Wednesday, October 30, 2013

Third richest Indian 2013 Sun Pharmaceutical head Dilip Sanghvi by Forbes

Forbes list of India's richest tycoons for the year 2013 is out, where the top position has been retained by the Reliance Industries chairman Mukesh Ambani consecutively for the sixth year in a row, second wealthiest is the Steel giant UK based LN Mittal, but the one who actually holds the limelight in the list was the Sun Pharmaceutical giant Dilip Sanghvi.
Sanghvi with an increase of 50% in wealth that is near about $4.7 billion jumped to the 3rd spot overtaking IT czar Azim premzi (net wealth 13.8 billion) with an estimated wealth of $13.9 billion.
I'm not going to discuss about this Forbes list anymore, although at the later part of the article I will give the list of the Indians who got listed as the top 10 richest/wealthiest Indians by Forbes.

Dilip Sanghvi 58, was born in Mumbai, India. Sanghvi did his schooling from J.J Ajmera High School, Bhawanipur, Kolkata. Sanghvi then completed his graduation from Calcutta University in Bachelor of Commerce. Dilip Sanghvi is now a father of two children. Sanghvi had started a pharmaceutical company named Sun Pharmaceutical Industries limited in the year 1983. On the first year itself the company has been able to make a total sales of around 1.2 million rupees. Sanghvi in an interview said, that it took 27 years to level the mark $ 1 billion, while it took less than 3 years for the next billion dollars to be added in the revenues.
While the company is India based, but most of it's sales (around 70%) comes from US. In US Sun Pharma has the largest share of generic medicine sales among the other Indian generic medicine companies there. Sun Pharma is also the 5th largest Indian company in US.

Dilip Sanghvi is also the chairman and managing director of the first pure R&D company SPARC (Sun Pharmaceutical Advanced research company ltd.) which got listed in Indian stock exchange. Shanghvi had started his pharmaceutical company 'Sun Pharmaceutical'  as a maker of psychiatric drugs 30 years ago. Sanghvi acquired many small and big companies in the process and grew huge, this year July Sanghvi acquired an Israeli generic firm Taro Pharmaceuticals. Sanghvi's younger brother Jayant Sanghvi based in Vadodara deals in real estate and runs his business under the name of Style and Pratham Enterprises.

Dilip Sanghvi's son Aalok Sanghvi heads international marketing at Sun and has also co-founded PV Powertech, a maker of solar panels.

Top 10 richest Indians 2013 Forbes richest Indian list

#1 Mukesh Ambani US $21 billion
#2 LN Mittal US $ 16 billion
#3 Dilip Sanghvi US $ 13.9 billion
#4 Azim Premji US $ 13.8 billion
#5 Pallonji Mistry US $12.5 billion
#6 Hinduja brothers US $9 billion
#7 Shiv Nadar US $8.6 billion
#8 Adi Godrej US $8.3 billion
#9 Kumar Birla US $7.6 billion
#10 Sunil Mittal US $6.6 billion
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