20-05-2025
Heir & Now: Gujarat's gen next means business
AHMEDABAD: From conservative corner offices to cloudbased dashboards, Gujarat's new generation of business leaders is redrawing the contours of legacy enterprises — one datadriven bet, one strategic fulcrum at a time.
Succession is no longer a mere hand-medown of the corner office; it's a recalibration of purpose, structure and vision.
Armed with global degrees,
digital
acumen and a mindset geared for scale, the nextgen scions of Gujarat's conglomerates are not just protecting the family silver — they're F recasting it for a future defined by clean energy, professional governance and long-term value.
At home in both the boardroom and the balance sheet, they're leading diversification moves into new territories — from renewables and healthcare to recycled materials and creating high-value brands, strengthening their legacy, one adventure at a time.
Across Gujarat's top corporate houses — from pharma and textiles to frozen foods and pigments — this generational handover comes with a difference; it's not just about keeping the legacy intact. It's about using it as a launchpad for greater value creation.
Chiripal group: From textiles to tech-driven transformation
At the Chiripal Group,
Ronak
Chiripal is among the younger torchbearers leading this charge. Having joined the business in 2014, Ronak didn't just inherit a title — he carved out a new direction.
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From setting up the group's home textiles vertical in 2016 to launching renewable energy ventures in 2022, he's bet big on scaling up, diversification and building a professionally compliant corporate.
'Earlier, decisions were more instinctive. Now we're intensely focused on data mining, analytical thinking and aligning with national priorities like sustainability and clean energy and diversifying our business verticals accordingly,' says Ronak, promoter of the Chiripal Group.
A generational shift is visible not just in what the group does, but how it does it.
Professional CEOs now head key businesses — Nandan Terry, Chiripal Poly Films Limited (CPFL), and Grew Energy — with clear mandates and operational freedom. The once family-heavy governance model is being overhauled, with independent directors and structured decision-making frameworks gaining precedence.
The group's new initiatives reflect this strategic shift — investments in recycled PET plants, growing presence in solar and ethanol and a sharper focus on value creation over top-line growth.
'Value today is about brand, governance and customer quality — not just numbers,' Ronak adds.
Wagh Bakri Group gets professional makeover for new-age growth in new-age markets
Ahmedabad based tea brand Wagh Bakri Group has recently taken a significant step towards new age growth. Fifth generation of the promoter
Desai
family has entered the business and last year August, the company appointed a CEO to handle the company operations.
'We have a history of more than 125 years and we have always focused on ensuring quality products for our customers and the company will continue doing it under professional leadership.
The family will take the back seat and we are focusing on long term vision and goals,' said Paras Desai, director of the company.
Sanjay Singal, CEO of the company said, 'The brand is well-known across the country and in the western India, our market share is around 45%.
We have a legacy brand so we want to go for better growth in coming years. We want to take initiatives which will ensure that the new generation of the customers continue to love the brand. We have started offering innovative tea varieties and we have also seen our exports doubling in the last five years.
Digital marketing and e-commerce are key in modern business.'
Vadilal group: Reuniting the family, recasting the future
In what was once a classic case of a family feud-turned-corporate standoff, the fourth generation Vadilal Industries has recently flipped the narrative.
The Gandhi family has signed a memorandum of family arrangement, consolidated brand ownership under the listed entity and handed operational reins to professionals — with plans to build 'India's first global ice cream MNC'.
It's a shift not just of strategy, but of mindset — family members are moving to oversight roles, supported by a new CEO and an independent board including veterans from Nykaa, PepsiCo and Mother Dairy.
In what was once a classic case of a family feud-turned-corporate standoff, the fourth generation Vadilal Industries has recently flipped the narrative. The Gandhi family has signed a memorandum of family arrangement, consolidated brand ownership under the listed entity and handed operational reins to professionals — with plans to build 'India's first global ice cream MNC'.
Meghmani group: New gen ensures faster growth with expansion
Ahmedabad's Meghmani Group, a prominent maker of dyes, intermediates and agro chemicals, has witnessed accelerated growth since its next generation of leadership assumed control.
The company, traditionally led by Jayanti Patel, Natvar Patel, Ramesh Patel and others, has evolved under its new leadership.
Under
Maulik Patel
, CMD of Epigral Ltd (formerly Meghmani Finechem Ltd) and
Ankit Patel
, CMD of Meghmani Organics Ltd (MOL), the company has implemented strategic initiatives. Maulik Patel said, 'We commissioned India's first Epichlorohydrin plant based on 100% renewable resources and set up India's largest CPVC plant.'
'I took over as CMD, MOL, last year. We are focused on crop protection and crop nutrition and TTM dioxide,' said Ankit Patel.
Kiri industries: New vision, bigger dreams
Ahmedabad-based dyes and intermediate chemicals manufacturer Kiri Industries Ltd is embarking on new ventures with the next generation joining the organisation. Following his chemical engineering studies at Michigan University, Hemil Kiri, the son of CMD
Manish Kiri
, has recently come aboard.
'I have joined the company as a project engineer for our new project of copper smelting. My grandfather had founded the company, and my father took it to international level, and now I want to make the group a leader with technological advancements. Apart from copper smelting, I will also focus on improving technology in chemical manufacturing with highest focus on environment conservation,' said Hemil.
Manish Kiri (top) and Hemil Kiri
Monarch networth: New generation expanding reach
Ahmedabad-based Monarch Networth Capital Ltd (MNCL) has primarily been known as a stock broking company.
However, promoter brothers Himanshu Shah and Vaibhav Shah have been focused on expanding the business. In the past couple of years, two daughters and one son from the promoter family have joined the company, bringing in a new vision that has fuelled its growth.
Anushree Shah, who completed her master's in Financial Management from Warwick Business School, is working on launching a fund from GIFT City, aimed at making it easier for NRIs and foreign nationals to invest in India.
Kavish
Shah, who holds a master's in Management from Queen Mary University, London, has joined Diamond Power Ltd. He currently serves as Vice President – Corporate Strategy, overseeing procurement and marketing. The company was acquired through the NCLT process, and Kavish has leveraged data, technology, and smart systems to help it cross a turnover of ₹1,000 crore in under a year and a half.
Vrushali Shah, who earned her master's in Management from City, University of London, has been driving the digital transformation of the family business to ensure it stays ahead in technology optimisation.
