Essel has created an impressive track record of value creation over 10 decades in all businesses. The group companies strive to bring the latest innovations and the best value offerings to all the consumers in a quest to deliver the best in class
Updated: May 21, 2026 12:49 PM IST
New Delhi: Essel Group completed 100 years on Thursday. On the occasion of the group’s centenary celebrations, Chairman and former Rajya Sabha member Dr. Subhash Chandra shared the story of the group’s remarkable journey. He explained how Essel Group achieved major milestones despite facing numerous challenges. Dr. Subhash Chandra narrated the story of an entire century. He said that while he had heard about the 42-year journey, he had personally been a part of the 58-year journey.
He stated that during Essel Group’s 100-year journey, one important lesson learned was that trusting people creates a chain reaction. When one person’s life improves, many others benefit as well. According to him, this is the story of Essel Group, and there are thousands of such examples within the organization.
He added that the company wants its employees to carry forward this success for the next 100 years. Employees should celebrate past achievements while simultaneously striving for new milestones. He also emphasized building a startup-like culture within the organization so that the company continues progressing 24 hours a day, seven days a week, and 365 days a year.
‘A Journey That Became a Caravan of Over 10,000 People’
Dr. Subhash Chandra said that standing there, he was addressing around 8,000 people and considered himself fortunate to have reached that stage and be able to share his thoughts and emotions. He remarked that what began as a solitary journey over 100 years had now transformed into a caravan of over 10,000 individuals. He then outlined the group’s 100-year journey in three parts:
- What were the major businesses?
- What was their economic impact?
- What were their emotional aspects?
He stated that everyone knows the impact and reach of Zee, but even Essel Group’s businesses before Zee touched millions of lives. The journey began with supplying food grains to the army. The group built storage facilities for millions of tonnes of food grains during the Green Revolution, when there was insufficient infrastructure for storing the growing agricultural output.
They also manufactured traditional telecom poles, laminated tubes, and created Essel World, which helped them connect with people. The company also exported food grains to the then Soviet Union, which became one of the group’s most profitable ventures.
Story of Family Division
He described another aspect of the journey as the story of a family from pre-independence Punjab that started its business from scratch in 1926. The company, Messrs Ram Gopal Inder Prasad, grew into a major food grain trading firm in undivided Punjab and remained successful for nearly four decades.
In 1967, the group incurred a loss of ₹3.5 lakh despite owning substantial assets and land. That was also the period when the family experienced its first division. Dr. Subhash Chandra’s grandfather separated from his brothers, and the company name was changed from Messrs Ram Gopal Inderprasad to Subhash Chandra Lakshmi Narayan.
First ₹100 Crore Revenue in 1981
Later, the next generation of four brothers took charge. The group crossed ₹100 crore in annual business for the first time in 1981.
Dr. Chandra recalled celebrating this milestone at his residence in Punjabi Bagh, Delhi. During the celebration, a colleague asked how the group would sustain this ₹100 crore achievement in the coming years. He responded by saying there was no need to worry because the group would continue discovering new opportunities, and its business would never fall below ₹100 crore.
He humorously remarked that perhaps Goddess Saraswati had blessed his words at that moment because the prediction came true. Eventually, the group reached a stage where The Wall Street Journal reportedly recognized it as one of India’s richest business groups around 1998–99.
‘The Journey Was Exciting Like a Roller Coaster’
Dr. Chandra described the journey as exciting but also similar to a roller coaster ride. Unfortunately, another separation occurred in 2008–09. The business segment he was leading later suffered major losses in 2019 because it had inherited significant financial burdens after the separation, and he admitted that he had also made some wrong decisions.
However, he said the group is once again on an upward financial trajectory and moving toward creating a new peak. He noted that the period from 1998–2000 represented a peak phase for the group, and expressed confidence that Essel would once again achieve greater heights and sustain them.
‘Vipassana Helped Me Stay Least Affected by Negativity’
Dr. Chandra said the emotional side of the journey was both interesting and challenging, filled with ups and downs, which is common in large joint families where emotions play a significant role.
He admitted that life had offered many lessons, and others would ultimately judge whether he had learned from them. However, he added that he was least affected by negativity, which he credited to Vipassana meditation. He said he always remained conscious and sympathetic toward people negatively impacted by the group’s actions.
Referring to the philosophy of “Charaiveti-Charaiveti,” he explained that it means continuously moving forward with faith, emphasizing that trust is the key element.
‘I Never Created Personal Wealth for Myself’
Dr. Chandra said he had never created personal wealth for himself, a point often debated publicly. He claimed that critics and opponents of the group had tried to damage his reputation in the corporate world by making allegations of weak corporate governance.
However, he said it was touching that many of these same individuals privately acknowledged the group’s resilience, ability to fight back, vision, and long-lasting impact.
‘Read Materials About the Group’s Journey’
Concluding his address, he said he had narrated a 100-year story in only a few minutes and encouraged employees to read materials related to the group’s history. He said the ups and downs over the past century offer valuable lessons.
He emphasized that one of the biggest lessons from this journey is understanding the importance of people. When opportunity and trust are combined with compassion, they create a chain reaction. One uplifted life can uplift many others. According to him, success reaches its highest point when it creates a better future for someone else.
