Seals of Quality

Novelty Impex has been manufacturing sealing products for three decades. With sound technical knowledge and vast production experience, the company has carved out a niche for itself in domestic and overseas markets with its brand of ‘NOV’.

Rounded in 1992, Novelty Impex has been manufacturing sealing products for over 30 years as a family-owned business, with ownership and management consisting of second- and third-generation family members. With a current turnover of `1.45 crore, the target is to reach `5 crore by the next fiscal year.

The highly innovative and technologically focused company is committed to providing its customers with world-class sealing solutions. It not only designs and delivers products, but its leading engineers and industry specialists also work directly with OEM and maintenance-and-repair customers. Together, they improve product designs and materials that substantially increase reliability and outperform stock products.

Tracing the journey

Aditya Singhal, CEO, Novelty Impex, describes the company’s journey, “Indian hydraulic and pneumatic industries were looking for quality sealing products to go into the cylinders as import substitutes with less technology available in India. Imported products were expensive and took a long time to be delivered here. There was a monopoly of foreign companies and no policies such as ‘Make in India’. We faced many such hurdles and made Seals from 4mm to 1000mm with trademarks NOV, NOVFLON, NOVIE.”

Based on a solid technical foundation and extensive production experience, the company has developed its brand of ‘NOV’, which has a good track record in domestic and international markets. Singhal says, “R&D is one of the most crucial driving forces of our success. Jodhpur is an excellent geographical site and has transport advantages that provide strong support for the development of Novelty Impex.”

Wide range of offerings

The company is a global manufacturer and exporter of Fluid Power Hydraulic and Pneumatic Seals, Wiper Seals, O-Rings, Rod and Piston Seals, Chevron Packing Seals, Das Compact Seals, Guide Strips, Bands and Spiral, Turcite Sheets for slideways, Bearings and other custom high-performance rubber and plastic parts made from a wide range of materials such as Polyurethane (PU), Polytetrafluoroethylene (PTFE), Nitrile Rubber (NBR) and Fluoro-Elastomers (FKM), FRP.

To meet the market’s demand for special products, the company has taken the initiative to manufacture Bearing/Guide Strips, Spirals and Wear Rings, and Springs (Special Grade) for Energized Seals. Singhal reveals, “Novelty Impex is serving all major fields from car jacks to airplane seals with Heavy Earthmoving and Mining machines, Hydraulic & Pneumatic Cylinder manufacturers, Hydraulic Press manufacturers, Ceramic industry, Defence sector and many more.”

Operating on a global scale, with exports to more than 30 countries, the company has OEM customers and business partners worldwide, including India. Action Construction Equipments Ltd, Schwing Stetter, and others are its significant clients. “We have a business partner in China, the toughest market for any Indian company to serve,” he informs.

Overcoming obstacles

COVID-19 and its subsequent lockdowns posed a slew of challenges for everyone. With seemingly insurmountable economic and social difficulties, the company realized the most difficult challenge was the responsibility of caring for its people. Singhal adds, “Many tested positive with COVID had to be provided with the necessary help. When the units opened from May 14, 2020, there was the challenge of making everybody adhere to the pandemic protocols. The Rajasthan Government opened the industries with a pass system for industry owners and staff. We are very thankful to our customers for making timely payments to us in this difficult time.”

State-wise restrictions took a toll on the business, he shares. “Export orders were large, which created a big gap to be filled.” Aside from the financial challenges that an SME faces, the other major challenge was attracting and retaining talented people. “Good people with talent find opportunities in MNCs or bigger industries. SMEs cannot match the packages offered by MNCs, so we find it very difficult to get the right people. Indian Cylinder companies do not want to purchase seals from the SME sector due to large MNCs’ branding and faith in them,” he points out. “To overcome this issue, we have set up our in-house testing lab and test our products to ensure customer satisfaction.”

Research and development in Material Science and Design Development is one of the most important driving forces behind NOV’s growth and success.

Getting ahead

To achieve the goal of making India self-reliant for its ‘Aatmanirbhar Bharat’ scheme, the Government of India is looking to MSMEs to help turn the coronavirus crisis into an opportunity. When asked if India has the potential to become a manufacturing powerhouse in the near future, Singhal staunchly believes that the country does. However, he suggests that those who invest and take risks in establishing new businesses or expanding existing ones should be supported by prioritizing their needs.

Various ministries and departments of the Government of India have been implementing schemes aimed at the MSME sector. New initiatives of the ministry and a market-driven economy result in an expansion of product portfolios, assisting 45 lakh Indian MSMEs. The Union Cabinet has approved funding of up to `3 lakh crore to MSMEs as part of the `20 lakh crore economic package announced earlier by Finance Minister Nirmala Sitharaman, with National Credit Guarantee Trustee Company Limited (NCGTC) providing 100 percent guarantee coverage. Elated, he says, “It is a wonderful step to help MSMEs with liquidity under NCGTC, started with the Modi Government, because MSMEs’ major problems are financial issues and high rates of interest.”

Research and development in Material Science and Design Development is one of the most important driving forces behind NOV’s growth and success.