Of the total power generated in India, around one fourth is either stolen or lost in transmission. In fact, according to the World Bank estimates, power theft reduces India’s GDP by around 1.5 per cent. Helping electric utilities reduce power theft is the Kolkata-based Safcon Seals with its security seals. With the Government planning to replace existing electro mechanical meters to new generation smart meters, Safcon Seals sees a huge opportunity for its innovative meter seals. In this interview, Rajesh Kumar Banka, Managing Director, Safcon Seals Pvt Ltd, highlights on the ills of power theft, importance of security seals for the country’s economy and solutions offered by Safcon.

 

How is Safcon Seals serving the electrical and electronics industry?

 

Safcon Seals Private Limited is an established leader in security seal industry. We are specialised manufacturers of a wide range of tamper evident security seals for all applications. Our expertise are in security seals for utility meters, truck, tankers, airlines, banks’ ATM & cash bags, railway wagons, Fiber drums, ballot boxes along with applications in many other industries. We pioneer innovative yet practical solutions for protecting revenue, preventing theft and adulteration.

 

We are innovator and pioneer manufacturers of tamper evident security seals to electric utilities - single phase, three phase, AMI, AMR, smart meters, meter boxes, transformers, etc to prevent power theft and save revenue losses. We introduced first time the highly reliable polycarbonate security seals for meters in 2001 to replace age old lead seals which were used for electric meter sealing. Our Metgrip Meter Security Seals were highly appreciated but hardly adopted due to the price difference. It was penny wise and pound foolish situation. More than 50 per cent was average power theft loss in India. Gradually people started using it and today all the specification of meter seals are derived from our Metgrip Meter Seals. In addition to electric utilities, we also offer security seals for other utilities like water meters, gas meters. Our energy meter security seals are especially designed and crafted on our years of experience and expertise in the field and are unique.

 

We also offer tamper evident security seals for electronic equipment, instruments and devices to use as manufacturer’s warranty seals.

 

How is the market for security seals? What is driving this market?

 

Our products and solutions, though applicable to various industries, still operates as a very niche market. The key driving factors for this market are the consumer’s need for simple yet effective solution, technically superior products, timely customer services and favorable pricing. We, at Safcon, believe and spread among our potential customers is “Poor Security is No Security”. Each security seal which leaves our factory is guaranteed for the performance. We never compromise on the quality and workmanship of our products. Once customers start using our security seal, they are our regular and permanent customers. Most of our customers are one or two decade old. Our customers’ confidence on us and our products is the real fuel for our growth.

 

What is the current status of electrical and electronics industry in India? What are the key challenges and opportunities before the industry?

 

The prospects of the electrical as well as the electronic industry look very bright. The growing customer base and the increased penetration in the consumer durables segment have provided enough scope for the growth of the Indian electrical and electronics sectors.  Initiatives such as ‘Digital India’ and ‘Smart City’ projects have raised the demand for Internet 

of Things (IoT) in the market, which in turn has had a domino effect on available opportunities in the electrical and electronics industry in India.

 

Key challenges the industry is facing are infrastructure, (which needs to be improved at the earliest), price-sensitivity (where quality is compromised) and a very pertinent issue of loss of revenue due to counterfeit, supply chain logistics and theft.

 

How will increase in electrification in general and in industries (like railways, automotive, etc) in particular aid growth of security seals market? What kind of new opportunities are you looking at in India?

 

Our tamper evident security seals are also key solutions for the supply chain logistics market. Increasing railway and roadways transportation services provides us with opportunity to further grow our business in India. Government has plans to replace existing electro mechanical meters to new generation smart meters, prepaid meters, AMI, AMR which gives a lot of opportunity for developing new innovation meter seals. There is an increased scope for better solutions and higher quality products which raises the acceptable standards in the market.

 

What are some of the emerging trends in the electrical and electronics industry? How do you intend to tap these trends?

 

A rise in automation and robotics technology adoption to improve productivity and reduce production costs is the way forward. Due to the nature of our product range and high level of customisation to protect it from being counterfeited, we do not focus on being fully machine dependent. We have got into semi-automation and are working towards more technology upgrade in our manufacturing processes to bring more effective solutions in the market.

 

India aims to make manufacturing a $1 trillion sector by 2025. How important will be the role of electrical and electronics industry in achieving this target?

 

Power is one of the most critical components of infrastructure for the economic growth and welfare of nations. Government is already working towards smart metering and pilot lot installations of smart meter already started in many states. The existence and development of adequate infrastructure is essential for sustained growth of the Indian economy. Indian’s electrical equipment industry makes the 8.1 percent of manufacturing sector is terms of value and 1.35 per cent of India’s GDP combine that with the electronics industry with the consumer durables and telecom and you will understand the depth of contribution we are looking at.

 

What are your growth plans for the company?

 

We are working on many new product developments and launching them in view of changed market scenario and customers’ specific needs. Our continuous research and development efforts regularly help us upgrade our existing products. Innovation, quality first and customer centric services are key factors for all our activities since the very beginning and for growth in the future. Our company’s tagline is “Proud of Our Past – Focus on the Future.

 

On the eve of Elecrama 2020, could you like to give any message to the industry?

 

In the ever increasing competitive market, ‘one should stick to quality first and understand the customer’s expectations and need before offering solutions’. We wish that every manufacturer grow and make contribution to Indian economy.