This Man Started His Company With Rs 50 In Pocket; Today Employs More Than 500 People With Rs 300 Crore Turnover

The current turnover of PSA Chemicals & Pharmaceuticals Pvt Ltd is around Rs 300 Crores with an employee strength of 500.

You don't need a lot of money to be successful. All you need is a vision and indomitable willpower to carve a space for yourself in the world. The success story of Pramod Bharal, founder of PSA Chemicals and Pharmaceuticals Pvt Ltd and Rainbow Life Sciences Pvt Ltd proves that everything can be achieved with grit and determination. Pramod Bharal is a well-known innovator and philanthropist in Maharashtra. Last year, he was awarded Samaj Bhusan Award by the Governor of Maharashtra at the Mahaveer Jayanthi Janmotsav celebration at Raj Bhavan. 

Who Is Pramod Bharal?

Pramod Bharal was born on the 17th of November 1951 in Arvi, Wardha of Maharashtra to Jasraj and Sushila Jain. Besides being an entrepreneur, his father was also a freedom fighter, who participated in the Independence movement. He completed his degree in Chemical Engineering from the National Institute of Technology, Nagpur, in 1972. He moved to Mumbai to pursue better employment opportunities.

Speech Impediment

One of the main challenges that Pramod Bharal faced during his young age was his stammering problem. This problem even persisted during his job as well. When working for Mardia Chemicals Ltd., he found that he was getting paid less than his colleagues simply because of a speech impediment. He then decide to overcome his childhood problem and with a lot of determination, he not only improved his speech but also moved on to better jobs.

Pramod Bharal: Initial Career

Pramod Bharal worked for three different companies for 12 years to gain experience in production and project execution. He then quit his job and started his own consultancy business in 1984. He then became an indenting agent for a chemical company in 1987, which introduced him to sales and marketing. He used ingenious and innovative sales methods to expand his business and became an international sales representative for many pharmaceutical firms.

Pramod Bharal: Entrepreneurial Journey

Pramod Bharal established PSA Chemicals Pvt. Ltd. as a firm in the year 1985 to render technical services in the API manufacturing sector. Since he is a chemical engineer with vast corporate experience, he decided to make rare-disease medicines affordable and easily accessible for everyone. Later, he launched a new startup called Rainbow Life Sciences Pvt Ltd to bring 100 per cent plant-based ayurvedic medicines to consumers. However, during the initial years, the company struggled to find reliable and quality suppliers of raw materials and intermediates, complying with the stringent regulatory requirements of different countries and investing in infrastructure, technology and human resources. But they soon overcame these challenges and today PSA Chemicals has a presence not only in India but across 30 countries. Today, his firm has identified over 18 illnesses, ranging from sclerosis to breast tumours to various pain therapies, whose medicine and treatment are expensive. To help those suffering from these diseases, Bharal recently announced aid for the treatment of these diseases. 

The current turnover of PSA Chemicals & Pharmaceuticals Pvt Ltd is around Rs 300 Crores with an employee strength of 500. Given that the company was started with just Rs 50 in the founder's pocket, Bharal's story is an apt inspiration for those who want to fulfil their big dreams.