The Story of a School Drop-out who Draws 21 Crores as Salary

February 01, 2017   Dharampal Gulati , Dharampal Gulati CEO , Dharampal Gulati MDH , Dharampal Gulati MDH CEO , MDH , MDH Dharampal Gulati

It is quite surprising to know that FMGC sector’s highest paid CEO is a school dropout and moreover he is ninety-four years old. This man is none other than Dharampal Gulati, the energetic old man with a turban on his head promoting MDH, the famous masala brand on television advertisements and also on each of the packs of the masala.

HE IS MERELY JUST FIFTH GRADE QUALIFIED AFTER DROPPING OUT OF SCHOOL

He is merely just fifth grade qualified after dropping out of school at that time. It is of an extreme surprise that he took home more than twenty-one crores in the last financial year which is higher than that of Adi Godrej and Vivek Gambhir of Godrej Group, ITC’s YC Deveshwar and Sanjiv Mehta of Hindustan Unilever Group. Gulati’s company Mahashian Di Hatti more popularly known as MDH has put forward their revenues as 924 crores which include 15% increase in a net profit of around 213 crores which includes 24% increase.

GULATI WHO IS BETTER KNOWN AS DADAJI OR MAHASHAYJI

Gulati who is better known as Dadaji or Mahashayji who makes a routine visit to the factories, markets, and dealers without fail until he is satisfied with the overall process of the company where he is the stake owner of eighty percent. His motto has always been sincere work, quality product, and affordable prices. He also mentioned that around ninety percent of his salary goes to a charity that runs around twenty schools and a hospital.

GULATI’S FATHER CHUNI LAL STARTED THE SMALL BUSINESS IN PAKISTAN IN 1919

Gulati’s father Chuni Lal started the small business in Pakistan in 1919 and after the partition of India; Gulati continued the small business in the shop at Karol Bagh in Delhi which currently stands at a gigantic 1500 crores with around 15 factories in India that supply to more than 1000 dealers. MDH has offices in London and Dubai and exports masala to around 100 countries around the world. Gulati has been associated with the business for around 60 years now. His son is the manager of the overall operations, and his six daughters are in charge of the region wise distribution.

GULATI’S MDH IS HOLDING AROUND 12 PER CENT OF MARKET SHARE

MDH attributes its success to its supply chain ranging from contract farming and sourcing spices from Rajasthan and Karnataka to Afghanistan and Iran. As per the current market scenario of masala business, the Everest brand owned by S Narendrakumar is the market leader with 13 percent market share which is followed by Gulati’s MDH holding around 12 per cent of market share.