Story of Mayank Singhal: MD and vice chairman of PI Industries -Entrepreneur
Biography of Mayank Singhal:
PI Industries traces its roots back to 1946, when it was
founded by P.P. Singhal with the initial goal of manufacturing edible oils.
From modest beginnings, the company steadily evolved, guided by a strong
entrepreneurial spirit and a desire to contribute to India’s industrial
development. Over time, PI shifted its focus toward agriculture and plant
sciences, setting the stage for a bigger transformation in the decades to come.
A New Visionary Steps In
In 1995, Mayank Singhal, son of P.P. Singhal, joined the
company and brought with him a fresh and forward-thinking mindset. By 1996, he
had fully immersed himself in PI Industries and started shaping its future.
Mayank wasn’t afraid to challenge outdated methods. Instead, he pushed for
innovation, setting the tone for what would become a remarkable journey of
growth and reinvention.
Building with Bold Ideas
Mayank believed in the power of science and innovation.
Under his leadership, PI Industries shifted focus towards advanced
agri-sciences, investing heavily in research and development. His strategic
moves included building new business verticals and letting go of areas that
didn’t align with the company’s future. These decisions fueled consistent
growth, with PI achieving a compound annual growth rate (CAGR) of over 24%.
A Pioneer in New Frontiers
Never satisfied with the ordinary, Mayank aimed to make PI
the first Indian company to invent and bring to market a completely new
agrochemical product. He invested in cutting-edge technology, built world-class
manufacturing capabilities, and encouraged a culture of experimentation and
learning. This future-focused mindset helped PI gain recognition on the global
stage.
Becoming a Global Partner
Through relentless innovation and strategic thinking, PI
Industries became a trusted name among over 25 global innovators. The company
built a presence in 40 countries, operated 10 overseas offices, and established
8 advanced manufacturing sites. With a workforce of over 4,000 employees and a
distribution network reaching over 100,000 retail points, PI emerged as a
global player in the life sciences space.
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A Journey Beyond Agriculture
Under Mayank’s leadership, PI expanded beyond agriculture
into the broader life sciences sector. This included launching PI Health
Sciences, which ventured into pharmaceuticals and CRDMO (Contract Research,
Development & Manufacturing Organization). The company also embraced
technologies like AI for molecule discovery and developed patented platforms in
chemistry and biologicals—making science the heart of their business model.
Staying Resilient in Tough Times
Despite unpredictable global economic and industry
challenges, Mayank skillfully steered the company forward. His ability to stay
focused, adapt strategies, and maintain momentum helped PI overcome major
headwinds while continuing to grow and expand. The company’s transformation
into a science-driven powerhouse is a testament to his leadership and vision.
A Commitment to the Planet
Mayank has always believed that business success should
align with environmental and social responsibility. He integrated ESG
(Environmental, Social, Governance) principles into every aspect of PI’s
operations. With the company’s purpose of “Reimagining a Healthier Planet,”
sustainability is no longer just a goal but a way of life at PI Industries.
Recognitions and Awards
Mayank’s efforts and PI’s achievements haven’t gone
unnoticed. In 2021-22, he was honored as one of Asia’s Most Promising Business
Leaders by The Economic Times. The company has won numerous accolades,
including the Most Promising Company of the Year by CNBC TV18, Platinum and
Gold Awards in R&D, and the Responsible Care Certificate by the Indian
Chemical Council—solidifying its leadership in innovation and responsibility.
Family, Diversification, and Future
Beyond PI, the Singhal family is also involved in other
industries, including Secure Meters (which manufactures energy monitoring
devices) and Wolkem (a calcite mining company). With Mayank at the helm, PI
Industries continues to dream big—focusing on breakthroughs that impact not
just agriculture but all forms of life, and shaping a healthier, more
sustainable future for the planet.
Timeline of Key Events
|
Year |
Event |
|
1946 |
PI Industries founded by P.P. Singhal to produce edible
oils |
|
1995 |
Mayank Singhal begins shaping the company’s future |
|
1996 |
Mayank becomes fully active in PI Industries |
|
2000s–2020s |
Company shifts to agri-sciences and expands into pharma
and CRDMO |
|
2021 |
PI acquires pharma business of Ind-Swift Laboratories |
|
2021-22 |
Mayank named Asia’s Most Promising Business Leader |
|
2024 |
PI wins multiple national awards for innovation and
sustainability |
