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Wednesday, October 4, 2023

Jaycee Coach Builders: How Rishi Aggarwal turned his family’s small firm into Rs 1685 crore business empire

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In 1996, Rishi Aggarwal joined his family’s small firm, which made Swaraj Mazda bodywork. His entrance ushered in a new era of innovation, expansion, and lofty aspirations for the organization.

His small firm from childhood has developed into a Rs 1685 crore behemoth. Along with vehicle sales, overseas commerce, and insurance, Rishi has expanded into six manufacturing areas.

As managing director since 1996, Rishi credits his JCBL Group colleagues for their successes. He argues we overcame challenges and created opportunities, affecting the mobility sector.

Choosing and retaining the right team is key. Every 1996-added employee is still here. Being open and maintaining them are vital.

JCBL, a national behemoth with 3000 employees and five cutting-edge production facilities encompassing 20 lakh square feet, operates in 31 Indian cities. Headquarters are in Chandigarh.

Rishi, 50, was born in Mumbai. Although his group is successful, his family’s origins in Karnal, Haryana, were humble.

Rishi’s grandfather sold things in Punjab. Over time, Rishi’s father and uncles worked hard to improve the family’s finances.

Rishi’s father, Rajinder Aggarwal, is the youngest of nine siblings.

Rajinder launched Jaycee Coach Builders in 1989 to make bus and truck bodywork. The family business became JCBL Group when it entered new markets.

Rishi grew up in Karnal. He attended St. Theresa’s Convent School in Karnal until 1987, Class 8. He transferred to Bishop Cotton School in Shimla and passed Class 10 in 1989. His father wanted him to be independent and handle his life.

Rishi remembers, “Despite our wealth, my father kept me grounded. Nobody treated me differently. He didn’t organize a car to take me to Shimla. He dropped me off at Karnal bus station while writing the bus number.

My parents in Shimla only received weekly letters and an annual phone call at the time. Naturally, mothers worry about their children, and my mother was no exception.

My father often reminded me, “You have your own money, you need to learn to handle,” when I needed to buy something. He never sent me anything else. I learnt independence in my two years of boarding school.

After Shimla, Rishi attended Modern School, Barakhamba Road, in Delhi. He graduated from Class 12 in commerce in 1991. He studied B.Com at Delhi University’s Khalsa College from 1991 to 1994 after graduating high school.

Rishi again stayed in a hostel and took a bus or train to Karnal, often riding the Delhi metro like locals. “Hostels taught me to stand on my own two feet,” he says. It showed me the importance of friendships and standing up for them.

“That time built my mental fortitude, disciplined me, and improved my leadership skills. Most significantly, it taught me to face problems.

Rishi earned an MBA in Finance from Delhi’s FORE School of Management in 1996.

At 23, he joined the family enterprise, which made Swaraj Mazda bodywork, after earning his MBA.

Swaraj Mazda was our only customer, and we only made bus bodies for him. Rishi remembers the biggest challenge early on was convincing people and businesses that bodybuilding was serious.

Even my teachers disagreed. I vividly remember my teacher’s face when I joined my father’s company. “Rishi, you were good with accounts,” she continued. You could act better. What prompted your decision?

Rajinder Aggarwal founded Jaycee Coach Builders in 1989 to make bus and truck bodies.

Rishi has silenced his detractors with his achievements. JCBL Group’s primary businesses are manufacturing, vehicle dealerships, international business, and insurance. Each sector has multiple industries and subsectors.

JCBL, their own brand, manufactures cars for Tata, Mahindra, Ashok Leyland, Bharat Benz, and Daimler.

JCBL manufactures luxury and utility vehicles, ambulances with unusual designs, and vanity vans for celebrities.

For over 20 years, JCBL Armouring Solutions has built bulletproof military vehicles, government cars, and SUVs.

JCBL Agri Solutions changed farming in 2018 with super seeders, straw reapers, and field levelers.

Mobility Solutions Ltd., founded in 1998, makes train and metro parts for the Delhi, Lucknow, and Sydney Metros. Production is underway for Vande Bharat Express parts.
Established in 1997, MSL-Aura Industrial Systems LLP has manufactured OEM temperature sensors, measurement and control flow valves, and systems for over 200 clients worldwide.

The company’s most innovative section is “Knock on Wood,” which designs and makes wood and metal furniture. Through this division, they export furniture.

JCBL’s 22 Indian dealers have helped it grow in the automobile industry as well as manufacturing. This features 2 Harley-Davidson, 12 Toyota, and 8 Bharat Benz dealerships.

They joined insurance in 2017 with “Policy Ensure.” Policy Ensure serves approximately 5000 pin codes and 2 lakh customers in 15 Indian states.

Although a workaholic, Rishi has stepped back from the group’s daily activities to assist start-ups and focus on its long-term aims.

Rishi has a lofty business idea. He says, “I see our company growing into a major manufacturing force with a strong focus on railways and defense, while maintaining our distinctive strength in customized solutions.”

CMD of JCBL Group and his father, Rajinder Aggarwal, always wanted to operate in manufacturing. His desire is coming true.

He constantly prioritized company R&D. Rishi says, “He works from 7:30 to 5:00, which makes him more active than me.”

“His canvas is undefined. My father invented the company’s latest motor home or caravan production.

Rishi’s younger sister, Aarti Agarwal, founded “Knock on Wood” and is a renowned furniture designer.

Sunil Pandey
Sunil Pandey
The business professional who loves penning down his thoughts/ insights on business, entrepreneurship, & startups. His ability to break down complex business concepts into easy & concise write-ups makes him a wonderful author. He believes that writing is a powerful tool for communication and education.

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