Founder & Joint Chairman, Emami Limited
R S Agarwal Speaks Exclusively on Emami's Business & Goals
Catch R S Agarwal of Emami in an exclusive conversation with ET NOW as he speaks about business, struggles, goals & his book ...
Transcript (9 segments)
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Interviewer0:00
We focus on an inspiring book today, The Emami Way, a must-read for those who want the ins and outs of running a business. R. S. Agarwal and his business partner R. S. Goenka are going to reflect on the checkered past and share their experiences with young entrepreneurs. Let's get on board. Mr. R. S. Agarwal, he's the founder and joint chairman of the Emami Group. To talk more about the business and the strategy, good having you, Mr. Agarwal. If you can hear me, you know Emami has a number of pearls of wisdom for running a business. Take us to how the idea of writing a book came about.
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R. Agarwal0:28
I was thinking to write a book on Emami's success since the last 5 years. Then it came to my mind that why instead of thinking I start writing it. And so whatever I learned by experience in running the company and in making it successful, along with my partner Goenka, I wrote this book narrated to Ganguli and then this book came out. I have written everything about my failures in life, about my success in life, and how I inspired everyone to make my career a success, and I was also very successful.
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Interviewer1:37
Sure, sir. But in a country where brother is pitted against brother and friends turn foe on the bent of business, you've managed to keep two families together. What's the secret source behind this great family value system?
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R. Agarwal1:54
I can tell you the secret is non-attachment, the art of giving, the art of not taking, and sharing your sentiments with your partner. If you are transparent with your partner, honest with your partner, everything will come automatically. If you want to steal credit, you will be losing. If you want to give credit to others, the other would like to give credit to you. So this has helped us a lot. We are now so close since class 5. We used to study together, and today also, when I am 71 and he's about 70, we are together. And even their generation is following the same path of being together, working together, and giving credit to each other. This is the secret of succeeding in a partnership concern.
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Interviewer3:08
Emami is what it is today due to the multiple and successful acquisitions you've made over the years. Which is the one acquisition that is the most memorable and the most successful to you?
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R. Agarwal3:20
We had made many acquisitions right from Emami Limited initially in the year 1978–79. Then we went into Jandu, which was a big acquisition, and in Emami we came out with Boroplus. And then we came into Cas King. Cas King is doing very well, and the prices we have paid for Jandu and even for Cas King to market appeared to be phenomenal and high. But I believe nothing is available cheap in the world. So you should be prepared to pay higher prices, and you will be able to get the results. Even in football or cricket, everywhere the prices of players are high, and you will do well.
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Interviewer4:27
So sir, those are very valuable thoughts. Your very first venture, Chemco Chemicals, its net worth was totally wiped off. What made you take up another leap of faith, and what gave you the courage to start Emami then? What were the lessons you learned from that failure?
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R. Agarwal4:46
That is written in my book very well and very closely. Another book which is there, Another Universe, that also states my life. You can go through the books; these things will come very well. Because success and failure are part of life. Even for a student, somebody comes first, somebody fails, sitting in the same class. You can't just prescribe the reasons for failure and the reasons for success. It is in the hands of God and your dedication, your hard work, and sincerity.
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Interviewer5:37
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