Joining the family business as a 22-year-old, Vamsi Gaddam has taken Hyderabad-based Visaka Industries Ltd. to new heights, diversifying into eco-friendly products, including a revolutionary solar roof-panel, and taking its annual turnover to Rs 1,143 crore in 2020-21.
He has also launched his own electric bike startup, Atumobile Private Limited, which is close to touching a turnover of Rs 6 crore in its first year.
|Vamsi Gaddam, JMD, Visaka Industries joined the family business at the age of 22 (Photos: Special Arrangement)|
Vamsi, now 32 years old, started his career at Visaka Industries in 2011 as a management trainee after his graduation in science from Purdue University, USA, in 2010.
After two years, he was promoted as a business strategist. He was then elevated in 2017 as joint managing director to spearhead the organisation.
In 2018, Vamsi launched ‘Atum’ – named after an Egyptian Sun God – a product that is both a roof and a solar panel.
Atum generates electricity and is a completely integrated, seamless solar roof made with poly or mono-crystalline solar cells and cement boards.
“It is a highly durable roofing material making it the world’s first solar panel which can be directly used as a roof. It’s been patented in India, South Africa and the USA, with patents pending in China and Europe,” says Vamsi.
“It provides a sleek and simpler integrated solar roofing system that increases energy generation by 20%. Though it is thinner than a Macbook, it can bear loads up to 300 kg per sq ft.”
With their target customers being warehouses, hospitals and other industries, Atum is closing in on Rs 20 crore sales during FY 2021-22, which is more than a 2x increase from the previous year’s sales of Rs 7 crore.
|Atum solar panels can be directly used as a roof|
“We have deployed 5 lakh sq ft across the country, and have projects in Dubai, South Africa, Kenya and Bhutan,” adds Vamsi.
Started in 1981 as a cement-roof manufacturing company by his grandfather Late G Venkat Swamy and his father G Vivekanand, who is chairman of the company, Visaka has come a long way since and has diversified into textiles, cement fibre boards and solar roofs.
The company’s ‘Vnext cement fibre boards’ is an eco-friendly alternative to plywood for building exteriors and interiors.
Vamsi played a key role in popularising Vnext boards, which is intended to provide an alternative to the construction industry’s dependence on wood-based products such as plywood.
The company estimates that by introducing Vnext product in the market it has saved about five million trees from slaughter and around 90,000 tonnes of CO2 emission.
“Made of plywood and gypsum plaster, VNext provides resistance against termite, water and fire and lasts for 50 years. What’s more, it costs just half the price of plywood,” says Vamsi, who is keen on promoting the product.
Vnext, which brought in revenue of Rs 36 crore when he joined the business in 2011, accounted for Rs 200 crore worth sales in FY 2020-21.
Vamsi has made plans to double the sales annually in the next three years to Rs 500 crore by 2022-2025.
“From selling 1,000 sq ft per month in 2011, we now sell over 1 crore sq ft per month through 12,000 selling points nationwide and we also export to 30 countries,” shares Vamsi.