Versatile Bonds Pvt. Ltd.
Sanjeev Narang - Managing Director - Versatile Bonds Pvt. Ltd.
The Industrial Adhesive market in India is growing at a fast pace. According to a report, it was close to 1.2 Billion USD in the year 2021, and in the next few years, it is estimated to grow even further by almost 8-10%. Versatile Bonds, founded in 1994, is an adhesive manufacturing company with a strong presence.
They aim to converge their strengths to serve the demands in a bigger, better and faster way, with their passion for utilising advanced technology to meet emerging challenges and customer demands for New Product development, cost savings, waste reduction, and sustainability. Their focus is on innovating new solutions and acting on new ideas to deliver value to their customers year after year.
The chemical industry in India has always been highly influenced by foreign companies. Importing products from abroad leads to increased costs with import duties. Versatile Bonds is working towards solving this problem.
They are developing new products through local manufacturing in India, which are a good substitute for Imported Materials. Their range of adhesives includes Chloroprene Rubber, Polyurethane Adhesive, Natural Rubber, Hot melt adhesives, and others.
In a world that is undergoing continual change, the team at Versatile Bonds firmly believes in remaining ahead of the learning curve by continuously evolving, adapting and transforming.
Versatile Bonds Pvt. Ltd. is headquartered at Naraina Industrial Area, New Delhi, India.
The team at Versatile Bonds has the vision to be the most trusted and valued business partners for their customers by bonding them with best-in-class quality products and Services and creating values not just for themselves but also for their customers.
Their mission is to build long-lasting trust by way of new developments, timely deliveries, and consistent product quality and services to meet their customer’s needs better and faster.
Sanjeev Narang, the Founder and Managing Director of Versatile Bonds, is a perseverant leader. His entrepreneurial journey started way back in 1994 when he started trading adhesives for Indian and MNC companies. In 2000, along with trading adhesives, he started his own manufacturing unit of adhesives.
Tanishq Narang a young and a dynamic entrepreneur with a vision of ‘Bonding Diversity‘ in all fields - may it be societies or substrates. Zeel to bring in the new sustainable products with technology and new infrastructure he has a passion to go international with expanding our company’s product range.
Tanishq Narang - Director - Versatile Bonds Pvt. Ltd.
Mr. Tanishq Narang, Son of Mr. Sanjeev, after his studies from India and the US is supporting Sanjeev to take the company forward. The company is expected to grow much faster with his passion, ambition and dedication. Mr. Tanishq played an instrumental role in starting the Production activity at the new Plant.
The Footwear Industry in India is thriving. In 2019, India produced 1.8 billion units of footwear, and by 2024, it is expected to produce almost 3 billion units by growing at a rate of 10% annually.
The changing lifestyle and increasing affluence have resulted in an increasing demand for footwear components, and it is projected to grow at an even faster rate.
Urbanization, Multiple Channel Retailing, Inline retailing, Increasing Fashion consciousness, and the Entry of International Brands have completely changed the Landscape of the Indian Footwear Industry. There are already many new domestic and foreign brands, such as Nike, Adidas, Puma, Reebok, Liberty, Bugatti etc.
The Indian Footwear Industry is highly fragmented, with most of the Leather shoe Units based in Agra, Kanpur, Mumbai, Ambur, Kolkata, and Jalandhar. Most of the Sport's shoes, sandals and Slipper producers are based in Delhi, Haryana, Punjab and Rajasthan.
Several of the well-known Indian Sports shoe producers, including Bata, Campus, Action, Relaxo, Welcome Shoes, Columbus, Nikolas, and many others, are all customers of versatile Bonds.
Having been associated with the industry for almost three decades, Versatile Bonds has seen the industry grow. With their policies, practices and performance over the years, they have come out as one of the most reliable and trusted business partners for footwear Manufacturers.
Versatile Bonds is a fast-growing chemical company which offers a complete range of adhesive solutions as a B2B service.
Apart from their speciality products, including Synthetic Rubber and Polyurethane Adhesives, Versatile Bonds have been working closely with their customers to offer custom-made products to suit their specific bonding needs over the past several years.
Their revenue comes from the Sale of Adhesive Products Directly to Customers.
Their key products include a complete range of products for different bonding applications.
● Synthetic Rubber Adhesive
● Polyurethane Adhesive
● Water Based Adhesives
● Hot Melt Adhesive
● Cleaner and Primers
● Lamination Adhesive
Versatile Bonds’ POLYMAXX is their highly popular brand with a rapidly growing demand in the retail segment. The company offers Synthetic rubber adhesive, Polyurethan Adhesive and a complete range of cleaners and Primers under the Polymaxx Brand.
Versatile Bonds have been producing all their adhesives from their manufacturing plant in Greater Noida. In order to meet the rising demand for their adhesives, Versatile Bonds have set up a new manufacturing plant in a footwear Park in Bahadurgarh, Haryana, with a production capacity of 10,000 MT.
Versatile Bonds have already started production at the new manufacturing plant, and their team is making every effort to meet the growing demands of their customers.
Apart from their brand Polymaxx, Versatile Bonds also import Adhesive manufactured from Great Eastern Resins Industrial co Ltd (GRECO) of Taiwan. Greco is the first shoe adhesive manufacturer in Taiwan and has been promoting water-based Adhesives for more than 20 years. The quality of GRECO adhesive is approved by all well-known international brands.
Talking about the success of Versatile Bonds, Sanjeev Narang says, “For me, success is running a profitable business with honesty and integrity and making meaningful contributions to my customers and the community as a whole.”
He emphasises that awards are a great indicator of achievement and prides on the long list of industry awards they have won. Versatile Bonds strives hard to achieve and maintain the high standards of technical excellence and innovation that their customers deserve.
In recognition of the quality and value of their products, they have received several recognitions from different Agencies. Some of them include:
● Top Domestic Sales Award from All India rubber Industries Association. 2018-19
● Emerging Company of the Year from Indo-American Chamber of Commerce: 2019
● IIFF 2017
● CIFI Confederation of Indian Footwear Industry Appreciation award: 2016
According to Sanjeev Narang, the success factors for Versatile Bonds lies on:
● New Developments
● Understanding the application
● Creating trust levels
● Creating and maintaining strong Interpersonal relationships with all their customers
● Fast Decision Making
The journey so far for versatile has been quite smooth, with full support from all their customers and going forward, they are expected to get into new markets such as Sprayable grades for Automotive applications, water-based for flex packaging, Woodworking adhesive and Pressure Sensitive Adhesives.
When the Covid-19 pandemic hit the world, many businesses and industries had to suffer its consequences. During the period, Versatile Bonds faced several challenges. With the government’s-imposed restrictions, continuing production was very difficult.
They also had to face the high cost of raw materials, as the supply chain was disrupted because of covid. All these challenges affected the Versatile Bonds’ expansion plan and delayed the commissioning of their new Plant at Bahadurgarh. However, with their great will and team efforts, Versatile Bonds manages to sustain their business and retain their customers.
Over their decades-long Journey, Versatile Bonds have had the chance to work with more than 2000+ domestic and international clients, and the relationship with them is still on.
Over the years, Versatile Bonds have established and created a niche market for their Polymaxx Brand. The Key factors differentiating them from their competitors are:
● A dedicated Team,
● Their Brand Image,
● High-Quality Products and
● Complete Range of Products.
The team at Versatile Bonds strives to deliver unmatched products and services to their clients. Their differentiating factors lie in terms of the quality they offer.
Product Differentiation: Versatile Bonds offer a full range of products for their clients, and their products are distinct in features, performance, reliability and efficacy.
Service Differentiation: The ease of Ordering, Faster and on-time deliveries set Versatile Bonds Apart. They also offer full technical services with their trained staff, who, apart from offering ongoing technical services, also offer advice on improving the Production process. The staff also provide training to customers.
Relationship: The team at Versatile Bonds is reliable and highly responsive. They believe in creating long-term relationships with their clients.
The 28-year-long Journey of Versatile Bonds has been eventful, with their fair share of lows and highs. What once started as a trading company by Sanjeev Narang, Versatile Bonds, a self-funded company, have now grown to employ approximately 100+ employees at their factory and corporate office. Some of the significant milestones for the company since its founding are:
● 1994: Start of The Business
● 2010: Started Doing Business with Greco
● 2010: Start of Adhesive Manufacturing
● 2022: Commissioned a New Plant in Bahadurgarh
A company’s core values are the principles and priorities guiding the actions of an entire organisation. Versatile Bonds have three fundamental values:
Teamwork: We achieve more by collaborating and working together.
Customer Focus: We are committed to our customers.
Agility: Focus and Speed
The past few decades have seen a rise in the rate of environmental degradation. Environmental challenges have become one of the main concerns of the government, organisations and individuals alike.
To ensure the condition does not get worse, the government has constructed several environmental regulations that every individual and organisation have to abide by.
Courtesy of environmental regulations, Versatile Bonds have been seeing an increase in the demand for Toluene Free and Water Based Adhesive products by their customers. Versatile Bonds are ready with their Products to meet the new demands for eco-friendly products.
The team at Versatile Bonds have been working towards the commissioning of a new production facility at Bahadurgarh in Haryana for the past few years. They have had several challenges along the way, but with their dedication and a great team effort, they managed to overcome every hurdle and finally, in 2022, production at the new Plant commenced.
As their future goals, Versatile Bonds have plans to expand its sales to cover the entire Indian and global market. Focusing on the southern parts of India, the team at Versatile Bonds is planning to conduct a feasibility Study and Market Research for their products in Southern India.
They are working towards establishing their Products in the retail market and Promoting the export of their Adhesive to the Middle East and African sub-continents.
In the coming four to five years, the versatile bonds team is looking forward to doubling their sales volume and profitability with the start of the new facility at Bahadurgarh. They are also working towards expanding Polymaxx sales in the southern parts of India, Chennai, Ambur, Hyderabad and Bangalore.
Future Road Map
Like Sharon Pearson famously said, “It isn’t the challenge that defines you. It’s what you do with it.” Mr Sanjeev Narang, backed with his 28+ years of experience, shares his insight for young and budding entrepreneurs, “Stay Focused and persistent efforts during challenging moments.”
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