Early Life
Madan Mohanka was born in 1943. He earned a Bachelor's Degree in Science (Engineering) from Ranchi University and a Post Graduate Diploma in Business Administration from the Indian Institute of Management, Ahmedabad (IIM-A). Mohanka has always understood the importance of giving back to society, and was inspired by his father's philanthropic work, which involved founding a school in Rajasthan. In 1967, he received an MBA from IIM-A and was one of the few early MBAs from the institution. He initially joined his family business but later decided to pursue entrepreneurship.
Rise to Success
Mohanka founded Tega Industries in 1976. The company initially collaborated with a Swedish firm, Skega, specializing in abrasion-resistant rubber products. Mohanka saw an opportunity in the mining and mineral processing industries and steadily grew Tega Industries into a global leader. He took the company public in December 2021, which resulted in a significant premium on the IPO price. Mohanka's son, Mehul Mohanka, is the Managing Director and Group CEO of Tega Industries.
Key Business Strategies
Mohanka's vision for Tega Industries involved replacing steel with rubber in the mill lining industry. He focused on strategic decisions and acquisitions to expand the business. Even with the challenges of a first-generation entrepreneur, Mohanka prioritized his employees and ensured they were paid on time, even during difficult periods. Tega Industries now has an extensive global presence with manufacturing facilities in multiple countries, and partnerships with over 700 customers worldwide.
Philanthropy
Beyond his business success, Mohanka is committed to giving back to society. He has been involved in social service activities focused on education and development of the underprivileged. He established the Tega Bhavishya Asha School Project in 2005. Mohanka also supports Disha Education Foundation, which focuses on improving education quality and imparting world-class education in rural areas. He has also donated to IIM-A, creating cases and participating in seminars to aid young entrepreneurs.