In the last decade, 'Make in India' and 'Atmanirbhar Bharat' has become a clarion call as the country takes giant strides to meet the target of a $5 trillion-dollar economy. Driving this from the forefront are businesses, which are being run by families that value innovation, transformation and governance while providing employment to many. Some of these businesses are already in the transition period under their next-generation leaders, who are carrying forward the legacy while charting their own course.
Moneycontrol's Indian Family Business Awards 2022 in association with Waterfield Advisors and Grant Thornton have identified and felicitated some of these family-owned enterprises, which are shaping and transforming the Indian economy and society. The winners were handed over the recognitions on August 19 by Union Minister of Commerce and Industry Piyush Goyal in New Delhi. Here is a look at some of the winners under various categories.
Super category
This year’s best family business award was won by Borosil. Shreevar Kheruka, Managing Director, Borosil Ltd accepted the award from Minister Piyush Goyal. Established in 1962, the company started as ‘Industrial & Engineering Apparatus Company Pvt Ltd’. Today, that journey is being taken forward by two listed companies - Borosil Ltd and Borosil Renewables Ltd.
Tega Industries was adjudged the Most Innovative, Disruptive & Transformational category. Mehul Mohanka, MD & Group CEO accepted the award from Goyal. Tega is a global player in designing and manufacturing ‘critical-to-operate’ consumables for the mining, mineral processing and material handling industries. The Kolkata-based company was founded in 1976, and it presently partners with 700+ customers across 70+ countries.
One of the country’s leading producers of synthetic rubber and synthetic latex, Apcotex Industries, won the award for Best Governance award in this year’s edition of IBFA 2022. Apcotex is a rapidly growing speciality chemicals company with a diverse customer base across key markets. In Forbes Asia’s Best Under A Billion 2022 companies list, Apcotex was ranked among the Top 10 in India.
Also read: IFBA 2022: Piyush Goyal felicitates winners; Dilip Shanghvi delivers emotional acceptance speech
Mega category
Century Ply was adjudged the Most Innovative, Disruptive & Transformational business this year. Century Plyboard was founded in 1986 by Sajjan Bhajanka and Sanjay Agarwal in Kolkata. The company offers plywood products under the brand name, Century Ply, and exports its products to over 20 countries.
This year’s Best Governance award under the Mega category went to Route Mobile. Founded in 2004, Route Mobile is a publicly-listed company and among the leading Cloud Communications Platform service provider offering Communication Platform as a Service (CPaaS) solutions. It is headquartered in Mumbai with a global presence in the Asia Pacific, Middle East, Africa, Europe and the Americas. Sandip Gupta, Chairman and Director of the company accepted the award.
The Best Business Led by a Woman was TVS Srichakra. The company, a member of TVS Group, is one of the largest auto ancillary groups in India. It manufactures tyres and tubes for two- and three-wheelers and off-road tyres. The company has a large customer base, including Bajaj Auto, Hero MotoCorp, Honda Motors, TVS Motors, India Yamaha Motors, etc.
The Best Family Business award was won by the Minda Corporation. Aakash Minda - Executive Director & Kanika Minda collected the award from Union Minister Piyush Goyal this evening. Minda Corporation is one of the leading automotive component manufacturing companies for OEMS in India. It has a significant pan-India presence with an international footprint in Indonesia, Vietnam, Uzbekistan, the US and Japan.
Giga category
The Giga category saw Havells India Limited win this year’s award for Most Innovative, Disruptive & Transformational Business. Havells India Limited is a leading FMEG company and a major power distribution equipment manufacturer with a strong global presence. The company pioneered the concept of exclusive brand showroom in the electrical industry and also became the first FMEG company to offer doorstep service via its initiative ‘Havells Connect’.
Pune-based Thermax Group won the Best Business led by a Woman award. The group is a Rs 4,899-crore company with a business portfolio that includes products for heating, cooling, water and waste management, and specialty chemicals. It operates globally through 29 international offices and 14 manufacturing facilities – 10 of which are in India and 4 overseas.
Alexander George Muthoot, Joint Managing Director, Muthoot Group accepted this year’s Best Family Business award for Muthoot Finance. Muthoot Finance Ltd is a financial corporation and the largest gold loan NBFC in the country. In addition to financing gold loans, the company offers other forms of loans, insurance and money transfer services and also sells gold coins.
Other categories
This year’s IBFA 2022 award for Philanthropy was won by Dholakia Foundation. The foundation is a philanthropic arm of Hari Krishna Exports Pvt Ltd, which works toward promoting sustainable development and building a more equitable world by roping in local communities to develop innovative solutions to pressing challenges. Its founder, Savjibhai Dholakia, was conferred Padma Shri for his humanitarian services in March 2022.
The jury special award for the Most Enduring Business went to Gujarat Tea Processors & Packers Ltd. Rasesh Desai, MD and Paras Desai, Executive Director accepted the award from Union minister Piyush Goyal. Gujarat Tea Processors and Packers Limited (GTPPL) is an Indian multinational FMCG company, headquartered in Ahmedabad. It is best known for its Wagh Bakri brand of tea.
Also read: IFBA 2022: It's a 30/30 journey, India enjoying fruits of demographic dividend, says Piyush Goyal
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