Meet the man who started with 10,000 Rs and built a 14,000 CR Electrical Appliance Empire.

1. In 1958, a school teacher came from Punjab with Rs 10,000. He wanted to set up an electrical trading shop in Delhi’s wholesale market, Bhagirath Palace. The market had enough distributors already, but the teacher’s dreams were big too. In 1958, Qimat Rai Gupta began GuptaJi & Company. 🙌

2. The idea was simple ⏩ Trade Fixtures and Electric Cables. Qimat survived the decade trading cables, wires and switchgear for different brands. But his big break came in 1971.

3. Qimat was distributing industrial switchgear for one of the brands called “Havells”, named after Haveli Ram Gandhi. Despite a good brand name, Haveli could not sell the product. So, Qimat bought the brand name for just Rs 7 Lakh. In 1971, GuptaJi & Co became Havells. 🚀

4. Qimat knew that Havells failed earlier because they sold directly to retailers. The model choked up margins and reduced quality. Qimat knew that this was solvable only by bringing manufacturing in-house. In 1976, Havells opened their first factory for switches in Delhi’s Kirti Nagar. 🙌

5. Soon, Qimat realised he needed a separate factory for each appliance to maintain quality. He opened one for HBC fuses in 1979 and another for energy meters in 1980. He was relaxing until the Chinese products entered the market. 👇

6. The Chinese lacked quality but were so cheap that you could not beat them in price. It was about time customers would buy quality over price. When every factory in India was shutting down, Qimat acquired the loss-making “Towers and Transformers” in 1983 to enhance production and bear the Chinese onslaught.

7. Qimat transformed “Towers and Transformers” in just one year. In 1992, Havells became a 25 CR company. In the same year, it went public and traded on the Stock exchange. 🚀

8. Qimat kept acquiring companies to keep up with manufacturing. Between 1997 and 2001, Havells bought ECS, Duke Arnics Electronics, Standard Electricals and Crabtree India. It became a 1000 CR company and shifted to a massive 130,000 sq ft office in Noida. Everything was going great until the big foreign players decided to fight. 👇

9. GE, Philips, Crompton Greaves and Osram decided to tame Havells. Qimat knew he had to acquire a big player to tackle them. In 2007, Havells acquired the 4th largest player Sylvania for 2000 CR. It was the biggest acquisition deal in the FMEG industry. 💪

10. Havells grew to a size of 7000 CR after the acquisition. It launched products in the domestic segment like ACs, Fridges and other appliances. To promote them, Qimat also quadrupled the marketing budget to 60 CR. The famous “Shock Laga” ads were born. By 2019, Havells had become a 10,000 CR company. 📉

➡️ Today – Havells is a 14,000 CR company with over 20,000 distributors, 6500+ employees and 16 factories globally.

Qimat Rai might not be with us today, but his story is invaluable and electrifying.

By