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Devansh Jain, 

Executive Director
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DEVANSH JAIN, executive director of INOXGFL Group, is heir to a century-old business. His great-grandfather Siddhomal Jain had started a newsprint trading business in 1920. His grandfather Devendra Kumar Jain ventured into industrial oxygen in 1963. His father Vivek Jain's generation transformed the group into one of India’s leading corporate houses with leadership in diverse businesses such as industrial gases, multiplexes, cryogenic engineering and fluorochemicals. Devansh is leading yet another diversification—renewable energy. But his role model, surprisingly, is not from the family. It’s “Gautam Bhai (Gautam Adani),” he says. “I am his fan, for his vision on renewable energy, aggressive expansion, self-motivation, determination and dedication,” says Devansh. The heir apparent to INOXGFL Group even got an opportunity to work with his role model. In October last year, Adani Green Energy acquired three wind farms from INOX Wind’s subsidiary INOX Green Energy Services. INOX had also done a 100 MW wind project for Adani Green Energy in Kutch in 2019. In FY23, INOXGFL Group revenues were ₹7,400 crore while market capitalisation was ₹44,000 crore. Flagship Gujarat Fluorochemicals is a major fluoropolymer (niche speciality chemical used in EVs, 5G, aeroplanes) player globally. It nearly doubled its turnover from ₹2,729 crore in FY19 to ₹4,213 crore in nine months of FY23. PAT was ₹997 crore. Devansh Jain, a double major in economics and business administration from Carnegie Mellon University, is betting big on renewables. The EV business is going to invest ₹4,500-5,000 crore over three years in EV batteries, solar panels, hydrogen fuel cells and electrolysers.