Page 2 - Godrej

Nisaba Godrej resigns as independent director from VIP Industries board

Godrej Consumer's executive chairperson Nisaba Godrej has resigned as an independent director from the board of luggage and travel accessories maker VIP Industries, citing differences over leadership accountability and succession planning. The resignation of Godrej group scion as an independent director came on June 3, VIP Industries said in a stock exchange filing on Tuesday. Godrej in her resignation letter said: "Due to my differing view on leadership accountability and succession planning, I will be resigning from the Board effective June 3rd, 2024." The board of VIP Industries is led by Dilip Piramal as Chairman of the Rs 2,250-crore company. Nisaba Godrej was reappointed to the board of VIP Industries in April 2021 as an independent director and her term was ending on March 31, 2026. She attended all five meetings held in FY23 and has voluntarily waived off receipt of sitting fees for any meetings attended by her, said the annual report of the company. In her resignation le

Godrej re-appoints Tanya Dubash as executive director, chief brand officer

The company also said that Dubash is not barred from holding the office of director by virtue of any order of the Securities and Exchange Board of India (SEBI) or any other such authority

Godrej Properties reduces net debt by 10% in Q4 on strong cash flow

Realty firm Godrej Properties has reduced its net debt by 10 per cent in the latest March quarter to nearly Rs 6,200 crore on strong sales and collections of funds from customers, its executive chairperson Pirojsha Godrej has said. In an interview with PTI, Pirojsha said, "We have reduced our net debt by Rs 700 crore during Q4 (January-March quarter of 2023-24) because of strong operating cash flow." The company's net debt stood at Rs 6,198 crore as on March 31, 2024 as against Rs 6,903 crore at the end of the preceding quarter. Pirojsha attributed the reduction in the net debt to strong cash collections from customers. "We have reduced net debt even as we continue to acquire land parcels for future development," he observed. Asked about the guidance for net debt in the current 2024-25 fiscal, Pirojsha said, "Our debt equity ration was 0.62 at the end of the March quarter. We would like to keep our gearing ratio between 0.5 to 1:1." The net debt level may increase or decline in

Impact of divisions in family businesses: Motivations and consequences

By embracing a proactive stance towards addressing emerging challenges, family conglomerates such as Godrej could potentially have emerged as global powerhouses

Godrej family begins process to untangle cross-holdings in listed entities

Adi/Nadir family to acquire 20.84% in Godrej Inds from Jamshyd/Smita family, and another 12.65% from RKN Enterprises via block deals

This Godrej billionaire has decided to gift most of his shares to family

An author and a conservatist, Rishad Kaikhushru holds shares in several listed and unlisted Godrej companies worth Rs 7,050 crore

Transfer of baton: New-gen leaders to take the reins as Godrej group splits

Each family may sell the shares it holds personally and/or via trusts to the other family in tax-neutral transactions

Godrej split: Experts weigh on amicable settlement impact on stock prices

Say stock prices will react positively as key overhang removed

Adi-Nadir Godrej family makes open offer to acquire Astec Lifesciences

To acquire 20.84% stake in Godrej Industries from Jamshyd Godrej family

Best of BS Opinion: A Chinese invasion of the auto landscape & more

Here is the best of Business Standard's opinion pieces for today

Multi-billion dollar Godrej family split may not attract tax, say lawyers

A family settlement is defined as an arrangement between members of the family with the intent to avoid disputes

Preserving a brand

Amicable Godrej split has a lot riding on it

Godrej Group division: Here's a look at 127-year-old history of the company

From steel locks to Cinthol soap, here is a look at the group that once played a role in the Swadeshi movement

Godrej family amicably splits 127-year-old conglomerate into two groups

Adi Godrej family gets control of listed entities while cousin Jamshyd to own Godrej & Boyce and land bank

Godrej family splits group; divides businesses, assets between Adi, Jamshyd

In the statement, the Godrej family termed the split as 'an ownership realignment' of the shareholdings in the Godrej companies

Godrej Electricals & Electronics secures orders over Rs 1,000 cr in FY'24

Godrej Electricals & Electronics on Thursday said it has secured orders worth over Rs 1,000 crore in financial year 2023-24 in power and infrastructure business. These orders predominantly entail both Air Insulated Switchgear (AIS) and Gas Insulated Switchgear (GIS) substations across India, with certain projects of up to 765kV capacity, a company statement said. Each of these projects range from Rs 100 crore to Rs 400 crore in value, it added. We are delighted with our recent order acquisitions, which further solidify our presence in the segment of over 400kV," Raghavendra Mirji, Executive Vice President & Business Head, Godrej Electricals & Electronics said. Mirji further noted that securing the inaugural 765kV GIS order for execution at Khavda, in Gujarat marks yet another significant milestone for the company, symbolizing its dedication to pushing the boundaries of technological advancement. Mirji said, "majority of our orders secured in FY 2023-24 pertaining to ...

Godrej Properties buys land in Hyderabad for Rs 1,300 cr housing project

This is the company's second land acquisition in Hyderabad, which will take the overall booking value potential added in the city to Rs 4,800 crore

'Companies can be isles of inclusion, have people of all castes, religion'

Godrej Consumer Products chairperson Nisaba Godrej on Tuesday pitched for India Inc to be an "isles of inclusion" by having more representative workforces. Speaking at a special event organized by the Godrej Group in the run-up to International Women's Day, Godrej said there is also a need for making workforces more gender-balanced. "You know there is whole thing on religion, caste and there is so much going on in India but we should be more representative of the country," she said. Corporate India should also be talking more on parenting, caregiving and taking care of the elderly people, she said, adding that if need be, share the same with the government as well. Godrej also said that there are challenges on the employment front and the government needs to do more on this. "I think we have a jobs issue which the government needs to sort out," she said, voicing worries on the decline in labour force participation among women. Stressing on the need to disaggregate the data by sta

Godrej plans stake sale in food JV; in talks with potential investors

In talks with potential investors, including PE firms; valuation of company not disclosed

Godrej Appliances expects 20% growth in AC, refrigerator sales this summer

Homegrown white goods major Godrej Appliances on Tuesday said it expects at least a 20 per cent growth in sales of air conditioners and refrigerators during the summer season. The city-based company is the fourth largest air conditioner brand with 0.7 million units sales and the fifth when it comes to refrigerators with 1.8 million sales in the country. "We expect the summer to be scorching this year after an extended winter and this should help us clock at least 20 per cent uptick in volume for both ACs and refrigerators. "Last year, our AC sales more than doubled," Kamal Nandi, executive vice president and business head at the Godrej Appliances told PTI here on Tuesday. He was speaking on the sidelines of the launch of its new range of wood-finish and natured-inspired refrigerators and air conditioners. Nandi said he expects at least 10 per cent of incremental volumes to come in from these new products which will command a 5 per cent premium over its existing products. While it