Meet man, who used to make mosquito nets at home, now owns Rs 1300 crore company, his net worth is...
Tamil Nadu's Karur is the hometown of M Sivasamy. In addition, Karur is regarded as India's centre for producing mosquito nets. Sivasamy's father worked for the government before turning to agriculture.
With a net worth of Rs 2,400 crore, M Sivasamy was listed as the 582nd richest man in India by Hurun India Richest List 2022. Duranet, a manufacturer of mosquito nets, was founded by M Sivasamy. While attending college, M Sivasamy paid a visit to a company that produced mosquito nets. Sivasamy decided to pursue business at that point.
Tamil Nadu's Karur is the hometown of M Sivasamy. In addition, Karur is regarded as India's centre for producing mosquito nets. Sivasamy's father worked for the government before turning to agriculture.
Because Sivasamy lacked the capital to launch his company, he borrowed Rs 1,25,000 and started making mosquito nets in his living room. The business has now flourished after much hard work. As reported by Economic Times, the mosquito nets give them a turnover of `900 crore a year, out of a total business turnover of `1,300 crore.
Sivasamy, his wife, and their three children run the business. Thanks to his modernization of technology and techniques, Sivasamy remains relevant in the market.
In 2012, US-based Clarke, a manufacturer of LLINs, sold Duranet to M Sivasamy. The Pesticides Evaluation Scheme of the World Health Organisation has certified LLINs as being more effective than mosquito nets made of traditional fabrics.