Sumanglam International Pvt Ltd, founded in 1996 by Mr. Sharad Midha, President, provides high quality compatible inks, toner powders, ink & toner cartridges and other consumables. These products are offered under the brand name ‘Odyssey,’ reflecting the company’s commitment to excellence in the field of printing consumables.
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During an interaction with Imaging Solution Magazine, Mr. Sharad Midha speaks about Sumanglam’s achievements and vision for the future.
Kindly share your story with us.
In 1996, I embarked on my entrepreneurial journey, laying the foundation for a business venture that initially centered around the import and sale of lamps. Collaborating with a supportive friend, we both sourced these lamps from China, marking the inception of our enterprise. The inaugural year saw remarkable success, with our lamp sales reaching an impressive 2.5 to 3 crore rupees in India.
During the early stages, I encountered Mr. Ma, a prominent industrialist in China, to negotiate lamp purchases for our business. Mr. Ma, the chairman of the company, initially presented pricing challenges, but eventually, we reached an mutually beneficial agreement.
Drawing on my previous experience with ITDL in the sales department, coupled with an aggressive business approach, I dedicated 14 to 15 days each month to extensive travel and meetings, which proved instrumental in providing access to various regions across the country, allowed me to connect with potential buyers, and understand the market deeply. Earlier our focus was on photocopier toners, and then we added laser toners too to our portfolio. This strategic decision rendered us virtually competition-free at that time. The uniqueness of our Odyssey range of products received great response from the customers and demand continued to rise.
What are the new developments with your company?
We have an agreement with some companies in China to establish a local plant for card printer production in India. Overcoming a five-year trademark battle with Static Control, we now hold exclusive rights to the Odyssey trademark, a fortunate outcome for us. The upcoming launch of our Odyssey-branded printer signifies the positive trajectory of our trademark. Today, we are a cash-rich and successful company. The Odyssey trademark has proven to be a symbol of luck and prosperity. We are going to launch some new products in the coming 3 months, marking a significant development for our company.
What are your thoughts about current market condition?
Now instead of buying Japanese resin, manufacturers are opting for more cost-effective alternatives such as Chinese or Shiva resin in India, which will make toners cheaper in India. Currently, the Indian toner market consumption is approximately 500 tons, with imports constituting around 120 to 150 tons. Key domestic manufacturers in India include ITDL, PTDL, and JIT, with ITDL contributing to a significant portion of 270 to 300 tons, followed by 100 tons from PTDL and 30 to 40 tons from JIT. Coming to cartridges, the market exhibits a monthly sale of 6 to 7 lakhs cartridges.
What are the challenges in the market?
Unfortunately, profitability in the cartridge market remains a challenge as businesses resort to diminishing product quality and quantity to reduce costs. For instance, the compatible 88A cartridges in the market, which previously yielded 1200 to 1300 copies each, now provides only 800 copies, with the toner reduced to 60 or 70 grams. Same is the issue with other compatible cartridges. This trend raises concerns about the market’s long-term sustainability. Some businesses persist in selling products at reduced rates and extending credit terms, potentially undermining the integrity of the industry. To ensure the survival and prosperity of the sector, it is crucial to adopt a strategic approach to pricing that allows for reasonable profit margins, fostering a balanced and sustainable business environment. This prudent approach is essential to the collective success of all stakeholders in the toner and cartridge market.
What message would you like to give to the industry?
Since the inception of our business, we’ve witnessed remarkable growth, evolving from a Rs. 50 lakhs turnover to a thriving enterprise with a turnover of 50 crores today. Our success is grounded in unwavering loyalty, delivering top-notch product quality without resorting to deceit, evading GST or engaging in malpractices. We fully comply with customs duties and income tax obligations. The key to longevity lies in the ethical path—avoid shortcuts and embrace the right direction for sustained success.
Covered By: Imaging Solution / Sumanglam International
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