Kochouseph Chittilappilly is a very unusual man, and it isn’t in the business sense alone. To give a hint of Kochouseph’s remarkable nature, take the instance of how despite huge family disapproval, he donated one of his kidneys at the age of 60 to an unknown person. This exceptional act of sacrifice was in line with his conviction in his business too.
Kochouseph is a first generation entrepreneur who has built a tidy fortune had a humble beginning. To hark back in time, after his Post Graduation in Physics from St. Thomas College in Thrissur, Kerala, the 25-year old Kochouseph joined a local firm that made Voltage Stabilizers in 1973. But, the firm closed down abruptly. Instead of finding another job, Kochouseph saw a great business opportunity in making Voltage stabilizers as power fluctuation was a major problem in Kerala.
With Rs 1 lakh borrowed from his father, Kochouseph set up V-Guard Industries in a small room in Kochi in 1977 with just two employees. It was a humble beginning with the company making 50 voltage stabilizers a month.
The initial few years were smooth. But in 1984 it confronted its first major challenge in the form of a labour problem. And this seemed like the end of the road for Kochouseph. But a chance meeting with a priest of a local church changed his destiny. He hit upon a novel idea of outsourcing the manufacturing of voltage stabilizers to small scale units run under the supervision of the church. Strategic moves like these helped V-Guard to make progress from a single-product company in 1992 to manufacturing a range of products.
Today, V Guard is firing on all cylinders. It sells over 2.5 lakh voltage stabilizers a month. Besides, it has expanded its product range by manufacturing UPS systems, house wiring cables, LT cables, pumps, electric and solar water heaters, fans, kitchen appliances and switchgears.
This wide range of offerings has helped the company to shore up its top line and bottom-line. In the last decade, the company’s top line has grown almost 9 times --from Rs 210 crore in FY07 to 1,850 crores in FY16. While its bottom line has grown 8 times from Rs 13.50 crore to Rs 112 crore during the same period. This growth is reflected at the stock market too. This counter is trading heavily.
In the latest episode of Luxury of Poverty AB Ravi, Editor - Special Projects, CNBC-TV18 speaks to Dr A Velumani, Chairman of Thyrocare Technologies talks about the unusual success of V-Guard, and of the manner in which Kochouseph has risen over his adversities in life. Watch out for the show on 6.30 pm only on CNBC-TV18 on June 4.