From India’s largest solar company to an unexplored bamboo-based textile brand, here’s what SMBStory covered this week


Despite fierce competition from China, Waaree Energies became India’s largest solar company, and Ahmedabad-based Mush Apparels explored bamboo for making bath towels.

Here is a recap of our SME stories of the week:

Waaree Energies

Hitesh Doshi, Chairman and CEO, Waaree

When Hitesh Doshi started a thermal equipment trading business in Mumbai in 1989, he never intended to make ends meet and make a living. He borrowed 5,000 rupees and started Mahavir Thermo Equip to exchange temperature and pressure gauges.

During a journey of more than 30 years, a period that also saw the company switch to solar, Hitesh transformed its company into Waaree Energies, making it a leading company in the manufacture of modules and panels. photovoltaics with a capacity of 2 GW – a number that continues to grow.

What started with a borrowed capital of Rs 5,000 is now seeing turnover of Rs 2,000 crore.

In an exclusive interview with SMBShistory, he said, “According to MNRE, we have the highest installed capacity of solar module manufacturers in India, followed by Adani, Vikram, etc. Last year, in a market affected by a pandemic, we recorded a turnover of 2,000 crore rupees. . Now we are increasing our capacity to 5 GW by December 2021 and hope to triple our revenues. “

Hitesh and his company Waaree operate in a market dominated by Chinese imports, and its history is one of championing the local Indian manufacture of photovoltaic solar modules and panels.

Read the full story here

Mush Clothing

Mush founders Ayush Agarwal (left) and Nihar Gosalia (right)

Despite corporate roles at Amazon and TCS respectively, engineering colleagues and friends Ayush Agarwal and Nihar Gosalia aspired to start their own business. So, they quit their cushy jobs to start Mush Apparels, exploring the use of bamboo in textiles, a concept little explored in India.

Ayush, who had seen e-commerce sellers thrive on Amazon, immediately felt the bamboo fabric would perform well on D2C online channels.

“In 2018, we quit our jobs to start Mush Apparel in Ahmedabad and bring our vision of products made from bamboo fabric to life. We sell bamboo cloth bath towels, face towels, bath sets and socks on Amazon, Flipkart, Myntra, Tata Cliq, etc., ”says Ayush.

“The previous fiscal year we recorded revenue of Rs 4 crore, and in the past 12 months we recorded Rs 7 crore. This year we are aiming to reach Rs 12 crore.

Friends claim their products largely use a 70-30 blend of bamboo and cotton, which is not common among big fashion brands who prefer to use a smaller amount of bamboo in their blends, according to the founders. by Mush.

Read the full story here

Other favorites of the week:

SMBStory Promotions

(Illustration by Gnana Selvam)

During the first week of June, SMBStory launched “SMB Specials” to explore the impact of COVID-19 on MSMEs and the resulting closures.

A recent survey by Dun and Bradstreet indicates that more than 82% of small businesses have been negatively impacted by COVID, and that 70% of them expect it to take almost a year for demand to return .

The first episode highlighted the impact of the lockdown on small darshinis who were not numerically advanced and faced shock.

Read the full story here


Founded in September 2020 by Rajesh Kumar Subramanium, Chennai-based Ghoshak helps SMEs to conduct day-to-day operations such as setting up an online store, building a website, generating electronic invoices, reports sales, customer data, inventory management, etc.

Rajesh says that initially it was a challenge to convince small traders to adopt the professional Ghoshak app. The company’s sales team personally visited small business owners, explained the benefits of using the app to them, and this was how they engaged their first customers.

The team also decided to enter certain areas, including local kirana stores, grocery stores, salons, mobile shops, etc. Little by little, they diversified their portfolio.

Today, Ghoshak has over 10,000 active customers, including shoe stores, butchers, jewelry stores, drugstores, restaurateurs, toy stores, and more.

Since its inception, it has recorded approximately 50,000 downloads of its application from the Google Play Store. Although the app is not available on the App Store at the moment, Rajesh adds that they plan to launch it in 2022.

Read the full story here


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