Back to feeds

Meet the man who started at 15 and built a 100,000 CR company. 1. At the age of 15, Inder Jaisinghani had to run his father's small four-year-old hardware shop - Sindh Electric Stores in Lohar Chawl (Mumbai), when he passed away in 1968. He dropped out of school, thinking about how to grow the business further. 🤔 2. Determined to make wires and cables, Inder involved his elder brother and two younger siblings. Soon, he realised the potential for substantial earnings in manufacturing them. And he took a big step. 🤞 3. He left the family shop and established a partnership firm with his brothers at a 1000 sq ft rented garage in Sewri, Mumbai, to manufacture Polyvinyl Chloride (PVC) insulated wires and cables. In 1983, Polycab was born. 🚀 4. Inder started when BEST (Brihanmumbai Electricity Supply and Transport) had made cables compulsory for buildings. Their demand was peaking, but manufacturers were not able to supply. Polycab filled this gap and got a license to establish a plant in Gujarat. ✅ 5. As it shifted to a 10,000 sq ft big factory in Halol, Gujarat, it started manufacturing aluminium and bare copper wires with international standards for power, overhead conductors and even railway signals. However, manufacturing and labour were getting tough without capital. Inder had to do something. 🤔 6. He saved every penny and did not build an office but operated in his Wadala house's garage. He also travelled in second-class passenger trains to meet his distributors. As Polycab wires and cables started featuring in every electrical store in India, the 2008 global financial crisis happened. 👇 7. Copper prices dropped by 65%, but Inder never ditched his own. He still took delivery from his suppliers at higher prices and also gave additional credit facilities and extended monetary benefits to channel partners incurring heavy inventory losses. Polycab came out shining and touched revenues of 3832.94 CR by 2014. 📉 8. Polycab expanded beyond wires and started manufacturing electric fans, LED lights, switches and solar products. It became a Fast Moving Electrical Goods (FMEG) Company and touched revenues of 7956 CR at a profit of 1014.2 CR in 2019. And the big moment came. 👇 9. On 16th April 2019, Polycab was listed on the stock market with its 1346 CR IPO, getting oversubscribed 52 times. It became a household name with a presence in over 100,000 retail outlets across India and exports in 40 countries around the World. 🌍 10. Today, Polycab clocks revenue of 18039.4 CR at a profit of 1802.9 CR. With 28 manufacturing plants, 3800 + distributors, 205,000 retail outlets and a staggering 26% market share, it is worth 101,300 CR. 💪 ➡️ Inder Thakurdas Jaisinghani was India's 32nd richest man at a net worth of 53,298 CR last year. But his real wealth is his sustainable manufacturing that has impacted the lives of 77,930 people. 🙏