Meet the individual who, alongside Bollywood icon Amitabh Bachchan and his family, transformed a struggling company into a colossal enterprise worth Rs 28,000 crore. Premchand Godha, originally a Chartered Accountant who once managed accounts for Amitabh Bachchan, became a business partner with the Bachchan family in 1975.
Together, they acquired a pharmaceutical company, Ipca Laboratories, founded by an Englishman in 1949. Ipca Laboratories has since evolved into a leading pharma manufacturer with an impressive market capitalization.
Premchand Godha, hailing from a family of farmers in Rajasthan, has ascended to become one of India’s wealthiest individuals.
As the current chairman of Ipca Labs, a company with a revenue of $711 million, Godha oversees the manufacturing of bulk drugs, drug intermediates, and drug formulations. Ipca Labs is recognized for its contributions in the fields of diabetes, anti-malarial, pain management, and cardiovascular treatments.
Godha, a commerce graduate from the University of Rajasthan and a certified Chartered Accountant from the Institute of Chartered Accountants of India, initially served as a CA for Amitabh Bachchan. The collaboration with the Bachchan family, including Jaya Bachchan, led to the acquisition of Ipca.
During the 1990s, Amitabh Bachchan’s brother, Ajitabh Bachchan, assumed the role of chairperson in Godha’s company. However, financial challenges faced by the Bachchan family in 1999 prompted them to sell their stake in the company, concluding their association with Ipca.
Under Godha’s leadership, Ipca has witnessed a remarkable financial transformation, with turnover soaring from a modest Rs 54 lakh to an astounding Rs 4,422 crore. At 71 years old, Premchand Godha is now a billionaire with a net worth exceeding Rs 10,800 crore ($1.3 billion).
