Monoranjan Roy’s life view is simple – he believes that if one’s mind can conceive something, the heart can believe it, then one can certainly accomplish it – his life being a mute testimonial of his belief. However, he is equally quick to add that to court success, one has to be single minded in devotion, unwavering in resolve and pursue one’s dreams with a stoic determination – every facet of which can be witnessed in minute details in the gravity defying rise of the protagonist.
Monoranjan Roy started early, even as he was engaged in academics, fired by the ambition to strike it big, to make success synonymous with his name. Naturally, for a first-generation entrepreneur without the so-called family riches to draw upon, things were extremely difficult and it was his sheer grit that helped him traverse through those early years. Remember, in those days, when the young Monoranjan Roy was taking his first faltering steps into the world of industry and commerce, the very term “start-up” was yet to be coined, “venture capital” was conspicuous in its absence and raising resources was a task in itself. The economy was one that was highly regulated and tapping the public’s money to fund private initiatives was a domain to which only a very few had access. Having a bright idea, with the willingness to take it to fruition was certainly not enough to attract backers, leave alone be the passport to the chosen destination of achievement. It was in times like these, braving all the odds of an anachronistic system that was used to stifling growth pangs as opposed to feeding them and banking upon the little capital that was painfully put together, that Monoranjan Roy had started his journey – like they say, from the scratch. Being an entrepreneur isn’t easy. Being a first generation one even more difficult. Being one in an economic environment that is hostile to put things mildly, is perhaps the most difficult. And this is precisely what makes Monoranjan Roy’s ascent to the zenith all the more exciting, even laudable.
Today Monoranjan Roy is the Chairman and the Managing Director of the INR 9876 Million PSL Group of companies. Limited and listed (BSE, NSE & CSE), the flagship of the group, Pincon Spirit Limited (PSL) is being hailed in the analyst circles as a growth play that is yet to witness the fireworks its fundamentals deserve and is being actively pursued for obvious reasons. The entity has five distinct revenue streams, carefully crafted multipliers, each contributing to the success story – once an audacious dream, that is now a reality. What is more, these diverse business lines provide the entity with a cushion – making it virtually recession proof – and is reason why the Pincon spirit is hailed as a bellwether.
In Alcoholic beverages, Pincon is an undisputed leader of all it surveys. It is the largest manufacturer of country liquor (Indian made Indian Liquor, IMIL), where it enjoys some terrific synergies, apart from the fact that the segment is one that is witnessing a brisk annually compounded growth. Pincon literally has all the aces in the segment and is widely credited for measures that are aimed at its ensuring the continued growth and well-being – weaning tipplers away from the unorganised, illicitly brewed spirits with obvious health benefits to the imbibers and in the process contributing progressively higher amounts as excise duties to the Government’s coffers. Even if one were to overlook the non-monetised benefits of such a move of attracting drinkers to the folds of revenue paid, quality assured spirits, Pincon’s contribution is one that is priceless.
In the IMFL (Indian made Foreign Liquor) segment too, Pincon is fast curving out a distinct niche for itself. Its brands, spread across the IMFL horizon and aimed at specific market segments have already been well established, and well accepted by the consumers. They are witnessing increasing market shares with proportionately higher contributions to the bottom line and are in a constant state of growth.Another point that needs to be mentioned here is that Pincon has, over the years painstakingly built up a manufacturing and distribution system that ensures an enviable penetration level which, adds to its efficiencies.
Pincon is already a household name in the world of edible oils, where its products, thanks in equal measure to their quality and some deft advertising, has become almost generic. Sceptics allege that the edible oil business of Pincon is but a façade for the alcoholic lines, acting as surrogates. Even if that were to be true, the act of using surrogate advertising – a widely used practise in the liquor trade – to push a real line of products, edible oil in this case, is nothing less than a masterstroke, even for which, Pincon in general and Monoranjan Roy in particular, can claim full credits.
Pincon has crafted equally successful stories in the fields of real-estate development and the life style segment, where too, it has moved in with determination, dug itself in and is now ready to build the super structures of success that only it can dare to dream about. At the most basic levels, the strength of the Pincon brand – which is well established and has a huge recall within the general audience – is expected to have a more than proportionate rub-off on any activity that the group may contemplate in the fields, both being closely aligned to the areas where Pincon already has a larger than life presence. Besides, being lines that too are extremely profitable, both real estate development and life styles are expected to add to the core revenue streams as opposed to being drains.
However, the real deal, if one were to go by Monoranjan Roy, is Pincon’s measured forays into the world of education. Business analysts are quick to point out the facts that education as a business line is not only recession proof, but is also one where the demand is on a perpetual rise. They also allude to the fact that India is perhaps the one country where the population is increasingly becoming younger, which will naturally add to the need for entities that can provide quality educational services at multiple price points. The conscious move of the Nation to reinvent herself as a knowledge economy will also create in its wake unthinkable opportunities in the field of education.
Monoranjan Roy is not swayed by these arguments. His reason for venturing into the field being much more basic, driven as it is, more from the heart than the mind. He is painfully aware of the hardships that he had to face that were primarily brought about by the inaccessibility into the hallowed portals of knowledge. The lack of a key – in the form of a degree or certificate from a leader –incapacitating him, making him frustrate over his inability to open the doors through which entry was, otherwise, rightfully his and his alone. Now that he has nothing else to prove to the world, he wants to give back something to the society from which he has drawn his sustenance, a kind of a social responsibility initiative by a responsible corporate citizen. And, Monoranjan Roy not only knows the value of education, but also wants to do his bit to ensure that budding entrepreneurs are not held back for the lack of it. What he could not access when he was struggling against odds that were apparently insurmountable, is exactly what he wants to provide for the winners of tomorrow. That the chosen line, however the lofty the idea behind it may be, is one that will be extremely profitable in terms of pure financials, is a coincidence. Another one of those “lucky” coincidences that seem to play out for Pincon in regular, almost monotonous intervals.
Fortune, certainly favours the brave