Thyrocare: How Son Of A Farmer Established Rs. 3,377 Crore Worth Of Thyroid Testing Company!
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Thyrocare’s owner Velumani had very humble beginnings. He was born to a poor landless farmer in a village of Appanickenpatti Padur in Tamil Nadu. Velumani was so poor that he sought the help of government’s subsidy to go through school and college days.
He started his journey as a shift chemist at Gemini Capsules, a small pharmaceutical company in Coimbatore in 1979 and earned only 150 every month from which he kept Rs. 50 for himself and Rs. 100 for his parents who used it for the education of his siblings. The company was shut down after three years and Velumani was jobless at that time.
During his 14 years of servitude at Bhabha Atomic Research Centre for Rs. 880 a month in Mumbai, Velumani also started giving four tuitions a day for another Rs. 800. Of this Rs. 1,680, he would send Rs. 1200 a month to his home as he had told a lie to his mother that he was earning Rs. 2000 a month instead of Rs.800.
At the age of 27, Velumani got married to a girl who was working at SBI for Rs. 1600 a month. After his marriage, Velumani started doing his Ph.D. in thyroid biochemistry. One day Velumani decided to change his life. He decided to channel his expertise in Thyroid biochemistry to set up testing labs that detected Thyroid disorders.
With Rs. 1 Lakh from his provident fund, at the age of 37, Velumani opened a shop in Byculla, South Mumbai.
Today his company is the largest Thyroid testing company in the world but he lives with simplicity. He does not even own a car. He lives in small quarters above his large lab in the Navi Mumbai and still ends up sleeping in the lab most nights.
His company is worth Rs. 3,377 Crore (as of may) and Velumani owns a 64% stake in the company, which makes him worthy of approx Rs. 2,158 Crore!
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