Anil Agarwal & family

Anil Agarwal & family: Career Highlights

In the mid-1970s, Agarwal began trading in scrap metal, collecting it from cable companies and selling it in Mumbai. In 1976, he acquired Shamsher Sterling Corporation, a manufacturer of enameled copper, with the help of a bank loan. Agarwal ran both his scrap metal business and Shamsher Sterling Corporation for the next 10 years. In 1986, he established a factory to manufacture jelly-filled cables, leading to the creation of Sterlite Industries.

Agarwal realized that the profitability of his business was heavily influenced by the fluctuating prices of raw materials. To gain control over input costs, he decided to manufacture the metals instead of buying them. In 1993, Sterlite Industries became the first private sector company in India to set up a copper smelter and refinery.

Agarwal's business ventures continued to expand. In 1995, he acquired Madras Aluminium, a 'sick' company that had been shut down for four years and was held by the Board for Industrial and Financial Reconstruction (BIFR). In 2001, he acquired a 51% stake in Bharat Aluminium Company (BALCO) for INR 551.50 crore, which was a public sector undertaking. The following year, Agarwal acquired a majority stake (nearly 65%) in the state-run HZL (Hindustan Zinc Limited).

In 2003, Agarwal incorporated Vedanta Resources Plc in London to access international capital markets.

This move marked a significant step in the company's global expansion. The following year, Vedanta Resources Plc announced a global bond offering and acquired Konkola Copper Mines in Zambia, Africa. In 2007, Agarwal acquired a controlling stake in Sesa Goa Limited, India's largest producer-exporter of iron ore.

Agarwal's acquisition spree continued in the following years. In 2010, he acquired South African miner Anglo American's portfolio of zinc assets in Namibia, Ireland, and South Africa. In 2011, he acquired a controlling stake in Cairn India, India's largest private sector oil-producing firm. In 2012, Agarwal announced the merger of Sesa Goa and Sterlite Industries as part of the Vedanta Group's consolidation.

Today, Vedanta Resources, headquartered in London, is a globally diversified natural resources conglomerate with interests in zinc, lead, silver, copper, iron ore, aluminum, power generation, and oil and gas. Agarwal, the driving force behind Vedanta's success, resides in London.