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Amit Singh is a Co-Founder and CEO at Advent Chembio Private Limited with more than 33 years’ experience in Fine Chemicals industry and having worked with Ranbaxy, Glaxo & RFCL in various functions such as Sales, Distribution, Logistics, Procurement, Production and Commercial. He is science graduate from Mumbai University and also the all India topper at the executive management program from IIT, Mumbai (2006-07 batch), he loves to explore new challenges and is a man of action. Here I am sharing an interview with Amit Sigh.
Can you tell me a little about yourself? I am a science graduate from Mumbai University and was the all-India topper at the executive management program from IIT, Mumbai (of 2006-07 batch). I have an experience of more than 3 decades in Fine Chemicals industry and worked with organizations like Ranbaxy, Glaxo & RFCL Limited (now a part of Avantor Performance Materials) in various functions such as Sales, Distribution, Logistics, Procurement, Contract manufacturing and Production etc. Being, a Co-Founder & Chief Executive Officer of ADVENT CHEMBIO PRIVATE LIMITED® I strive hard to make ADVENT reach the zenith in this segment. Till now, ADVENT has achieved a remarkable growth trajectory since its journey started in Jan’2013 and established itself as a respectable brand in the domestic market with many leading pharmaceutical companies as its customers and has global footprints with exports to Middle East, Africa, South East Asia & Europe etc. I love travelling to new locations, listening to music and dabble in the stock market.
What do/did you like most and least about your present/most recent position? Being part of a vibrant, energetic team, inculcating the spirit of team work through participative style of Management and empowering each member of the team to achieve their best are the ones I like the most. Due to my current responsibilities the frequency of meeting my esteemed customers has reduced; that is the least I like of my recent position.
What have been the main accomplishments of the Advent Chembio Pvt ltd during the last five years? In the last 5 Years we have reached from 120 Mn INR to 500 Mn INR with a CAGR of 37%. Employees on payroll increased from 10 to 50. Built our own state of the art FDA approved and cGMP compliant manufacturing facility for Pharmacopeial solvents. Awarded Great Place to Work certificate in 2020
What has been your biggest challenge in achieving company goals? Being a catalogue company, lot of working capital gets stuck for creating the inventory of materials. Also, being a relatively new entrant in this business segment the customers/channel partners expect more credit days to be provided. As we are growing very fast there is a need to implement robust automated system and processes to meet up with the scale of growth.
How do you build rapport with the management team? What role do others play in actualizing your strategies? We have a core team, and believe in participative type of management style. So, the core team discusses and debates on various issues faced by the organization (internal as well as external) and come with final solution. Since we have known each other for many years and worked together in our previous organization, it becomes easy to communicate among ourselves and agree on a common agenda.
Sir, what do you consider the most important contribution of your professional experiences have made to Advent Chembio Pvt ltd? What was your role? From the day of inception till date ADVENT has reached to 500 Mn INR (last FY Yr end) with a CAGR of 37%. In our journey from micro to small scale organization, from no systems in the initial days to various systems like ERP, ISO and also to have our own state of art FDA approved manufacturing facility etc. in a span of eight years, I have been involved in every stage of evolution of this organization.
Today we have more than 50 employees in direct payroll and we have been able to increase our sales and supply chain capability substantially.
As the CEO, I have mainly focused on overall growth of the company focusing on finance as well as man and material management.
Do you pick and choose, or do you take all the ideas and attempt to work with them? I am open to all innovative ideas that help to progress in our upward journey, and then based on the discussion with the team and considering the feasibility of the available options, the decision is taken.
What are your opinions on COVID-19 situation fine chemicals Industry? Does it give opportunity for Bio-Pharmaceutical industry to showcase its importance? COVID-19 has hit hard most of Industries / businesses. However, we could adapt ourselves faster to the evolving scenarios by bringing in changes in our product mix focusing mainly on the customers’ requirements especially in the industries/segments like pharmaceuticals, food processing, power sector, Health & Hygiene etc. which were active during this time. Yes, it does give opportunity for bio-pharmaceutical industry too.
What are the key objectives that you would like to achieve in the upcoming 2 years? The key objective I would like to see being fulfilled is a sales figures of 1150 Mn INR by end of FY-2023.