Ideology of Diversification:
The key to success is diversification. Companies that focus solely on one industry or market segment frequently fall behind or go out of business in today’s fast-paced world.
In the private sector, where there is fierce competition, this is particularly true. A company must therefore grow and diversify across all industry sectors.
Sujana Group of Companies adopted the strategy of Diversification:
The Sujana Group of Companies used the same strategy when they were just a tiny domestic fan and home appliance maker. The company was established at a time when the Indian economy was still in its infancy by self-taught businessman YS Chowdary.
The Rajiv Gandhi administration attempted to pursue economic changes in a laissez-faire manner at a time when liberalisation was still in its infancy.
YS Chowdary, being the visionary that he was, saw an opportunity where most others did not. He was aware that as the market expanded, fresh opportunities for expansion would emerge. The objective was to get Sujana Group ready for this change.
In the 1980s, India was only starting on its path toward economic reform. As a result, the need for diverse resources increased.
YS Chowdary had been waiting for this. The Sujana Group of Companies had established itself in the steel sector, first with steel rolling activities and then with galvanised steel towers.
YS Chowdary’s Sujana Group
The Organization is categorised as a secondary steel producer it established itself as one of the major medium-sized players. Sujana TMT, the company’s trademark, has established a standard in the sector. Also available are ready-made steel such as Structural and Smart Steel, Sujana Plus, Cold Twisted Deformed (CTD) bars, MS Angels, and MS Bars Heavy Structural steel, as well as premium steel for large-scale structures.
Sujana Group’s next big steps towards success
Infrastructure was the logical step after that. Buildings and facilities were required by a developing India to support the development. Sujana Group’s next goal would be to deal with infrastructure-related obstacles. By chance, 10 of YS Chowdary’s classmates decided to assist him in this endeavour, and the new enterprise was a complete success.
At the turn of the century, the global economy underwent a paradigm change that has resulted in numerous difficulties. Important challenges like power and the environment have gained prominence and forced firms to develop novel yet efficient solutions. Sujana Group has adapted to this new normal and entered a number of additional industries, such as healthcare, global trade, and hybrid energy systems.
Sujana Group of Companies was founded three decades ago. Since then, it has only grown stronger, significantly boosting both the economy and the development of the country. The company’s history demonstrates the importance of having a wide portfolio for commercial success. It also emphasises how crucial private players are to the bigger picture.
Mr. Chowdary’s leadership and vision made it easy to uniquely position the company to contribute significantly to India’s economy. YS Chowdary chose to take on a new challenge after nearly thirty years in charge. In 2004, he gave up his executive positions with all of the Sujana Group firms and turned the company’s management over to an impartial board of directors. Additionally, he gave up his directorship and all financial stake in the Sujana Group of Companies in 2014.
Free from the constraints of the corporate world, Mr. Chowdary set out on a path that fascinated him since childhood: public service. He finally realized his dream in 2010.