THE BIGGEST GAINERS
Vikram Lal, Eicher Motors
+$2.01 bln (+213.8%)
Rank 29; 38 places
The highest gainer on the Rich List this year is Vikram Lal, whose wealth has more than doubled with the share price of Eicher Motors soaring during this period. Consider that the stock closed at Rs 10,825 on September 5 this year, up from Rs 3,198 on the same day in 2013. Much of the impetus has come from the sales of the company’s Royal Enfield motorbikes, which grew by 81 percent, zooming through the auto slump that impacted the rest of the Indian industry. Eicher Motors, now headed by Vikram’s son Siddhartha, also runs a joint venture with Volvo, and recently opened a Royal Enfield concept showroom in London. It plans to set up more such outlets in the US.
Vivek Chaand Sehgal, Samvardhana Motherson
+$1.56 bln (+195.59%)
Rank 36; 41 places
Autoparts mogul Sehgal is not only among the fastest risers on the list, but also a billionaire this year. His ascent has been spurred by his long-term strategy of inorganic growth, which saw him make 11 acquisitions in the last 12 years. The most recent was in August, when flagship Motherson Sumi Systems bought American company Stoneridge Inc’s wiring harness business for $65.7 million. (The Samvardhana Motherson Group has about 230 companies, of which Motherson Sumi is the largest.) This deal gives Sehgal access to the US markets and is expected to add about $300 million to the group’s topline.
Gautam Adani, Adani Group
+$4.45 bln (+167.92%)
Rank 11; 11 places
The Gujarat-based port czar is the biggest dollar gainer on the list, with shares of his companies rallying through the year. His flagship Adani Enterprises rose by 275 percent on the BSE, adding over $4 billion to his net worth. His bounce, however, was muted by the power business, with Adani Power gaining only 47 percent in the same period. Thermal power generation based on imported coal has been in a funk as electricity distribution companies in India moved courts, refusing to pay higher tariffs as allowed by the regulator. This resulted in the shutdown of several units of Adani’s Mundra plant. Notwithstanding this, he has stayed bullish on power, and even signed a $1 billion deal to buy Lanco Infratech’s Karnataka power plant in August. He has also announced plans to invest $2 billion in a new project in Odisha.
Qimat Rai Gupta, Havells
(This story appears in the 16 October, 2014 issue of Forbes India. To visit our Archives, click here.)