Achiever's Success Story
Gandhinagar-based High Security Registration Plates manufacturer spreading its footprints across India
To curb the rising cases of vehicle theft across the country, the Hon’ble Supreme Court of India, in 2011 made it mandatory for all vehicles to be sold with High Security Registration Plates (HSRPs). The decision opened up new opportunities for companies working in the automotive ancillary sector. One such company was FTA HSRP Solutions Pvt. Ltd. Based in Gandhinagar, the company was chosen by the Gujarat Government to supply and affix these registration plates to more than 1.25 crore vehicles across the State.
Incorporated in 2012, FTA HSRP Solutions soon carved a niche for itself from being a regional player in Gujarat to becoming the vendor of choice for most of the original equipment manufacturers (OEMs) and supplying to their dealer networks across the country. Today, it caters to almost 25% of all new vehicles across categories that are sold in India. It is also the preferred supplier to most Japanese, American and European automobile manufacturers in India. Now, it has over 150 centers in 22 States.
CEO Saral Verma is ably supported by Anurag Chowdhury (Chief Operating Officer) and a team of highly qualified and experienced professionals with deep expertise in each of their domains.
“Over a period, people realized the importance of the High Security Registration Plates, especially in the case of stolen vehicles. The old number plates are quite easy to tamper with and can be taken out or switched easily. A stolen vehicle always ends up with a replaced registration plate, making it difficult for the authorities to track it down, but the HSRPs come with a non-removable snap-on lock and are quite difficult to replace. The HSRPs are also beneficial because essential details of a car including engine number and chassis number are stored in a centralized database. The stored data along with the 10-digit PIN becomes crucial in identifying a stolen car. The HSRPs also enable the Transport authorities to keep a close watch on traffic violations and vehicular safety and security through a network of sophisticated Number Plate recognition cameras deployed across the country,” says Verma.
Revered across the industry
FTA HSRP Solutions has obtained ISO 9001:2015 certificate from TUV India Private Limited confirming that management systems are in line with standards for manufacture, supply, distribution and affixation of HSRPs. It is rated by a leading Global Business credit rating provider Dun and Bradstreet, with a fair rating of 4A3, which is a testament of the organic growth and financial stability achieved by the organization over the years. FTA has also been granted a Type Approval Certificate (TAC) by the Central Road Research Institute (CSIR), New Delhi and was recently accorded a Gujarat Brand Leadership Award for SMEs by a leading marketing organization, CMO Asia.
Bracing up for competition
Prior to the regulation, there were a handful of players in the business. After the regulation, some of the existing vendors of automotive OEMs forayed into the HSRP manufacturing. Hence, competitors have grown in numbers over the years. So pricing becomes a major part of being competitive and FTA maintains a hawkish eye on cost control across all functions. In addition to pricing, it adheres to the highest standards of product and services without compromising on the quality.
Achievements and milestones so far
“Our geographical footprint has expanded to 22 States across India, and we’re on course to clock over Rs 100 crore of topline for the 3rd year running; despite the turbulent times the industry has witnessed over the last one-and-a-half-years. We are now looking at foraying into allied businesses in the transportation sector. Since we have our presence across the country, we are moving ahead with a pan-India mindset. Working in the transportation space has emerged as a core competency of the organization since its inception. We are bullish about its allied sectors since they are aligned with the vision that has been set forth by the government for the decade ahead,” says Verma.