Refocusing on What Truly Drives Value
Background
This company, based in Bengaluru, is among the world’s top five extruder companies. With more than 35 patents and decades of research, the company is known for developing high strength steel through proprietary processes and advanced extrusion technology.
Its products serve multiple industries, including pharmaceuticals, where Steer’s Hot Melt Extrusion systems are used for complex drug formulations. By the time Mantraa stepped in, the company had innovation and technology nailed down. What it needed was sharper financial focus and strategic discipline.
The Challenge
Over the years, Steer had expanded into too many verticals. Some were profitable, some weren’t, and a few were bleeding resources quietly.
The leadership team was stretched thin, managing everything from R&D heavy engineering to niche industrial products.
While the company had great IP and global credibility, the balance sheet wasn’t reflecting its true potential. Cash flow was tight, profitability was uneven, and decisions about what to scale or shut down were delayed by emotional attachment to legacy divisions.
Mantraa’s Role
Mantraa came in as Steer’s strategic and financial partner, providing CFOlevel guidance with an outsider’s objectivity.
We started by mapping every business line, revenue, margin, growth prospects, and strategic relevance. Then, through detailed reviews with the leadership, we recommended closing down a few underperforming divisions that were draining cash and focus.
Next, we helped prioritize the core businesses, high value steel manufacturing and pharmaceutical extruder systems, where Steer had global leadership and pricing power.
As part of our CFO services, we took on financial oversight for cash flow management, compliance, and cross border operations. We also advised the team on leveraging their monopoly position in gel tablet extrusion for strategic growth and improved valuation.
The work didn’t stop at finance. We helped guide the company’s long term strategy and operational restructuring, so resources went where they truly created value.
The Impact
Within months, the company’s financial health improved visibly. Cash flow stabilized, margins strengthened, and leadership could finally see a clean picture of where growth was actually coming from. By exiting nonperforming verticals, Steer regained focus and operating discipline.
The promoters could now invest more aggressively in high margin segments like pharma and engineered materials, areas where they had both technology advantage and market demand.
