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Stamp of precision

Established and run by the Raikar family, Goldy Auto Stampings based at Verna is a leading manufacturer of engineered precision components for critical applications throughout India and is also a major exporter to the US and European markets, writes Michael Fisher
What was once a 100 per cent import market for precision stampings for the shock absorber industry is now being manufactured indigenously by Goldy Auto Stampings (I) Pvt Ltd. Recently, the company had diversified into fabricating electrical enclosures and has been awarded a huge contract order from a German conglomerate in Verna Industrial Estate.
It caters to almost 90 per cent of the shock absorbers manufactures. Goldy Auto Stampings was established in Verna industrial estate in 1993, and is now a leading manufacturer of engineered precision components for critical applications throughout India. It not only commands a monopoly in its field, its products are exported to the US and European markets from Goa as well.
Goldy’s products are focused on technically sophisticated machineries which are vital to key end user markets such as aerospace, automotive, power generation, and industrial machinery and equipments. Its main unit is in Nasik, plus two units in Goa. The company serves the automotive, aerospace, electrical and other industrial machineries, besides being an exporter.
Goldy executive director Sachin Raikar explains that the stamping processes such as piercing, notching and blanking produce high-quality precision parts at high production rates. While on a tour of the Verna factory, he says tough dies, large presses and high impact are used to cut and bend a variety of materials.
In a typical stamping line, the material is a roll of strip metal which is sheared, blanked, and folded into finished parts. Because the metal grain structure tends to follow part contours, stamping produces stronger parts than those typically produced by machining. In addition, stamping processes usually use less coolant and generate less scrap metal.
“We import the raw material sheets from Sweden, Germany and France, since material of required quality is not available in India and we emphasise more on productivity and optimum utilization of raw material. Our main areas of manufacture are precision stampings for shock absorbers parts, transmission components, carburetor components, and turbo ventilators, dampening valves, brake system components, electrical components and gaskets. In our diversified plan we invested by importing a Japanese CNC Turret punching press and press brake to manufacturer electrical enclosures,” says Raikar.
Goldy Auto is an offshoot of its parent Goldy Precision Stampings Pvt Ltd, Nasik, whose promoter and managing director is Mohan Raikar, uncle of Sachin, who laid the foundation stone in 1981 in Nasik. Mohan is credited in setting up a total three precision stamping units in Nasik and two units in Verna with a total investment of over Rs 5 crore only on Goa machineries and a pharmaceutical PET bottle unit in Kundaim.
“My father Anand Raikar started the Goan unit with one worker and one press machine. Today we have two units and 60 workers, most of them family bread earners,” he says.
Since its inception in 1993, this low profile Goan Company has taken the challenge where others refused to venture and is today a monopoly in manufacturing and marketing precision stampings that includes shock absorber damping valves, transmission components, carburetor components, gaskets, brake system components and electrical components.
Goldy trademark has achieved the ISO/TS 16949:2002 quality standards and moreover, it is recognised by US industries and was conferred the `International Outstanding Quality Supplier’ by Oerlikon Fairfield, USA. Goldy can stamp any type of sheet metal from thickness 0.08 mm to 8 mm having a diameter from 3 mm to 350 mm.
The state-of-the-art plant at Nashik has a capacity of manufacturing 100 million components per month and 15 million components per month in Goa. Six directors hold the reins of Goldy. “Our dream aims to be a global high speed precision stamping company shock absorber damping valves,” says Sachin.
Sachin, 32, is the second generation in the family business. He completed BE in mechanical engineering from Mumbai University after completing his diploma in mechanical engineering in Goa Government Polytechnic, Panaji. To gain experience he did a four year stint at Victor Gaskets India Ltd, Pune and joined the family organization in 2010 as a works manager.
Sachin owes his success to six directors of Goldy Group of companies, the managing director and founder Mohan Raikar, Anand Raikar, Shrirang Raikar, Manisha Raikar, Sidhesh Raikar and Jayesh Raikar. The Raikar family are natives of the picturesque village of Assolna.

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