It needs an immaculate planning and unbelievable amount of hard work to make things work at a time when the tide is against you. Ashok Soni, Managing Director, Voltas Limited is exactly one of those individuals who have helped Voltas stand on its own legs after a brief period of uncertainty and doubts.

When the intense competition of the immediate post-liberalization era changed the market dynamics for good, it took its toll on many a company. Voltas was one of the worst affected. It took only a person like Soni, who helped the company reverse its fortune.

A Chartered Accountant, Soni joined Voltas in April 1990 as General Manager (Finance). He was appointed as Vice-President (Finance & Operations) in September 1999 and joined the Board of Voltas in September 2000. By this point of time, the company's fortunes touch an unprecedented low. Voltas' diverse businesses became an unmanageable proposition and its key divisions were running up losses. What is more, Voltas was still run in the old-world way and hence was in no shape to stem the rot. In a single financial year the company suffered losses worth Rs.17 crore and resultantly had failed to pay a dividend for the first time in 43 years of its existence.

Since the time Soni took charge, the fortune of the company has undergone a miraculous turnaround. Accolades have to be bestowed upon the then Chief N. D. Khurody, but undeniably, Soni played no small part in this. The revival saga was scripted by Khurody and was practically carried forward by his successor Soni. And Soni has been scripting success ever since. In the Quarter ended December 31, 2006, the company's sales / income from operations rose by 3 per cent to Rs. 580.86 crore, as against Rs.447.09 crore in the same period last year. Profit before tax rose by 119 per cent to Rs.33.01 crore as against Rs.15.04 crore in the same period last year. Profit after tax rose by 7 per cent to Rs.19.43 crore as compared to Rs. 11.36 crore in the same period last year, despite much higher tax charge of Rs.13.58 crore (previous year - Rs.3.68 crore).

Known for his vision and fortitude, Soni enabled the revival of Voltas and since then, it has been a saga of forbearance, vision and direction. An epitome of inspirational leadership, Soni helped restore life to a down-and-out establishment and led it on to the path of growth and prosperity.