For Chandubhai Virani, the story of Balaji Wafers did not begin with sophisticated machinery, large factories or elaborate packaging. It began with a small business, limited resources and plenty of challenges. What Virani and his family had, however, was the willingness to keep going.
“We started our business with very little,” recalled Virani, founder and managing director of Balaji Wafers, while speaking at the 13th Specialty Films & Flexible Packaging Global Summit in Mumbai. “But we had one thing – the courage to face difficulties.”
In the early days, even packaging was basic. There was no access to the technology or infrastructure that larger businesses could afford. But as the snack business began to grow, Virani realized that making a good product was only one part of building a consumer brand.
The product had to be recognizable. Its quality had to remain consistent. And the packaging had to create confidence in the consumer.
That realization pushed the company to learn, experiment and invest. One of the early milestones was bringing a solventless laminating machine to Gujarat for the first time. The technology was new to the company, but that did not stop the investment. “We did not fully understand the technology initially, but we learned,” Virani said.
That willingness to learn by doing has remained central to his approach. Rather than investing in technology simply because it was available, the company tried to understand what the consumer and market required and then decide where technology could make a difference. “Understand the consumer, understand the market and then invest in the right technology,” he said.
As Balaji expanded, packaging became increasingly important to the business. Investments in machinery, automation, manufacturing facilities and supply-chain infrastructure followed. The company’s products now reach consumers across India and are exported to around 95 countries.
But Virani’s account of the journey is not simply about machines, markets and numbers. He places considerable emphasis on the people who grew alongside the business. From a small team, Balaji has grown to around 1,000 employees, supported by a much larger network of dealers, suppliers and business partners. Virani believes that this wider ecosystem has been as important to the company’s progress as its own investments.
“Our growth has not been possible because of one person alone,” he said. “It has been the result of the contribution of our workers, dealers, suppliers and the entire ecosystem around the company.”
That philosophy is particularly visible in the company’s approach to its dealer and supplier relationships. Virani believes a business relationship works best when both sides have an opportunity to grow. “We believe that when our suppliers grow, we also grow,” he said.
It is an uncomplicated idea, but one that has helped shape the way Virani views business. For him, growth is not simply about getting bigger; it is about building relationships strong enough to support that growth.
The next phase of Balaji’s journey is likely to look different. As the company becomes larger, Virani expects professional management and the next generation of professionals to play a greater role. A more professionally managed, potentially public-company structure could also be part of its future.
But professionalization, he believes, should not come at the expense of practical business thinking.
“An Indian company can compete successfully with global companies if it combines professional management with practical business experience,” he said.
Perhaps that is the most useful takeaway from Virani’s journey. Businesses do not always begin with abundant resources or perfect conditions. Sometimes, progress comes from being willing to confront problems, learn along the way and make the next investment when the business is ready for it.
For Virani, the foundation remains people and trust. “Business is built by people and sustained by trust,” he said. “If you have the right people with you and they have faith in you, you can overcome difficulties and build a successful company.”