Lucky Group: Creating fortune through foresight

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“Every thing we do is aimed at delivering quality products/services to our customers. Perhaps this is the biggest factor that has propelled us toward the path of consistent growth,’ says Satish Kumar More, Chairman, Lucky Group.

Commenced way back in 1985, the Group has today established itself as a leading business conglomerate in the country.

It is diversified into a range of areas like manufacturing, trading, service finance and hydropower. Ganapati Vanaspati Pvt Ltd, Lumbini Vidyut Udyog Pvt Ltd, Nuplast Industries Pvt Ltd, Shivam Cement. Hongshi Shivam Cement are manufacturing units.  Similarly,  Lucky Nepal Pvt Limited , Tyre  House Private Limited, Universal Trading Center, Universal Electrocom, Teletalk Pvt Ltd and Telenet Pvt Ltd are the trading units of the group. Under service, Asia Meditech Solutions Pvt Ltd, Star Asia Insurance Brokers Pvt Ltd , Teledirect, and the Realtors and Sparks Retail are operating.

Under finance, Bank of Asia Nepal Limited, Nepal Life Insurance Company, Prudential Insurance Company Limited, Asian Life Insurance Company and Mahalakshmi Finance Limited are being run.

Satish Kumar More, Chairman, Lucky Group

‘Since our beginning, we have been guided by our core business philosophy of adding values to the lives of customers. All of the companies under the group are doing fairly well, thus helping the group as a whole to gain traction in the Nepali market. ‘Every year, we are growing by an encouraging 20 to 25 percent,” he reveals.  And such growth is attributed to augmentation in the business of volume of the subsidiaries operating under the group. For instance, the annual turnover of Shivam Cement in 2017/18 increased by Rs 2.5 billion to reach Rs 10 billion compared to 2016/17. Similarly,  the total business volume of Ganapati   Vanaspati Pvt Ltd surged to Rs 4 billion in 2017/18, up by 1 billion  compared to 2016/17.

Lucky Group seems to be committed to the upgrading of business technology to boost operational efficiency and productivity. For example, the production capacity of Shivam Cement has been increased from 750 tonnes to 3,000 tonnes per day through technological upgrade.

According to More, one cannot only greatly increase business productivity but also reduce operational costs or even losses by investing in new technology. “ In Ganapati Vanaspati, we have minimized losses during the process of oil refinement by adopting new technological equipment. Similarly, we are installing new CPVC and PVC machines for capacity enhancement.”

Lucky Group is adopting the business strategies like backward integration and forward integration for improved efficiency and competitiveness. For instance, Ganapati Vanaspati is producing pet bottles, hdpe jars and even corrugated paper packaging along with sodium silicate-a raw material for soap industries.

According to him, his business entity also tends to put premium on qualified and quality human resources, “More than anything, the success of any organization is determined by the level of skills and dedication of its workforce. As such, we have always adopt a merit-based approach while recruiting and mobilizing the human resources.

As far as its future plan is concerned, Lucky Group looks to invest more into hydropower sector. There is no doubt that hydropower holds immense potentials to help turnaround the country’s socio-economic development. Leveraging this sector to the hilt is simply the need of the hour. Realizing this fact, we are planning to make more strategic investment into developing hydropower projects,” justifies More. “In fact, we have a vision to develop projects with a total capacity of 1000 MW by the end of 2030.” On the other side, Lucky Group also seems to be serious towards the notion of Corporate Social Responsibility (CSR). “Our factories and trade houses are providing employment to the local residents with a broad aim to develop the local community. Similarly, we not only derive the primary source of raw materials from the local market but also educate the local people on ways to improve productivity,” he shares.

The group has also been actively engaged in supporting the relief and rehabilitation works during the times of national calamities. It is also involved in organizing health camps, distributing ambulences and supporting the cancer patients of poor communities.   According to More, Lucky Group believes not only in creating economic capital but also social capital so that it can genuinely contribute to the socio-economic well-being of the nation.