Born to a landless farmer father, Velumani's family faced hardships, often unable to afford basic necessities like clothing.
In the realm of Indian business, success stories often stem from humble beginnings, where individuals rise from adversity to build billion-dollar enterprises through sheer perseverance and hard work. A shining example of this journey is A Velumani, the founder and chairman of Thyrocare Technologies, a leading chain of diagnostic and preventive care laboratories. Despite facing setbacks and financial losses, Velumani's story is a testament to resilience and determination.
Velumani recently made headlines when he disclosed that he lost a staggering Rs 1400 crore after investing in a startup. This revelation came from a man who started his entrepreneurial journey with a mere Rs 500 in 1982. Reflecting on his experience, Velumani shared, "I was an entrepreneur. Created a huge fortune. Now I am new as an investor and a big victim."
The roots of Velumani's journey trace back to a childhood marked by financial struggle. Born to a landless farmer father, Velumani's family faced hardships, often unable to afford basic necessities like clothing. With a meager weekly income of Rs 50 earned by their mother, Velumani and his siblings grew up in adversity, learning the value of resilience and hard work from an early age.
Despite limited educational opportunities, Velumani pursued a degree in BSc and began his career with a pharmaceutical firm near Coimbatore, earning a modest salary. However, the company's failure after four years left him unemployed, prompting him to seek opportunities elsewhere. With only Rs 400 in his pocket, Velumani set out for Mumbai, the city of opportunities, where he worked at BARC for 14 years.
In 1996, Velumani took a bold step by utilizing his PF money to establish Thyrocare Technologies. From its humble beginnings with an initial investment of Rs 1 lakh, the company flourished, reaching a staggering worth of Rs 7,000 crore by 2021. Velumani's stake in the company surged to Rs 5,000 crore, as reported by Forbes. In a strategic move, he sold 66 percent of his stake to the parent company of PharmEasy for Rs 4,546 crore, further solidifying his position in the business world.
With over 35 years of experience in diagnostics research and business, Velumani's expertise has been instrumental in shaping the success of Thyrocare Technologies. Holding a BSc in Chemistry and an MSc in Biochemistry from prestigious universities, he furthered his academic pursuits by earning a doctorate in Thyroid Physiology while working at BARC.
In addition to his role at Thyrocare, Velumani serves as the Managing Director of Nueclear Healthcare Limited, focusing on Cyclotrons and PETCT for diagnosing and monitoring in Oncology. His journey from a struggling entrepreneur to a billionaire businessman serves as an inspiration for aspiring entrepreneurs, showcasing the transformative power of resilience, hard work, and determination.
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