Sandeep Engineer
Sandeep Engineer (born 11 May 1961) is an Indian billionaire industrialist based in Ahmedabad, Gujarat. A chemical engineer by profession, he is the founder and managing director of Astral Limited, a Fortune 500 India company.[4] As of September 2021, his net worth is estimated at US$2.9 billion.[5]
Sandeep Engineer | |
|---|---|
| File:Sandeep Engineer .jpg | |
| Born | 11 May 1961[1][2] |
| Occupation | Managing Director, Astral Limited [3] Managing Director, Resinova Chemie Limited |
| Known for | Founder, Astral Limited |
| Spouse(s) | Jagruti Sandeep Engineer |
| Children | 2 |
Early lifeEdit
Sandeep Engineer was born on 11 May 1961 to Pravin Chandra and Hansaben Engineer in Ahmedabad, Gujarat.[5] After doing his schooling at Udgam School, Ahmedabad, he then earned a bachelor's degree in chemical engineering.[5] from Lalbhai Dalpatbhai College of Engineering.[6]
CareerEdit
He started as a project engineer with Cadila Pharmaceuticals.[7] [2] Then, his first entrepreneurial stint was as a distributor of flavoured Isabgol, a home remedy for constipation, across Ahmedabad. The venture shut down in a couple of years, leaving him with losses.
In 1987, he started Shree Chemical to manufacture pharmaceutical intermediates.[8] Sandeep later established Kairav Chemicals Pvt Ltd to start pharmaceutical bulk drugs at Santej, near Ahmedabad in 1992.[9]
Engineer had a particular interest in polymers right from his college days. After eight years of business in pharmaceutical bulk drugs, he decided to venture into polymer processing.[10] He came in contact with B.F. Goodrich, a US Fortune 500 company (now Lubrizol), pioneers in patented chlorinated polyvinyl chloride [CPVC] polymers used in piping industries.[11] He soon approached B. F. Goodrich and tied up for the processing license for the first time in India.[12] This tie-up formed a new company named Astral Poly Technik Limited (now Astral Ltd).[13]
In 2014, Engineer diversified Astral business by entering into the adhesives and sealants market. Astral acquired an 80% controlling stake in UK-based company Seal It Services Ltd.[14][15], manufacturing a diversified range of adhesives and sealants, and also acquired Kanpur-based ResinovaChemie Ltd.[16][17]
In 2020, Engineer entered the plastic storage tanks business through the acquisition of Sarita Water Tanks,[18] an Aurangabad-based company and also started production of water tanks with the brand name Astral.[19]
Personal lifeEdit
Engineer is married to Jagruti and lives in Ahmedabad with his two sons, Kairav and Saumya.[20]
ReferencesEdit
- ↑ "Sandeep Engineer's Forbes Profile".
- ↑ 2.0 2.1 Thaker, Naini (3 April 2019). "How Astral Pipes' Sandeep Engineer became a mint-new billionaire". Forbes India. Retrieved 24 April 2019.
- ↑ "Astral Ltd". The Economic Times.
- ↑ "Fortune India 500". Fortune India.
- ↑ 5.0 5.1 5.2 "Forbes profile: Sandeep Engineer". Forbes. Retrieved 14 September 2021.
- ↑ Pandey, Piyush. "An engineer who means business". Business standard. Retrieved 14 June 2013.
- ↑ Pandey, Piyush. "An engineer who means business". Business Standard. Retrieved 14 June 2013.
- ↑ Pandey, Piyush. "An engineer who means business". Business Standard. Retrieved 14 June 2013.
- ↑ Yadav, Shekhar (11 April 2020). "The 'Astral Poly Technik' story". MyInvestmentDiary. Retrieved 11 April 2020.
- ↑ Mukherjea, Saurabh (17 August 2016). The Unusual Billionaires. Penguin UK. ISBN 978-93-86057-67-9.
- ↑ Yadav, Shekhar (11 April 2020). "The 'Astral Poly Technik' story". MyInvestmentDiary. Retrieved 11 April 2020.
- ↑ Yadav, Shekhar (11 April 2020). "The 'Astral Poly Technik' story". MyInvestmentDiary. Retrieved 11 April 2020.
- ↑ "Astral Poly Technik renamed as 'Astral Limited'; Stock tumbles 3%". IIFL Securities. Retrieved 13 April 2021.
- ↑ "Astral Poly Technik forays into adhesive manufacturing". The Hindu Business Line. Retrieved 26 August 2014.
- ↑ Vishal, Dutta. "Astral Poly Technik acquires British company Seal It Services for Rs 44 crore". The Economic Times. Retrieved 26 August 2014.
- ↑ Anuradha, Verma. "Astral Poly acquires 76% stake in adhesive maker Resinova Chemie for $34M". VCCiRCLE. Retrieved 25 November 2014.
- ↑ "Astral to acquire adhesive maker Resinova". MINT. Retrieved 21 November 2014.
- ↑ "Astral Poly Technik Rating: Add; Deal with SPPL can be very rewarding". Financial Express. Retrieved 30 November 2020.
- ↑ "Astral Poly gains on commencing production of water storage tanks". Business Standard. Retrieved 14 December 2020.
- ↑ "Don't have any acquisition plan for now: Sandeep Engineer, Astral Poly Technik". The Economic Times. Retrieved 9 July 2021.
"How Astral Pipes' Sandeep Engineer became a mint-new billionaire". Forbes India.
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