(adsbygoogle = window.adsbygoogle || []).push({});
This first-generation entrepreneur was born into a farmer’s family and now ranks among India’s richest. With his strategic thinking and business acumen, he managed to turn around a pharma company under his leadership, which is currently valued at over ₹21,000 crore.
Meet, Premchand Godha, the Executive Chairman of Ipca Laboratories, who is among the richest Indians with a net worth of $1.7 billion ( ₹14,435 crore).
But what is less known is that this 77-year-old billionaire, who leads the ₹21,000 crore pharma company, once served as the Chartered Accountant (CA) of the Bachchan family. This enabled him to develop valuable expertise in finance and build his own empire.
Childhood and education
Born into a farmer’s family in Rajasthan, Godha graduated in commerce from the University of Rajasthan. He then became a certified Chartered Accountant from the Institute of Chartered Accountants of India.
His professional career began in 1971, and in the initial years, he managed all the finances of the entire Bachchan family, including Bollywood superstar Amitabh Bachchan.
How did Ipca happen?
1975 was a turning point when Godha and the Bachchan family invested in Ipca Laboratories. Back then, the pharma company was on the verge of collapse.
Godha’s entrepreneurial vision became the force behind the turnaround of Ipca Laboratories. From a loss-making firm, the pharma company turned into a profit-making entity. Reportedly, under his leadership, the company’s revenue jumped from ₹54 lakh to ₹4,422 crore over the years. This was despite the Bachchan family selling their stake in the pharma company in 1999 due to financial difficulties.
Godha has been on the board of directors since 31 October 1975 and has been serving as the company’s Managing Director since March 1983.
Ever since he took charge, Ipca Laboratories has witnessed a thriving business and become one of the most reputed pharmaceutical companies in India, with a market value of ₹21,298 crore (Friday’s close).
(adsbygoogle = window.adsbygoogle || []).push({});