Vinod Agarwal, the richest man in Madhya Pradesh, overcame many challenges to achieve his success.
New Delhi: The year was 1947. India had recently won its freedom from British rule, but the pain of the Partition still gripped the nation. In addition to thousands of deaths, millions of people had been displaced. Vinod Agarwal was born into a poor family in a small village in Madhya Pradesh during the midst of this commotion. The struggling family, who had lost everything in the partition, was trying to make ends meet and little Vinod had to endure an impoverished childhood.
How Vinod Agarwal Created A Company Valuing Rs 6,000 Crore
Vinod, though, was a tenacious youngster. Driven by his desire to improve his family’s quality of life, he started working from an early age, took odd jobs, and in the process, founded Agarwal Coal.
Today, Agarwal Coal is one of India’s largest importers of coal. They source coal from mines in Indonesia, South Africa, the United States, and Australia. Agarwal Coal also sources coal domestically from within India.
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In the past, Agarwal Coal only imported coal with a gross as received (GAR) of 5,000 or higher. However, as the price of coal rose, Agarwal Coal saw an opportunity to import coal with a GAR of 4,200. They struck a deal with an Indonesian mine to import six million metric tons of this lower-quality coal over three years, as per CEO Magazine.
Aditya Birla Group, Tata Group, IPP, and Many Other Big Clients
Agarwal Coal’s clients are mostly in the private sector, including big players like Aditya Birla Group, Tata Group, IPP, and most major captive power plants. They also have clients in the boiler industry, with orders ranging from 500 metric tons to 500,000 metric tons. Moreover, the CEO calls Agarwal Coal a “solutions provider,” meaning they are able to tailor their services to meet the specific needs of their clients, the magazine added.
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Vinod Agarwal, the richest man in Madhya Pradesh, overcame many challenges to achieve his success. Sunil Chouradia, the MD of Rajratan Global Wire, is ranked 389th on the list. EKI Energy Services, a unicorn company from Indore, has also made it to the list for the first time. Manish Dabkara, the director of the company, is ranked 459th. Dilip Suryavanshi of Dilip Buildcon Company is ranked 681st, and Devendra Jain of the same company is ranked 950th, the report added.
