Chairman and Managing Director of BGR Energy Systems B.G. Raghupathy passed away on Sunday night. Mr. Raghupathy was 59. A first-generation entrepreneur, he founded BGR Energy Systems Ltd. in 1985.
The company, which is a flagship firm of the BGR Group of companies, is a leading player in turnkey engineering and contracting for power and processes sector projects. He was well-known for pioneering the concepts of dry cooling system and balance of plant in India.
Under his leadership, the company grew to one of the three market majors in the EPC business for power projects in India—with the company having the capability to manufacture a portfolio of large and high-tech equipment.
In particular, Mr. Raghupathy was able to forge a number of technology and equity collaborations with European, U.S. and Japanese companies— a move that saw the BGR Group weather difficult economic times.
In 2008, BGR Energy was listed on the Bombay Stock Exchange and the National Stock Exchange.
Mr. Raghupathy is survived by his wife, Sasikala Raghupathy, three daughters and a son. BGR shares fell to a new low of Rs.89.70, down 14.8 per cent, on the BSE.
