There is a saying by Mark Twain, “Keep away from people who try to belittle your ambitions, small people always do that, but the really great make you feel that you too can become great”! And these four partners have turned the saying true. JHR Overseas, founded by YP Rishi, Jagpal Singh, Rakesh Jindal, and Harsh Dhaka, is a business unit which deals in manufacturing of diverse light engineering items, including automotive parts, truck/trailer body parts, sheet metal stamping parts, OHE fittings and many more.
The unit was formed on April 13, 2013, with an ambition to utilise each other's skills and expertise in the best way possible which is now generating a turnover worth Rs 8 crore.
In an interview with SMBStory one of the co-founders of JHR Overseas YP Rishi shared the journey and achievements of this business which took its shape over a cup of tea!
JHR Overseas is the winner of Brands of India Awards, 2019.
On asking how did JHR Overseas come into being, YP Rishi said, “one day we were just sitting over a cup of tea discussing professional problems in the companies we were employed in. All the founder members were in service holding senior positions but we often talked of doing something of our own. A point arose that even if we do our best and approach the owners or the senior management with the best solutions, it cannot be said that he/they would implement or go with them. We then came up saying why not join hands and do something where we can make full use of our knowledge and experience and also be free to take and implement our own decisions.”
“The very next day, the exercise started to form a Partnership Firm and thus JHR Overseas came into being with a meagre capital of just Rs 13 lakh. There was no looking back and we are proud to rise to the present position.”
Leaving their reputed jobs and starting something from scratch was risky but all the four partners had full faith in their skills and expertise. They started their work in a hired building measuring 100 square yards to manufacture light engineering items. All the partners had one aim and that was to satisfy the clients in any manner possible and lead in their business sector.
After six years of perseverance and hard work, JHR Overseas now owns three units, largest one set up in 3000 square yards yards and is equipped with state-of-the-art machinery. Today, almost 90 percent of their production is exported to countries like Germany, the US and New Zealand.
The company also supplies to Railways which is a great initiative and has a good scope. On asking how do they differentiate from their competitors, YP Rishi says, “The opportunities in the automotive and real estate sectors, in which we are mainly engaged, seems endless. With lesser overheads and cost-cutting, we always remain competitive.”
Their policy of fair business is great. In addition, they try to keep pace with time and remain receptive to new ideas and inventions.
With our well-knit team, sincere approach, and policies of doing business, there is every reason for our sustaining the business and take it to new heights.
When asked about their supplier management, cash flow management, and capital management, the co-founder had a different perspective. According to him, timely payment to suppliers is the key to their coming forward to help at the time of need and timely achieving good results will make the banks and other financial institutions to run behind you for keeping your account with them.
“We believe in re-ploughing our profits, a major portion of which is converted into working capital. We avoid raising loans in order to save interest and remain competitive. However, we have taken a CC limit from SBI for Rs 1 crore and they are prepared to raise it as and when required," he says.
JHR Overseas aspire to grow to the extent of being a model group of industries setting an example for others to follow the same path and contribute to the progress of the motherland.
YourStory, in association with the Ministry of MSME, Government of India, held the Brands of India 2019 ceremony in the month of February and JHR Overseas was one of the 41 home-grown MSME brands that was awarded.