Godrej Group is a renowned conglomerate that was first established by Pirojsha Burjoji and Ardeshir Godrej in the year 1897. The Godrej family owns and manages the day to day operations of the conglomerate.
The group’s headquarters are in Mumbai, India.
The Godrej Group has substantial interest in the following sectors of the economy: aerospace, information technology, agriculture, security solutions, consumer goods, real estate, home appliances, furniture, chemicals, and electronics as well as construction services.
In the year 1897, a young lawyer by the name Ardeshir Godrej decided to stop practicing law and instead ventured into the manufacture of locks.
A few years later, the ambitious entrepreneur had become famous for making high-quality security equipment. He surprised many people when he managed to make toilet soap using vegetable oil.
Eventually, Pirojsha Godrej, the ambitious lawyer-turned entrepreneur’s brother joined him in the business.
Subsidiaries of the Godrej Group include; Godrej Consumer-Products Ltd (GCPL), Godrej & Boyce, Godrej Infotech Limited, Godrej Agrovet, Godrej Industries Limited as well as Godrej Properties.
What has Godrej Group achieved over the years?
In 1897, the group formally introduced India’s first lock that made use of lever technology. Five years later, it managed to make the first safe in India.
In 1920, the group started using vegetable oil to make soap. This was a major achievement in the country. 35 years later, it came up with the country’s first locally-made typewriter.
In 1989, the conglomerate made history again when it became the first local producer of Polyurethane Foam.
Sound business policies and efficient management enabled the group rake in about 4.1 billion US dollars in 2015.
Godrej Group today
Appointment of Ndidi Nwuneli
Are you aware that GCPL, a subsidiary of Godrej Group, has formally appointed a new director by the name Ndidi Nwuneli? This strategic decision has been taken because the group intends to capture the growing African market.
Excellent succession plan
Godrej Group has laid down an extremely elaborate succession plan. In the year 2013, Adi Godrej, the group’s chairman, decided to transform from a manager to a mentor with the objective of enabling his prospective heirs have firsthand experience in handling huge responsibilities. Adi Godrej proclaimed that if they proved to be incapable of professionally handling vital business operations, the only roles they would continue playing in the conglomerate was that of shareholders.
The strategic decision made by the group’s chairman has substantially paid off only three years later. Are you aware that all three of them (Godrej heirs) have successfully earned their stripes? Today, all three of them successfully execute their assigned roles and also have great working relationships with senior employees.
Ambitious plans for 2020
Are you aware that Godrej Group has recently made 4 major acquisitions with the aim of enhancing its growth and expansion plans by a factor of 2.5 in the coming 4 years? Its ultimate objective is to attain an ambitious US$ 10 billion in revenue by the year 2020.
The conglomerate publicly announced its vision for 2020, stating that it intends to be ten times larger than it was in the year 2010.
According to Godrej Group, inorganic and organic expansions in both foreign and domestic markets will significantly contribute to its projected growth and expansion plans. It’s the only conglomerate which has managed to make an impressive four acquisitions within a span of only six months.
Going forward, the organization intends to take over other companies because its growth would be inorganic and organic in nature.