The Woman Entrepreneur Taking ; Lekha Balachandran
“Everything is within your power, and your power is within you,” Janice Trachtman
Lekha Balachandran, the founder of ResiTech, which has gained popularity in the field of heavy electrical equipment manufacturing, is a notable presence among industrialists. Lekha is a strong woman entrepreneur who has made her own mark in this field, which not many have tried in Kerala. The success of Lekha Balachandran, who overcame the challenges of transformer manufacturing and with the meticulous handling of the marketing sector by her husband took ResiTech to new heights. Let’s read her success story.
An engineering graduate, Lekha Balachandran entered the industry after marriage. She learned the first lessons of entrepreneurship when she joined her husband’s family business. ResiTech Electrical was born when Lekha and her marketing expert husband Balachandran decided to leave the industry for 18 years and start their own venture.
Lekha Balachandran has carved out this vast world of Transformers through hard work. It was her own will that helped Lekha succeed in the electrical equipment business, which women generally hesitate to venture into and perseverance is also the main factor of success. Her husband also accompanies Lekha Balachandran by knowing the market and solely handles the marketing department. Years of experience in entrepreneurship and understanding of products have been an asset in Lekha’s efforts to develop a brand of her own. Later, an astonishing growth awaited ResiTech, operating in Aluva Industrial Area.
Manufacturing and supplying transformers from 100 KVA to 2000 KVA, ResiTech has established itself on the industrial map of Kerala within a short span of time. The company started in 2007 with an investment of around two crore rupees and took a few years.
Lekha Balachandran’s has become an organization with an annual turnover of Rs 18 crore which had an entrepreneurial excellence of just one year. ResiTech manufactures many products like 11KV Vacum Circuit Breaker Panels, 11 KV CT/PT Unit, 11 KV Resin Cast Potential Transformer, Low Tension Current Transformers, 22 KV/11 KV Outdoor CTs, 11 KV Load Break Switch Panel.
The one-year warranty and higher-quality transformers from ResiTech have made them a customer favourite. ResiTech is now an authorized system house of the global company Siemens.
Customers like KSEB, SBI, Reliance Communications, Railways, leading construction companies, PWD, etc. are the strength of ResiTech. ‘Quality products and services make ResiTech popular. We always try to maintain a good relationship with our customers by providing the best products. That is ResiTech ‘s success’ says Lekha.
Although we cannot expect a big business boom in Kerala as compared to other states, as long as the buildings, crusher unit, hotel and real estate sectors survive. The key to success is maintaining positive relationships with both internal and external staff and suppliers.
Lekha Balachandran states that there will be no major crisis in business as ResiTech ‘s market has now expanded to Bangalore and Coimbatore in South India. They want to take ResiTech to greater heights in the years to come. ResiTech aims to double the field and increase the product market.
For more than 16 years, ResiTech has produced epoxy resin cast transformers, switch gear components, high-tension current transformers, and potential transformers. Since their inception, they have had a positive reputation among electrical consultants, contractors, and industrial enterprises. They currently have plans to expand their production facilities and enter new markets and products.
Lekha Balachandran was the convenor of the Kerala Chamber of Commerce Ladies Forum. She believes that this is the proudest achievement in her life and that this status will enable her to maintain her social responsibility as an entrepreneur. ‘Business is the field where women can shine the most. Women can run a business as well as manage a family. I see this position as an opportunity to work to bring more women into the field’ Lekha Balachandran clarified.
Lekha Balachandran says that start-up ventures should not be started without a clear understanding of the business.
‘After ascertaining what our passion is, work with 100 percent sincerity. Never allow yourself to go back once you get down to business’. Every entrepreneur is confident in these words of Lekha. Dedication and sincerity are the main factors that lead the business to success for Lekha who does not compromise on the correct payment of taxes and the quality of the products.
Lekha received prestigious SME Awards by DESTINATION KERALA, FICCI made in Kerala Awards 2022 for the engineering sector and TIE Kerala Award for “Women Entrepreneur of the year 2017”. Her hard work has been also recognized as Dhanam Business Women of the Year 2016, Best Transformer Brand in Kerala Award 2018 from Kerala Small Scale Industries Association and Hindu Economic Forum Navaratna Award. The awards were numerous in her name.
Lekha Balachandran’s view is that no woman can succeed anywhere without the support of her family. Her husband Balachandran and their children Niranjana and Malavika stand by her every step of the way. And their love and support is the success of her and ResiTech, Lekha Balachandran reiterates.
She always believes that “Anything mentionable is manageable”. A lot of it is learned via patience and practise. ‘Every time I’m in a crisis, I feel energised. It takes practise to master the art of crisis management. Additionally, I have well-wishers and field veterans who I consult for counsel when necessary’.
Lekha Balachandran concluded, “It took me many years to get to where I am now”. Nothing could be more accurate for the female business owners of today who are boldly and fearlessly charting uncharted waters. They are moving forward with gumption and unbridled enthusiasm to change the world around them, make a difference with their ideas, seek solutions that have never been sought, fight diseases and social norms, run successful ventures and generate employment for many, and give rise to new sustainable ecosystems, whether it be in ecommerce, education, investing, travel, fashion, retail, fitness, hiring, or anything else under the sun.