From Local To Global: LRT’s 50-Year Milestone Of Growth!

In most of the countries where LRT operates, the company holds either number one or number two market position, informs Jagan Mohan Balaji in an exclusive chat with Textile Insights Associate Editor, Henry Dsouza.

What are the major milestones LRT has achieved in its 50-year journey, and how has the company diversified its business over the years?
LRT, incorporated in 1974, is proudly celebrating its golden jubilee this year. Over the past five decades, we have achieved several key milestones that have shaped our growth and diversified our business. In 1983, we established our engineering division, which focuses on providing machining solutions to various industries worldwide. By 1992, we expanded into manufacturing CNC flame cutting machines, later adding plasma and laser cutting technologies to cater to cutting MS and SS sheets.

In 2007, we took a major step by setting up our foundry division for producing castings. To enhance this offering, we introduced a surface coating division, allowing us to deliver surface-coated machined castings to sectors such as oil and gas and textiles across the globe. That same year, we also entered into a collaboration with Caipo for manufacture of slub and core yarn attachments. Our journey into environmental solutions began in 2011 when we ventured into the water treatment space, leading to the formation of Lakshmi Energy Environment Designs Ltd as a separate entity in 2015. This strategic  move allowed us to focus more intensively on sustainable solutions.

How has LRT maintained its position as a global market leader in the industry?
LRT began expanding its exports significantly in 1999, having previously focused primarily on the domestic market due to restrictions from earlier collaborations and partnerships. Over the past 25 years, we’ve successfully established a strong presence in every market where textile spinning mills operate, making us a dominant player. Today, we export to more than 45 countries, with our travellers used in approximately 80 million spindles across 4,500 spinning mills worldwide.

In most of the countries where we operate, we hold either number one or number two market position. To ensure prompt service, we have set up multiple stock points in various regions, including 18 sub-agents with stock points in China alone. This infrastructure allows us to deliver products to our customers globally within 48 hours—a key strength of our business.

By consistently focusing on market development and customer needs over the last 25 years, we have built a major global presence. In terms of production quantity, we are nearly three times larger than our closest competitor on a global scale.

How does LRT ensure its products stay at the forefront of industry standards and meet evolving customer expectations?
At LRT, we strive to stay ahead of the industry trends by anticipating changes well in advance. For example, 20 years ago, we foresaw the rise of compact spinning and prepared specialized travellers for compact systems before they even entered the market. This forward-thinking approach allows us to provide tailored solutions, rather than providing one-size-fits-all product.

Today, we are recognized as compact spinning specialists, offering numerous profiles specifically designed for different compacting systems, spindle speeds and materials. Similarly, we stay ahead in other areas, such as slub and core yarn manufacturing, and constantly monitor the introduction of new materials in the global market. Often, these materials come with unique compositions that are trade secrets, such as blends of polyester, viscose or micro modal, and are marketed under various names.

By continuously listening to our customers, we are able to anticipate their needs and develop products even before the demand arises. Once a product is required, we already have it ready, and we ensure continuous upgrades to meet evolving expectations. This proactive approach is how we maintain our leadership in the industry.

What measures does LRT take to ensure excellent customer service and satisfaction?
At LRT, ensuring product consistency and timely delivery are the cornerstones of our customer service strategy, especially since ring travellers are consumable items. One key aspect is maintaining highest quality standards. We never compromise on raw materials, even though local options are available at a fraction of the cost. Instead, we import the finest materials from around the world, ensuring superior consistency both within each box and across different batches.

In addition to quality, fast delivery is crucial. Since our products are consumables, customers need them immediately, and delayed deliveries simply aren’t acceptable. We pride ourselves on our swift delivery system, which is one of our biggest strengths. We also differentiate ourselves by offering total traveller solutions, not just ring travellers. Our customer-centric approach focuses on improving the overall productivity and quality of yarn in spinning mills.

Service is another critical area where we excel. We don’t have traditional sales people—our team consists of service engineers and technologists who offer technical expertise to customers. Our agents handle sales and are thoroughly trained to provide technical support. This approach ensures that we’re not just selling products, but providing long-term solutions to our customers.

With a presence in over 45 countries, our service is designed to be quick and responsive. For instance, in Indonesia, we have representatives in three locations, ensuring that a service professional can be at a spinning mill within 24 hours to address any issues. Offering such extensive service for a small, low-cost product is something only a company with large volumes can do, and we believe this level of service is essential to staying ahead of the competition.

>How does LRT support the well-being of its employees and engage with the local communities where it operates?
People have always been our greatest strength at LRT. Many of our employees have been with us for over 10, 15, 20, and even 30 to 35 years. Personally, I have been with the company for 25 years. This longevity speaks volumes about our company’s culture, which fosters growth both for the individual and the organization. Employees who join us tend to stay because they find the environment conducive to their personal and professional development, creating continuity within the team.

The work culture at LRT is one of passion and dedication, which has been instrumental in our success. Our management promotes quick decision-making, thanks to a horizontal organizational structure that allows for swift action whenever needed. This agility in decision-making has been one of our key strengths.

As for community engagement, LRT’s involvement goes beyond its immediate business. We believe in creating a positive impact on the communities where we operate. While the company’s internal culture nurtures employee well-being and growth, our external focus remains on supporting local initiatives and contributing to the overall development of the areas we are part of.

How has your personal journey at LRT evolved over the past 25 years, and what role did the management play in supporting your growth and initiatives?
When I joined LRT 25 years ago, exports were almost non-existent. One of the significant challenges I faced was building our presence in international markets. At that time, products from India were often viewed with skepticism, especially in markets like Turkey, where Indian goods were seen as coming from a third-world country. Establishing the right team and marketing strategies was critical to overcoming this hurdle, and today, LRT is a formidable player, often ranked number one in these markets.

During my time with LRT, I was involved in introducing a range of products, such as slub and core yarns, through a joint venture, and I contributed to the development of application tools that are widely used today. Another significant milestone for me was the launch of the water treatment division, later spun off as separate company –  Lakshmi Energy and Environment Designs (LEED), which I consider “my baby.” Starting this division was a major achievement, and it continues to be an area of focus and growth for us.

The support I received from the management was instrumental in these successes. I’m fortunate to work with a management team that is open to new ideas and willing to try out different approaches. Whether it was starting LEED or shifting our focus beyond textiles, the management gave me the freedom to experiment, learn and grow. Their encouragement and willingness to embrace innovation have been key to both my personal achievements and the company’s overall growth trajectory.

What initiatives does LRT undertake to enhance the skills and knowledge of its production line staff through training and development programmes?
At LRT, skill development and knowledge enhancement are ongoing efforts, consistently managed by our human resources. We ensure that all our production line staff are regularly briefed on where our products are used and the challenges involved in their application. For instance, we take our workers to spinning mills to provide firsthand experience of how the products they manufacture are being used.

It’s crucial for them to understand their role in maintaining product consistency. Even a single traveller that doesn’t align with the others can result in significant losses. That’s why we emphasize the importance of their work and how it impacts the end-user.

Personally, I visit the team every two to three months to engage with all workers. This direct communication from the leadership is essential to help them grasp the significance of their tasks and how they contribute to the industry.

In addition to these efforts, we provide continuous job-related training, focusing on both skilling and re-skilling. This constant process ensures our staff remain updated and proficient in their roles, and our HR team plays a key role in facilitating these programmes on a regular basis.

What are LRT’s future plans, particularly in terms of growth and sustainability?
Our focus moving forward is to continuously enhance the performance of our products by optimizing and improving our processes. Customers today are seeking products with an even longer lifespan, and we are committed to meeting those expectations. This is an ongoing effort to increase the efficiency and durability of our offerings.

As for sustainability, LRT is proud to be a carbon-neutral company in terms of Ring Traveller production. Additionally, our products are designed with a low coefficient of friction between the ring and traveller, which reduces energy consumption for our customers. This helps them lower their energy costs, making our products both efficient and environmentally friendly. We are constantly working on developing new coatings and materials to offer sustainable solutions that align with the evolving needs of the industry.