The tyre and heavy equipment industries have witnessed significant growth in the last 20 years. With an industry turnover of Rs 53 crore per annum, the tyre industry at large has come a long way to set new benchmarks in the long run. Both these industries require special management techniques and business acumen to flourish, owing to their unique nature. Some of the business leaders across the country have been able to develop the required expertise. One such leader is , the chairman of Ruia Group.
The journey of Pawan Ruia started in the early 90s, when he set up a charted accountancy firm, before establishing Ruia Cotex, a textile manufacturing company. Within a short span of two years, he incorporated Kamplapur Sugar Industries, worth Rs 80 crore. Taking decent strides in his professional career, Pawan Ruia intended to foray into heavy equipment and tyre industry to make a difference.
Achieving new milestones, Pawan Ruia took a bold move to acquire Jessop and Company, which had a negative balance sheet at that time. Ruia soon changed the fortunes of the company through technology acquisition and an extraordinary vision to silence the critics. Jessop had a net profit of Rs 100 million in just 2 years.
These events unfolded at a time when India was dependent on foreign players to meet the demand. Pawan Ruia’s decision played a pivotal role in enhancing production. Known as the turnaround tycoon in the tyre and heavy equipment industry, he became the most sought-after person in a challenging sector.
After setting a great example of transforming a sick company, Pawan Ruia went on to take over Dunlop and Falcon tyres, when both the companies were at their lowest. With an unwavering focus and determination, he changed the face of these companies to resume the production. His contribution enhanced the production and all the 4,000 employees of Dunlop were secured. Mr Ruia wiped out all the losses incurred by the company, which restored the reputation of Pawan Kumar Ruia and Ruia Group at large.
On the other hand, Falcon tyres emerged as one of the few companies in the tyre industry to shine amidst the slowdown. The company has been providing products to renowned firms like Hero Moto Corp, Bajaj Auto, Royal Enfield, etc. The tyres produced by both companies have great acceptance in the Indian market.
Leading a workforce of more than 9,000 people across different ventures, Pawan Ruia not only generated employment opportunities but also brought international recognition to the Indian tyre and heavy equipment industry. Ruia’s ventures and success in the entrepreneurial orbit earned his city a special reputation. He also expanded the operations of Ruia Group, not only in India but in other countries as well.
Today, Ruia Group is one of the main contributors in this regard, having built a vast and vibrant marketing network through dealers and depots. Under the able leadership of Pawan Ruia, the group has made its mark in the last couple of decades and looks forward to increasing its presence in the future.
Ever since stepping his foot into the professional world, Pawan Kumar Ruia has believed in striving every day to improve the processes and operations of his ventures. He also aims at enhancing the quality of services and products, while adapting to the new trends for transforming the group into a successful corporate entity.