Six industrialists from the city feature in top 1000 richest Indians IIFL list

Aurangabad:

Six industrialists from the city have been featured in the list of the ‘Richest People in India’ of the IIFL Wealth and Hurun India rich list 2022. These entrepreneurs consist of having a wealth of Rs 20,800 crore to Rs 1000 crore. The companies include automobile and auto components, agriculture products, pharmaceuticals and chemicals and petrochemicals

Anrang Jain

Industrialist Anurang Jain of Endurance Technology, dealing in automobile and auto components ranks 80th in the list with the wealth Rs 20,800 crore. Jain started Endurance Technologies in 1985 to supply aluminum castings to his uncle's Bajaj Auto. Jain and his family own a substantial stake in Endurance, which supplies parts for two-wheelers and three-wheelers in India and car parts in Europe. Endurance went public in 2016. It now has 17 factories in India and 10 in Europe. In June 2022, Endurance acquired Frenotecnica, an Italian firm that makes brake pads for two- wheelers.

Shrikant Badve

Shrikant Badve of Badve group ranks 125th in the list with wealth Rs 13900 crore. The company deals in automobile and auto components. Badve is a first generation entrepreneur, who established Badve Group of Industries in 1988. What started as a small business with only 3 workers has today become a leading automotive manufacturing brand in India with an employee strength of over 15,000. Badve Group has 30 manufacturing units spread across the country with turnover at over Rs 5,000 crore and is engaged in manufacturing auto components for 2-Wheelers as well as 3 and 4-Wheeler automobiles along with parts of consumer durable products.

Mannalal B Agrawal

Mannalal B Agrawal, co-founder of Ajanta Pharma ranks 318th in the list with a total wealth of Rs 5100 crore. The company deals in pharmaceuticals and is located in Aurangabad. Ajanta Pharmaceuticals has seen a rising sales in India and Africa. The generics maker, which has a presence in more than 30 countries in Asia and Africa, is slowly establishing a foothold in the U.S. The 260 million dollars (revenue) firm has invested 60 million dollars in a new formulations plant in Guwahati in northeastern India. US -educated sons, Yogesh and Rajesh Agrawal, run the company.

Tarang Jain

Tarang Jain and family ranks 359th in the list with a wealth of Rs 4400 crore. Jain belongs to the Varroc Engineering, dealing in automobile and auto components. Tarang Jain enters the ranks based on his 86 per cent stake in auto components maker Varroc Engineering. The Aurangabad company, which listed in July 2018, makes exterior lighting systems as well as two and three-wheeler parts. Varroc has 37 factories across the globe and is looking to add new ones in Morocco, the Czech Republic and Brazil.

Ashokkumar Sikchi

Ashokkumar Ramkishan Sikchi ranks 389th in the list with a net worth of Rs 4100 crore. His company Clean Science and Technology deals in Chemicals and Petrochemicals, Aurangabad. Ashokkumar Sikchi, is director with Marathwada Chemical Industries Pvt Ltd. He is currently associated with 5 companies and is director with Marathwada Chemical, Matrix Global Speciality, Matrix Life Essentials and Matrix Life Science Pvt Ltd.

Padmakar Muley

Padmakar Haribhau Mulay ranks 1036th place in the list with wealth of Rs 1000 crore, His company Ajeet Seeds deals in agriculture products in Aurangabad. Padmakar Mulay, is an industrialist having more than 45 years of experience in Construction, Agriculture Research seed and Seed development and agro based products and Sugar industry. Mulay is the managing director of Mulay Brothers Limited (MBL). Mulay made foray into agro based business by incorporating Ajeet Seeds Private Limited (ASL) in 1986 to engage in research and production of hybrid seeds for major cash crops and vegetables suitable to varying Indian climate and soil conditions.