Ajay Piramal

Sometimes, we get mixed up when we say that profit is not important for stakeholders. Oxygen is not the reason a person lives. But it is essential to have oxygen, although it's not the only reason for a person's existence. It is similar for profit.

If you concentrate on action and forget the results, you actually perform much better, because then you are not worried what will happen.

I think my greatest virtue is that I have the courage to take tough decisions. As for my greatest fault, I guess I should be a little tougher. The feedback I get always is that I am not as tough and demanding as I should be.

In any merger, when you have large organisations coming together, there will be challenges in terms of culture.

We have a unique culture.

We never thought about getting into banking, as it is not an attractive business as perceived generally. This was also not a consideration when we decided to invest in Shriram Group.

When we look at our business, we are not that concerned about short term valuations.

Textile mills are not a very high-margin business and have fixed overheads, so it was challenging. But I think it is only in challenges that you get opportunities.

There is nothing similar between the pharmaceutical and textile business.

We will follow in letter and spirit whatever the RBI rules and guidelines are - whether at the holding company level or individual company level.

When we exited the textiles business, we paid our bankers and labourers. We must have been the only company to do that.

We have been successful in buying and selling companies because we have a reputation of fulfilling deal terms in letter and spirit.