Ande Prathap Reddy, a self-proclaimed risk-taker, acknowledges that his success stems from making more correct decisions than wrong ones. Growing up in close proximity to poverty, he undertook a daily 10-kilometre journey to school. This experience fueled his determination to become a self-made entrepreneur, motivating him to confront challenges head-on and embrace risks.
Presently, Reddy stands as a triumphant industrialist, overseeing a total of 12 chemical plants and leading the Rs 7,416 crore market cap company, Balaji Amines. Maintaining his stance as a risk-taker, he firmly believes that it is a crucial element in constructing a sustainable and growth-oriented business. In a recent statement to Business Today, the esteemed business magnate expressed this perspective.
Entering the business world as a 25-year-old visionary, Prathap Reddy embarked on his journey with a loan of Rs 25,000 from a bank over four decades ago. Initially, he established a series of thriving small businesses before making the bold decision to aim for larger ventures after a decade. Consequently, in 1988, he ventured into the realm of ‘specialty chemicals’ with a significant investment of Rs 3 crore.
Reddy disrupted the industry by challenging the reliance on foreign technology. Leveraging local amine technology, he emerged as a formidable competitor with products priced at a quarter of the market rate. Today, his company holds the dominant position as the largest methylamine manufacturer in India, commanding a market share of over 60%, according to BT. In the fiscal year 2022, Balaji Amines reported a revenue of Rs 2,300 crore. At the age of 72, Reddy attributes his success to his risk-taking mindset and agile approach.