Exclusive: Inside Ajay Piramal’s business philosophy

After having let go of the family textile business early on in his career, Ajay Piramal diversified into pharmaceuticals and financial services and established Piramal Enterprises Limited.

Tuesday September 07, 2021 , 3 min Read

Good Morning,

For Ajay Piramal, Chairman of Piramal Enterprises Limited, change is the only constant. And no one understands the philosophy of impermanence better than him.

After having let go of the family textile business early on in his career, he diversified into pharmaceuticals and financial services and established Piramal Enterprises Limited — one of India’s large diversified companies.

In the last 32 years, the company has undergone several successful transformations and pivots through a series of M&As, joint ventures, organic growth, and alliances.

Its profit for the latest quarter (June 30, 2021) stood at Rs 539.4 crore, up by 8.85 percent from the same quarter a year ago.

In an exclusive interaction with YourStory CEO and Founder Shradha Sharma, Ajay Piramal says the company is constantly changing and adapting to stay ahead and that is one of the reasons it has been able to establish a brand that is looked at with respect.

“Building a brand is about values and purpose. Values create value in the long term,” he says.

The Interview

In a conversation with YourStory, Wow! Momo Foods Co-founder and CEO Sagar Daryani spoke about ensuring that none of the company’s 3,000 QSR employees loses their job. He also discussed plans to enter the FMCG space, launching new brands, the revival of the restaurant industry, and more.

Editor’s Pick: Techie Tuesday

For Namita Devadas, transforming her passion for computers and technology into a professional career was a no brainer. With over five years of experience in the software industry, Namita’s core focus is on learning and understanding how different systems work.

Today, as a Senior Software Engineer at Intuit, Namita gets to experiment with code and different systems every day. Read more.

Startup Spotlight

Building an affordable global IoT network

At present, a major portion of communication is done via cellular networks that transmit data through land-based towers. However, the communication of the future is expected to be based on a satellite network.

California-based Skylo Technologies is leveraging this to operate an IoT network that connects machines, sensors, and devices anywhere across the world — even in remote areas where cellular networks may not operate. Read more.

Skylo Snapshot — *Illustration: YS Design*

News & Updates

Higher education startup upGrad has launched upGrad Mentorship, which offers a range of personalised career services, including 1:1 mentoring sessions with industry experts to help working professionals get past the challenges in their career trajectory.

Ola Electric has tied up with leading banks and financial institutions, including HDFC Bank, ICICI Bank, Kotak Mahindra Prime, and TATA Capital, to provide loans to customers for its S1 electric scooter that will be available for purchase from September 8.

Marwari Catalysts Ventures and Rachit Group's Rachit Poddar and Rajesh Gupta, Director at Jaybharat Group, have made an undisclosed amount of strategic investment in Sapio Analytics, a government advisory firm with its offices in Mumbai, Palo Alto, and London.

Bengaluru-based plant-based foodtech startup GoodMylk has raised $1 million in a seed round extension from a clutch of domestic and international angel investors. The funds raised will be used for expanding the product portfolio and distribution for more accessibility across India.