D_shah

[D_shah @Dipookumarmf]

@AdaniPriti Nice work by adani group.congratulations and jay jinendra priti madam

[Krishna Yadav @Control_Krishna]

Ashneer Grover has No Filter. 🔥🔥

He just tore apart the “doglapan” of both, Godi Media and the Government in a single clip. 🗿🦁💀

[Shiksha News Rajasthan @ShikshaNewsRaj1]

क्रिकेट के इतिहास में ऐसा कैच ना पहले कभी लिया गया और ना आगें आसानी से लिया जा सकता है.!!😳

ना भूतों ना भविष्यति 🔥

[D_shah @Dipookumarmf]

@R_N_Vaghani Take mediclaim

[D_shah @Dipookumarmf]

@LalitKModi So sir are you returning india or stay their only and operate?

[Iran In Hyderabad @IraninHyderabad]

If Rubio knew the history or architecture, he wouldn't have posed for a picture here. This monument was built out for the love of emperor's Iranian wife, crafted by the genius of Iranian architects — meanwhile his government today threatens to wipe out Iranian civilization, insulting other civilizations.

[D_shah @Dipookumarmf]

@sachin_rt @RahulGandhi Good to see same tshirt.

[D_shah @Dipookumarmf]

https://t.co/Ezyqt47qDz

[Chirag Barjatya @chiragbarjatya]

Javed Akhtar was so right about Indian tourism last year on lallantop interview. We can make a huge industry out of tourism

[Mohandas Pai @TVMohandasPai]

This is silly and complex. Will lead to tax terrorism. @narendramodi @PMOIndia @nsitharaman @FinMinIndia citizens are becoming victims of bad policy which will make them hostages to rent seeking officials and create disputes GST needs to be simplified, not this

[D_shah @Dipookumarmf]

@kanodiaankit12 @SmartSyncServ Congratulations

[D_shah @Dipookumarmf]

@iRadhikaGupta Patola is from patan north gujarat

[D_shah @Dipookumarmf]

@iRadhikaGupta https://t.co/7Gm4KP4giC

[D_shah @Dipookumarmf]

@CRED_support from last 4 days I am not getting any support from cred customer care to resolve my payment of 84000 rs to my Citi credit card. Is this the service which you are giving? Look mobikwik it's so simple and fast processing of credit card billpayment.

[Smart Sync Investment Advisory Services @SmartSyncServ]

12 Tools 🔧 To Better Thinking

For Wars And For Investing

[D_shah @Dipookumarmf]

@LaPinozPizzaInd they are not providing jain sauces where they claim to be jain friendly . Very much disappointed with service and answer of counter person .sector 11 gandhinagar la pinoz pizza . Bill no 5503

[D_shah @Dipookumarmf]

Still not get 3rd AC rug and other things 😞
PNR-8860852682
Trn:22963
Dt:12-02-24
Frm ST to ADI
Cls:3A
P1-B4,15
Boarding allowed from ST only
Chart Prepared
For Enquiry/Complaint/Assistance,please dial 139
Indian Railway

[D_shah @Dipookumarmf]

@IRCTCofficial

[Smart Sync Investment Advisory Services @SmartSyncServ]

So many cricketers and film stars are celebrities in India.

Why did only a handful of businessmen or business groups attain celebrity status?

Tatas, Ambanis, Mahindras, Birlas, Murugappas, and you can count them on your fingers.

Mr. Madan Mohanka deserves to be on that list.

If you have not googled his name, odds are high that you have come across this name for the first time. And you would not have recognized him from even the image.

Here’s an interesting story on Mr. Mohanka which every investor must read and get inspired.

In the 1960s when even IIM-A was not that popular, Mr. Mohanka became one of the early graduates of the esteemed institute. Being born and brought up in a traditional Kolkata-based Madwadi joint family, immediately after his studies, he joined his family business.

Before he joined the business, it was merely a material and labour supplier cum electric installation company. Mr. Mohanka, through his enterprising vigour, metamorphosed it into an engineering company.

While most of his family members were happy with the status quo, Mr. Mohanka used to scan international trade journals related to mining, coal, steel, and power industries.

“If any of these products appeared to have market potential in India, I would write to the manufacturers and ask for details.”- says Mr. Mohanka.

This is how the seeds of Tega Industries (now a 6000 Cr market cap company) were germinated in June 1971.

@Shivam27_ from our team did a comprehensive deep dive into Tega Industries last month for our MissioN SMILE members. Join our MissioN SMILE community to access this and many more high-quality content on investing.

https://t.co/2R7w9GbJAV

SEBI Disclosure: No Holding, No Recommendation on the stock

Now back to our story of Mr. Madan Mohanka.

Mr. Mohanka saw an advertisement for Skega AB, Sweden in a mining journal.

Skega specialized in the design, development, and manufacture of abrasion-resistant rubber products for the mining and the cement industry.

He immediately started writing to the company for partnership or agency. After a few months, Skega agreed to start the partnership. But it took them 6 long years to take their partnership to a formal agreement in 1977 after a lot of back and forth with the government and Skega. And the main problems started after that. There were several of them.

Let us look at the top 5 big hurdles:

1. Problems with PSU customers: If the product worked, PSU employees thought they would lose their jobs, and if it didn't they had to take up responsibility. They chose the easy way. Didn’t do anything. We are talking about an era where except Tatas all mines were PSU-owned. They did not have the incentive to improve efficiency. For them, the best thing to do was to maintain the status quo.

2. SurveysVs Sales: Surveys showed a lot of promise for their products, but the proof of the pudding lies in the customer opening his wallet and handing out cold hard cash. Unfortunately, that did not happen for Tega.

3. Road accident of Mr. Mohanka: Midway through the project, MR. Mohanka met a serious road accident. He lost 5 months of work due to the accident. When he resumed, he saw that there was a significant over run in the cost of construction. In fact, he later realized that the initial estimate itself was faulty.

4. Dependency on one customer: There was just one avenue for the company in 1978. That was to secure a contract from Kudremukh Iron Ore Co Ltd (KIOCL) to fabricate and rubberline their indigenously procured equipment. To anyhow bag the order, Mr. Mohanka, against everyone’s suggestions, priced it too low.

5. Full-blown financial crisis: The result of the above order was a full-blown cash loss on the contract execution. So much so that in April 1979, Tega was unable to pay salaries to its employees on the due date. Mr. Mohanka’s wife gave her LIC policy and wedding jewelry to bail it out.

But having survived the crisis, Mr. Mohanka reflected on the past and learned the following five lessons:

1. Margin of Safety: When you try a new product, secure investments at least 1.5 or 2 times the amount you envisage for the development. Odds are always high that you under-appreciate the time and cost overruns in the project.

2. Never Give Up: Never for a moment did Mr. Mohanka think of scrapping the project. If that had happened, there was no need to write this post.

3. Support of People: Not a single team member left Tega during the testing times. There were people from IITs and IIMs, but they all said the same thing: “Don’t worry, we are all with you.” In times of crisis, these affirmations give you hope and faith that you can bounce back.

4. Patience: Mr. Mohanka said, "We were impatient in handling people in the government. So we got frustrated. But it’s a matter of experience.”

5. Integrity: Despite all the difficulties, Tega fulfilled all its delivery commitments to the customers. That’s the hallmark of a great organization.

Another very important reason for Tega to survive and thrive was the support of Mr. SS Nadkarni, then General Manager of ICICI. He believed in Mr. Mohanka and backed him all through. Not only that, he convinced other institutions like IFCI, IDBI, to subscribe to the right issue of Tega in the early eighties.

Mr. Mohanka admits, “If that had not happened, then maybe I would not have seen the light of the day.”

And last but by no means the least, was the unbreakable support of the Sweden company Skega during that period. They even waived royalty payments for Tega during those difficult times.

So, the company that Mr. Mohanka formed was Techno Electric. And with the partnership of Swega, they joined the two words and gave it the name, TEGA.

In the period of 1990 to 1998, the steel and mining industry in India was in very bad shape.

So much, so that when Tega supplied its material to the PSU customers, they paid in kind and not cash. For example, Hindustan Copper used to pay them in “tonnes of copper”. This was then sold at a discount to realize the money.

So going to export was not a choice but a necessity for them. However, their agreement with Skega restricted them to work only within India. So, in 1998, when Tega ended its collaboration with Skega, it marched into the Rest of the World.

However, getting export orders was not easy. Nobody could believe that an India-based company can manufacture products as good as the European & American manufacturers.

At that juncture, Mr. Mohanka took a bold decision. He hired an Englishman to enter the export market.

That Englishman’s salary was almost equal to the salary of all of Tega’s other employees. It was a big gamble. And this is what Mr. Mohanka thought at that moment:

“There are two ways to look at it. If I don’t grow, the company will remain small and die over a period of time. And if I fight and if this man does a good job, the company will fly. So, I would rather take a risk and die than not take a risk and die.”

Tega never looked back after that tough choice.The company immediately started growing its sales 50-60% every year from the small base.

Mr. Mohanka’s conviction for the business and his skin in the game can be gauged by the fact that in the year 2000 when they opened up offices and subsidiaries in the USA, Australia, and Canada, he sold off all his personal assets and landed properties to fund the expansion.

Over the last 20 years, Tega has grown by leaps and bounds and did an IPO a couple of years back. That is when we started reading and tracking the business.

SEBI Disclosure: No Holding, No Recommendation on the stock

At Smart Sync Services, when we analyze a business and its management, reading about the history of the business is an integral part.

If you find value, plz "Repost" to help us educate and reach out to max investors.🙏

If you wish us to cover the history of any more business, do let us know in the comment section.

If you find value in our research, do follow us @SmartSyncServ.

If you like our research and wish to know more about our research offerings or book a call with us, please click on the link below:

https://t.co/0Sh4DMHhKM

Thank you for reading🙏