DEVU TOOLS PVT. LTD.
Devaraya Manjunath Sheregar - Chairman & Managing Director of Devu
Tools Pvt. Ltd. – has emblazoned his firm’s name globally in sparkling letters
in the field of moulds and high precision tools...
In 1982, an ambitious youngster from a village in Udipi, a district in Karnataka, strode into the metropolis of Mumbai. Initiated as a trainee into a firm dealing in engineering tools, Devaraya Manjunath Sheregar lived and worked in Saki Naka, Mumbai, amassing experience and mastering the ropes of his trade. A decade later, Devaraya Sheregar, suitably buoyed with confidence and capital, opted to strike it out on his own. “I took a loan of Rs.1,25,000 from a credit society,” he reveals. “I also educated myself about mould designing in a period of two years, even as I was working. I started my own company in 1993 at Tilak Nagar, Saki Naka in suburban Mumbai.”
Fortunately, choosing a name for his firm wasn’t a mind-boggling task. “Since my pet name was Devu, my mother suggested that I name the company after me,” he says. After a year of successful operations, Devaraya Sheregar bagged a loan of Rs.10 lakhs from a co-operative bank, spurring Devu’s productivity and business further. Presently, the CMD of Devu Tools Pvt. Ltd. is grinning moonbeams even as his ISO 9001-2008 certified firm consolidates its tooling interests in Europe, Russia, Middle East, Asia, UK, and Africa, among other countries.
Employee to Entrepreneur
“I started Devu Tools in 1993 in a 200 sq. feet area, at the time I had two employees. Now, 22 years later, I have over 300 employees in my company. Devu Tools Pvt. Ltd. has all facilities in-house, right from basic designing, development, purchase, manufacturing, quality control and a trial facility too.Devu Tools started exports in 1994.”
Mould Is Gold!
“We are one of the world’s largest mould manufacturers, specialising in precision moulds for the demanding automotive industry. We also manufacture moulds for pipe fittings, caps and closures, packaging, consumer products and electrical conduits. At present, we have the capacity to manufacture 400 moulds with existing infrastructure, out of which we export approximately 20% to 25%. Presently, I have undertaken major expansion of approximately Rs. 100 crores at Atgaon on the Mumbai-Nasik Highway, increasing our manufacturing capacity.”
Ace Business Innovation
“There was a product for drip irrigation that was initially being imported from Europe. We designed it here and then started manufacturing it too. It was more economical and proved to be a success.”
“I’m a stickler for quality, at all costs.”