This reflects the life philosophy of Murugan Thevar, Chairman & Managing Director of Sudar Industries Limited, a role-model first generation entrepreneur.Mr. Thevar was born in a humble remote Tamil Nadu village, arrived in Mumbai in 1984 and started his career as a tailor machine operator. Later he evolved into an entrepreneur with two stitching machines in a Chembur slum. His operation grew to 11 machines in 1992 and 45 machines in 1996 servicing the growing needs of large brands and merchant exporters in and around Mumbai. In 1999, Mr. Thevar invested in 76 garment manufacturing machines and ancillary machines (like bar tack machines, button hole and buttoning machines and steam-operated presses, among others) to become self-sufficient.
In 2002, Mr. Thevar converted his small proprietorship into a Private Limited company (Sudar Garments Pvt. Ltd.) comprising 126 stitching machines and other ancillary equipment. Mr. Thevar consolidated and relocated his 15 garment-manufacturing units to Khopoli (Mumbai outskirts) and then to Khalapur.
Sudar Industries is now the largest garment manufacturing facility in the Mumbai hinterland, one of the most respected organised large Indian garment manufacturing companies and reporting revenues of around Rs. 2 billion (2011-12).
What makes the Sudar story different is that not only the Company reposed the faith of its shareholders and financial partners by growing its garments business following its 2011 IPO but also ventured into the manufacture of pharmaceutical intermediaries and agro-chemicals. The company entered the latter business following the acquisition of an existing pharmaceutical company located on the outskirts of Vadodara.
This acquisition was value-accretive as it was concluded without any debt. Following this multi-business diversification, Sudar changed its name from Sudar Garments Ltd. to Sudar Industries Limited (following approvals from its Board of Directors, minority shareholders and related bodies - government and semi-government) and going ahead, intends to enhance value in an attractive way for its stakeholders.