CHENNAI: More than 30 years ago, when he was making washing machines for TVS Whirlpool, K E Ranganathan went to Vaitheeswaran Koil to know from the famed palm-leaf manuscripts what his future held. He was told that porcelain will be an inseparable part of his life.
After making printers, tax invoices, pay packets and totalling bills, Ranganathan’s eye fell on a recruitment ad for a CFO at EID Parry. “Group chairman M V Subbiah appointed me in 1994 with a free hand to put controls and systems in place like in the TVS group, my earlier employer,” says Ranganathan, MD of Roca Parryware.
Son of a district judge, Ranganathan studied in schools across the state in Tamil medium and completed his chartered accountancy in 1984. “I had 25 offers including one from Taj Cochin Malabar, after being interviewed by Ajit Kelkar. But my father insisted that I join the TVS Group. Starting off at Sundaram Clayton, life was regimented.
He still follows a routine. Mornings start with a game of tennis and 15 minutes of puja before he heads to work. At 9.27am he is in office – unless he is travelling. He joined Parryware as CFO in 1994. This adrenaline junkie dabbled across functions and took up the role of leader for SAP implementation. The Murugappa Group nominated him for a Fulbright programme. Upon his return, he took up a sales role in Parryware.
In 2005, Parryware signed up with Roca for a 50:50 JV, and A Vellayyan, (former chairman of Murugappa Group) asked Ranganathan to pick him up at the airport. “I was surprised. Why would I be called to the airport to pick him up? As we got into the car, Vellayan asked me if I would take up the MD’s role in the JV,” he recalls. With the 19km drive began his innings in the corner office.
The sanitary ware company’s market share rose from single digit to 20%. “I told Vellayan that Roca could be made to buy the remaining 50% in the company at three times the value. The deal happened and the Spaniards took full control,” he says. Soon, he quit to rejoin Gopal Srinivasan, this time at TVS Capital.
Roca went through three managing directors, and its market share sank to just 1%. “I was called again to head the company and am happily back here since 2012,” he says. Since September 2016, sales revenues have doubled to ₹1,900 crore and capacity utilisation has increased from 63% to 85%. And market share went up from 30% to 36%.
“This pandemic added WFH (work from home) to our lexicon, but I have been working out of a bathroom for more than 25 years,” he says.
After the second Covid-19 wave, Roca Parryware has registered record sales every month. “Last month was our best-ever. At this rate, we will need to get a new factory ready,” he says.
Now a bit relaxed, Rangathan is getting ready for another innings. His new love for the flute is keeping him busy on weekends. “My senior is a nine-yearold girl. I learn from her as my teacher insists that I should improve my dexterity,” he says. In a year, Ranganathan hopes to be ready for an arangetram.
