Post on Medial

2024-10-23T07:58:45.369Z

Meet the man who started at 19 and built a 17,000 CR business empire. 1. Born into a Marwari family in Hisar (Haryana), Balkrishan Goenka (BKG) was born to a father who traded and exported food grains. But he wanted to do something of his own. At 16, he turned the family's movie hall into a commercial complex and set up a fast-food joint. 👇 2. But the idea did not work out. He went to London to set up a commodity business, but that also did not work out due to his lack of knowledge of international trade laws. At 19, BKG came back to India disappointed, but he was not ready to give up. 🙌 3. He decided to try one last time and ventured into textiles. With 20 lakhs from his father and an 80 lakhs loan from Canara Bank, he moved to Mumbai and set up a polyester texturing yarn unit 87 km away in Palghar, Maharashtra. In 1985, Welspun was born. 🚀 4. Within the first year, he scaled to a revenue of 18 lakhs and scaled to two more factories in Silvassa and Thane by 1989. Welspun was now producing 20 lakh kg of polyester in a year. ✅ 5. In 1993, he set up the first terry towel plant in Vapi, Gujarat, with 15,000 cotton spindles. He increased capacity from 3100 MTPA to 5200 MTPA, but nobody bought from a "Made in India" brand. BKG had to solve this. 🤔 6. He shifted to white labelling and entered a joint venture with Italian textile maker Vincenzo Zucchi SPA to produce Terry Bathrobes with international quality. After three years, he finally received an order from Walmart worth 3.1 CR. But BKG had a plan. 👇 7. In 1996, he started producing large-diameter steel pipes at a time when giants like Tata focused only on steel fabrication. He wanted to sell to Public sector undertakings (PSUs) in India, but they wanted someone with five years of experience, and BKG had none. ❌ 8. After three years of struggle, he finally received his first order from US's Enron Dabhol Power and set up a 3 lakh tonne steel plant in Gujarat. By 2006, it scaled to a revenue of 1820 CR. 📉 9. Welspun kept growing by selling Helical-Submerged Arc Welding (HSAW) and Longitudinal-Submerged Arc Welding (LSAW) pipes to the Oil and gas sector. As 70% of its business came from manufacturing, It zoomed to sales of 9000 CR by 2013. 💰 10. Welspun kept expanding and entered the transportation sector, with the contract for the Package I development of the Delhi–Meerut Expressway, covering 8.7 km in Delhi, with a total cost of 841.50 CR in 2016. As it took more water treatment and transportation projects, it scaled to a revenue of 10,000 CR by March 2020. 💸 11. Today, Welspun World has four businesses (textile, transportation, steel, and logistics) with a combined revenue of 17,000 CR and a profit of 1100 CR. With a presence in 50 countries, It is worth 40,000 CR. 💪 ➡️ Balkrishan Gopiram Goenka is worth 25,000 CR today. He has converted two time failure to billion dollar success. 🙏

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