Karsanbhai Patel

About Karsanbhai Patel

Birth Place: Ahmedabad, India, India

Karsanbhai Patel Net Worth

Karsanbhai Patel was born in Ahmedabad, India, India. Low-profile founder of Nirma, Karsanbhai Patel, got his start mixing detergents in his backyard and selling them door-to-door on his bicycle. His low-price Nirma brand sparked a detergents war with bigger rivals such as Unilever and Procter & Gamble. Today Nirma is one of the largest producers of soda ash in the world. Patel has long handed over operations to the next generation and took the company private in 2012. In 2016 Nirma acquired the Indian operations of French cement major Lafarge for $1.4 billion.
Karsanbhai Patel is a member of Diversified

💰 Net worth: $3.7 Billion (Updated at 22 June 2018)

2016 $1.6 Billion
2017 $2.6 Billion
2018 $3.51 Billion

Some Karsanbhai Patel images

Awards and nominations:

In 2009, Karsanbhai was ranked #92 by Forbes magazine, for the list of India's Richest persons.

In 2001, Karsanbhai was awarded an honorary doctorate by Florida Atlantic University, recognizing his exceptional entrepreneurial and philanthropic accomplishments.

In 1990, the Federation of Association of Small Scale Industries of India (FASII), New Delhi, awarded him the 'Udyog Ratna' award. The Gujarat Chamber of Commerce felicitated him as an 'Outstanding Industrialist of the Eighties'. He has served twice as Chairman of the Development Council for Oils, Soaps and Detergents.

Patel has been conferred with Padma Shri Award for the year 2010. The award was formally conferred by the President of India Mrs Pratibha Patil.

It was also announced on June 7, 2013 that he bought 40 crores six-seater chopper. After Adani Group chairman Gautam Adani and Zydus group promoter Pankaj Patel, Karshanbhai is the third Ahmadabad-based industrialist to buy a chopper.

In 2017, Karsanbhai was ranked #38 by Forbes magazine, for the list of India's Richest persons ($ 640 million).

Biography/Timeline

1969

Born into a farmer family from north Gujarat, Karsanbhai finished his B.Sc. in Chemistry at age 21 and worked as a lab technician, first in the New Cotton Mills, Ahmedabad, of the Lalbhai group and then at the Geology and Mining Department of the state Government. In 1969, Karsanbhai started selling detergent powder, manufactured and packaged in his backyard. This was an after-office Business - the one-man company would bicycle through the neighbourhoods selling handmade detergent packets door to door. At a price of Rs. 3 per kg, (one third the price of leading detergents), it was an instant success. Karsanbhai branded his detergent soap, Nirma, after the name of his daughter. After three years, Karsanbhai felt confident enough to quit his job. Later he said, "The lack of any such precedent in my family made the venture fought with fear of failure. But farmers from North Gujarat are known for their spirit of enterprise." Karsanbhai set up shop at small workshop in an Ahmedabad suburb. The Nirma brand quickly established itself in Gujarat and Maharashtra.

1990

In 1990, the Federation of Association of Small Scale Industries of India (FASII), New Delhi, awarded him the 'Udyog Ratna' award. The Gujarat Chamber of Commerce felicitated him as an 'Outstanding Industrialist of the Eighties'. He has served twice as Chairman of the Development Council for Oils, Soaps and Detergents.

1995

In 1995, Karsanbhai started the Nirma Institute of Technology in Ahmedabad, which grew into a leading engineering college in Gujarat. An Institute of Management followed, with the entire structure being consolidated under the Nirma University of Science and Technology in 2003, overseen by the Nirma Education and Research Foundation. The Nirmalabs education project, aimed at training and incubating entrepreneurs, was launched in 2004.

2001

In 2001, Karsanbhai was awarded an honorary doctorate by Florida Atlantic University, recognizing his exceptional entrepreneurial and philanthropic accomplishments.

2004

The high quality and low price of the detergent made for great value. Fuelled by housewife-friendly advertisement jingles, Nirma revolutionized the detergent market, creating an entirely new segment in the economy for detergent powder. At the time, detergent and soap manufacture was dominated by multinational corporations with products like Surf by Hindustan Lever, priced around Rs. 13 per kg. Within a decade, Nirma was the largest selling detergent in India. Since production was labour-intensive, Nirma also became a leading employer (employing 14,000 people 2004). Made without some phosphates, Nirma was also somewhat more environment friendly.

2009

In 2009, Karsanbhai was ranked #92 by Forbes magazine, for the list of India's richest persons.

2010

Patel has been conferred with Padma Shri Award for the year 2010. The award was formally conferred by the President of India Mrs Pratibha Patil.

2013

It was also announced on June 7, 2013 that he bought 40 crores six-seater chopper. After Adani Group chairman Gautam Adani and Zydus group promoter Pankaj Patel, Karshanbhai is the third Ahmadabad-based industrialist to buy a chopper.

2017

In 2017, Karsanbhai was ranked #38 by Forbes magazine, for the list of India's richest persons ($ 640 million).