In 1984, Ramasamy founded the KPR Mill. In 2013, he ventured into the sugar industry, and in 2019, he began marketing the men’s underwear line Faso.
KP Ramasamy, the founder and chairman of the textile and sugar manufacturer KPR Mill and a new member to the list, is one of the wealthiest Indians. With a net worth of $2.3 billion (9,143 crore), the textile tycoon is now ranked 100th.
Mukesh Ambani, chairman of Reliance Industries, was named the wealthiest Indian on the Forbes India’s Richest Indians list, which was published on Thursday. Shiv Nadar was listed third, behind Gautam Adani, in terms of popularity.
Here are five things about KP Ramasamy that you should be aware of.
1. Ramasamy, who was born into an agricultural family, established the KPR Mill in 1984. In 2013, he branched out into the sugar industry, and in 2019, he began marketing the men’s underwear line Faso. 90% of the 30,000 employees at the business, which is owned by Ramasamy and his two brothers, are women.
2.Ramasamy’s KPR Mill, which is based in Coimbatore, Tamil Nadu, also makes sugar and ethanol in addition to cotton and polyester yarn and knitted clothing.
3.According to the Forbes website, KPR Mill manufactures 128 million items of clothing each year, ranging from athletics to sleepwear, which are sold in stores like H&M, Marks & Spencer, and Walmart.
4.The company’s website states that KP Ramasamy formed “KPR Charities,” a Public Trust that disseminates education through its educational institution, “K.P.R Institute of Engineering & Technology.”
5.According to the KPR Mill website, Ramasamy developed a cogeneration sugar plant in Karnataka and installed multiple windmills in Tamilnadu as a means of obtaining green energy.
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K.P.R. Mill, based in the southern Indian city of Coimbatore, produces 128 million garments per year, ranging from sportswear to sleepwear, for multinational stores like H&M, Marks & Spencer, and Walmart. The founder and chairman of the BSE-listed firm, K.P. Ramasamy, who debuts among India’s wealthiest this year at No. 100 with a net worth of $2.3 billion, is the source of the company’s moniker.
K.P.R. Mill, based in the southern Indian city of Coimbatore, produces 128 million garments per year, ranging from sportswear to sleepwear, for multinational stores like H&M, Marks & Spencer, and Walmart. The founder and chairman of the BSE-listed firm, K.P. Ramasamy, who debuts among India’s wealthiest this year at No. 100 with a net worth of $2.3 billion, is the source of the company’s moniker.
Thanks to a 28% increase in sales to 62.5 billion rupees ($750.8 million) for the year ended March 31, K.P.R. shares have increased by 30% in the last year. Although the company also makes sugar, textiles, and yarn, it bets heavily on exports of clothing. It has constructed a new factory with a 42 million knitted garment yearly production capacity. This approach “is paying rich dividends in terms of robust revenue growth, stable margins, and superior efficiency ratios,” wrote research analysts Vikas Jain and Avinash Karumanchi of Mumbai-based Equirus Securities in a report from March.
According to London-based market research firm Business Research Company, the global textile market will increase from its present $611 billion value to $755 billion by 2027. According to Harsh Sheth, a research analyst at Mumbai-based HDFC Securities, K.P.R. should benefit greatly from the Indian government’s renewed focus on growing garment exports. In an August report, Sheth stated, “We believe K.P.R. is a long-term play on the theme of India’s textile exports.”