Meet man who failed in class 9, now runs Rs 1,843 crore company as chairman

Rajesh Gandhi is the chairman of Vadilal Industries. He is a fourth-generation businessman who joined the company in 1979. Under Gandhi, Vadilal also ventured into the processed foods industry in the early ’90s to optimise its cold-chain network across several states.

The popular ice cream company was founded by Vadilal Gandhi in 1907. It started with just a small street soda shop in Ahmedabad. The company has now a market capitalisation of Rs 1,843 crore as of September 18, 2023. The share price of the company was Rs 2,545.50 on Monday. 

Gandhi did his schooling at St Xavier’s High School Loyola Hall, Ahmedabad. The businessman once told Fortune India that he failed in class 9 and wanted to move out of the school and join class 10 in a new school. But his father denied and he had to repeat a year in class 9.

Vadilal produces ice cream in several forms including cones, candies, bars, cups and family packs with numerous flavour options. The company has a retail presence via its franchise-based Happinnezz ice cream parlours apart from supermarkets. In the 1990s, Vadilal diversified its business by entering the processed foods industry, utilizing its well-established cold chain network.

From 1972-73, Vadilal had 8-10 outlets in Ahmedabad. Gradually, we moved from the city to other parts of Gujarat. By 1985, the company had expanded to neighbouring states like Rajasthan and Madhya Pradesh. Today, Vadilal is one of India’s leading food and beverage companies.

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