Last Updated on October 18, 2023 by BFSLTeam BFSLTeam
As one of the country’s premier business conglomerates, Hinduja Group has a vast presence that stretches across multiple continents and industries. From banking with Indusind Bank to the robust automotive giant Ashok Leyland, and from the digital solutions offered by Hinduja Global Solutions to the media outreach with NXTDIGITAL, the group showcases a diverse and distinguished portfolio. Established on principles of trust, adaptability, and entrepreneurial approach, the journey of the Hinduja Group from a singular trading venture in Iran to its current global business empire speaks volumes about its visionary approach. What sets this group apart is its ability to foresee market trends, dedication to community welfare, and a rich legacy.
In this blog, we’ll take a close look at the Hinduja Group’s journey, its guiding principles, significant achievements, and its significant role in shaping India’s business narrative.
Table of Content
About Hinduja Group
| Attribute | Details |
| Founder | Parmanand Deepchand Hinduja |
| Industry Type | Diversified (Spanning sectors such as Banking, Media, Healthcare, and more) |
| Year Founded | 1919 |
| Headquarters | Mumbai |
| Key People | Gopichand Hinduja, Prakash Hinduja, Ashok Hinduja |
| Employee Strength | Over 2,00,000 employees |
| Global Presence | Over 60 countries |
Overview of Hinduja Group
Tracing its roots back to Shikarpur in undivided India, the Hinduja Group was the brainchild of the ambitious and visionary Parmanand Deepchand Hinduja. His entrepreneurial spirit led him to establish the group’s first international foothold in Iran in 1919, focusing primarily on Merchant Banking and Trade.
Iran, rich in opportunities and challenges, saw the Hinduja Group grow under its favourable business environment. For sixty years, until 1979, the group proudly called Iran its home base, cementing its reputation for trustworthiness and resilience. However, as global economic landscapes shifted, Europe emerged as the new hub for business. Recognising this, the Hinduja Group strategically relocated its headquarters to Europe.
This move to Europe was also a turning point in the group’s journey. No longer just a trading entity, the Hinduja Group began branching out into a variety of sectors. These ranged from Digital Technology and Mobility to sectors like Media, Entertainment & Communications, Infrastructure Project Development, Lubricants & Specialty Chemicals, Energy, Real Estate, and Healthcare. Their diverse portfolio showcased the group’s adaptability and forward-thinking approach.
Leadership, of course, played a crucial role in the group’s success. Originally led by the seasoned Ex-Chairman, Srichand Hinduja, the group’s reins were later handed over to Chairman, Gopichand Hinduja. With unwavering support from his brothers, Prakash and Ashok Hinduja, the group has sustained its growth, ensuring that Parmanand Deepchand Hinduja’s legacy continues to thrive in the ever-evolving business world.
The success of the Hinduja Group is also because of the people who led it. At first, the group was led by a very experienced man, Srichand Hinduja. After him, the responsibility was taken over by Gopichand Hinduja with support from his brothers, Prakash and Ashok Hinduja. Together they made sure that the dream of Parmanand Deepchand Hinduja lived on. Today, the Hinduja Group is known all over the world. They have kept the legacy of their founder alive by doing good business and adapting to new changes.
Hinduja Group History
1919: Parmanand Deepchand Hinduja started the Hinduja Group in the town of Shikarpur. That same year, highlighting their global ambitions, they set up an office in Iran.
1920s-1930s: With their base primarily in Iran, the group rapidly expanded in Merchant Banking and Trade, laying a solid foundation for its future global expansions.
1948: This year marked a significant expansion for the group, with the establishment of Ashok Leyland Ltd, venturing into the Trucks & Buses industry.
1961: The group’s vision for diversification led to the creation of GOCL Corp Ltd, strengthening their foothold in the Commodity Chemicals sector.
1973: Hinduja Group further widened its horizons by introducing Hinduja Global Solutions Ltd, catering to the Outsourced Services industry.
1979: With the changing political dynamics in Iran, the group strategically relocated its headquarters to Europe.
1985: Stepping into the world of media, the group established NXTDIGITAL.
1994: Enhancing its presence in the banking domain, the group inaugurated Indusind Bank Ltd.
2008: Gulf Oil Lubricants India Ltd was founded, initially known as Hinduja Infrastructure Limited, adding another layer to the group’s diversified interests.
2015: The Hinduja brothers were awarded the esteemed Business Leader of the Year at The Asian Awards.
2017: Ashok Hinduja’s relentless efforts were acknowledged with the ABLF Global Asian Award at the Asian Business Leadership Forum, a distinction endorsed by the UAE Government.
2019: Showcasing their pioneering spirit in media, OneOTT Intertainment Limited (OIL) from the Hinduja Group was honoured with the 2019 Innovation Leaders award by Telecomlead.com.
2023: Gopichand Hinduja, aged 83, assumed the role of Chairman of the Hinduja Group following the recent passing of his brother, Srichand P Hinduja.
Major Subsidiaries of Hinduja Group
| S. No. | Name | Sector | Market Cap (in Crores) | Year Founded |
| 1 | Indusind Bank Ltd | Banking & Financial Services | ₹ 1,11,006 | 1994 |
| 2 | Ashok Leyland Ltd | Trucks & Buses | ₹ 50,413 | 1948 |
| 3 | Hinduja Global Solutions Ltd | Outsourced services | ₹ 4,584 | 1973 |
| 4 | Gulf Oil Lubricants India Ltd | Commodity Chemicals | ₹ 2,579 | 2008 (was incorporated as Hinduja Infrastructure Limited) |
| 5 | GOCL Corp Ltd | Commodity Chemicals | ₹ 2,520 | 1961 |
| 6 | NXTDIGITAL | Media | N.A. | 1985 |
Indusind Bank Ltd:
Established in 1994, IndusInd Bank has emerged as a dominant force in the Banking & Financial Services sector, with a market capitalisation of ₹ 1,11,006 Crores. Over the years, the bank has consistently been at the forefront of innovation and customer service, with initiatives such as video banking, highlighting the Hinduja Group’s commitment to excellence in the financial sector.
Ashok Leyland Ltd:
Since its inception in 1948, Ashok Leyland has become synonymous with commercial vehicles, especially in the Trucks & Buses segment. With an impressive market capitalisation of ₹ 50,413 Crores, this subsidiary of the Hinduja Group has a vast presence in several countries. The company’s forward-thinking approach, visible in its move towards electric buses, signifies its commitment to environment-friendly and advanced transport systems.
Hinduja Global Solutions Ltd:
With its foundation laid in 1973, Hinduja Global Solutions (HGS) is an innovator in the Outsourced Services sector. Today, with a market cap of ₹ 4,584 Crores, HGS spans seven countries and continues to deliver exceptional customer service solutions, reflecting the group’s vision for global connectivity and client-centricity.
Gulf Oil Lubricants India Ltd:
Initially incorporated as Hinduja Infrastructure Limited in 2008, Gulf Oil has since become a popular name in the Commodity Chemicals sector. With a notable market cap of ₹ 2,579 Crores, Gulf Oil’s legacy is enriched by its innovative lubricants and speciality chemical products. Partnerships with leading automotive companies further highlight its esteemed standing in the industry.
GOCL Corp Ltd:
Since 1961, GOCL Corp has diversified its portfolio from an initial collaboration with the Gulf Oil Corporation, USA. With a market capitalisation of ₹ 2,520 Crores, it now encompasses sectors ranging from speciality chemicals to mining services, symbolising the Hinduja Group’s aptitude for diversification and innovation.
NXTDIGITAL:
In the media sector since 1985, NXTDIGITAL aims to revolutionise the digital landscape of India. Its objective to bridge the nation’s digital divide is evident. Ensuring seamless content delivery across India, NXTDIGITAL demonstrates the Hinduja Group’s commitment to technological evolution and inclusive entertainment.
Major Acquisitions (or Joint Ventures) by Hinduja Group
Acquisition of TekLink International, Inc. by HGS
Value: Approximately $58.8 million, subject to earnouts and standard adjustments.
About TekLink: A comprehensive financial planning and analytics service provider offering services from design to application management.
Benefits to HGS:
- Strengthening its digital solutions domain.
- Enhanced expertise in data platforms, analytics, and financial planning.
- Addition of 275 experienced technology and implementation professionals to HGS.
Letter of Intent to Acquire uKnowva by HGS
Platform: A cloud-based SaaS offering user-friendly HRMS solutions.
About uKnowva:
- Belongs to Convergence IT Services.
- Serves as intelligent software for human capital management, automation, and collaboration. Primarily caters to midsize and growing companies.
uKnowva’s Footprint:
- Employs over 75 professionals in India.
- Supports over 300,000 users from more than 80 clients.
Strategic Benefits for HGS:
- Creation of technological synergies with HGS’s existing HR-centric operations.
- Enhanced services for a wide clientele base in India and the Middle East.
Acquisition of Houghton
In December 2012, the Group made a strategic move by acquiring Houghton, a prominent force in the metalworking fluid industry. This acquisition didn’t mark the end of Houghton’s evolution, as it was subsequently merged with Quaker to birth the now NYSE-listed entity, Quaker-Houghton. Their products include a diverse range from automotive to marine and industrial sectors, grace over 100 countries. With an infrastructure comprising over 20 manufacturing plants and 50 dedicated R&D centres, they boast a portfolio of more than 500 products. Significantly, the Group holds pride of place as the largest shareholder in Quaker-Houghton, further cementing its influence and stake in this industry powerhouse.
Products/Brands Under Hinduja Group
Indusind Bank Ltd
IndusInd Bank offers a comprehensive suite of financial products and services, including:
- Savings Accounts: IndusInd Bank’s savings accounts provide a secure and convenient way for customers to manage their finances.
- Credit Cards: The bank offers a variety of credit cards tailored to different needs, from travel rewards to cashback.
- Personal Loans: IndusInd Bank provides personal loans to meet various financial requirements.
- Corporate Banking Solutions: The bank caters to the banking needs of businesses, offering corporate accounts and tailored financial services.
Also Read: IndusInd Bank Ltd. – All You Need To Know
Ashok Leyland Ltd
Ashok Leyland manufactures a range of commercial vehicles, including:
- Trucks: Ashok Leyland trucks are known for their reliability and efficiency, catering to the logistics and transportation industry.
- Buses: The brand produces buses for public transportation, schools, and luxury travel, meeting diverse passenger transport needs.
Hinduja Global Solutions Ltd
Hinduja Global Solutions (HGS) specialises in providing a wide array of outsourced services, such as:
- Customer Support: HGS delivers exceptional customer support services to clients across industries.
- Technical Assistance: The company offers technical support solutions, addressing the unique challenges of technology-related businesses.
- Back-Office Solutions: HGS’s back-office services streamline essential business processes for increased efficiency.
Gulf Oil Lubricants India Ltd
Gulf Oil Lubricants India Ltd manufactures and distributes a variety of lubricants, including:
- Automotive Lubricants: Gulf Oil’s automotive lubricants are designed to enhance engine performance and extend the life of vehicles.
- Industrial Lubricants: The company offers lubricants for industrial machinery, ensuring smooth operations and reduced wear and tear.
GOCL Corp Ltd
GOCL Corp Ltd specialises in the production and distribution of explosives and related accessories used in various sectors, including:
- Mining: GOCL’s explosives are critical for safe and efficient mining operations.
- Infrastructure Development: The company’s products play a pivotal role in construction and infrastructure development projects.
- Defence: GOCL provides essential products for defence applications, contributing to national security.
NXTDIGITAL
NXTDIGITAL offers a range of digital television services, including:
- Digital Cable TV: NXTDIGITAL provides high-definition cable television with a diverse channel lineup.
- Satellite Broadcasting: The company offers satellite-based broadcasting services for a superior viewing experience.
Conclusion
The Hinduja Group’s journey from its origins to global prominence is a symbol of dedication and innovation. Under the leadership of Chairman Gopichand Hinduja, supported by his brothers, Prakash and Ashok Hinduja, the Group has consistently embraced change and thrived. The Hinduja Group’s success is not just India’s pride; it symbolises global influence. In our ever-changing world, this conglomerate’s success story reminds us that with determination, dreams can be transformed into reality. In this timeless legacy, the Hinduja Group continues to write new chapters of achievement, securing its place in the history of business excellence.
