DEK & Mavericks Green Energy Limited

DEK & Mavericks: Empowering The Future With Solar Innovations

Business Executives In Focus-2024 -Thriving Economics & Sustainability

Yes, innovation is the driving force behind our business world. Or we could just agree that it is fuel for business transformation nowadays. A few innovative business success stories have the potential to inspire the global masses and revamp industrial applications in many ways. Likewise, this is the tale of two trailblazing corporate moguls who ignited a revolution in the solar energy industry.

In addition to imparting their business savvy, we are chronicling in this piece how big ideas and unwavering focus may help one realize their dreams. We are referring to the directors of DEK and Mavericks GREEN ENERGY LIMITED, which is clearing the path for a sustainable future, Ajay Rawat and Vendhan Mudaliar.

Founded in 2021, the company was formerly known as DEK and Mavericks Infratech Private Limited. Today, it is a trailblazer in the solar energy sector. Backed by its experienced subsidiary entities—DEK Engineers (est. 2014) and Mavericks Venture (est. 2019)—the company is spearheaded by a team of seasoned promoters with extensive expertise in manufacturing, engineering, production, technology, finance, and supply chain management, drawn from leading Indian and multinational organizations.

In talks with our team, the dynamic duo shared its extraordinary journey of reshaping the growing landscape of solar energy solutions. As far as we are concerned, we believe Ajay and Vendhan’s success story is worth many reads and has valuable industrial insights.

The background story

Every corporate leader has an intriguing story to tell. Of course, they have their fair share of ups and downs, but leaders like Ajay and Vendhan know how to navigate the hardships with a calm attitude.

In order to invest in Ahmedabad-based fabrication company DEK Engineers, Mr. Vendhan Mudaliar called off from his high-paying corporate job in pharmaceuticals and communications in 2016. He joined hands with Mr. Ajay Rawat in 2019, a man with a wealth of management & leadership experience with telecom and power generation sectors.

They joined forces to form Mavericks Venture, which specializes in government infrastructure initiatives. Their first complete EPC solar project in Gujarat was successfully completed by 2021, and as a result, DEK and Mavericks Infratech Private Limited were incorporated in 2021.

In a short amount of time, the business grew and began working on projects valued at 18 crores in FY 2022-2023 and 30 crores in FY 2023-2024. The business changed its name to DEK and Mavericks Green Energy Limited in April 2024 in order to concentrate on expansion and raise more funds. As of August 2024, the company has an order book of 110 crores and aims to achieve a 126 crore topline by the end of the fiscal year.

Comprehensive Solar Power Solutions

DEK and Mavericks GREEN ENERGY LIMITED provides holistic, end-to-end solar power solutions for residential, commercial, and industrial needs. As a trusted EPC (Engineering, Procurement, and Construction) turnkey partner, the company manages every phase of solar plant development—from conceptualization and design to installation, commissioning, and operation.

Whether the project involves a rooftop solar system or a large-scale greenfield installation, DEK and Mavericks ensure the delivery of highquality, reliable solutions that meet and exceed industry standards.

Independent Power Production and Specialized Services

Apart from offering EPC services to diverse clientele, DEK and Mavericks GREEN ENERGY LIMITED have cemented their position as Independent Power Producer (IPP). It is now delivering consistent and dependable power through power purchase agreements to both government and private consumers. The company’s service portfolio is further enriched by specialized offerings that include civil work, structure and module installation, electrical installation, and comprehensive operations and maintenance for large-scale solar farms.

A Team of Experts

What gives strength to DEK and Mavericks? We asked this from the leading faces of the company. They replied that the secret lies in its dynamic and diverse team of professionals. Designers, project managers, supply chain and production specialists, consultants, and coordinators of projects all contribute significant experience from industries like manufacturing, construction, telecom, and power generation.

With their combined experience, DEK and Mavericks are able to perform exceptionally well in infrastructure development projects, especially when it comes to civil construction, electrical contracting, solar farm installation and commissioning, and the continuous operation and maintenance of these vital systems.

Commitment to Excellence and Sustainability

The company takes immense pride in its field teams that are consistent in upholding the quality of the services. Each team consists of highly skilled professionals specializing in civil and electrical installations. HSE standards(Health, Safety, and Environment) allow them to have every project well executed with utmost precision and quality control. No compromise on safety is their top priority.

The business values

At the heart of DEK and Mavericks GREEN ENERGY LIMITED’s mission is a commitment to transforming the world through technology-driven green infrastructure solutions. The company is guided by a set of core values that define its approach to business:

• Superior Solutions: Delivering superior engineered and technology-backed solutions that set industry benchmarks.
• Culture of Innovation: Fostering a culture of innovation where learning from failures is embraced, and the pursuit of excellence is relentless.
• Integrity and Safety: Upholding zero tolerance for breaches in integrity, ethics, and safety, ensuring trust and reliability in every aspect of the business.
• Partnerships: Building strong, collaborative partnerships with all stakeholders, including clients, suppliers, and the wider community.
• Sustainability: Measuring success by the positive impact on the carbon footprint, contributing to a sustainable future for generations to come.

DEK and Mavericks GREEN ENERGY LIMITED is poised to lead the industry, driving the adoption of green infrastructure with a steadfast commitment to quality, innovation, and sustainability.

Guidance that makes way

Ajay Rawat and Vendhan Mudaliar are the leaders with a difference. Under their tutelage, the management follows a philosophy of recruitment based not solely on past achievements but on the potential for future growth. They value individuals who show a strong drive for learning and career development.

Ajay and Vendhan have always advocated a sheer work-life balance. They always ensured that employees should maintain their health and family life while building their careers. They know how to delegate with an effective monitoring system encouraging team members to take ownership of their tasks. They are hands-on leaders who do not hesitate to bypass hierarchies to seek clarity, even from the junior-most team members. Their leadership style emphasizes the importance of effective communication and time management. While they are disciplined and demanding, their expectations are always realistic. Ajay and Vendhan also believe in recognizing and celebrating small victories and commendable performances within the team.

Service portfolio at a glance

• EPC for Solar Farms (CAPEX & OPEX Models):

DEK and Mavericks offer comprehensive solutions for private solar farms across India, providing full ownership under the CAPEX model and minimal investment with Power Purchase Agreements (PPA) under the OPEX model. The company manages everything from land acquisition and government approvals to financing, design, engineering, and construction, ensuring a seamless process for its clients.

• Commercial & Industrial Solar Solutions:

DEK and Mavericks deliver high-quality solar solutions tailored to the commercial and industrial sectors, helping businesses reduce electricity costs, enhance community goodwill, and improve stakeholder perceptions. The company designs customized solar arrays to maximize ROI for industries such as logistics, textiles, manufacturing, and chemicals.

• Residential Solar Rooftop Solutions:

Based in Ahmedabad, DEK and Mavericks specializes in end-to-end residential solar rooftop installations. From site visits and design to installation, maintenance, and managing government subsidies, the company simplifies the process, ensuring optimal performance and hassle-free service for homeowners.

Innovation is in their DNA

As per the duo, innovation is the vein of their organizations, and this inspires them to discard the traditional ways of doing business. The administration is making ceaseless strides to encourage the teams to keep innovating on various aspects of the business. From designing a solar farm to reorganizing the execution team, they explore the innovative ways of performing in their market.

Many times, they come face-to-face with unsuccessful attempts too, but their innovative mindset lets them reengineer the whole thing swiftly. Yet another example that proves the above premises is their implementation of the ERP system that is grossly popular amongst the construction landscape.

“So far none of the Solar EPCs have even tried this ERP, but with some tweaking around, we find it better fits ERP rather than the traditional off-the-shelf software being used by the Solar industry. The promoters of the company have a high-risk appetite, which helps in trying new things and new ways of working,” claim the leaders.

Strategically curated future endeavors

In the coming 3 to 5 years, DEK and Mavericks GREEN ENERGY LIMITED is all set to build its own solar power generation that would generate and supply clean and green energy. This futuristic project would prove lucrative for private as well as public bodies via power purchase agreements. In this phenomenal journey, the company has already created marvels and bagged a few government tenders in two Indian states so far. After solar power generation, they would also introduce EPC for hybrid wind systems.

Moreover, the company would soon release its IPO within the next 18–24 months. The next six years would be dedicated to executing 10 GW of solar projects through EPC and building a power generation capacity of 100 MW. At present, the company is exploring confidential diversification into an innovative area of sustainability, a field that remains largely untapped in India.

Details of this groundbreaking initiative will be revealed once the blueprint is finalized, with project initiation expected within the next 12 to 18 months. Ajay and Vendhan are confident to become the pioneers in this field as per their plan.

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