GODREJ GROUP

Godrej is an old Indian multinational conglomerate company founded by Ardeshir Godrej and Pirojsha Burjorji Godrej in 1897. It is headquartered in Mumbai, Maharashtra, India. Godrej Group has been in industry for almost 123 years serving more than 1.1 billion customers. It operates on various sectors and providing various services across the globe. Godrej Group has its subsidiaries and affiliated companies which include Godrej & Boyce, Godrej industries, Godrej Agrovet, Godrej Properties, Godrej Infotech, Godrej Koerber and Godrej Consumer Products.

GOALS

  • Providing employment- Godrej Group Limited has partnered with government and NGOs to provide many job related training programmes focussing on skill development and empowerment.
  • A step to a Greener India- Their manufacturing plants concentrate on productivity and environmental sustainability. The also focus on the water, energy and waste management in their factories.
  • Good/Green product- The company produces a good and green product by way of catering the needs of the customers down the pyramid and is also less harmful to the environment.

STORY OF GODREJ

After much of failures in business, Ardeshir Godrej sets up a lock company in 1897 which opened his locked door to success. In 1918, their company launched the world’s first vegetable oil soap without animal fat and then ventured into manufacturing steel cupboards. In 1943, the then Government of Bombay auctioned Vikhroli village Pirojsha Godrej which was transformed into a beautiful, industrial township supported by lots of greenery. In 1944, the group produced the safest safes. It was the pride of Godrej Group to manufacture 1.7 million Ballot boxes for India’s first elections after becoming a democratic country. Cinthol No.1, a soap which was released by Godrej became the second largest soap player in India. Refrigerators, hair dyes were also new categories in which they ventured. In 1990, Godrej Properties was established dealing with real estates in India. Godrej Agrovet was established in 1991 to address the agricultural crises in India. Godrej Group built the revolutionary lock: the Mechatronic Door Lock Key, and the Unique Dual Access Control Padlock in 2007. It also provided engineering expertise to India’s mission to the moon in 2008. Godrej India Cultural Lab was set up in 2011. It also built the Calandria for a 700MW nuclear power reactor for the Nuclear Power Corporation of India within a record time of 30 months in 2013. Godrej partnered with the Indian Space Research Organisation on India’s first mission to Mars. Godrej Aerospace engine powered the Polar Satellite Launch Vehicle and their precision components calculated the satellite’s trajectory to the millisecond. Godrej One was created in 2015 by Godrej Properties and Pelli Clarke Pelli, which headquartered at Vikhroli in Mumbai. They also acquired a 51% stake in Krsnaa Mehta’s India Circus to put a 100% in redesigning India’s lifestyle(2016). In 2017, Godrej Agrovet was listed in the Bombay Stock Exchange and National Stock Exchange. In 2019, the group made a big achievement by delivering the world’s tallest Continuous Catalytic Regeneration reactor of 95 meters, for Nigeria’s Dangote Oil Refinery. The Group partnered with the Ordnance Factory Chandrapur to develop the Pinaka rocket assembly line to enhance the production with high-quality and advanced-safety features.

As we can see, Godrej did not just grow from all out of a sudden but has been consistent and hard working and their goodwill is spread over a number of years.

Relevant links:https://www.business-standard.com/article/companies/godrej-holding-company-hikes-stake-in-godrej-properties-agrovet-121063000007_1.html https://www.outlookindia.com/newsscroll/icra-upgrades-godrej-consumers-longterm-rating/2110558