder and riskier.

Divakar had experience working in the field for 15 years, which helped him learn and know about the industry. He worked under others to gain practical knowledge and experience. He adds that after graduation, you will have only theoretical knowledge which is just 30-40% requirement for industries. But you need practical knowledge, and for Small and medium-sized enterprises (SMEs), there are a lot of things like finance, taxation, labor, power, and so many other things. So the basic minimum knowledge you should have to start in the engineering industry."

Divakar thanks his previous employer the most as he helped him discover this journey. He started as a production supervisor and was a unit head when he left the job.  Divakar works at least 8 to 10 hours a day.  So, becoming an entrepreneur is hard, you need to struggle.  Divakar says starting a business is 80% hard work and 20% luck.

Shree Forgings' success is a testament to the founder's expertise in mechanical engineering and their commitment to quality and customer satisfaction. Today, the company employs six people and has become a reliable supplier of high-quality industrial fasteners to tier 2 and tier 3 automobile manufacturers.

Overall, the story of Shree Forgings is an inspiring example of a small business that started with humble beginnings and grew through hard work and dedication to become a successful enterprise.