Mumbai: The Kolkata-based RPSG conglomerate is betting on energy, chemicals and IT-enabled services (ITeS) to lead the conglomerate’s growth in the coming years, chairman Shashwat Goenka said, picking the frontrunners from a diverse portfolio that stretches from power and chemicals to snacks, music, retail and sports.
“Energy, which is a combination of the power distribution business and the renewable energy business; chemicals, which is a combination of our traditional carbon black plus the new specialty chemicals and water chemicals that we are in; and third would be Firstsource, which is our BPO and IT-enabled services,” Goenka told Mint on the sidelines of the CII National Leadership Summit in Mumbai. Goenka is the vice-president of .
The three businesses cited by the 35-year-old scion of RPSG are housed in listed companies.
Ltd, the group’s utility arm, deals with power distribution as well as renewable energy generation under its subsidiary Purvah Green Power Pvt Ltd. It has a market capitalization of a little over ₹17,400 crore. PCBL Chemical Ltd, with a market capitalization of over ₹12,800 crore, makes carbon black, a fine powder of elemental carbon used in manufacturing tyres and inks. The company also houses Aquapharm, a manufacturer of specialty chemicals acquired by the RPSG in 2023.
Firstsource Solutions Ltd is the group’s BPO arm that caters to industries such as healthcare, banking and financial services, and retail. The company is valued at ₹17,400 crore.
RPSG’s other businesses include sports franchises under the Super Giants brand, music label , snacks under the Too Yumm! brand, media, and retail chains Spencer’s and Nature’s Basket.
“We have always been a group that has reinvented either the businesses that we operate in themselves, or entered new industries that are becoming relevant from a future standpoint, and that’s been the history for us over the last 220 years. And I think that’s one of the key reasons for our success as well,” Goenka said.
In the renewable energy space, where Purvah Green acquired a 1.4-gigawatt (GW) operational solar power portfolio from ReNew in August, the group has plans to reach 10 GW of capacity by 2030. That would make it one of the top 10 renewable energy producers in the country.
“We are very confident that we will exceed that target,” Goenka said, adding that both organic and inorganic growth will be a part of its strategy.
On concerns over the lack of profitability of the consumer goods business, Goenka said the business is at an early stage and will take time to contribute to the group’s profitability.
“It is a new business. It is a new vertical that we have entered into. Having said that, we have been growing faster than the market over there, and so I think that is something that is going to continue to grow,” he said.
The group launched its flagship Too Yumm! Snacking brand in April 2017. It is housed under the group’s holding company RPSG Ventures Ltd, which has a market capitalization of just under ₹2,900 crore.