Maini Group eyes foray into services business

The Rs 450-crore Maini Group has ambitious plans to enter into the services sector around its existing businesses.  

In an interaction with Deccan Herald, Group Chairman Sandeep Kumar Maini said the aim is to build the services business around its core manufacturing competencies. “We have made a small group within the company to draw the road map to get into the services sector based on our current products. In any area of business, we can see services registering faster growth. We want to enter services in those areas where our group is strong,” he said.

Group companies Maini Materials Movement and Armis Maini are involved in material handling business and logistics. “Currently, we are into material handling, production, and selling. We can get into the business of renting it and leasing it as a service. In some cases, companies with core competencies in manufacturing do not want to put money into logistics and component production. We can deploy the machinery and produce the components for them. We understand machines. So we know how to do it as a service,” Sandeep Maini said.

He also identified the company’s core activity as precision engineering, material handling, and provision of logistics. “We are figuring out our domain expertise in manufacturing and design to create a services business around that,” he said.

The company is already running electric buggy services in Hampi and Lal Bagh. “When we started  this business, it was expected to be a failure. In Lal Bagh we are running it as a service with our own buggies and drivers. In Hampi, we provided training and the Tourism Department is running the buggies,” he said. The group already received queries from Bihar, Madhya Pradesh, and Gujarat to start the business.

Armes Maini, a joint venture with an Italian firm, is into storage and warehouse solutions. “We are ready to enter the warehouse services business in the country which is growing immensely. We are giving end-to-end solutions and products in this segment,” he said.

When asked about his brother Chetan Maini quitting as CEO of Mahindra Reva, Sandeep Maini said his role was for a two-year period. “He is still working on new technologies within the company,” the Maini Group chairman said. “He made the most of his dual role. Now they need a hardcore operational team to take it forward,” he said.

He said the family retains its shareholding in the company. “You might have seen the tweet of Anand Mahindra that he won’t let Chetan go. We would like to work with people who dream big about technology. Essentially, he will support Mahindra on technology. Mahindra is forward-looking and will invest in future technology,” he said.