Affordable Robotics and Automation has paved its way from being a private limited entity to standing among the 473 companies listed on the Bombay Stock Exchange. Unlocking the gates to success, the journey reflects not just the company’s evolution but also clarifies the surprisingly simple process that SMEs can embark on to join the league of publicly traded entities.
Affordable Robotics and Automation have emerged as one of the examples for innovation and growth. Founded in 2005 by Milind Padole, the Managing Director, the company has evolved from a private entity to a public limited, marking its presence in fixed robotics, automated parking for real estate, and recently moving into the realm of mobile robotics.
The company started its journey as a private firm in 2005, navigating through the complexities of the manufacturing sector. By 2010, it transformed into a private limited company, and in a significant move in 2018, the company went public. This transition allowed the company to experience various seasons of industry growth, remaining tough through kick-starting, debt funding, and ultimately securing public funding, catapulting its trajectory.
Initially rooted in fixed robotics catering to the automotive industry, the company diversified its offerings in 2012 with the introduction of automated parking solutions as per the client’s requirements. The latest attraction is mobile robotics, a subsidiary launched two years ago. This strategic expansion positions Affordable Robotics and Automation as one of the complete players in the robotics domain.
Since its listing in 2018, the company’s stock has witnessed a meteoric rise, reflecting investor confidence and market demand for its innovative solutions. In an exclusive conversation with Machine Maker, Mr Padole expressed his satisfaction with the stock’s performance, acknowledging the pressure to deliver and exceed expectations.
The access to funds post-listing has played an essential role in accelerating the company’s growth. He also highlighted their concentrated efforts on the US and Canadian markets.
With a firm belief in accelerated growth, Mr Padole projected the subsidiary’s rapid expansion while predicting an impressive 40% to 50% Compound Annual Growth Rate (CAGR) for the parent company. This bold statement underlines the company’s ambitious plans and its dedication to making a significant impact on the North American market.
In the Indian market, Affordable Robotics and Automation face the challenging difference of innovation appreciation and cutthroat negotiations. Mr Padole, offered insights into the market, stating, “Negotiation happens”. In a candid acknowledgement of competing with established giants from Germany, Italy, and China, he highlighted the deep pockets and design legacies that span decades.
Despite being in operation for 15 to 17 years, Affordable Robotics and Automation has found favour with Indian companies, showcasing a willingness to support innovation. Mr Padole stressed the crucial role of competitiveness, stating, “The only way to get a chance in a competitive market is the price. So, we have to be very competitive, which we are.”
This balance between innovation, pricing, and negotiations underscores the company’s journey in a market that demands both flexibility and adaptability.
The company’s association with prominent Original Equipment Manufacturers (OEMs) such as Volvo and Mahindra and many more grandees has been influential in establishing its credibility. These collaborations serve as evidence of the quality and efficiency of the company’s automated solutions. The support from esteemed investors like Vijay Kedia further strengthens the foundation of the company.
The company has felt the positive effects of the Make in India initiative, particularly in gaining drag from the government and public sectors. With a focus on reducing imports, Affordable Robotics and Automation has found increased opportunities within the domestic market. The initiative aligns with the company’s commitment to manufacturing excellence within the country.
Looking ahead, Mr Padole shared the company’s ambitious plans, The goal is to list on the Nasdaq within the next five years, a monument to the company’s global aspirations and commitment to continuous growth.
The success story of Affordable Robotics and Automation serves as an inspiration for other Small and Medium Enterprises (SMEs) looking at a leap into the stock exchange. The journey from private to public limited not only accelerated growth but also provided the company with a platform to showcase its potential on a global stage.
Affordable Robotics and Automation reflects the significance of the power of innovation, strategic diversification, and the transformative impact of listing on the stock exchange. As SMEs witness this successful adventure, they are encouraged to consider the possibilities that await them in the domain of public listings, unlocking new avenues for growth and recognition.