AIRA: You are a first-generation entrepreneur. After a very successful sales and marketing career, how did the entrepreneurship bug hit?

A J Charles: Having spent years successfully building markets and driving sales for established names like ROFF, I gained a comprehensive understanding of what builders and contractors truly needed on the ground. That hands-on experience gave me the confidence to move beyond merely selling products—I wanted to build a brand from scratch, formulate reliable solutions, and actively shape industry standards. Of course, many offers were forthcoming from competitors and other businesses, but the thought of building something on your own by leveraging the years of experience one has built was exciting. As always, family was supportive when I decided to take the plunge

AIRA: You had a partner. How was the decision to join hands made?

A J Charles: My partner, Mr. M. A. Waheed, and I crossed paths and had worked together earlier. It was interesting that we shared a vision and highly complementary strengths. Mr. Waheed was exceptional at factory setups and product formulation, while my background was rooted in sales, marketing, and market expansion. Joining forces was a natural fit because we trusted each other completely. That mutual respect, combined with the complete autonomy to manage our respective domains, became the bedrock of our success. I of course wish to emphasise that mutual trust and respect for each other’s competence is the glue that helped us run the business successfully.

AIRA: Transitioning from professional career to entrepreneurship is risky. Starting a business as a direct competitor of a large brand is even more. How did you decide?

A J Charles: In business, perceived risk is often much higher than actual risk if you know your market intimately. We understood the construction chemicals space inside out, recognized where existing industry giants fell short on agility and customer service, and knew we could offer superior reliability and personal engagement. Believing in our technical expertise and deep customer relationships gave us the courage to take the plunge.

AIRA: Setting up a manufacturing business is not easy. Most professionals prefer to set up advisory or trading business. How did you decide on manufacturing business?

A J Charles: Trading gives you a business, but manufacturing gives you control over quality, margins, and long-term value creation. We wanted to offer genuine, dependable products that professionals could stake their reputations on. With Mr. M A Waheed driving formulation and plant operations at Sarigam, Gujarat, we were confident of our ability to manufacture world-class construction chemicals  right here in India. I had market relationships – distributors, dealers and sales professionals that were willing to trust the product we marketed. So, setting up a manufacturing business made logical sense.

AIRA: What were some of the initial challenges you faced in the business?

A J Charles: Although we were confident of our product formulation and marketing capabilities, we were up against some reputed names. Naturally, building market trust from zero was our steepest hurdle. Contractors and builders are inherently loyal to established names, meaning we had to prove our product quality outperformed the competition consistently. Establishing a countrywide distribution network while maintaining strict production consistency required immense patience, discipline, and daily problem-solving.

AIRA: The setting up costs of a plant, manpower, sales team, marketing are all front loaded with returns taking their time. How did you manage the finance?

A J Charles: We were a startup when that word hadn’t entered the business lexicon. Today you see twenty somethings raising huge money. We, of course, did not have that luxury. We were completely bootstrapped, investing our own money. Therefore frugality and cost consciousness was ingrained in the business form the word go. Financial discipline is everything in the formative stages. We kept our overheads practical, systematically reinvested early revenues back into the business, and managed our working capital tightly. Because we built a strong reputation for uncompromising quality early on, our cash flow cycles naturally improved as our distribution footprint expanded. We also invested a lot on putting the right systems and processes so that our decisions were based on data and not impressions. We worked on creating a professional HR system where we could attract and retain good talent. So, it is really focusing on the basics of business – systems and processes in operations to drive efficiency, good HR systems and financial discipline ensured we could keep the investment curve going while being profitable.

AIRA: SME owners are normally reluctant to exit. You made the decision. At what stage did you decide to sell the business?

A J Charles: When you start the business and run it for a reasonable time, you invest not just money but also a lot of emotional energy into it. At some stage, it becomes your identity. So, separating the business from the individual is difficult. But every business reaches an inflexion point where growing beyond that stage requires larger investment and association. An entrepreneur must recognize when a brand has reached a stage where partnering with a global giant can take it to the next level. We had built Perma into a nationwide, trusted brand with a state-of-the-art manufacturing plant and significant market share. When a leading multinational approached us to add Perma to their portfolio at the right valuation, it made strategic sense to hand over the baton. It makes the entire ecosystem richer – customers get wider portfolio, employees get continuity and as entrepreneurs we derive satisfaction of housed the business in competent hands to scale to its potential.

AIRA: Can you share some of your learnings from the selling process of the business?

A J Charles: First, keep your corporate governance, financial books, and compliance crystal clear from day one—due diligence moves significantly faster when everything is transparent. Second, timing is critical; exit when your business is on an upward growth trajectory as an attractive asset, rather than waiting for a market downturn. Finally, view a sale as the logical culmination of a complete business cycle—from inception to a thriving enterprise.

AIRA: What is the one policy change you would advocate to ensure a favourable environment for SMEs?

A J Charles: The government should actively streamline the regulatory and compliance burden on growing manufacturing SMEs, particularly during their first five formative years. Implementing single-window clearances for factory setups and ensuring easier, faster access to working capital loans would unleash massive entrepreneurial energy across India.

AIRA: What would be your advice to other SME owners that are looking to scale the business?

A J Charles: Focus relentlessly on product quality, assemble a team you trust, and give them the freedom to execute. Never compromise on your core values or client relationships, because word-of-mouth remains your most powerful marketing tool. Most importantly, build your business with systems and processes robust enough to run successfully with or without you.