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December 20, 2012

Godrej and Boyce - A success story

Godrej & Boyce


 The Godrej & Boyce group of companies is one arm of the Godrej group (the other being the Godrej Industries). The companies origin can be traced back to the year 1897 when India was still choking under the yoke of colonial rule. The founder of Godrej, Ardeshir Godrej was a lawyer by profession. But he was also a prolific inventor and a sagacious individual who could foresee the future. His creative bent of mind led to invent the safety lock, the first of its kind in India and his innovative design was given shape by his brother Pirojsha Godrej. Ardeshir. Together with his brother, he laid the foundation for a lock manufacturing establishment which eventually grew and multiplied manifold to become the Godrej Group as we know it today.


The diversified areas and segments


Godrej has for long been a household name and the Godrej logo is one of the most easily identifiable and ubiquitous emblem in the country. More than 500 million Indians use branded products of Godrej everyday and are steadfast when it comes to brand loyalty. The Godrej & Boyce Group is comprised of 20 distinct companies that focus on diverse areas including but not limited to home appliances, construction, electrical and electronics, security solutions, storage solutions, materials handling, precision engineering and systems, and InfoTech.


 It wouldn’t be an exaggeration to say that there’s a little of Godrej in every Indian’s life. The group’s average turnover exceeds $ 3.5 billion and despite the conglomerate’s strong Indian roots, more than 25% of its revenues are derived from its overseas operations. You’ll come across the products of the Godrej group in over 60 countries. The company that started off a humble establishment producing locks for the typical Indian household has indeed gone from strength to strength and has had a trailblazing journey in the last 115 years of its existence.     


The holding companies under Godrej & Boyce and their produce


The Godrej & Boyce is the major arm of the Godrej Group with 20 holding companies under its fold. These companies are Godrej Appliance, Godrej Construction, Godrej Storage Solutions, Godrej Security Solutions, Godrej Prima, Godrej Tooling, Godrej Process Equipment, Godrej Precision Engineering, Godrej Locks, Godrej Electricals and Electronics, Godrej InfoTech, and so on and so forth. The arm has holding companies in Malaysia, Singapore, Vietnam, and in the Middle East countries.


These holding companies are engaged in the production, marketing and distribution of home appliances (both electrical and electronics), furniture, precision tools, healthcare and medical diagnostic equipments, machine tools, heavy earth machinery, interior solutions, office automation products, office equipment, all types of locks, state of the art HID access systems, word processors, and automatic safes and lockers and security solutions.


You name it and Godrej has it


The constituent companies are also into food processing, precision engineering, information technology, construction, industrial storage and so on. The group also is a leading manufacturer of refrigerators, washing machines, microwave ovens, aerospace equipments, edible oils, air fresheners, car perfumes, forklift trucks, sweeping machines, bobcats and what not.


Although the company has been through many ups and downs in its 115-year history, it has nevertheless been able to make the chequered transition from safety locks to the 21st century’s call centres.  The managing director of Godrej & Boyce is Jamshed Naoroji Godrej and Adi Godrej is the chairman. Phiroze Dinshaw Lam is the President and Executive Director. The Godrej Group is the largest owner of real estate in Mumbai that according to reliable industry estimates is valued at $ 16 billion, according to current market rates.


Corporate Social Responsibility


Much before the concept of Corporate Social Responsibility began to gain ground and started to be embraced by corporate entities worldwide, Godrej had been fulfilling its social responsibilities. The founder, Ardeshir Godrej had donated a generous sum of 3 lakhs to the Tilak Swaraj Fund in 1920. And since, the company has played a pioneer role in contributing to the holistic growth and development of the nation. It has been an established practice of Godrej & Boyce group companies to plough back proceeds from 25% of its stock (that is deposited in a trust) in the academic, healthcare and environmental sector.


The group also has been running the Udayachal Group of Schools since 1955. The schools have been focussing on the all-round mental and physical development of its students with the pious objective of turning out the complete Indian. The group also awards TFI (Teach for India) fellowships to students who intend to dedicate two years as full-time teacher in schools with poor resources.


The conglomerate also has been doing its bit for the environment via the Godrej Green Business Centre that was envisaged in collaboration with the Andhra Pradesh Government and the Confederation of Indian Industries. It stresses on constructing large scale industrial and residential projects in a manner that does not affect the fragile environment. The company also has been actively involved in preserving the flora and fauna. It has been involved in afforestation projects.


Godrej & Boyce is an equal opportunity employer


One big reason why the Godrej & Boyce group companies has been able to chart their success stories is because of its indispensable pool of human resources. The group companies have been attracting the best of skilled and talented young men and women since long. Of the total number of employees, women make up a sizeable section. The group is currently recruiting in many holding companies across many segments.


Some key employees


Dr. Kyamas Ardeshir Palia is the Director of Finance. K.G. Shukla is the Chief Operating Officer. Vijay M. Krishna is the Executive Director. Vivek Gambhir, the Chief Strategy Officer is an alumnus of Harvard Business School. He has been playing a pioneering role in accelerating the growth of the group by strategizing mergers and acquisition plans, carrying out portfolio analysis and steering the group strategy as a whole. Anirudh Singh, AVP Sales, Godrej Consumer Products, is an IIM Calcutta graduate who currently is in charge of the West Branch Sales Division and manages a sales force consisting of 80 representatives stationed in 5 states. Some other noteworthy employees are V Srinivasan, Rajiv Jog, Amandeep Singh, and Rajeev Ramprakash.


Some current news


Godrej Locking Solutions and Systems are looking forward to expand its operations in the Middle East especially in Saudi Arabia, Qatar, Bahrain, Kuwait, and Oman. It has almost finalized plans for stepping into unexplored markets in Tunisia, Egypt, and Yemen. It is all geared to takeover companies across a swathe of nation in Africa. The Godrej Group is also optimistic about its expansion plans in some areas it specializes on like haircare, personal hygiene, and insecticides meant for the home.            

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About Kanika

I have been writing for almost 3 years now for various clients