In 1973, Dasari Jai Ramesh, an engineering graduate, started Vijai Electricals to manufacture transformers, with a bank loan of Rs1.36 lakh and 10 employees. Now, it is India’s largest maker of transformers, with a turnover of Rs1,400 crore in 2006 and customers across 20 countries.
Vijai Electricals has executed electrification projects in more than 7,600 villages across India, including Bihar, Uttar Pradesh, West Bengal and Karnataka. It has been working to produce energy-efficient equipment and is involved in upgrading distribution systems to minimize transmission losses. Vijai Electricals has invested around Rs500 crore, and will be putting in more than Rs 100-150 crore this year to expand its product range. “We plan to join the $1 billion club in the next three years,” says Ramesh.
Ramesh hails from a middle-class family in Andhra Pradesh’s Krishna district. “I know how powerless villagers are because of a lack of resources,” he says. “I realized that what can be produced economically is not only good for my customer, but also for society.” And then began the focus on making economical energy-efficient products. Ramesh sees a tremendous opportunity to increase profits while being useful to society.