Rs 8000 to Rs 25,600 crore; Story of a Tamil Nadu ice cream company founder who became a billionaire

In five decades, R G Chandramogan has grown his ice cream company to a corporation that sells full dairy products

Have you ever visited Ibaco and tasted delicious ice cream or, at the very least, icone, ibar from Arun ice cream? If you don't, you're missing out on some tasty ice cream.

R G Chandramogan, the guy behind the delicious and well-known ice cream business, is one of Tamil Nadu's and India's wealthiest people. He has climbed 68 spots in the 2021 IIFL Wealth Hurun India Rich list, from 131 to 63, with a net worth of Rs 25,600 crore. It happened because the company's stock has almost doubled in the last year, from Rs 785 to Rs 1,453.

Story behind The Dairy Giant - HAP 

Due to financial problems, Changramogan had to drop out of school. He didn't have a choice, he was compelled to make money in some way and established a tiny ice cream business with Rs 8,000 capital when he was 21 years old. The company earned an annual turnover of Rs 1,50,000 in its first year, which was used to fuel its engines. Hatsun Agro Products (HAP) was the brand name given to the company in 1986.

They soon eliminated the need for any middlemen between the farmers and the company and lowered costs by constructing a small factory that also served as a sales shop. Hatsun receives milk directly from 4,00,000 farmers in 13,000 villages every day. Hatsun Agro Product, which he chairs is publicly traded and, is now one of India's largest private dairy enterprises by sales.

Arokya and Gomatha are two milk product lines available in Tamil Nadu, Karnataka, Andhra Pradesh, and Goa. With over 1,000 exclusive parlours, Arun Ice Creams is a prominent ice cream brand in South India. Ibaco was launched seven years ago, with the intent to bring the feel of the old-school ice cream parlour model of pleasant rooms, circular tables, plastic chairs, and a freezer in the corner.

R G Chandramogan was born in Sivakasi, Tamil Nadu, who is now an inspiration to many entrepreneurs. In one of his speeches, he emphasised how fearless communication, good salesmanship, the right attitude, curiosity to learn new things, and lateral thinking helped him get to this point.