EGA Industries Chairman Madan Mohan Mohanka Inspires IIM Ranchi Students with Lessons on Entrepreneurship and Leadership

Ranchi: The Indian Institute of Management (IIM) Ranchi hosted an inspiring interaction with Madan Mohan Mohanka, Chairman of Tega Industries, who shared valuable insights from his entrepreneurial journey and leadership experience with students, faculty members and staff.

Drawing on decades of experience in building Tega Industries into a global enterprise, Mohanka reflected on the challenges, decisions and values that shaped the company's growth. Recalling his days as a student at IIM Ahmedabad, he spoke candidly about the difficulties he initially faced in adapting to management education despite his engineering background. He emphasised that the most meaningful learning often comes through perseverance, self-discovery and practical experience rather than classroom teaching alone.

Sharing key milestones from his entrepreneurial journey, Mohanka highlighted the importance of patience, resilience and informed decision-making. He recalled how Tega's Kalyani plant operated for nearly two years without generating sales, teaching him the importance of evaluating not only business potential but also its ability to be converted into tangible results. He also explained how the company achieved sustained growth by concentrating on a select group of key customers and building long-term relationships.

Speaking about Tega Industries' international expansion, Mohanka cited the example of an expensive acquisition in Chile to underline the importance of thorough due diligence before acquiring a business. He advised aspiring entrepreneurs to spend adequate time understanding an organisation and building a capable internal team instead of relying solely on external consultants.

Stressing the importance of people-centric leadership, Mohanka said employee salaries were always paid on time even during financially challenging periods, reflecting his belief that organisations must stand by their workforce in difficult times. He urged students to trust their teams, believe in their products and remain confident in themselves while leading with empathy and compassion.

Responding to a question on startups, he observed that although today's entrepreneurial ecosystem has evolved significantly, the fundamentals of building a successful business remain unchanged—strong teams, faith in the product, self-belief and collective resilience.

Addressing the gathering, IIM Ranchi Director Prof. Deepak Kumar Srivastava said the primary objective of management education is to equip students with the knowledge and skills required to create and capture value. While the business environment has become more competitive and technology-driven, he noted that the core principles of value creation continue to remain relevant.