Forging Mettle : Nrupender Rao and the Pennar Story

By Pavan C. Lall

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About the book

Most business leaders trace their journeys on their balance sheet, counting how their profits have grown under their business acumen and the speed with which they accumulate fame, fortune and sometimes a cult of personality.

A first-generation entrepreneur, Nrupender Rao’s story is as unique as they come. Born to a politician father, J.V. Narsing Rao, who served as deputy chief minister of Andhra Pradesh, Nrupender took the non-obvious path to his dreams, first at IIT Kharagpur, followed by a master’s degree at Purdue University and a corporate career that included stints at National Cash Register, Coromandel Fertilisers and Union Carbide.

When he took the leap of faith in 1987, buying the lossmaking Pennar Steels and hoping to turn it profitable, many thought it wasn’t a wise decision. Decades later, the Pennar Group is an established name in diversified ventures that range from environment projects, solar projects, steel guard rails, railway coaches and infrastructure components.

In Forging Mettle, senior journalist Pavan C. Lall tells the story of Nrupender Rao and his entrepreneurial journey. It’s also the story of how a business built with ethics and social and environmental concern at the core of its values can indeed be profitable and sustainable.

Pages: 252

Available in: Hardback

Language: English

Pavan C. Lall

Pavan C. Lall was born in Calcutta, West Bengal and sent to board at St Paul’s School, Darjeeling at an early age, after which he pursued writing in the United States. Graduating from West Texas A&M University, he gained his first exposure to captains of industry while working with Dallas Business Journal. With the passing of his father, P. C. Lall of Nazargunj, an erstwhile princely state in Bihar, he returned to India. That started a new chapter where he blended his experience of dealing with both Eastern and Western egos and sharpened his skills at wresting the truth out of the increasing number of billionaires India had produced. His first book, Flawed: The Rise and Fall of Diamond Mogul Nirav Modi, was written when he discovered that such stories did not always add up. Lall has also written for Fortune India, Business Standard and the Telegraph, among others.

Driven by innovation and technologies ahead of their times to serve unmet needs of the industry and society, here is a dynamic entrepreneur from my city, Hyderabad, who built multiple businesses in the last several decades. Nrupender Rao’s journey has not been linear and has had its highs and lows, but what is consistent throughout is his commitment to principles and ethical ways of doing business. He has shown that ethical entrepreneurship can create tremendous value to all stakeholders. - G.V. PRASAD CO-CHAIRMAN AND MANAGING DIRECTOR, DR REDDY’S LABORATORIES

I recommend this book to all who believe that entrepreneurship and optimism are the mechanism by which we can create enduring institutions. - SAJJAN JINDAL CHAIRMAN, JSW GROUP

The entrepreneurial journey of Nrupender Rao in Forging Mettle gives the reader a front-row seat in the roller coaster ride of starting a company, getting great traction, facing sudden seemingly insurmountable challenges and existential risks and to finally overcoming them. This book exemplifies his never-say-die spirit and his total commitment to ethical management and job creation. In a country like India, one sometimes wonders if it’s possible to build an institution that is profitable, principled and kind. Nrupender Rao’s lifetime of work has been his attempt to answer that question. - B.V.R. MOHAN REDDY FOUNDER CHAIRMAN AND BOARD MEMBER, CYIENT

For many entrepreneurs, the definition of a successful business is high profitability, liquidity and market capitalization. Nrupender Rao and Pennar’s story presents a unique philosophy for a company which is rooted in doing good and being good. I recommend this book to all aspiring entrepreneurs who want to understand how to build a principled and ethical institution. - ARUNACHALAM VELLAYAN VICE CHAIRMAN, MURUGAPPA GROUP