Entrepreneur with global vision

YOGESH GOLE

Young and brilliant Kunal Sikchi had bagged a gold medal while graduating in chemical engineering from Thadomal Shahani Engineering College , Mumbai affiliated to Mumbai University. He immediately landed a job in BASF, a German multinational and leading chemical company in the world. He was all set to embark on a bright career as a chemical engineer but his hometown was beckoning him. Kunal came to Aurangabad and joined the family entity Marathwada Chemical Industries being run by his father and uncle since the 1960s. Working there for three years, he decided to chart his own path. His global vision, hard work and urge for doing something unique has today made him the leader of a company which is the only manufacturer of Vitamin E in India.

Kunal Sikchi Managing Director Matrix Life Science

Q: Tell us about your journey as an entrepreneur.

A: (Smiles) I would say I became entrepreneur by fluke. After my education, I was looking forward to doing something but I was clear in my mind that it must be niche, novel and out of the box, like making a product that is not manufactured in India. Thus was born Matrix Life Science Pvt Ltd in 2014. We have Research and Development-driven mindset. So, it was for the first time in India that we began producing E vitamin and allied products. Today, we are not only the sole manufacturer of these products in India but are also the third or fourth largest in the world.

Q: How is E vitamin made?

A: The waste or bye-product of edible oil industry, which is rich in bio-active ingredients like vitamin E, is our raw material. We work for enhancement or concentration of vitamin E from it. The raw material has only 2 to 3 per cent E vitamin but the finished product has 70, 80 or 90 per cent of it. The end product is used in food, feed, pharma, nutraceutical and personal care products. Seventy per cent of our products are exported to North America and Europe.

We also produce Phytosterol, which is a precursor to making of steroid and hormone, and export it to China. Whatever waste is left, we convert it to biodiesel or fatty acids. Ours is an indigenous process developed in-house.

The global demand for vitamin E is 5000 tonnes annually and Matrix this year will produce 1000 tonnes. In India, synthetic vitamins are used but after Covid-19 pandemic, there is awareness about natural and organic products so the demand is increasing exponentially. In the last three years, we witnessed 300 per cent rise in business in India. Ours is truly a Make in India venture, based out of Aurangabad.

Q: Which achievement in business gives you satisfaction?

A: It feels great to make a product, which is otherwise imported, and export it. The State Government has awarded us twice for exports. We have created facility over 24 acres at Paithan MIDC, which practically has no other industries. Eighty per cent of our 250 staff members hail from 3 kms radius of our unit. Many highly educated youths from Marathwada, who had migrated to metros for want of opportunities, have returned to work with us. We have now started farming rosemary over 100 acres for making medicinal products and plan to increase it to 1000 acres.

Q: Aurangabad as a business destination.

A: I have heard complaints about non-availability of staff but Matrix never faced this problem. Marathwada has excellent talent. From the facility point of view, Aurangabad is extremely good. The city, however, needs an international flight to say Dubai, which will connect us to the entire world. More domestic flights are needed. Currently, one has to go to Mumbai for everything. Not only Aurangabad but whole India has huge potential. I feel next 10 years are of India. Make process of providing land and infrastructure hassle-free and industry will come. Samrudhhi Mahamarg, which will unable us to reach Mumbai in four hours, can also change dynamics.