He was son of Hirachand Doshi from his second marriage and was step-brother of Walchand Hirachand, who was born from first marriage of his father. He was born in Sholapur in Maharashtra in a Jain family of Gujarati origin. Name of his other brothers were Gulabchand Hirachand and Lalchand Hirachand.
When he grew up he joined his brother, Walchand and served its various group companies like The Scindia Steam Navigation Company Ltd., Walchandnagar Industries, Hindustan Aeronautics Limited, Ravalgaon Sugar, Hindustand Construstion, Premier Automobiles, etc. In 1931, when Walchand floated Indian Hume Pipe, he made Ratanchand its Director-in-charge. Further, he headed Walchand group, Cooper Engineering for several years.
He also served on various committees and planning commission in decade of 1940.
Further, he published several books on Jain religion of which the book titled The Religion of Ahimsa published in 1957 is noted one. He also published in Marathi, as well in Hindi, biographies on his father Seth Hirachand Nemchand and others like Dinanath Bapuji, Magudkar, etc.
He was trustee of various schools, colleges and hospitals run by Walchand group.
- Business Legends – Gita Piramal. 1999. pp. 156, 168, 219, 276, 280, 300, 612.
- Ratanchand Hirachand – freedom fighter
- The Madras Stock Exchange official year-book: Volume 18. 1971. p. 590.
- Encyclopaedia Of Professional Education (10 Vol.) By B.R. Sinha. 2003. p. 105.
- Acarya Kundakunda's Samayasara By Appaswami Chakravarti, Amṛtacandra, Kundakunda, Kundakunda. 2008. p. 10.
- India's Industrialists, Volume 1 By Margaret Herdeck, Gita Piramal. 1985. p. 451.
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