Balasubramanian Prabhakaran
| Balasubramanian Prabhakaran | |
|---|---|
| File:Balasubramanian Prabhakaran.jpgFile:Balasubramanian_Prabhakaran.jpg | |
| Born | 17 April 1973 |
| 🏳️ Nationality | Indian |
| 🎓 Alma mater | P.S.G. College of Arts and Sciences |
| 💼 Occupation | Founder and MD, Thriveni Earthmovers Private Limited, Co-Promoter and MD, Lloyds Metals & Energy Limited. |
| 👩 Spouse(s) | Kiruthika Prabhakaran |
| 👶 Children | Sooryanarayana Prabhakaran |
| 👴 👵 Parent(s) | P Balasubramanian B Vasuki |
| 👪 Relatives | B Karthikeyan (Brother) |
| 🌐 Website | www.thriveni.com, www.lloyds.in |
| Twitter= | |
B Prabhakaran (born 17 April 1973) is the Owner and the Managing Director of Thriveni Earthmovers Private Limited, and the Co-promoter and Managing Director of Lloyds Metals & Energy Limited. Unwavering passion, adaptability, fearlessness in the face of challenges, and relentless determination are the cornerstones that contribute to the makeup of an exceptional entrepreneur. Prabhakaran has demonstrated (and continues to do so) a remarkable embodiment of these traits, solidifying his reputation as a corporate leader. His unique genius lies in his capacity to recognize the opportunities in challenges. He is an Innovator and entrepreneur with 25 years in business leadership and experienced in all aspects of business formation, operation, finance, management and aviation.
Mr. Prabhakaran's vision is to give equal opportunity to all and create entrepreneurs through making a worker to a shareholder.
Early life and Education[edit]
Born in 1973, B. Prabhakaran (Balasubramanian Prabhakaran) is the son of Palanivelu Balasubramanian and B. Vasuki. His family was from a farming community. He completed his graduation in Bachelor of Computer Science Engineering from PSG College of Arts and Science, Coimbatore, Tamil Nadu, and then went on to found Thriveni Earthmovers Private Limited.
Passion for flying[edit]
Mr. Prabhakaran is a Trained & Certified Private Pilot License holder (PPL) from Government Aviation Training Institute (GATI), Bhubaneswar. He has flown the Cessna-152, Cessna172 and Pilatus PC12 Aircraft and BELL505 Helicopter. He has an aviation experience of more than 10 years.
Business journey[edit]
Under the guidance and vision of Mr. Prabhakaran, Thriveni Earthmovers Private Limited became India’s largest mine development and operator with group turnover of $350 Million. He had bought into Lloyds in May 2021 and become a shareholder, currently the company has got a market cap of 30,000 crores. Under his visionary leadership, Thriveni established and is running India’s first state-of-the-art rebuild, refurbish and manufacturing of mining equipment’s with group work force of 8000+ employees, and with a global presence in eight (8) countries. Thriveni also owns a separate aviation vertical with fleet of four (4).
In the early 2000s, Prabhakaran foresaw a growing demand for sea-borne iron ore. However, the private ore lease holders in India neither had the will to develop the same nor the intention to sell their leases. Therefore, he developed a transformative model, wherein unlike competitors, he would not seek leases but develop the orebody on his balance sheet. Recognizing the key strategy, he understood the importance of operating with local and impacted communities, empowering them with skills and capabilities to become part of the workforce. He not only invested considerable time with the locals to win their trust but also ensured that every commitment made was honored. In a short span of 4 years, Prabhakaran eventually collaborated with 15 Odisha lease holders, becoming the largest iron ore player in India, and grew to a production capacity of nearly 55 MTPA.
He established a large skill training academy (for impacted tribals), facilitating locals with accessible financing to establish small-scale enterprises, such as owning transport trucks. Moreover, he established Asia's largest state-of-the-art heavy equipment rebuilding center, rebuilding over 1000 heavy equipment machines, which contributed to saving the country more than USD 4 billion in foreign exchange. Additionally, he established an innovation centre that fosters continuous home-grown innovation. That centre today re-engineers heavy earthmoving equipment bodies for higher efficiencies and redesigns engines to combine diesel and LNG power, converting diesel engines to LNG and provides retrofits across OEMs.
Over the next few years, Prabhakaran had diversified into mining coal, gold, barytes and downstream operations, investing in pellet and steel making projects across geographies from Southern Africa to Indonesia. Underpinning these, were passions from his upbringing, tinkering away with innovative ideas and listening to impacted Odisha iron ore lease holders who had to relinquish their leases due to a new legislation. Consequently, business declined, and cash flows were substantially impacted.
By the mid-2010s, Mr. Prabhakaran realized that he needed a new breakthrough opportunity or else layoffs would be inevitable – a daunting task that was the last resort. For months, Mr. Prabhakaran and the team scouted and eventually in September 2019 identified Surjagarh, an iron ore body in the heavily Naxalite-infested and infamous Gadchiroli District. The ore body is undoubtedly rich as it is an extension of the world-class Bailladila iron ore range. Nevertheless, several risks were involved, particularly the Naxalite threat, which had stopped most development since the early 70s.
The future vision[edit]
Operating on multiple fronts, including collaboration with shareholders, team-building and unwavering progress, Mr. Balasubramanian Prabhakaran developed a well-thought-out and clear vision, determined to not only develop the Surjagarh mine, but also to invest in downstream businesses including both agglomeration and steel making. As a first step a green field sponge plant at Konsari is being built with a capacity of 2 X 95 TPD with a 4-MW (WHRB) power plant and number of expansions like Slurry Pipeline, Integrated Steel Plant, Pellet plant are planned.
1993-2000[edit]
Under the guidance and vision of Mr. Prabhakaran, Thriveni had seen a breakthrough in contract business and earned a good name in the mining industry. Between 1993 and 2000, the company worked with big names in the industry, including India Cements Ltd, L&T, L&T ECC, Madras Aluminum Co., Alagappa Cements, Neyveli Lignite Corporation, and Tamil Nadu Minerals Limited. In 2000, the company won the Breakwater Project “Seabird” as a joint venture project of Indian Navy, L&T and Hochtief.
2004-2007[edit]
Under the guidance and vision of Mr. Prabhakaran, Thriveni, attempted to win a mining contract in a difficult terrain of Orissa. The areas mainly include Tata Steel mines in Joda, Keonjhar Orissa, R P Sao & KJSA mine in Keonjhar district, and a crushing contract from Orissa Mineral Corporation. In 2005, the company was awarded ISO certification. In 2006, started the commercial Aggregate Project. In 2007, Thriveni mining went beyond India to Mozambique and Indonesia.
2008-2019[edit]
Between 2008 and 2010, the company started as MDO in three Iron mine D R Patnaik group, Kaypee and Seerajuddin Mines. In 2010, Samara Capital invested in the company to integrate all business process and implement SAP across all functions. In 2011, Thriveni won the FICCI CSR award for work on corporate social responsibility. In 2012 and 2013, the company made a record handling 42 MTA run of mine, the highest in iron ore mining. Thriveni started the Jharkhand operations in 2013 at NKPK mine and later got a contract at SMCO mine. In 2014, Thriveni started the operations in Kapypee Mine. During this time, B Prabhakaran has grown the company from US$5 Million to US$200 Million Company. In 2015 through a JV with Sainik Mining, it won the MDO contract of NTPC Pakri Barwadih block of 15 million tonne per annum.
Thriveni has established his permanent presence in Orissa (Barbil), Jarkhand, TamilNadu and various international locations including Indonesia, Malaysia, Singapore, Australia, USA and DR Congo.
2019 onwards[edit]
For months, Mr. Prabhakaran and the team scouted and eventually in September 2019 identified Surjagarh, an iron ore body in the heavily Naxalite-infested and infamous Gadchiroli District. The ore body is undoubtedly rich as it is an extension of the world-class Bailladila iron ore range. Nevertheless, several risks were involved, particularly the Naxalite threat, which had stopped most development since the early 70s in the district. With other shareholders, he developed a well-thought-out and clear vision, determined to not only develop the Surjagarh mine, but also invest in downstream businesses including both agglomeration and steel making.
To break ground at Surjagarh, Prabhakaran commenced by himself spending months among villagers and meeting with the District Administration, understanding their needs, their desires and communicating with them his vision, his vulnerabilities, intent and plans for the future, thus building mutual trust.
The region lacked essential community infrastructure support, commonly found in India, given both the remoteness of the location and fear of Naxals. Mr. Prabhakaran runs various CSR initiatives including Old Age Home, supporting education, providing medical facilities, Industrial Security Academy and Drinking water in Odisha. Separately, he established 30-bedded multi-specialty hospital, CBSE School, Security Academy, Skill Development center and Garment factory for women at Hedri Village, Tal. Etapalli, District Gadchiroli in Maharashtra. This will transform Hedri and surrounding area which was once deprived of basic facilities into a vibrant development centre.
Personal life[edit]
B Prabhkaran is married to Kiruthika Prabhakaran and has a son, Sooryanarayan Prabhakaran. Sooryanarayan currently studies in PSG College of Technology, Coimbatore. He is originally from Salem, Tamil Nadu but has lived in Barabil - Bhadrasai area in Keonjhar, Odisha. His wife, Kiruthika, is also involved in the business and mainly takes care of employee accommodation, health, education of children, food and other daily necessities which is a huge challenge in the remote mining area. She has been actively involved in carrying out initiatives to improve and support rural tribal areas.[1]
Initiatives[edit]
TISA[edit]
Thriveni Industrial Security Academy (TISA) is an initiative started in October 2010 targeting unemployed youth. So far, 600+ local young residents have been trained and employed by the academy. These students have joined Indian Army, CPMF, State Police, Fire Services or different technical stream of mines/industries. This initiative was awarded an appreciation plaque for commendable work and exemplary innovation in CSR at the Business World FICCI CSR Award 2011–12.[1][2]
Vocational training[edit]
Keonjhar is a socially backward tribal area of Odisha. B. Prabhakaran actively initiated and supported women of the region with training on skills like driving, tailoring, beekeeping and mushroom cultivation. He encouraged new entrepreneurs by donating tipper (mining truck) to fifty unemployed youths, with some of them now having purchased their 2nd and 3rd trucks and operating their own fleet.[1]
Healthcare and relief work[edit]
Thriveni has established a health care network in 175 villages with dispensaries, a pathology lab, ambulances for emergency, medical camps, treating more than 14,000 patients. The company provides free meals to the attendant of poor patients admitted in Keonjhar district hospital and other remote tribal areas.[3] B Prabhakaran was instrumental in creating an old age home for destitute senior citizens - “Anandashram”.[4] It provides free food, clothing, accommodations, medical care and recreational facilities for the old residents. Prabhakaran's company steps in to help victims of natural calamities, like Odisha Flood in 2011, Phailin in 2013 and also donated a sum of Rs. 31 lacs to CM's Relief Fund for flood victims of Uttarakhand in 2013.[1]
Education[edit]
The company established a CBSE English medium school, the Thriveni Public School. It also strengthened the hands of Adivasi Vikash Samiti run by social worker Padmashri Tulsi Munda. The company is also assisting Vidya Bhawan, Dig Darshan School and Seva Foundation.[1]
Infrastructure Development[edit]
The company has provided drinking water to 35 villages, laid 32 kilometers of roads and constructed four bridges.[1]
Certifications and awards[edit]
| Year | Name of Award or Certification | Awarding Organization |
|---|---|---|
| 2005 | Awarded ISO 9001:2001 certification | ISO |
| 2010 | Award For Best Social Service | CASSANDRA |
| 2010 | ISO 14001:2008 certification | ISO |
| 2011 | OHSAS-18001: 2007 certification | OHSAS |
| 2012 | CSR Award for Innovative Livelihood Project | FICCI[2] |
| 2013 | Think CSR Leadership Award (Odisha) - Rural Youth Development | Tefla's |
| 2019 | PSG Distinguished Alumni 2019 | PSG & SONS Charities |
References[edit]
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 "Initiatives by Prabhakaran". AP Sense. Retrieved 1 Dec 2014.
- ↑ 2.0 2.1 "FICCI for TISA". Archived from the original on 11 December 2014. Retrieved 1 Dec 2014. Unknown parameter
|url-status=ignored (help) - ↑ "Healthcare initiative by Prabhakaran". Market PR. Retrieved 1 Dec 2014.
- ↑ "Anandashram & Thriveni team up for welfare of the poor". Calameo. Archived from the original on 6 December 2014. Retrieved 1 Dec 2014. Unknown parameter
|url-status=ignored (help)
External links[edit]
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