IBLA 2024: Murugappa Group’s Vellayan Subbiah awarded for Outstanding Business Leader of the Year

In the world of business, true leadership is defined by the ability to transform, innovate, and drive growth, even in the face of adversity. Vellayan Subbiah, a fourth-generation leader of the Murugappa Group, has done just that.

With a Civil Engineering degree from IIT Madras and an MBA from the University of Michigan, Subbiah took charge of Cholamandalam Investment & Finance in 2010… and he systematically turned what was an ailing company into India’s leading vehicle financier. In FY24, the company clocked consolidated revenues of ₹19,420 crore and a profit after tax of ₹3,420 crore—a far cry from the ₹956 crore in revenues in 2010 and ₹53 crore in profit.

Subbiah then took the helm at Tube Investments of India, diversifying its operations and pushing the company into uncharted territory in the electric mobility and semiconductor sectors. Under his leadership, the Murugappa Group has achieved record profits of ₹7,885 crore in FY24, with turnover reaching ₹77,881 crore.

For his outstanding track record in innovation, driving sustainable growth, and leading with vision, the jury of the CNBC-TV18 India Business Leader Awards 2024 has chosen Vellayan Subbiah for the title of Outstanding Business Leader of the Year.