INTRODUCTION
Balaji Wafers and Namkeen group, based in Rajkot, Gujarat, India,
manufactures and distributes potato chips and other grain-based bagged
snacks in various flavours. Started as a micro-business, it has evolved into a
Rs 2000 crore company of products with an indigenous taste.
Balaji Wafers began as a micro-retail enterprise in 1974,managed by the
Virani brothers at Astron Cinema, Rajkot. By 1982, spurred by the initiative
of Virani brothers , this grew to a home-based manufacturing venture. A
decade later, the brothers set up an international standard automatic plant
in Gujarat, with steps to increase capacity and quality. In 2000, Balaji Wafers
installed its first fully automatic plant. By 2014, Balaji Wafers captured a
70% market share insnacks market. Today, the company employs more than
1800 personnel in their Rajkot and Valsad manufacturing facilities. Balaji has
the capacity to manufacture 100,000 kg of potato wafers, along with
500,000 kg of savouries per day.
VISION:
The Company’s Vision, shared by the brothers and the young is to grow into
a global giant using modern methods and techniques. The key drivers in this
journey of growth will continue to be the age-old traditions of Trust and
Quality, without any compromise.
MISSION:
The company aims to a ‘value for money product’, accessible to consumers
all across the country. To accomplish this, the company is seeking to
strategically develop a strong and credible distribution network, C&F
agents, dealers and retailers.
TECHNOLOGY:
Balaji Wafers is constantly striving to upgrade its technological strengths
with latest machinery and processes. The aim is to manufacture the best
possible product, with an eye towards “green” practices and smoother work
systems for the staff.
The company was among the first to install a fully automated plant in
Gujarat.
QUALITY:
Balaji Wafers is committed to providing Quality products and takes extra
care to ensure that its high standards are met at every step of production.
Only the best and graded raw materials are used for making the products.
Production is continuous and automatic to ensure Zero human contact to
preserve its sterility. International parameters are strictly adhered to for
nutritional and hygienic values.
HISTORY
Balaji company started in 1976 by the members of Virani Group, when
Chandubhai and his brothers Bhikhubhai and Kanubhai migrated from a
small village Dhun Dhoraji, Jamnagar district of Gujarat. Their father
Popatbhai Virani was a farmer, who sold ancestral agriculture land and gave
Rs. 20,000 to them to venture into business.The Viranis invested in farm
equipment,but could not succeed and lost the money. Kakubhai and his
brothers started a wafer business from a canteen of a cinema hall in Rajkot
in 1974. Until 1989, the wafers were produced at the Viranis' house and
distributed in and around Rajkot city.By their retail success they were
inspired to set a semi-automatic plant instead of preparing wafers by the
traditional frying method. The product gradually reached every part of
Gujarat, and the Viranis wanted to take over the whole western India, so
the biggest automatic plant of Gujarat came into the picture.
In the initial stage Balaji Wafers Pvt. Ltd. maja set up their plant at Aji Vasad
(Industrial Zone, Rajkot) with a new concept of making potato chips. The
main benefit they got is the readymade infrastructure availability due to
which their cost was reduced to large extent. They operated there for
around 22 years.
Balaji Wafers then set up their new fully automatic plant near Metoda
G.I.D.C. which is in the area of the village Vajdi, outside the town of Rajkot.
Balaji Wafers had a tremendous growth in the chips sector in the 2007-2016
decade, outwitting the marks of major players like Lays', Kurkure, Parle and
Bingo. The company aims at a similar market grab in the frozen foods and
fries sector dominated by McCain Foods, by launching a new line of
production under the Iscon-Balaji Foods brand.
Entrepreneurship was thrust on the Virani brothers at a young age, when
drought forced their father to sell ancestral agricultural land and give his
sons a mere Rs. 20,000, with the advice to go forth and start a business. The
road ahead saw Bhikhubhai, Chandubhai and Kanubhai fail at their first
venture of fertilizers and then take up working at a boarding mess in Rajkot.
Two years later, the brothers got associated with Astron Cinema and
performed all necessary jobs with immense sincerity. This led the owner to
offer them a profit sharing deal for running the canteen. The Viranis initially
bought prepackaged snacks for patrons. Subsequently, the brothers got into
sourcing unpackaged wafers and finally started making them themself at
their residence.
This was their first own production and soon, the brothers decided to sell
their product “Balaji Wafers” not just to the Astron visitors, but also to
customers outside. This was easier said than done, due to a harrowing
experience of half-eaten packets returned by shopkeepers and soiled notes
being paid. However, the Viranis persisted and ultimately created a name
that was so deeply respected, that it nearly wiped off all other competition.
The moped, which carried the wafers to the market, soon gave way to an
auto and then to a tempo taking financial support through a nationalized
bank.
Realizing that the key to constant success and profits was quality, The
brothers ensured that if cooks failed to show up, he personally made the
wafers and insisted on the best quality raw material to make Balaji wafers a
premium product. Taking inspiration from the bittersweet experiences in
life, the Viranis went on to create different snacks that were then sold
under the same brand name of ‘BALAJI’.
The key elements behind the phenomenal success of Balaji are the strong
fundamental values of Virani brothers, which chiefly include “Trust, Passion
and Steady Hard Work.
CURRENT BOARD OF DIRECTORS
The company has 7 directors and 2 reported key management personnel.
The longest serving directors currently on board are Chandubhai Popatbhai
Virani, Bhikhabhai Popatbhai Virani and Kanjibhai Popatbhai Virani who
were appointed on 22 September, 1995. They have been on the board for
more than 23 years. The most recently appointed director is Shyam
Kanjibhai Virani, who was appointed on 01 July, 2019.
Mihir Bhikhabhai Virani has the largest number of other directorships with a
seat at a total of 2 companies. In total, the company is connected to 1 other
companies through its directors.
