V.C. PADMANABHAN MEMORIAL AWARDS FOR EXCELLENCE, 2016
Why Manappuram cherishes the memory of its founder so much is worth an explanation. A casual reading of the Manappuram story will tell you that my father started the business in 1949 and managed it till 1986, when he passed away. At the time, Manappuram was a single branch business located in Valapad. Today, we have a presence across India with 3,300 branches spanning 27 states and UTs.
What these numbers don’t tell you is that even as Manappuram remained a single branch outfit, my father had built up enormous goodwill for the business among the local people who trusted him fully with their hard earned money. And, it is a testament to his integrity, that he was one of the select few from the business community of this area who paid his income tax religiously in the seventies and eighties. Integrity, to him, was a way of life.
After I took over, I was lucky that India began its liberalisation in 1991. It presented opportunities to me that were just not available to an earlier generation of ethical, law abiding entrepreneurs. After taking over, I decided to expand the business. I was able to tap into this reservoir of goodwill and take advantage of the much improved business climate. And so, when I promoted Manappuram Finance Ltd. in 1992, much of the initial capital came from the local people who instinctively trusted the name “Manappuram” and did not hesitate to invest their hard earned savings.
That’s why, even as Manappuram has grown into a national presence with an international footprint (in terms of our investors), we never forget that we owe it all to the vision and values of our Founder, and that legacy of goodwill left behind by him that was the real fortune I inherited.
And these awards are a reminder of our Founder’s commitment to excellence of which we are the beneficiaries. We have chosen to express our gratitude to our founder by recognising excellence in public personalities from which society as a whole has gained.
Incidentally, my father passed away in 1986 and this year marks his 30th death anniversary.
Shri. V.P. Nandakumar, MD & CEO, Manappuram Finance Ltd.