Scaling heights at young age
Muhammad Meekail is a young entrepreneur and Managing Director, Magnate Group. He talks to GK reporter Rabia Noor
I am from Srinagar. I have done my B. Com only two years back in 2007. I did my NCFM (National Certification Course of Finance and Market) in the same year. I recently did my masters in International Business Studies from WLC, Delhi.
How did you start your venture?
I was basically planning to go into tourism sector, since we have got more scope for tourism and handicrafts in Kashmir. But then destiny had something different in store for me. I went into finance sector and worked there for a couple of months and then left the job. Then ultimately I went into construction works and started my own venture. Actually I started this business from a small venture after a survey of potential businesses and market in the Valley. I later diversified my business. And today this business is running nicely.
When did you establish Magnate Group?
I have established this group in September 2007 while I was only studying. I have simultaneously been handling the business affairs and my education in order to achieve my goals.
Tell us about Magnate Group?
We have got four companies in the group, viz Magnate Mineral Corporation, Magnate Mining Projects, Magnate Tele-services and Magnate Overseas. Magnate Corporation deals with distribution of post-construction material like Plaster of Paris, wall coating paint, tiles, etc. We are also manufacturing Plaster of Paris under the brand name ‘Pure’ in Jammu and have launched the product in the state. In Magnate Overseas, we import juices from a Dubai-based company Floty and distribute it to North India. We also import wooden flouring through this company. I would like to mention here that ours is the first company in the Valley that has got North India distribution. We have got sole distribution of products of a company Mitco Impression, which is into manufacturing of post-construction material, for all the three regions of state, viz. Jammu, Kashmir and Ladakh. Being commissioning and forwarding agent of Mitco Impression, we have created a huge network of retailers through our dealers in every district. In Magnate Mining Projects, we deal with mining. We have already taken mining lease and are shortly going to extract gypsum and limestone from the mountains of the Valley. Then we have recently started Magnate Tele-services, under which we will be handling distribution of some telecom companies in the Valley. Magnate is also reviving the companies that have winded up their operations in the Valley due to untoward situations during past two decades. Recently also we relaunched a couple of companies more and we will be relaunching another company soon. By doing so, we are not only producing business opportunities, but are also generating employment to the youth. The company in a very small period of time has touched the heights by getting more than 90 percent growth in its newly started business from the state. Today Magnate Group has got different Strategic Business Units to take care of its diversified businesses. We have got warehouses at three locations in the Valley, viz central, north and south Kashmir, so as to make easy availability of stocks to dealers and retailers. We have also got a good transportation facility for our supplies.
How many people work with you?
Since its inception, Magnate Group has provided employment to more than 50 people for its routine work. The group is managed by a team of professionals having vast experience in sales of FMCG products. With professional and workaholic manpower, we are working for the empowerment of unemployed youth of the Valley by introducing new products for their sales and promotions in the Valley.
Your other interests?
I like swimming and writing poetry. Every Sunday I go for swimming. I also visit gymnasium regularly.
Your future plans?
We are launching a new company with innovative products this month in the state and the products will be launched at the national level.
Lastupdate on : Mon, 5 Oct 2009 21:30:00 Makkah time
Lastupdate on : Mon, 5 Oct 2009 18:30:00 GMT
Lastupdate on : Tue, 6 Oct 2009 00:00:00 IST
- MORE FROM GK BUSINESS
- Irritants reduce cross-LoC trade into barter system
- JK misses mega tourism event in Dubai
- ‘Rs 16 crore being spent on projects in Kupwara’
- Scaling heights at young age
- PNB launches education loan scheme in Valley
- Govt for promoting low cost building technology
- Telecom users may soon get option of paying per second
- JKDES releases 3 publications
- Gratitude expressed on completion of AROGYA
- 1-day training programme on fruit preservation held
- CBI case against firms for importing spurious drugs
HOUSEBOAT OWNERS, TOURISTS AGHAST; LAWDA SLEEPS
Srinagar, Oct 5: Notwithstanding its claims of taking measures of preventing drainage flow into waterbodies, sewage of Baghwanpora on the west end of Nigeen Lake is flowing into the lake as the Lakes and More
KASHMIR MEDICOS SAY NO STRIKE TILL OCT 22
Jammu, Oct 5: Despite the state government taking a tough stand over the strike called by Doctors Joint Action Committee, over 4000 junior doctors Monday began an indefinite strike in Jammu Medical College More
2-day national seminar begins at KU
GK NEWS NETWORK
Srinagar Oct 5: Asserting that social science research was showing a declining trend in Jammu and Kashmir and other states, vice-chancellor Kashmir University Prof Riyaz Punjabi Monday said that not much More
- GK Business
Lack of communication, banking, currency exchange prove major handicaps
Srinagar, Oct 4: Even as the cross-LoC trade between AJK and Kashmir Valley is about to complete a year, a number of shortcomings continue to plague the trade that was started with much fanfare. While More