How the Uttamchandanis are transforming the ₹11,500-crore group from a predominantly trading firm into a fast moving electrical goods maker
It was early November in Pune in 2013. The meteorological department had predicted a colder than normal winter, with temperatures expected to drop to 9 degrees Celsuis. For the Uttamchandani brothers—Rajesh and Govind—though, the winter chill was the last thing on their minds. The owners of SSK Appliances were busy breaking a sweat over something ostensibly trivial: Naming their new venture.
A couple of names were mooted for the LED business, the first major diversification of SSK Appliances which distributes Samsung mobiles and accessories. None, unfortunately, had the ‘right divine vibration’.
What made the task all the more taxing for the Uttamchandanis was a directive from their spiritual guru: The name must not only connect with the Almighty but should also be of deeper significance than the existing flagship company, Shree Sant Kripa (SSK). After a few days, and nights, of intense brainstorming, the duo hit their Eureka moment with Syska (Shree Yogi Sant Kripa Anant).
“Shree stands for goddesses, Yogi is for Lord Shiva, Anant is endless, and that’s how Syska was born,” recalls Rajesh, 54, the younger of the Uttamchandani brothers who launched the Syska label of LED lights in February 2014. In a little over four years, the LED business clocked ₹800 crore in revenue for the fiscal year ended March 2018.
Syska LED may be the face of the company which is endorsed by actor Irrfan Khan, but it is just a fraction of the overall empire of the Pune-based conglomerate. The money-spinner is SSK Appliances, which brings in revenue of over ₹10,000 crore. BaghBahar Appliances enjoys revenue of over ₹500 crore, SSK Retails adds ₹100 crore to group turnover and Syska E-retails, the youngest in the Uttamchandani stable, chips in with ₹50 crore.
Diese Geschichte stammt aus der July 6, 2018-Ausgabe von Forbes India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der July 6, 2018-Ausgabe von Forbes India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Home-Cooked Meal Is Now Greatly Valued
The pandemic has also brought with it an improved focus on hygiene, use of technology in dining, rise of cloud kitchens and resurgence in popularity of Indian ingredients
Paytm 3.0 - Reaching Near Breakeven In Two Years
As of 2020, Vijay Shekhar Sharma’s super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, he’s hopeful of reaching near breakeven in two years
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
Covid-19 has shown that women are more likely to face the brunt of job losses than men, and find fewer opportunities when they want to resume. That apart, several have to deal with increased hours of unpaid work at home and even domestic abuse
LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE
Leaders must not only guard their teams first during a crisis, but also deal with stakeholders with respect and dignity. And apart from pursuing business goals, they should remain committed to our planet and the environment
PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
Apart from building a flexible and resilient framework for the future, philanthropists, civil society and the government must work in tandem so that every rupee is absorbed on the ground
INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR
While clinical research will get a boost, having a skilled workforce and public spending on health care will be challenges in the near term
DIGITALISATION WILL HELP IN VALUE CREATION
As the pandemic brings technology and innovation to the core of business and daily life, the next decade will see about 150 million digital-first families in India
Industry 4.0: Climate Revolution?
Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for India’s businesses, but regulations need to reflect intent
EV Dream Still Miles Away
Electric vehicles have remained a buzzword in India for years. But not much has moved on ground due to high upfront costs, range anxiety and charging infrastructure
Living Waters
A virus has caused us to scramble for oxygen but our chokehold on the environment is slowly strangling the very waters that breathe life into us. The virus is a timely reminder: We are merely consumers, not producers of life’s breath on this planet
