The businessman who dreamt big

Dhirajlal Hirachand Ambani (1933 - 2002)

He was the man who scripted one of the greatest rags to riches story of the 20th century in India. In less than three decades, Dhirubhai, as he was fondly called by his investors, created a business empire that comparable to the Tata's and Birla's. If there was one single theme to Mr Ambani's mega-success, it was dreaming big. Whatever he did, it was always bigger in scale. Perhaps the culmination of this dream was the setting up of the world's largest refinery in Gujarat.

Dhirubhai started his career in an oil company in the Far East. He came back in 1958 to start his commodities business. In the 60s, he set up his small textile unit, which became the flagship business of the group. The next milestone for the group was achieved in 1977 when Reliance went public. That was when Dhirubhai Ambani became a public figure. The backward integration the group carried out from the textile business is unparalleled. The initiative helped Reliance grow from Rs 67 crore in 1977 to touch Rs 25,039 crore in revenues in 2002. The net profit of the group last year was Rs 3,678 crore. Today, the group has interests in petrochemicals, oil and gas, telecom, infotech, power and financials. The group contributes 3 per cent of India's gross domestic product and 5 per cent of the country's exports.

Dhirubhai was also credited with rewriting the definition of promoter-investor relations. Reliance today has over 15 million retail investors. The near total following he enjoyed among this group could be witnessed at the annual shareholders meet. The 'dream big' attitude of Mr Ambani also forced him to court controversies time and again. His proximity to leaders of different political parties was questioned. However, Dhirubhai always managed to come out unscathed.

Although, Reliance Group’s interest in infotech business is relatively less significant, it has emerged as one of the three big private telecom players in the country. Reliance Telecom, in which the group has 26 per cent stake, has presence in 15 states with more than three lakh subscribers. It plans to invest more than Rs 25,000 crore for expansion in the coming years.

The mantle to take the Reliance Group from the present high to yet another peak now rests with Dhirubhai Ambani’s two sons — Mukesh and Anil — who have been taught all the nuances of business by their father during the last decade and a half.