Section 34
Kumar Mangalam Birla
Became group chairman at 28 and built a global group through 26 acquisitions in 17 years. (Aditya Birla Group)
- life
- Born 1967
- era
- 1991 to 2010
- $6 billion
- Novelis deal value including debt (about) · 2007
- 26
- Acquisitions in 17 years · 2014
- $40 billion
- Group size (about) · 2014
The story
Kumar Mangalam Birla became chairman of the group in 1995, at 28, after the sudden death of his father, Aditya Vikram Birla. The companies then had over Rs 8,000 crore in revenue, 55 plants and 75,000 employees.
In 1996 he brought all the companies under one name, the Aditya Birla Group. In 2002 he sold the group's oil refining stake to ONGC, and in 2004 Grasim took control of the cement company UltraTech from Larsen & Toubro.
In February 2007 Hindalco agreed to buy Novelis of Atlanta for about $6 billion including debt, making Hindalco the world's largest aluminium rolling company. By about 2014 the group had made 26 acquisitions in 17 years and was a $40 billion group operating in 36 countries.
Timeline
- 1995Becomes group chairman at 28.
- 1996Brings all companies under the Aditya Birla Group name.
- 2002Sells the oil refining stake to ONGC.
- 2004Grasim takes control of UltraTech from L&T.
- 2007Hindalco agrees to buy Novelis for about $6 billion including debt.