Feed Post

Meet the man who started from Rs 2500 and built a company worth 160,000 CR. 1. Born to a mining engineer father, Vivek Chaand Sehgal took an alternate path and studied commerce at Delhi University. Unlike his father, he wanted to help the family business in jewellery, which his grandfather had started. But he had a different plan. 🤔 2. He wanted to start his own business in silver trading. Along with his mother (Swaran Lata Sehgal), he started a company on the mother and son duo. In 1975, he started "Motherson Trading Company". ✅ 3. Earning just Rs 2500 monthly, Vivek realised this was not what he wanted. By 1977, he had switched to making house cables and polyester chips, failing due to pricing issues. But something interesting happened in 1983, which changed his life altogether. 👇 4. On December 14th 1983, Maruti Suzuki launched the iconic Maruti 800, the first car made 100% in India. Vivek knew it was big and wanted to supply them with a wiring harness. In 10 days, he travelled to Japan to visit Suzuki's factory but was refused entry. 🤯 5. He returned to India, worked day and night, and produced the same wire at 50% of the cost. He displayed it at Maruti's first plant in Gurgaon, Haryana, and also completed a joint venture with Japan's electrical company, Sumitomo Wiring Systems, for a new firm focused on quality. In 1986, Motherson Sumi Systems was born. 🚀 6. The idea was simple ⏩ Build affordable wiring harnesses and then sell other nonfunctional components like door handles and wheel covers to clients. And the idea worked. 80% of their 19 CR revenue in 1993 came from clients like Tata Motors and Maruti. 💪 7. As they listed on the stock markets on September 9th, 1993, they were valued at 23.8 CR and started making global partnerships: Mercedes (1995), Hyundai (1997), and Ford (1999). By 2002, they acquired the bankrupt Wexford Electronics in Ireland and supplied 500 tonnes of equipment in just ten weeks. 🙌 8. Motherson Sumi became a global company, acquiring six companies between 2002 and 2007 and expanding to ten more countries. Vivek focused on growing for five years, as 70% of his revenue came from outside India. By 2010, Motherson had become a unicorn with revenues of 6700 CR. 🦄 9. Vivek grew with his famous 3CX15 approach, meaning no countries, customers, or components should contribute more than 15% of the sales. By 2021, he had made 21 acquisitions, including Peguform, PKC, Visiocorp and UK's Bombardier Transportation. As it expanded to 41 countries, Motherson clocked sales of 56,951 CR. 📉 10. Today, Samvardhana Motherson Limited (name changed in 2022) has a revenue of 100,000 CR and works with Audi, BMW, Volkswagen, Toyota, and Porsche. With 270 facilities, 24 design centres, and 36 research hubs, it is worth 166,000 CR. 💰 ➡️ At a worth of 64,562 CR, Vivek Chaand Sehgal is the richest Indian settled in Australia. But he still supports 11 CSR campaigns in India worth 30,000 CR. 🙏