Rajnikant Devidas Shroff Biography
Meet Mr. Rajnikant Shroff, the Chairman and Managing Director (CMD) of UPL Limited. Under his leadership, UPL has grown into a major global agrochemical company.
In this article, we’ll look at Mr. Shroff’s impressive journey and his key role in UPL’s success.
Early Life and Family Background
Rajnikant Devidas Shroff, also known as Rajju Shroff, was born in Kutch, Gujarat.
His family had a background in the textile business, but after the great recession in the thirties, his father, Devidasbhai, and uncle, Chanprajbhai, transitioned to manufacturing pain balm and hair oil.
This shift marked the start of the family’s involvement in the chemical industry.
Rajju Shroff pursued his early education at Khalsa College in Mumbai, where he completed his B.Sc.
He also earned a degree in Chemistry from Bombay University.
After his education, he joined the R&D department of his father’s factory, gaining hands-on experience that would be crucial for his future entrepreneurial endeavors.
The Birth of UPL Limited
In 1969, with a small capital of Rs 4 lakh and a team of 20 employees, Rajju Shroff founded UPL Limited in Vapi, Gujarat.
This was a pivotal moment, as UPL started by producing red phosphorus, a key ingredient in matchbox production, in high demand during the early 1970s.
This initial success laid the foundation for a global agrochemical powerhouse.
The Green Revolution Opportunity
The 1970s saw the rise of the Green Revolution in India. Farmers were adopting new agricultural practices, but the inputs were expensive, and controlled by large multinational corporations.
Rajju Shroff saw an opportunity to provide affordable, natural agrochemicals to Indian farmers.
In 1980, UPL expanded its production by setting up a 1,000 MT facility in Ankleshwar, Gujarat, to produce yellow phosphorus, a crucial material for agrochemicals.
Going Public and Global Expansion
UPL went public in 1984, which provided the capital needed for further growth.
The company then began its international journey, acquiring MTM Agrochemical in the United Kingdom and establishing a global presence.
UPL continued to grow, expanding into new markets and introducing products like Devrinol, a pre-emergence herbicide.
A Global Powerhouse: Strategic Acquisitions
Understanding that agrochemical challenges were global, Rajju Shroff led UPL on an aggressive acquisition spree from 2001 to 2007.
The company acquired several international firms, including Reposo SAIC in Argentina, Cequisa in Spain, Advanta in Dubai, and Cerexagri in France.
These acquisitions helped UPL establish a presence in 14 countries and achieve sales of ₹7,534 crore by 2007.
Integrated Farm Solutions and Continued Growth
In 2014, UPL launched Optimal Farm Solutions, offering crop protection, nutrition, and advisory services.
This initiative expanded UPL’s reach in the agricultural sector, helping farmers improve yields and sustainability.
By 2016, UPL’s revenue had surged to ₹13,413 crore, with profits of ₹2,828 crore.
Acquisition of Arysta LifeScience
On February 1, 2019, UPL made a monumental move by acquiring Arysta LifeScience for ₹30,153 crore.
This acquisition catapulted UPL into the top five global agrochemical companies, with combined revenues of ₹35,732.5 crore.
This was a defining moment in UPL’s history, solidifying its position as a global leader.
UPL Today: A Global Leader
Today, UPL boasts revenues of ₹43,098 crore and profits of ₹5,515 crore. The company operates 44 manufacturing facilities in 130 countries, offering 1,500 products.
UPL’s valuation has reached ₹450,000 crore, making it one of the top five agrochemical companies in the world.
Rajju Shroff’s Net Worth
As of the latest reports, Rajju Shroff has an estimated net worth of $1.4 billion, according to Forbes.
His wealth is a reflection of his successful career in building UPL into a global powerhouse.
Personal Life
Rajju Shroff is married to Sandra Shroff, who is the Vice-Chairperson of UPL Limited. Together, they have two children.
Their elder son, Jaidev Shroff, is the CEO of the company, overseeing its global operations.
Their younger son, Vikram Shroff, is the Executive Director, handling the company’s internal systems and management.
Philanthropy Work
Even at 91, Rajnikant Shroff’s impact continues. He retired from the UPL board in 2022, but his legacy lives on through the Shroff Trust, which helps over 1.5 million people with education, health, and environmental initiatives.
Recognition and Awards
Rajju Shroff‘s contributions have been widely recognized:
- Padma Bhushan, by the Government of India, 2021.
- Orden Mexicana del Águila Azteca by the Mexican government, 2018.
- Ernst & Young Entrepreneur of the Year Award, 2013.
- Lifetime Achievement Award by the Indian Chemical Council, 2010.
Also Read: Meet Richest Man in Gurgaon 2024: From a Small Garage to a ₹66,904 Crore Empire
Conclusion
Rajju Shroff’s journey from a humble background to building a ₹450,000 crore global empire is truly inspirational.
His ability to seize opportunities, make bold decisions, and expand globally has set UPL on a path of sustained success.
His legacy is not only in the business world but also in his deep commitment to giving back to society.
