We are a highly customer focused , financially strong and diversified group of companies serving OEMs worldwide. Our sister companies Veethree Electronics & Marine LLC, USA and Veethree Technologies, UK give us the global reach, the ability to maintain state of the art technology and to provide local support to our customers.
The group is able to provide the latest technology to its customers, at low cost country pricing.
Our broad Product Range, with over 5000 standard part numbers, helps us to be a one stop shop for our customers. Our primary markets are Commercial Vehicles, Farm Equipment, and Industrial Applications
Our Manufacturing capacity of over six million units annually with a employee strength exceeding 1000 Employees (including over 100 Engineers) and a plant spread over 130,000 square feet.
We have a strong supplier base, with 80% being located within a radius of 20 km ; and at the same time we have maintain partial vertical integration, with in house Injection Moulding Shop, Press Shop, Machine Shop, Paint Shop, Anti-Fog Coating Shop to give us more control over costs and technology. There is a captive tool room, 3D printing and Machine Building Center, which enable us to shorten the product development cycle time.
Exports constitute over 30% of our sales, and the domestic aftermarket just under 20%, which means our domestic OEMs contribute to around 50% of our sales ; making us quite diversified in terms of our customer base.
The company was founded in 1976 by our current chairman, Mr. TM Lalani, from a very low capital base. The product design was chosen to suit the rugged farm equipment market, and at the same time, costs were kept low by frugal engineering and various innovations. The company grew quickly, starting with the aftermarket, and soon, we started adding OEMs to our customer list. In 1983 we were one of the first companies to start exporting, inspite of the poor telephone lines, slow mail and no faxes, emails at all.
We added two more units, Rainbow instruments pvt ltd and V&R autogauges pvt ltd to serve the scooter market; and by the time our current managing director, Mr. Vishal Lalani joined in 1991, the group was highly profitable and well established as a top 3 player in India.
Since then, the focus has been on technology, electronic products, raising engineering and manufacturing capabilities, strengthening quality systems, and striving to be as good as the best in the world in everything we do.
In 2003, we started our US warehousing and sales office in aurora, IL and our sales in the US have grown at a CAGR of over 40% since then. In 2008 we set up our sales office in New Zealand. In 2009, we set up Veethree Electronics LLC by acquiring the assets of Teleflex Inc. and this gave us an engineering and manufacturing footprint in the US. In 2017 we have acquired Cantronik, UK to enhance the groups software capabilities and also to give us a foothold over the European market.
Started supplies to Eicher tractors
Rainbow instruments limited founded
V&R auto gauges pvt limited founded
Electronic tachometer launched
Started supplies to Tata Motors Limited
Warehousing and sales office started in the US
Moved to new manufacturing facility in Faridabad
Sales office started in ANZ
Veethree electronics and marine, USA founded
Cantronik Ltd joins Veethree family, now renamed as Veethree Technologies-UK (2019)
We cater to more than one market which has helped us grow and expand our reach. Today, we proudly serve these markets by delivering top-notch quality products which has helped us build and maintain long-term relationships with our esteemed customers.
Our company has had a rich history of innovations, and before setting up this company, our chairman was instrumental in turning around another business which was heavily dependent on imports, and before he joined as CEO, their plant was shut down on more days in a year than it was open, due to lack of material. Despite lacking a formal engineering education, he was able to develop scores of innovative solutions, and soon was able to show record profits.
One of our innovation themes is use of alternative materials, specially plastics in place of metal, and this was started over three decades ago for the inner mask of our round gauges. Light-weighting is another concept where we were one of the pioneers, and this was done almost four decades back, when the fuel level sensor flange material was changed from zinc alloy to aluminium alloy. There are several examples of extra protections we have provided in instances where the customer has not been able to correct the matching part / system and has sought our help. Examples include an extra steel cap on speedometers to protect against extra thrust of speedocables, and a resettable fuse in fuel level sensors to protect against accidental short circuits.