Starting from $130 (Rs.10K ) to now a $940 million (in revenue) company. The story of Qimat Rai Gupta & his electrical company #Havells

#thread #business #growthstory
Qimat Rai Gupta (also known as QRG) was born on Jan 24 in 1937 in Malerkotla undivided Punjab.
In his early days he worked as a teacher but dissatisfied with his job,he quit & left for Delhi with Rs.10,000 to start a business of his own in 1958.
In Delhi QRG along with one of his relative, opened a electrical shop in Baghirath Palace in Delhi.
He mostly traded in switch-boards, cables, lighting bulbs etc.
In 1971 Mr. Gupta acquired Havells brand from Mr. Haveli Ram Gandhi ( many say thus the name Havells came) for Rs. 7,00,000. At one point of time Mr.Gupta was one of the distributor of Havells which then mainly focused on switch-gears.
After acquiring Havells, Mr.Gupta started to diversify and focused on other equipment like cables, lighting, appliances etc. His main goals was to transford Havells into a big & trusted FMEG brand.
In 1976, new plants were set up for switche-gears & changeovers in Kirti Nagar,Delhi and by 1980 the company set up two more new plants in Baddi & Delhi.
ORG's ideas was simple, innovation & quality product for India to compete big international brands like Phillips etc.
QRG knew to achieve the grand goal, he would need to diversify into other products as well. So he looked for loss making companies that could do wonders with guidance & strong leadership. One such company accquired was Tower & Transformers which became a success in just 1 year
To further scale up the company invested in R&D facilities to develop to drive product innovation. Along side QRG kept forming new JVs & acquisitions. JVs with Germany based Geyer was formed. DZG,Standard,CrabTree, Arnics were all accquired over the course of time.
Havells' new revenue was Net revenue FY17 was Rs 6,135 with 14% annual growth.
The Electronic consumer durable grew by 22% with net revenue of Rs1378 cr.
Fixtures & Lighting Business net revenue: Rs.843 cr (6% growth)
Switchgear: Rs.1406 cr (11% growth)
Cables: Rs.2379 cr (9%)
Today ORG's total empire is of nearly Rs.44000 crore.
Brands like Lloyd, Concord,Crabtree are all under the Havells' umbrella. ORG even forayed into health care with QRG Hospital in Faridabad & other ventures.
Mr. Gupta left for his heavenly adobe at the age of 77 in 2014. He started from literally nothing but with his vision & determination built a huge empire.
@palakzat was the inspiration behind writing this thread.
Lets make Twitter the platform to learn and grow. :)
Some Reference Links:
https://www.nextbigbrand.in/business-is-done-with-conviction-not-with-a-calculator-the-story-of-havells-india/#:~:text=Qimat%20Rai%20Gupta%20or%20QRG,goods%20shop%20in%20Bhagirath%20Palace.

https://www.rediff.com/business/report/pix-column-the-extraordinary-life-story-of-an-unsung-billionaire/20141121.htm

https://economictimes.indiatimes.com/whats-special-about-qrg-groups-70-year-old-qimat-rai-guptas-daily-meetings/articleshow/32791805.cms

https://www.business-standard.com/article/beyond-business/qimat-rai-gupta-s-electric-vision-116030201033_1.html
“Business is done with conviction, not with a calculator” – the story of Havells India - Next Big...

Sometimes I feel our generation is so obsessed with VC funded Silicon Valley unicorns of the Online world, that we forget that there are some strong companies which have grown from literally nothing....

https://www.nextbigbrand.in/business-is-done-with-conviction-not-with-a-calculator-the-story-of-havells-india/#:~:text=Qimat%20Rai%20Gupta%20or%20QRG,goods%20shop%20in%20Bhagirath%20Palace
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