The Saroj Poddar-controlled Adventz Group, which unveiled a corporate brand last month, plans to follow this with some restructuring. It may see the group settling for a holding company structure, Poddar said in a recent interview.
‘‘We would like a holding group structure, like Adventz Holdings, owning equity in most of the companies, directly or indirectly through subsidiaries. That’s what we are looking at and will get there one day,’’ said Poddar, the Group chairman.
He controls almost 50 per cent holding in most group companies. That includes fertiliser major Zuari Industries, railway freight car manufacturer Texmaco Rail and Engineering, engineering firm Simon India and Style Spa Furniture, among others.
In some ways, the restructuring has already been kicked off. Texmaco, the company with which founder K K Birla began his entrepreneurial journey in 1939, has already been spun into two: Texmaco Ltd will house its real estate business and investments, and Texmaco Rail & Engineering Ltd all the rail and rail-related joint ventures.
Next, the group could consolidate its real estate businesses. Today, Zuari Industries is developing a 75-acre project in Mysore, Poddar’s private investment firm is developing some real estate and Texmaco is also developing some real estate. ‘‘Should we not have a common denominator? This is what the brand does,’’ he said.
Will this happen soon? ‘‘It will take a little time. We have just set the ball rolling by launching Adventz, and we are working towards this group structure,’’ said Poddar. Consolidation of ownership will also automatically happen over time, he added.
Adventz could also reshuffle its key people. Poddar says that will happen, though not for now. ‘‘Over a period of time, yes, why not? We have to give our people different opportunities and challenges,’’ he said
Last month, Poddar unveiled Adventz, a new corporate brand for the group. He wants group companies like Zuari and Texmaco, who have been working independently, to work together with a common logo, values and finances, and would like to see all key resources are integrated – management, finance and human resources.
