Saroj Poddar, the man in the hot seat in Gillette India, is a man who walks with the best. Apart from being Alstom India chairman, the quietly charming businessman has emerged as the single largest individual investor in Gillette besides an equally long-standing relationship with leading global brands like Parker and Singer.
"This has always been my strategic vision "" to be the promoter and long-term strategic investor in strong brands because I have always believed in the value of these names over time," Poddar told Business Standard after the spotlight focussed on him following the global P&G-Gillette deal.
The son of eminent Marwari industrialist Badri Poddar, Poddar is best known in his hometown Kolkata for his palatial residence on Ballygunj Circular Road, and his position as son-in-law of Parliamentarian and industrialist K K Birla, but that is because all his life he has chosen to be a strategic investor and promoter of global brands in the country when such a thing was far from fashionable in an economy obsessed with self-sufficiency and socialistic minimalism.
Poddar comes from a family known for its unique ideas. For example, the Poddar family used to grow rice and other grains inside their Kolkata residence for use in the puja room as those bought from the market were considered impure.
Poddar sees himself as a promoter in global brands and bristles at being called an 'investor' in such matters.
"I floated Gillette in India as the founder chairman and promoter of the company," he points out right at the beginning of the conversation as soon as the word 'investor' was used.
"I held 27 per cent in the company and Gillette held 24 per cent, with the rest being widely held. Over the years, the equity of the company expanded as it took over other companies and absorbed Wilkinson and other brands," Poddar adds. His equity in Gillette has now come down to 15 per cent.
Says a senior Kolkata-based industrialist: "He is very different in that setting up projects and tackling the nuts and bolts is not his cup of tea. He thinks ahead to identify investments and alliances that will pay off in the medium and long-term."
His vision on Gillette is clear: "It is a brand powerful enough in India to be sustained as an independent operation under P&G management and I think it will create the maximum wealth this way."
However, he knows things may be very different: "In about six months the global merger will fall into place, and this may mean a comprehensive buy-back and delisting in India."
A man who continues to be different from his compatriots in the Marwari community, Poddar today works out of an office in Kolkata's HSBC House on Dalhousie Square and rides a characteristically discreet dark Mercedes-Benz to work.
In the early 1980s, as president of the Indian Chamber of Commerce, he created quite a stir with his very strong views on troublemakers in the trade union movement and production disruptions. His views did not particularly endear him to the Jyoti Basu government of the day.
Friends say Poddar enjoys the confidence of Birla and is consulted on all major decisions, be they on operational issues or top management selection.
As a major player in the Federation of Indian Chambers of Commerce and Industry (Ficci) affairs today, Poddar is known to be close to Finance Minister P Chidambaram who has been a steadfast friend for many years.
