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Business News›Magazines›Panache›Panache People 101›Abhay Firodia
    Abhay Firodia

    Abhay Firodia

    Chairman, Force Motors
    NationalityIndian
    LeagueBusiness Leader
    Net Worth$2.6 billion (As of May 31, 2021)
    Abhay Firodia's Assets:
    • Abhay Firodia Group

    Abhay Firodia's Journey so far ...
    • An alumnus of the prestigious Scindia School in Gwalior, Abhaykumar Firodia is the Chairman of Force Motors. His father Navalmal Firodia, a freedom fighter, industrialist and philanthropist, established the Abhay Firodia Group in 1947
    • Focused exclusively in the automotive sector, the group's flagship Force Motors was founded in 1958. Firodia joined the board of the company in 1975 and was the Managing Director till 2009. Earlier known as Bajaj Tempo, it was renamed Force Motors in 2005
    • Under his leadership, the group virtually entered all domains of automotive manufacturing namely - producing utilitarian cost-effective vehicles, providing end-to-end solutions for automotive majors in the field of high-precision aluminium castings, production of high technology tooling and aggregates, design and development of state-of-the-art seating systems
    • He guided Force Motors in launching iconic brands like the Tempo, Matador, and Traveller which became leaders in their respective segments
    • The six-decade-old company manufactures small and light CVs, multi-utility vehicles, and agricultural tractors. Some noted brands in its portfolio include Traveller Trax, Shaktiman, while the brands in tractors are Balwan, Orchard, Abhiman and Sanman
    • Firodia led the industrial house in production of critical engine and transmission auto parts for global original equipment manufacturers. Its marquee clients are BMW, Mercedes and Rolls-Royce
    • The Pune-based group boasts of excellent research and development facilities. It employs over 10,000 people in 10 plants across India and also exports its products to countries in Asia, Middle East and Africa
    • Firodia played a key role when the group's first company, Jaya Hind Industries, formed a joint venture with the French auto parts maker Montupet which manufactures and supplies aluminium cylinder heads, blocks, and other aluminium components
    • After an agreement with the promoters, he ended a long-standing row with Bajaj Auto in 2014 after hiking his stake in Force Motors. However, he still holds stakes in various Bajaj Group companies, which make up the bulk of his wealth

    Before you go ...
    • Abhay Firodia has headed various industry bodies like SIAM, Indo-German Chamber of Commerce, Automotive Component Manufacturers Association of India and Automotive Research Association of India
    • He has been bestowed with the Jain Ratna Award, and Ernst & Young – Entrepreneur of the Year Award 2016
    Last Updated: 31/05/2021

    Abhay Firodia News

    • TDP, the second-largest party in the ruling alliance with 16 MPs in the Lok Sabha, has appointed 40-year-old Lavu Sri Krishna Devarayalu, a secondterm MP, as its floor leader. Devarayalu, an educationist by profession, represented YSRCP in the previous Lok Sabha. He joined TDP before LS polls.
    • Set in Pune and the Konkan region of Maharashtra, "Munjya" follows the story of the eponymous mythical creature from the world of Indian belief and cultural system.
    • The film, which has its roots in the Marathi folklore, is reportedly set in the Maddock Films' horror comedy universe, "Stree" (2018), "Roohi" (2021), and "Bhediya" (2022). Maddock Films shared the film's opening day numbers in a post on Instagram. "This record-breaking collection for a film with no A-list actors is a testament to the power of a captivating story and the brilliance of CGI technology. 'Munjya' has sprung the biggest surprise in the industry, setting the stage for a remarkable box office run," the company said in a press note.
    • Congress candidate Ujjwal Raman Singh won the Allahabad Lok Sabha seat defeating BJP candidate Neeraj Tripathi by 58,795 votes, ending the party's 40-year dry patch since actor Amitabh Bachchan's election in 1984. Singh (51), son of Samajwadi Party's stalwart leader and two-time MP from the Allahabad seat Rewati Raman Singh, has been an MLA from the Karchana seat of Prayagraj district.
    • Juma Miyagi, a hero in Kampala's slums, will lead Uganda at the ICC T20 World Cup. Despite living in poverty, Miyagi and his teammates bring hope to their struggling community. Coach Abhay Sharma acknowledged the challenges faced by the team and emphasised the need for better infrastructure and talent development to ensure Uganda's cricket future.
    • Abhay Agarwal, Founder & Fund Manager at Piper Serica, discusses market focus on earnings, growth, and India's economic potential post-event. Grasim's expansion into the paint segment and Titan's nervousness are key points. Agarwal also says he expects the Birla Group will get re-rated because of various things they are doing like the Novelis IPO which was pending for a long time, which will unlock capital for Hindalco.
    • With results day close by, bureaucrats working in central government offices are counting their last few days of ease. Having put together plans for 100 days and five years, several top bureaucrats are learnt to have used the window to go out on a short leave to take a quick breather. Reason is obvious — while results day can be uncertain, it is certain that the new government will keep them on their toes.
    • The Kurukshetra Lok Sabha seat witnesses a heated contest between BJP’s Naveen Jindal, AAP’s Sushil Gupta, and INLD’s Abhay Singh Chautala. Jindal aims to make Kurukshetra a spiritual hub, while Gupta and Chautala challenge BJP’s dominance. With a diverse electorate, including the influential Jat community, the election's outcome will reflect broader political trends in Haryana. Voting takes place on May 25, with results announced on June 4, 2024.
    • Abhay Soi, MD & CEO of Max Healthcare, discusses the impact of higher taxes on profitability, emphasizing the shift from EBITDA to free cash flow. He highlights the growth in revenues and EBITDA but a decline in net profit, attributing it to increased tax payments.
    • Max Healthcare, a leading Indian hospital chain, is assessing acquisition opportunities in tier-2 and tier-3 cities, primarily funded through internal accruals and debt. The company's chairman and managing director, Abhay Soi, believes there is great opportunity in these areas. Max Healthcare currently has a presence in Mohali, Bathinda, Dehradun, Lucknow, and Nagpur. The company is comfortable raising debt funding of up to 2.5 times the earnings before interest, tax, depreciation, and amortisation (EBITDA) if there are compelling acquisition opportunities.
    • Talking to ET after campaigning in Kaithal, Jindal who is returning to politics after a sabbatical, says he is socially connected with his people. "You give me one example where an industrialist of my size has entered electoral politics. I am doing so as my family and I have a connect with the people here. I ensured medical assistance and oxygen supply to people here," Jindal said.
    • The power ministry body, which works on improving energy efficiency of electronic products, also plans to revise the energy efficiency levels of ten existing star-rated products such as refrigerators, ceiling fans, room ACs and distribution transformers this year to push manufacturers to launch more energy-efficient products. Over the next three years, it will make energy labelling norms compulsory for products such as LPG stoves, microwave ovens and induction hobs, which are voluntary at present, said Bakre.
    • Rulka Electricals IPO will open on May 16 with a price band of Rs 223 - Rs. 235 per share, aiming to raise approximately Rs. 26.4 crore.
    • Former Rashtriya Swayamsevak Sangh 'pracharak' Abhay Jain has denied that some BJP leaders have requested him to withdraw his Indore Lok Sabha seat in Madhya Pradesh. Jain, who lost his deposit in the 2023 assembly polls, is contesting the Lok Sabha as an independent since his Janhit Party, an umbrella body of former RSS pracharaks, is yet to get recognition from the Election Commission.
    • Zee Media Corporation Ltd announced the termination of its CEO Abhay Ojha, effective from May 4, 2024. The company's Board of Directors approved and confirmed Ojha's cessation of employment and his consequent removal as CEO. The reasons for his termination were not disclosed. Ojha had been promoted to CEO last year after joining Zee Media in 2022 as Chief Business Officer.
    • ​As you know we operate at 102 branches, but maximum we are gaining market share there and going forward whatever guidance we have given 35% to 40%, I think in the past also we have over-delivered. Going further, we will stick to our guidance and we are confident of achieving the given guidance.
    • The Indian National Lok Dal on Thursday released a list of three candidates for the Lok Sabha polls from Haryana, fielding party's senior leader Abhay Singh Chautala from Kurukshetra. The INLD has also fielded its women wing leader Sunaina Chautala from Hisar while from Ambala reserved constituency, the party has fielded its youth leader Gurpreet Singh, a Sikh face.
    • Abhay Agarwal says "we have recently rebalanced our model portfolio, booked some profits in small and midcaps that we have over allocated to last year at the same time and redeploying them in largecaps where we see more value now. That is the only change that we have made in the portfolio. Other than that, we do not have increased cash allocation."
    • The Congress announcement of candidature for Akola has ended the possibility of VBA joining the Opposition alliance in Maharashtra. However, Sharad Pawar has said that he would try to persuade Congress to withdraw its candidate in Akola to reach an understanding with Ambedkar. "There is still time. I will be speaking to the Congress," Pawar said.
    • Abhay Deol, known for his unconventional roles in Bollywood, recently caused a stir on social media with daring bedroom photos. The actor's risque Instagram post, featuring him in various poses and expressions, garnered immense attention and praise from fans. Alongside his bold photos, Abhay's upcoming projects, including the Netflix series 'Trial by Fire' and the film 'Bun Tikki,' continue to keep audiences eagerly anticipating his next moves.
    • Arvind Kapil is currently the group head mortgage banking business at the bank which includes home loans, loans against property (LAP) and the sales business of the erstwhile Housing Development Finance Corp (HDFC) which was merged with the bank last year.
    • INLD, led by Abhay Singh Chautala, vows to contest all 10 Lok Sabha seats in Haryana despite BJP-JJP alliance. Chautala criticizes the BJP-led government for rising issues like unemployment, price surge, and drug problems.
    • Supreme Court Judge Justice Abhay Oka urged the legal community to refrain from religious rituals like "pooja" in court premises and suggested inaugurating events by honoring the Constitution's Preamble instead. Speaking at a foundation laying ceremony for a new court building in Pune District, Justice Oka emphasized the significance of the Constitution's secular and democratic principles.
    • Indian National Lok Dal's Haryana unit president was fatally shot by unidentified assailants in Jhajjar district on Sunday, said INLD leader Abhay Chautala. Rathee, a former MLA, was in an SUV when the attackers, traveling in a car, carried out the assault in Jhajjar's Bahadurgarh town.
    • Despite being one of the largest contributors to Karnataka’s GDP, Belagavi is struggling with infrastructure issues which, according to local industrialists, are impacting its growth.
    • Load more
    DisclaimerThe content of this page has been aggregated from multiple websites. Some information can change over the passage of time.
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