V. R. Muthu, the current CEO of Idhayam, is a prominent figure in the Indian edible oil industry. He has played a pivotal role in the growth and success of Idhayam, a brand that has become synonymous with quality sesame oil in India and beyond.
Background and Early Life
Born into a family with a strong business legacy, V. R. Muthu inherited the entrepreneurial spirit from his father, V. V. V. Rajendran. Rajendran founded V. V. V. and Sons Edible Oils Limited in 1986, initially focusing on the production of high-quality sesame oil under the brand name Idhayam. The family’s business roots trace back to 1943 when Muthu’s grandfather started trading in edible oils in Virudhunagar, Tamil Nadu
Leadership and Vision
Muthu, along with his brothers V. R. Sathyam and V. R. Thendral, took over the business from their father and brought a fresh perspective to the company. Under Muthu’s leadership, Idhayam embraced modern manufacturing techniques and innovative marketing strategies, which significantly expanded the company’s market reach. The brand now enjoys a 90% market share in sesame oil and a 70% share in groundnut oil within India.
Expansion and Diversification
Recognizing the need to diversify, Muthu led Idhayam into new product lines. In 2006, the company launched Mantra Groundnut Oil, which quickly gained popularity in Tamil Nadu and subsequently in Kerala and Andhra Pradesh. This diversification helped solidify Idhayam’s reputation as a trusted brand in the edible oil market
Philosophy and Approach
Muthu’s business philosophy centers around the principles of quality, customer satisfaction, and continuous improvement. He views business as a form of service and considers customer satisfaction his greatest blessing. His dedication to these principles has not only driven Idhayam’s success but also ensured the brand’s reputation for reliability and excellence.
Impact and Legacy
Today, Idhayam is a household name in India and exports its products to 49 countries. The company generates an annual revenue of Rs. 569 crores and employs over 1,300 people. Muthu’s visionary leadership and commitment to quality have played a crucial role in achieving these milestones
V. R. Muthu’s journey with Idhayam is a testament to his entrepreneurial acumen and his ability to adapt and innovate. His leadership has not only transformed Idhayam into a leading brand in the edible oil industry but also set a benchmark for quality and customer satisfaction. As he continues to steer the company towards new heights, Muthu’s legacy as a business leader remains firmly etched in the annals of Indian industry.
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How it was done! – by Mr V R Muthu, Chairman and CEO, Idhayam Oil