The Vardhman Group was founded by SP Oswal, a Padma Bhushan recipient who has been instrumental in turning the business into one of India’s most prosperous textile conglomerates. Oswal, who has more than 50 years of textile industry expertise, has played a key role in determining the Vardhman Group’s growth trajectory and its current position as India’s largest yarn manufacturer.
Oswal was born in 1942 in Punjab into a textile-related family. He graduated from Punjab University with a postgraduate degree in commerce. In 1966, Oswal joined the family company. He established a professional work culture and innovative techniques over the years, which were unusual in Ludhiana at the time. He oversaw Vardhman Textiles’ substantial growth and diversification into yarns, fabrics, clothing, sewing threads, and specialized fibers. Currently, the corporation runs 15 plants in Tamil Nadu, Andhra Pradesh, Gujarat, Madhya Pradesh, Punjab, and Himachal Pradesh.
The enterprise today has over 1.2 million spindles and produces 670 tonnes of yarn every day, compared to just 6,000 in 1965. Because of his emphasis on sustainability and innovation, Vardhman is now a major player serving clients and markets around the world.
Oswal has a strong commitment to social responsibility in addition to his economic accomplishments. In addition to founding educational institutions like Sri Aurobindo College of Commerce and Management in Ludhiana, he also started projects like village adoption programs to assist cotton producers with cutting-edge agricultural practices. He received the coveted Padma Bhushan Award in 2010 for his services to industry and trade. Oswal has had a lasting impact on Vardhman Textiles as its chairman until 2024. Suchita Oswal Jain, his daughter, took over as vice chairperson in his place.
Both domestic and foreign companies, such as GAP, Uniqlo, Benetton, Marks & Spencer, and H&M, are customers of Vardhman Textiles. This family firm has expanded to 20+ locations across five states, employing over 30,000 people. The consolidated profit post-tax of Vardhman Textiles increased by more than three times in FY22, from Rs 426.91 crore to Rs 1,551.23 crore in FY21, according to Business Today.
