Profile
Sanjeev Awasthi has been the CEO of Al Seeb Technical (SARCO) since 2022.
With almost three decades of experience in leadership roles, he is a proven visionary and dynamic executive.
He excels in crafting and implementing market-specific strategies, driving revenue, market share, and profits.
His expertise includes successful P&L management, leadership of diverse teams, project management, and operational enhancements.
Sanjeev holds an MBA from XLRI – Xavier School of Management and a BSc/BA in Mechanical Engineering from Harcourt Butler Technological Institute, Kanpur, India.
Al Seeb Technical (SARCO) was established in 1977 and it has seen remarkable growth since then. You have been leading the company since April 2022, so may you share some insights into your journey as the CEO of SARCO and how you have utilized your experience to further strengthen SARCO’s market leadership?
Sanjeev Awasthi: As mentioned, I joined SARCO in April 2022, and one of the prime reasons for my decision was the challenging years of 2020 and 2021, dominated by the impact of COVID-19 and an overall economic downturn. Many companies were facing significant challenges during this period. However, SARCO stood out as one of the few where our business remained robust in the preceding years but declined drastically during COVID-19. It was at this point that our owners, Al Mana Group from Qatar, decided to bring about a change in leadership. Drawing on my past experiences in the Gulf, they believed I was the right person for the job.
SARCO stood out as one of the few where our business remained robust in the preceding years but declined drastically during COVID-19
Sanjeev Awasthi
Our initial focus was on a comprehensive assessment of our financials, expenses, and resources. Given that our business was primarily concentrated on specific brands, diversification became imperative. Over the past one and a half years, we successfully integrated several complementary businesses into SARCO, including various brands in home appliances, consumer electronics, and commercial air conditioning.
Moreover, we ventured into services, making a strategic decision to enter the logistics sector. We acquired a substantial land lease in Khazaen where we are in the process of developing a large logistics facility, set to become a profitable standalone business vertical. Looking ahead, our future plans include diversification into sectors such as FMCG, MEP, and facility management within the next 3 to 4 years.
This approach has been instrumental in turning SARCO’s fortunes around. Despite numerous global challenges, our efforts in the last one and a half years have positioned SARCO to double its net profit in 2023 compared to the previous year. It has been a rewarding journey so far.
As part of the Al Mana Group, SARCO gains substantial advantages from its strong GCC presence and the esteemed reputation of the Qatar-based conglomerate. How does SARCO’s affiliation with Al Mana contribute to its growth? Furthermore, how do you maintain a harmonious relationship with the group while safeguarding SARCO’s unique identity?
Sanjeev Awasthi: Al Mana Group stands as one of Qatar’s largest conglomerates, engaging in diverse sectors such as fashion, retail, real estate, and automobiles. One key advantage of our affiliation with the Al Mana Group lies in its formidable financial strength. This financial stability provides SARCO with substantial leverage, enabling us to explore and expand into various fields without financial constraints. A recent example is our $50 million investment in Khazaen, focusing on enhancing logistic capacity.
We acquired a substantial land lease in Khazaen where we are in the process of developing a large logistics facility
Sanjeev Awasthi
Moreover, being part of the Al Mana Group opens up avenues for SARCO to integrate and synergize its operations within Oman, becoming an integral part of the group’s success story. Leveraging the various businesses within the group offers us additional advantages in terms of market presence and collaboration. We actively capitalize on the group’s extensive services, such as central finance, HR, and logistics, thereby streamlining our operational costs. In essence, these are the invaluable advantages that come with being a part of such a dynamic and expansive group.
SARCO’s businesses cover a wide range of industries. How do you ensure effective coordination and collaboration among these businesses to maximize overall performance and growth?
Sanjeev Awasthi: Our organization is well-structured with three distinct companies. The parent company, Hisham Saleh Al Mana LLC, oversees SARCO, Blue Lake Technologies, and Al Mana Logistics.
Within SARCO, each division is led by different business heads, whether it’s a general manager, deputy general manager, or senior general manager, all reporting to the CEO. Blue Lake Technologies follows a similar model with different business verticals managed by senior professionals.
One key aspect is maintaining brand sensitivity. SARCO houses different brands dedicated to home appliances, consumer electronics, B2B, Commercial Air-Conditioning, luxury, and lifestyle. In contrast, Blue Lake Technologies features completely different brands serving similar industries like home plans, consumer electronics, and commercial air conditioning. The third vertical, logistics, is entirely separate, focusing on 2PL / 3 PL logistics activities. This clear distinction prevents any mix-up between these businesses. Each business operates with its own profit and loss statement, preserving its unique identity and diversity.
You mentioned the investment in Khazaen City. Could you elaborate on the key factors that drove your company’s decision to invest in Khazaen Economic City?
Sanjeev Awasthi: Oman has a vision for 2040, and aligning with this vision, we are eager to contribute to its expansion. The government is strategically moving away from an oil-centric economy, aiming for a more diversified GDP with significant contributions from sectors like tourism and industries. Our chairman, Mr. Hisham Saleh Al Mana, envisioned investing in Oman, leading to the acquisition of SARCO in 2018.
As a second step, we ventured into the logistics sector. Looking ahead, we are considering investments in the hotel and F&B industry. Currently, we are exploring various projects with the overarching goal of actively participating in Oman’s 2040 vision.
Oman has a vision for 2040, and aligning with this vision, we are eager to contribute to its expansion
Sanjeev Awasthi
Could you share how your company actively engages with the local community and contributes to the region’s development beyond its business operations?
Sanjeev Awasthi: One of our key social responsibilities is centred around the principle of humanization. We are deeply committed to integrating local community members into various levels of our organization. This does not just mean employing locals at junior levels; we ensure their presence in mid-management and senior roles as well. Additionally, we annually welcome trainees from colleges and universities. These individuals undergo internship training within our organization, providing them with valuable insights and experiences, and shaping them into future leaders in Oman.
Apart from this, we actively participate in and contribute to various events throughout Oman. As an organization, we sponsor and engage with these events, aligning ourselves with initiatives that contribute to the well-being and growth of Oman. These endeavours reflect our commitment to making a positive impact on Oman’s development in multiple dimensions.
How do you envision your company’s role in the future of Oman’s economic landscape?
Sanjeev Awasthi: Well, as a player in the private sector, our main goal is to foster the growth of businesses and increase local employment within our company. This, in itself, serves as significant support to the Omani economy. Presently, the government is actively encouraging private enterprises to diversify into non-oil sectors. Therefore, our focus is on initiating new ventures that can make substantial contributions to the gross domestic product, steering away from dependence on oil.
One of our key social responsibilities is centred around the principle of humanization
Sanjeev Awasthi
Could you elaborate on other key areas where you believe your company can further contribute to Oman’s sustainable growth?
Sanjeev Awasthi: Currently, as I mentioned earlier, our focus is on various outlined businesses. However, looking ahead, another green initiative we are considering is the adoption of solar power. For instance, our upcoming logistics facility in Khazaen, spanning over 37,000m², is a prime candidate for utilizing solar power to meet all its electricity and power requirements. Similar projects are on the horizon, aiming to play a role in bolstering different facets of Oman’s economy.