Success Story of Sanjiv Goenka: The Owner of RPSG Group
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The Indian startup circuit is well known for the mighty figures who have revolutionized the world. Now, as there are millions of companies that have worked for the development of the society, the businessmen of India have made the most of the opportunities thrown at them.
Among the companies that have worked for the development of the startup circuit and providing employment, RP-Sanjiv Goenka Group (RPSG) is a brand which is popular in the Indian subcontinent. The man leading this group is Sanjiv Goenka. He has been an influential person throughout his tenure and continues to do so!
Sanjiv Goenka - Biography
| Name | Sanjiv Goenka |
|---|---|
| Born | Kolkata, India |
| Age | 61(2022) |
| Citizenship | Indian |
| Education | St. Xavier's College, Kolkata |
| Title | Chairman of RPSG Group |
| Occupation | Businessman |
| Net Worth | $2.8 Billion (January, 2022) |
Sanjiv Goenka - Background
Sanjiv Goenka - RPSG Group
Sanjiv Goenka - Transforming RPSG Group into a Conglomerate
Sanjiv Goenka - RPSG Group - Highlights
Sanjiv Goenka - RPSG Group - Funding
Sanjiv Goenka - RPSG Group - Acquisitions
Sanjiv Goenka - RPSG Group - Subsidiaries
Sanjiv Goenka - Carvaan
Sanjiv Goenka - RPSG Group - Increased Sales
Sanjiv Goenka - An Inspiration
FAQs
Sanjiv Goenka - Background
Sanjiv was born on 29 January 1961. He pursued his graduation from the prestigious St. Xavier's College, Kolkata.
Sanjiv is a former member of the Prime Minister’s Council on Trade and Industry. Presently, he is serving as the chairman of the Board of Directors of Woodlands Medical Center LTD.
Apart from making a mark on the business sector, he has also taken interest in the world of sports. Sanjiv is the owner of the ATK Football Club in the Indian Super League. He was elected as the president of the All India Management Association in 2009-2010. Apart from that, he is the chairperson of the prestigious Indian Institute of Kharagpur. Sanjiv Goenka has a net worth of $2.8 billion (January, 2022).
Sanjiv Goenka - RPSG Group
RPSG Group was created by Sanijv Goenka in 2011. This company is named after his father, Late Rama Prasad Goenka. His brother, leads the Mumbai based RPG Group while Sanjiv heads RPSG Group. The major part of Sanjiv Goenka’s group was the power generation and distribution company CESC Ltd. Hence, to match the power revenues, the junior Goenka had to make his other businesses grow faster. He had to unlock some of the value which had been trapped within the flagship CESC Ltd.
Sanjiv Goenka - RPSG Group - Highlights
| Company Name | RPSG Group |
|---|---|
| Owner | Sanjiv Goenka |
| Founded | 13 July 2011 |
| Headquarters | Kolkata |
| Revenue/Turnover | 29,795 crores INR ($4 Billion, 2021) |
| Subsidiraries | Firstsource, CESC Limited, Saregama, Spencer's Retail |
This company-owned business like retail and real estate. Three businesses in the group have turned around in the past years. These groups are carbon black, music, and film content. Sanjiv Goenka entered the BPO circuit with the purchase of Firstsource Solutions in 2012.
In October 2018, the flagship CESC was split into three parts. These parts were power generation and distribution business, retail business, and CESC Ventures. The CESC Ventures included IT and FMCG. According to Sanjiv, to turn the business around, the company decided to stop doing business for the sake of top-line, and hence, the team started to focus on profitability.
Sanjiv’s turnaround efforts at Saregama has put the company on track. He had brought in new management to the company that was a relatively smaller member of RPSG Group. It had an annual turnover of INR 356 Crore in 2017-2018. The company has rights to music content in various Indian languages, has changed very much in one year! This is all due to Sanjiv’s effort in remodelling the company.
Sanjiv Goenka - Transforming RPSG Group into a Conglomerate
Sanjiv has always guided his team. This is the reason that RPSG has become a conglomerate with diverse revenue streams.
Whenever a visitor visits his office, three small identical glass bowls of snacks are served to the visitor. Two of them comprise of snacks from the Goenka group. While the third snack has a popular fried snack from the third company. Sanjiv then challenges his guests to taste the contents of the three bowls and identify the one which is the in-house products. You might wonder why he does this kind of activity. The reason is he wants to get feedback from every visitor to his office.
Although the group’s entry to the FMCG snacks business is new, Goenka has been bullish about its future. He monitors the INR 500 Crore FMCG operation, tastes most of the new products himself, and also makes sure that the visitors check out the food. This attitude of Sanjiv has helped him expedite his wish to make the INR 26,000 Crore group an even division of the regulated and non-regulated business.
The RPSG Group used to be dependent on the power sector. The main reason being that the power sector comprised of 80% of its revenues. Well, today, revenues are evenly distributed and matched between power and other business.
Gorish Dua
Sanjiv Goenka - RPSG Group - Funding
| Announced Date | Organization Name | Lead Investor | Funding Round | Money Raised |
|---|---|---|---|---|
| Jan 4, 2018 | True Elements | Yes | Seed Round - True Elements | $671 K |
| Jul 16, 2020 | Editorji | Yes | Corporate Round - Editorji | $6.9 M |
Sanjiv Goenka - RPSG Group - Acquisitions
| Acquiree Name | Announced Date | Price | Transaction Name |
|---|---|---|---|
| Editorji | Jul 15, 2020 | N/A | Editorji acquired by RP-Sanjiv Goenka Group |
| Apricot Foods | Jul 31, 2017 | $68.6 Million | Apricot Foods acquired by RP-Sanjiv Goenka Group |
Sanjiv Goenka - RPSG Group - Subsidiaries
The RPSG Group Subsidiaries are:
- Power (CESC Limited, Haldia Energy Limited, Dhariwal Infrastructure Limited, Noida Power Company Limited, Integrated Coal Mining Ltd, Crescent Power Limited, Surya Vidyut Limited)
- IT-Enabled Services (Firstsource)
- Media and Entertainment (Saregama India Ltd, Open, Fortune India, Editorji)
- Consumer and Retail (Too Yumm! - Guiltfree Industries Ltd, Evita - Apricot Foods Limited, Spencer's Retail, Nature's Basket, Dr. Vaidya's - Herbolab India Pvt Ltd)
- Education and Infrastructure (Quest Mall, Woodlands Hospital)
- Sports (ATK Mohun Bagan, RPSG Mavericks Kolkata)
- Plantation (Harrisons Malayalam Limited)
Sanjiv Goenka - Carvaan
Saregama’s (one of the RPSG Group companies) product Carvaan now accounts for half of its revenues. Presently, more than a million products have been sold. Hence, due to its success, Goenka has launched smaller hand-held products targeting the younger generation, this hand-held music device has internet connectivity to stream music.
According to Sanjiv, Carvaan was targeted at an older generation. But, the new edition will attract the younger generation too.
Carvaan Go is also available at the company’s online store. The credit for the success of the product also goes to Vikram Mehra. He had worked with different big brands like Tata Sky and Star India.
Sanjiv Goenka - RPSG Group - Increased Sales
In December 2018, Saregama had posted a jump of 66% in sales to INR 400 Crore from INR 200 Crore. Sanjiv expects Saregama to make around INR 560-570 Crore in upcoming years. The product named Carvaan has been very popular in the Indian subcontinent. The product’s look is inspired by an old Murphy radio that was lying in the company headquarters in Kolkata.
Manav Makhija
Sanjiv Goenka - An Inspiration
Setting up a brand and making sure that the quality of the products never decreases is quite a difficult task. But, Sanjiv Goenka, RPSG Group owner, has proved the business critics wrong. With perfect planning, he has been successful in expanding the company. Under his leadership, the company is now taking giant strides in the food sector too.
The introduction of Carvaan has enabled the older generation to relive the past. His perfect business tactics have been replicated in the introduction of Carvaan Go. His products have been of high-class quality and are giving a stiff competition to the rival brands. His deep interest in investing in football, a sport that has been unable to attract the masses shows his determination to help the sectors which have been left behind. Truly, Sanjiv Goenka has been an inspiration for many budding entrepreneurs.
FAQs
What is the full form of RPG Group?
RPG Group stands for Rama Prasad Goenka Group. Harsh Goenka is the chairman of the RPG Group conglomerate.
What is Sanjiv Goenka net worth 2021?
The net worth of Sanjiv Goenka is estimated to be around $2.8 Billion. (2022)
What is the RP Sanjiv Goenka group net worth?
The net worth of RPSG in revenue is INR 26,900 Crore, Operating Income is INR 5,242 Crore and Total assets is INR 47,405 Crore in 2020.
What are the RPSG Group subsidiaries?
The RPSG Group Subsidiaries are:
- Power (CESC Limited, Haldia Energy Limited, Dhariwal Infrastructure Limited, Noida Power Company Limited, Integrated Coal Mining Ltd, Crescent Power Limited, Surya Vidyut Limited)
- IT-Enabled Services (Firstsource)
- Media and Entertainment (Saregama India Ltd, Open, Fortune India, Editorji)
- Consumer and Retail (Too Yumm! - Guiltfree Industries Ltd, Evita - Apricot Foods Limited, Spencer's Retail, Nature's Basket, Dr. Vaidya's - Herbolab India Pvt Ltd)
- Education and Infrastructure (Quest Mall, Woodlands Hospital)
- Sports (ATK Mohun Bagan, RPSG Mavericks Kolkata)
- Plantation (Harrisons Malayalam Limited)
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