Chennai, Oct 14 Seventy four year old K.P Ramasamy, head honcho of KPR Mills Ltd completed the Forbes list of India’s 100 richest persons.
As per the Forbes list Ramasamy and family’s wealth is $2.3 billion.
According to BSE, Ramaswamy, Chairman of KPR Mills holds 21.37 per cent stake in the listed company and the company’s shares are changing hands in the Rs 750 band.
The Rs 4,739 crore turnover KPR Mills makes yarn, fabric, garment and also a sugar manufacturer. The company also has a wind energy capacity of 61.92 MW.
What is interesting about him and the KPR Mills is the encouragement given to their workers hired from the rural areas to pursue higher education including computers, management degrees, nursing, teacher training and others.
According to the company about 27,000 employees have completed higher education while employed at KPR Mills and some have quit the company and joined IT companies and others.
Tie Ups for higher education training programmes have been entered into Annamalai University, Alagappa University and Tamilnadu Open University.
Ramasamy believes that while the government's initiatives towards primary education in small villages create literacy awareness among the people and his efforts facilitates up-gradation of their literacy levels to graduation.
During the Covid-19 lockdown, when many companies resorted to downsizing, salary cuts, KPR Mills paid its workers full salary and retained them.
Post lockdown when other factories faced labour shortage, KPR Mills was humming at full steam.
Born into an agricultural family in Kalliampudur Village in Erode District, Ramasamy began as a power loom cloth maker in 1971 with Rs 8,000 borrowed capital.
Along with his brothers he expanded his business from textiles to sugar, power, automobiles and education.
Apart from exporting garments, the company also has its own mens innerwear brand Faso.
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