AHMEDABAD-BASED Torrent Group brothers Sudhir and Samir Mehta built upon the pharma business started by their father Uttambhai Nathalal Mehta 64 years ago, and turned it into a conglomerate with over ₹23,500 crore in revenue from pharma, power, renewables and gas. Now GenNext is taking over.
Elder brother Sudhir Mehta’s sons Jinal and Varun were groomed for power and new businesses and in 2018, Jinal was made MD of the power business. Torrent Power Ltd. (TPL) then had 3,585MW worth of generation assets, and Jinal, a wholetime director since 11 years, took up the execution of the 1,148MW SUGEN, 383MW UNOSUGEN and the 1,200MW DGEN projects in Gujarat. The company currently has a generation capacity of 6,400MW. It reported revenues of ₹14,258 crore in FY22, a 17% increase over FY21. The 39-year-old Jinal also looks after the gas distribution business. .
Younger brother Varun Mehta was inducted into the board of TPL as a wholetime director on August 8, 2022. Varun Mehta, 34, is executive director of Torrent Power and heads the distribution licence area, transmission and cables businesses. He was instrumental in spearheading the import of LNG directly from international markets, making Torrent Power the first domestic power company to do that. — P.B.Jayakumar