Sandeep Engineer is the owner of the company Astral Pipes. He had no background in business and failed in the implementation of his first two business ideas. Today, according to Forbes, he is counted among top 100 richest people from India. His company has a value of Rs 27,893 crore.
New Delhi: The Indian industrialist Sandeep Engineer had no background in business. He grew up in a normal middle-class household with dreams of reaching the skies. He launched his first business, failed terribly, and continued to work on the next one. He did not deviate from his dreams even after experiencing losses in his second business.
Today, he is counted among top 100 richest people from India. As per Forbes, Sandeep Engineer, the owner of Astral Pipes, has a net worth of Rs 27,893 crore.
Losses in first business
Sandeep Engineer worked in Cadila Labs for about two and a half years. The monotony of the job did not excite him and decided to quit his job. It was the year 1981, when Sandeep Engineer launched his business of distributing flavoured Isabgol (Psyllium Husk). Due to lack of sales, he had no other choice than to shut down his business. He had suffered a loss of Rs 5,000, which was a substantial amount in the 1980s.
Manufacturing products for Cadila
Sandeep Engineer’s undying determination helped him persevere for his dreams. He received business advice from Pankaj Patel, the Chairman of Cadila Healthcare, that Sandeep Engineer could start a business of producing active ingredients that would be marketed by Cadila.
Sandeep named his company ‘Shree Chemicals’ and started manufacturing the products. However, the quality of the products did not meet the standards of Cadila, and as a result, most of his products were rejected by Cadila. Sandeep Engineer had to shut down his business again.
Kairav Chemicals
By this time, Sandeep Engineer had a firm grasp over how the businesses were meant to be handled. He had developed business tactics and knew everything about the chemical production industry. He established his company, Kairav Chemicals, and made profits from his business for the first time.
The launch of Astral Pipes
Sandeep Engineer achieved ultimate success with the launch of Astral Pipes. During this time, CPVC pipes were popular in America, but the products were not sold in India. Sandeep saw this as an opportunity and began manufacturing CPVC pipes in the year 1998. Before this, CPVC pipes were not manufactured or distributed in India.
A trusted brand
Sandeep Engineer’s pioneering business of manufacturing CPVC pipes in India was met with its fair share of challenges. Due to lack of popularity, his company could only manufacture pipes for industrial purposes. Gradually, the company expanded the business by manufacturing plumbing items. Salman Khan became the brand ambassador of the company, and the sales soared to the heights of success.
Read Exclusive COVID-19 Coronavirus News updates, at MyNation.