Meet man, farmer's son who acquired struggling company along with Amitabh Bachchan, turned it into Rs 38000 crore giant

Premchand Godha is a name well recognised among the vast list of Indian entrepreneurs. He is one of the 185 billionaires in India. However, Godha’s story is no less than a rags-to-riches story. Born into a farmer’s family in Rajasthan in 1947, Godha worked his way up the ladder with sheer determination, which today makes him one of India’s wealthiest individuals. 

After earning his bachelor's degree from the University of Rajasthan, Godha moved to Mumbai to start his professional journey as a chartered accountant. Godha’s life presented him with a golden opportunity when he started working for Bollywood superstar Amitabh Bachchan, managing the finances of the Bachchan family. As he worked closely with the Bachchans, his relentless knowledge and skills paved the way for newer and bigger opportunities. 

A pivotal moment in Godha’s life was the revival of Ipca laboratories under his supervision. He joined the struggling company in 1975, as he collaborated and worked closely with Jaya Bachchan, intending to turnaround the losses that the company was under. In the 15 years of his experience in being a CA, his financial expertise and strategic skills proved more than effective for Ipca. Today, it stands as one of the best-performing pharmaceutical companies with a market capitalisation of nearly Rs 38,000 crore.

With Godha overseeing the company’s finances, Ipca successfully bounced back as a leading player in the pharmaceutical industry. When he first started working for the company, it had a modest revenue of Rs. 54 lakh per annum. 

In 1999, the Bachchan family faced financial challenges and sold off their 36% stake in Ipca. Godha, who along with MR Chandurkar, held the highest stake in the company, stayed back and continued to guide the company on a path of success. Godha and Chandurkar, the two directors,  today hold around 50% combined stake in the company. Ipca Laboratories is not only a success in India, but a major player in the global pharmaceutical market, showcasing the immense potential in the company, producing critical treatments for diabetes, cardiovascular diseases, pain management and malaria. 

The Financial Express reports that Godha’s net worth exceeds Rs 10,800 crore.