Qimat Rai Gupta: The Visionary Entrepreneur Who Electrified Success
Who is Qimat Rai Gupta?
Qimat Rai Gupta was the former Chairman cum Managing Director of QRG Group and known brand Havells India Ltd. At present his son Anil Rai Gupta, is the Chairman cum Managing Director. Qimat was a true follower of Gandhi ji, he valued humanity and good communication. He strongly believes in building direct connections with his employees and dealers.
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Qimat Rai Gupta Biography: Early Life and Career
Qimat Rai Gupta was born in 1937 in Malerkotla village of Punjab. Coming from a lower-middle-class family, Gupta's childhood was shaped by the quintessence of Indian values and the teachings of the Bhagwad Gita. Due to his family's financial constraints, he was not able to pursue higher studies, so he worked as a Drawing teacher. Despite the modest beginnings, Gupta harboured big goals from an early age, setting the stage for a remarkable entrepreneurial journey.
From his teenage years, Gupta had a knack for selling and building connections. He used to help his father, including going to nearby villages to sell kerosene oil, where he gained hands-on knowledge of selling and communicating with customers. These practical experiences laid the foundation for his skills in sales and customer relations.
He was a Drawing teacher in Punjab, but he had big dreams from the beginning and wanted to explore new possibilities in his family's trading business.
In 1958, Gupta started his career just after passing his schooling exams in Punjab. He ventured to New Delhi, where he laid the foundation for his entrepreneurial career. When P.C. Gupta, his uncle who used to live in Delhi, left town for a business trip, he entrusted Qimat with taking care of his shop. During P.C. Gupta's absence, Qimat not only managed the shop well but also attracted more customers, leading to noticeable growth in the business. Impressed by Qimat's efforts, P.C. Gupta, upon his return, suggested to start a business together.
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Qimat established "Guptaji & Company," an electrical trading business with his Uncle, with a meagre capital of Rs 10,000 in Bhagirath Place, a wholesale market for electrical goods.
The journey towards buying Brand Havells
The pivotal moment in Gupta's journey unfolded in 1971 when he spotted a golden opportunity. He acquired the renowned Havells brand from Haveli Ram Gandhi, proposing a purchase price of Rs 700,000 for both the factory and the company. However, at that time, Gupta was short of the required funds to have the acquisition. By paying less than Rs 700,000 he bought the brand name. The company was not performing well at that time. His move wasn’t just about obtaining a brand; it was about taking the helm of a company with a legacy and transforming it into something even more remarkable.
With the acquisition of Havells, Gupta wasted no time in expanding the Company's horizons. He diversified the business beyond switches, venturing into cables, lighting, appliances, fans, and geysers. This strategic move laid the groundwork for Havells to become a comprehensive player in the electrical industry. Today, the Company's market cap is ₹ 97,300 Cr.
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Who is Anil Rai Gupta?
Anil Rai Gupta is the current Chairman cum Managing Director of Havells India Ltd. He is the elder son of Qimat Rai Gupta. He joined Havells in 1992 and climbed the ranks under the tutelage of his father. Anil led the acquisition of German lighting system company Sylvania in 2007.
Since 2014, Anil has served as the Company's leader. After his father passed away in 2014, he was promoted to the Company's top position, He joined Havells in 1992 as an Executive Director. He graduated from Shri Ram College of Commerce with a bachelor’s degree in Economics. He also graduated from Wake Forest University in North Carolina, US, with an MBA in Marketing and Finance.
Anil Gupta is also one of the founders of Ashoka University which is a private liberal arts college in Haryana. He wrote a biography of his father Qimat Rai Gupta, Havells: The Untold Story of Qimat Rai Gupta in 2016. Anil Gupta is married to Sangeeta Rai Gupta. They have two children.
Acquisition of Sylvania
Havells made a significant leap into the major leagues in 2007 with its acquisition of the global lighting company, Sylvania. This strategic move propelled Havells into the prestigious ranks of the world's top four lighting companies.
At the time, SLI was 1.5 times larger than Havells and the fourth-largest lighting firm in the world. Gupta's senior management, which included his son Anil Rai Gupta, nephew Ameet Gupta, and Group CFO Rajesh Gupta, had only a few minutes to decide whether or not to purchase it. In the end, they acquired the Company making it a big success.
Today, the Havells portfolio proudly includes renowned global brands such as Crabtree, Sylvania, Concord, Luminance, and Standard.
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Brief about Havells
Havells India Ltd., incorporated in the year 1983, is a Large-cap company (having a market cap of Rs ₹ 97,300 Crore). It is a multi-billion-dollar electrical equipment company with products ranging from industrial & domestic circuit protection switchgear, cables & wires, motors, fans, power capacitors, compact fluorescent lamps (CFL), luminaries for domestic, commercial & industrial applications, modular switches covering household, commercial and industrial electrical needs, water heater and domestic appliances.
Qimat Rai Gupta Net worth
Qimat Rai Gupta passed away at the age of 77 on November 7, 2014, due to cardiac arrest. His worth was approximately $2 billion at the time of his death. Qimat's wife, Vinod Rai Gupta, is the 4th richest woman in India, according to Forbes. Mrs Rai Gupta has a net worth of around Rs 37,330 crore.
Sources
https://youtu.be/1Zfd66Btv_M?si=YhlCEkjthrJpvS4i
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