Quiet giant, big numbers: A Vellayan’s steady hand doubled Murugappa to ₹30,000 crore

Updated: November 18, 2025 02:51

Image Source: DT Next

Arunachalam Vellayan, the understated former chairman of the Murugappa Group, steered the conglomerate through disciplined growth—nearly doubling revenue from ₹15,907 crore in 2008–09 to ₹30,023 crore in 2016–17. His tenure blended organic expansion, savvy acquisitions, and operational rigor, cementing a legacy of humility, foresight, and performance across diverse businesses.

The unassuming architect of scale

A Vellayan, remembered for his soft-spoken style and firm stewardship, guided Murugappa through a pivotal decade, scaling revenue to over ₹30,000 crore while strengthening profitability and market value. Colleagues describe him as a “gentle but firm” leader whose strategic bets were grounded in meticulous execution and long-term thinking.

Key highlights

Revenue and profitability surge:

Revenues rose from ₹15,907 crore (2008–09) to ₹30,023 crore (2016–17); EBITDA expanded from ₹1,500 crore to ₹4,000 crore, lifting margins from 10% to 14%—reflecting both topline and efficiency gains.

Disciplined expansion:

Growth came via a mix of organic initiatives and acquisitions across Murugappa’s diversified portfolio—fertilisers, engineering, financial services—anchored by prudent capital allocation.

Retail foresight at Coromandel:

As chairman of Coromandel International, Vellayan backed a bold retail push with company-owned “My Growmor” agri stores, signaling long-term confidence in farmer-centric services and brand-led distribution.

Leadership style:

Peers lauded his humility and clarity. He preferred tennis-court strategy sessions to boardroom theatrics—calm, methodical, and results-focused, earning him respect across Tamil Nadu’s industry circles.

Succession and governance:

Vellayan served as executive chairman from 2009, retiring per group norms at 65, with emphasis on institutional processes, professional management, and continuity beyond individual tenures.

Legacy beyond the balance sheet

Vellayan’s imprint is a culture of measured risk-taking and operational discipline—quiet leadership translating to durable compounding. By marrying foresight with humility, he left Murugappa stronger and more resilient, with diversified engines and governance guardrails that outlast any single leader.

Sources: The Hindu BusinessLine, Industrial Economist, Mint

Stay Ahead – Explore Now! India’s Russian Oil Payments Now Flow in Yuan — A Geopolitical Currency Move