Offsets are a growth pivot for Maini

Maini Global Aerospace (MGA) is flying on the wings of component manufacturing prowess to reach greater heights of full-fledged design-led product manufacturing in the aerospace and defence sector with solid in-house technological competencies.
Maini Group, the holding company of MGA, started off its journey as an automobile component supplier. “We have decades of experience in precision engineering and when our auto component manufacturing faced the heat of the slowdown in 2004, we got into the aerospace sector by supplying precision-machined components,” says Sandeep Kumar Maini, chairman of the Rs 450-crore Maini Group.

Interacting with Deccan Herald, Maini Global Aerospace CEO Naresh Palta said the company has established its footprint as a tier-1 aerospace contractor across four verticals. “We are solid in aircraft structures, power plant components and modules, mechanical accessories, and airport and aircraft ground support equipment.” he said.
When asked about the importance of Aero India 2015, Sandeep Maini said the company is scouting for solid partners in key technology areas.  “We are looking at technologies which will enhance our product supply capability in core areas. MGA wants technology partners in verticals like aerostructures, aircraft hydraulics, and mechanical verticals, besides engine component manufacturing,” he said.

Precision engineering now contributes 60 to 65 per cent of the group’s turnover. “Aerospace as of now contributes Rs 42 to Rs 50 crore a year for our group. After three years down the line aerospace/defence contribution will keep increasing. As per our assessment it will be above Rs 120 crore within three years. Growth in this segment will be more than double in the current year. We will progressively invest Rs 50 to 75 crore in order to achieve this growth,” he said.

The company finds lots of grey areas in the offsets clause and is trying to understand them. Palta said offsets start when there is a Results-Framework Document (RFD).

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