Dilip Shanghvi, born to a Gujarati family in a small town of Gujarat in Amreli in 1955, started Sun Pharmaceutical Industries with a capital of Rs 10,000 in 1982 at Vapi. Today, Dilip Shanghvi is an Indian billionaire businessman and one of the country's richest people. Dilip Shanghvi was also honoured with the Padma Shri in 2016 by the Government of India.
According to Forbes, Dilip Shanghvi is the 7th richest person in India with a net worth of US$15.4 billion which is more than Rs ₹125,184.21 crore in INR. He ranks 109 on the list of the world's richest people. Dilip Shanghvi is the Chairman of over Rs 2,40,000 crore company. The market capitalisation of Sun Pharma is over Rs 2,40,000 crore.
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Who is Dilip Shanghvi, founder of Sun Pharmaceutical Industries?
Dilip Shanghvi hails from a Jain family and was born in the small town of Amreli in Gujarat. He is the son of Shantilal Shanghvi and Kumud Shanghvi. Dilip Shanghvi has a Bachelor of Commerce degree from the University of Calcutta. He is also an alumnus of J. J. Ajmera High School and Bhawanipur Education Society College, where he completed his schooling and graduation, respectively.
Dilip Shanghvi started his career by helping his father in his business, which was a wholesale dealership of medicines, mainly generic drugs. It was during this time that Dilip Shanghvi went on to think about manufacturing his own drugs. In 1982, when he was 27, Shanghvi opened his first manufacturing unit with a capital of Rs 10,000. He named his venture Sun Pharmaceutical Industries.
Shanghvi tasted success in the very first year when he did business of about Rs 7 lakh. Soon, he realised that he must have his own factory, so he borrowed money and set up a manufacturing unit at Vapi.
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By the 1990s, the company had made its mark. In 1993, the company re-invested its entire profit of Rs 4 crore in setting up its research centre and in the following year it hit the capital market with a public issue. At the time, the company's turnover was hovering between Rs 50 crore and Rs 60 crore. Today, that figure surpasses Rs 15,000 crore. Shanghvi has won numerous awards and recognitions in his career. He is also CMD of Sun Pharma Advanced Research Co and chairman of the Shantilal Shanghvi Foundation.
In May 2021 Dilip Shanghvi stepped down from the position of Managing director of SPARC and will continue to function as a non-executive director and chairman. Dilip Shanghvi is married to Vibha Shanghvi. They have a son, Aalok, and a daughter, Vidhi, both of whom work for Sun Pharmaceuticals.
In the Forbes Billionaires' List, Dilip Shanghvi ranks 7th in India, whereas Mukesh Ambani ranks 1st. Ratan Tata is not included in this list.
