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<keyword id="6359861" type="UNKNOWN" weightage="20" keywordseo="Veteran">Veteran</keyword> industrialist Adi Godrej will step down as chairman as well as from the board of directors of <keyword id="167591" type="COMPANY" weightage="20" keywordseo="Godrej-Industries-Ltd">Godrej Industries Ltd</keyword>, passing on the baton to his younger brother Nadir Godrej, effective October 1, according to a company statement. The 79-year-old industrialist will continue to serve as chairman of the <keyword id="133008" type="COMPANY" weightage="20" keywordseo="Godrej-group">Godrej Group</keyword> and chairman emeritus of GIL, said the statement. "Nadir Godrej, who is currently managing director of GIL, will take over as chairman and managing director of the company," it added. GIL is a holding company of the Godrej Group. It has significant interests in consumer goods, real estate, agriculture, chemicals and financial services through its subsidiary and associate companies, across 18 countries. Adi Godrej has served GIL for almost four decades. "It has been a privilege to serve <keyword id="113571" type="CITY" weightage="20" keywordseo="Godrej-Industries">Godrej Industries</keyword> for over four decades, during which we have delivered strong results and transformed our company," said Adi Godrej. He thanked the board for its support and guidance, his team members, business partners, shareholders, investors, and communities, for their continued partnership. "I am very confident that our best years are ahead of us, and I look forward to Nadir and our team achieving our exciting aspirations," Adi Godrej. In the statement, Nadir Godrej thanked his brother for his vision and leadership, which shaped the company. "On behalf of our team at Godrej Industries and our board, I want to thank our chairman for his vision, values and exceptional leadership that has guided and shaped our company. "Our leadership team is committed to building forward on these foundations; continuing to serve our people and communities, and creating long-term value for all our stakeholders," said Nadir Godrej said. On August 4, Adi Godrej announced to step down from the board of group's FMCG arm, Godrej Consumer Products Ltd (GCPL), effective next month. In GCPL, he already passed on the baton to his younger daughter Nisaba Godrej in 2017 as chairman. But, he will remain as chairman emeritus of the FMCG firm. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/india-now-has-four-edtech-unicorns-byju-unacademy-eruditis-upgrad/articleshow/85300757.cms">From Byju’s to Eruditus — India now has four edtech unicorns, thanks to a $4 billion funding inflow since 2020</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/realme-book-slim-laptop-launching-in-india-on-august-18-check-expected-price-and-specifications/articleshow/85299743.cms">Realme Book Slim laptop launching in India on August 18 – specs, expected price and everything we know so far</a>

Adi Godrej to step down as Godrej Industries' chairman and board of directors

New Delhi, Jul 15 () Over a century after making its first soap in 1918 during the Spanish flu pandemic, becoming the first company in the world to produce soap using vegetable oil instead of animal fat, Godrej Consumer Products Ltd (GCPL) is looking at 2020 as its 'second beginning', according to the company's executive chairperson Nisaba Godrej. Addressing shareholders in the company's annual report for 2019-20, Godrej described COVID-19 pandemic as "a health, humanitarian and economic crisis of epic proportions to contend with" for which the company would "need to do more of what we do and do it even better". Stressing that the company will not be deterred by the current crisis, she said, "Godrej was founded in a crisis; as part of India's freedom and swadeshi movement in 1897, and also during the bubonic plague that year." "We first made soap in 1918 (also the first soap in the world to be made from vegetable oil and not animal fat) during the Spanish flu pandemic. So, as we see it, 2020 could be our 'second beginning' for the next 123 years of Godrej." Reiterating the company's resolve Godrej said, "While we don't get to choose market conditions or the intensity of our competitors, and certainly not a global pandemic, we do choose our attitude in the face of these." She said "there is no denying that this is a bad situation. But, we are also fortunate that GCPL is an FMCG company with a robust portfolio to deliver in a COVID-19 world." 80 per cent of the company's product portfolio comprises health (household insecticides), hygiene, and value for money products, Godrej said, adding that "many of our innovations have started playing out fully in the last couple of months and we have seen high growth in household insecticides and hygiene." Admitting that the company's performance in 2019-20 "was not good", she said sales declined around 4 per cent and profit before tax (pre-exceptions) was flat. March 2020 was particularly impacted by the spread of the COVID-19 pandemic and the eventual lockdown in many geographies where the company operates. This resulted in virtually no sales in the latter part of the month, she added. In order to overcome the challenge of the current health crisis, she said, "The excellence we will require now, going against water rather than with water, to perform and take market share, means a significant step up in ways we probably haven't even realised yet." Godrej said 2020 will be the "Year of Resurgence" for GCPL's household insecticides business. "This is our largest and most critical category globally. We are going where the consumer demand is and the demand is to protect their health. We see this as a long-term area of focus," she added. Although the company struggled initially to meet demand, which has been very strong in the last couple of months, Godrej said, "We are scaling up our supply systems and have never had stronger portfolios across price points and formats, in India and Indonesia, to serve this." The company is also making a foray into this category in Africa, where it is still underserved, she added. In response to COVID-19, GCPL had launched sanitiser products across India and SAARC, Indonesia, Africa, Latin America, and US in just a few weeks. "In many of these markets, it was the first time we were entering the category. We will now be scaling these up into full portfolios with multiple product offerings," she said. Stating that India and Indonesia make up roughly 70 per cent of the company's overall business, she said, "There are significant opportunities for growth here, especially given the current consumer demand trends, and we are well poised to leverage this." Godrej also said GCPL has "big dreams" for Africa, one of its largest investments outside India, although its performance over the last few years there has not been up to the mark. "Africa has a young, fast-growing, urbanising population with growing aspirations. There is much to yet start unearthing as infrastructure, industrialisation and digital leapfrog. We see tremendous opportunity here, to innovate and grow sustainably both in hair care and household insecticides, while also 'doing good'," she said. RKL RVK

Godrej Consumer sees 2020 as 'second beginning' for co

Internship programs help companies make better hiring decisions and also provide great insights for students so that they make more informed recruitment decisions. 
 For years, Gurukul, <keyword id="6369697" type="COMPANY" weightage="100" keywordseo="Godrej">Godrej</keyword>’s two-month internship program, has been a source of business school talent for the company. As part of Gurukul, students work on real-time, live projects across the different business of Godrej. The company invests significantly in mentoring for all its interns and also has buddy program to help interns better integrate with the teams at Godrej. 
 
<a href="http://www.businessinsider.in/Exclusive-AdvantEdge-Partner-Kunal-Khattar-on-why-Failure-should-be-Celebrated-in-an-Entrepreneurs-Risky-Life/articleshow/58530868.cms">ALSO READ: Exclusive: AdvantEdge Partner, Kunal Khattar on why Failure should be Celebrated in an Entrepreneur’s Risky Life</a> 
 
On an average, around 40 per cent of the Gurukul batch receives pre-placements offers for Gallop, Godrej’s management trainee program. 
 <keyword id="113571" type="CITY" weightage="20" keywordseo="Godrej-Industries">Godrej Industries</keyword> welcomed its 87 interns across 11 B-schools with immense grandeur this year. The welcome program was spread across 2 days. Day 01 was dedicated to the fun activity called The Amazing Race while Day 02 consisted of formal welcome notes from senior leadership across businesses of Godrej. Nisaba Godrej, Executive Director at <keyword id="133008" type="COMPANY" weightage="20" keywordseo="Godrej-group">Godrej Group</keyword>, and <keyword id="218886" type="PERSON" weightage="20" keywordseo="Vivek-Gambhir">Vivek Gambhir</keyword>, ‎Managing Director at GCPL among other senior leaders answered queries of the new joiners. 
 
<a href="http://www.businessinsider.in/The-International-MetLife-Foundation-Inclusion-Plus-Competition-has-awarded-this-startup-100000/articleshow/58531903.cms">ALSO READ: The International MetLife Foundation Inclusion Plus Competition has awarded this startup $100,000</a> 
 
Check out the pictures from the program.

See why Godrej's
internship program is a great option for college students

For India Inc, <keyword id="70846" type="ORGANIZATION" weightage="20" keywordseo="Harvard-Business-School">Harvard Business School</keyword> has Jay Kotak, the elder son of Uday Kotak, senior vice chairman and managing director of Kotak Mahindra Bank, prepares to be attend the coveted Harvard Business School, BI India lists down a five such next gen business leaders who are alumni of this Ivy League School. 
 
Images: Indiatimes.com

5 junior India Inc business
leaders who are Harvard alumni

Just like Harry Potter and his friends went to Hogwarts to learn their wizardry, junior <keyword id="46431" type="CITY" weightage="80" keywordseo="India-Inc">India Inc</keyword> is heading to <keyword id="70846" type="ORGANIZATION" weightage="80" keywordseo="Harvard-Business-School">Harvard Business School</keyword> by the hordes, to learn the 'tricks' of the trade that will eventually help them help their illustrious parents in their multimillion dollar business ventures. And even as <keyword id="2601661" type="UNKNOWN" weightage="80" keywordseo="JAY-KOTAK">Jay Kotak</keyword>, the elder son of <keyword id="45051" type="PERSON" weightage="80" keywordseo="Uday-Kotak">Uday Kotak</keyword>, senior vice chairman and managing director of Kotak Mahindra Bank, prepares to attend the coveted business school, he will be joining many amongst India Inc's 'future'. BI India lists down five such second generation leaders who learned to swish their magic wands at Hogwarts..err.. <keyword id="53675" type="ORGANIZATION" weightage="80" keywordseo="harvard">Harvard</keyword>. 
 
Rishad Premji 
Rishad Premji, the current chief strategy officer and the head of Investor Relations &amp; Corporate Affairs, joined Wipro in 2007 as a manager in the financial division of the company. Armed with a MBA degree and BA degree in Economics from Wesleyan University, the junior Premji and is all set to join the board of the company from May 1. 
 
<keyword id="155327" type="PERSON" weightage="80" keywordseo="Rohan-Murty">Rohan Murty</keyword> Rohan Murty, son of Infosys founder <keyword id="745832" type="UNKNOWN" weightage="80" keywordseo="Narayanan-Murthy">Narayanan Murthy</keyword>, created a quite a stir when he joined the company in 2013. He joined the company as executive assistant to the Murthy. He pursued his PhD in Computer Science from Harvard Business School and is also a junior fellow in the Society of Fellows at the university. 
 
Aditi Kothari 
Daughter of investment banking veteran Hemendra Kothari, Aditi joined the group after completing her post graduation in business administration from Harvard. She is an Economics graduate from the Wharton School of the University of Pennsylvania. Currently, she is the head of Marketing at DSP BlackRock Investment Managers. 
 
Tanya Dubash Tanya Dubash, the eldest daughter of Adi <keyword id="6369697" type="COMPANY" weightage="80" keywordseo="Godrej">Godrej</keyword>, is currently the executive director and chief brand officer at Godrej Group. She is responsible for spearheading the conglomerate’s marketing functions. Dubash has an AB degree with Economics and Political Science from Brown University and pursued Advanced Management Programme from Harvard. 
 
Nisaba Godrej 
The younger daughter of Adi Godrej, Nisaba, popularly known as Nisa, serves as the head for innovation strategy at the Godrej Group. She went to Harvard to study MBA and if reports are to be believed, she was fixated on India. Once back, she joined Godrej Agrovet and turned the tables for the company.

5 India Inc scions who went to Harvard to learn the 'tricks'

New Delhi, Jan 29 () FMCG major Godrej Consumer Products Ltd (GCPL) on Wednesday reported a 5.11 per cent increase in consolidated net profit at Rs 445.20 crore in the third quarter ended December, helped by volume growth in domestic business.
 The company had posted a net profit of Rs 423.52 crore in October-December quarter a year ago, GCPL said in a BSE filing.
 Total income during the quarter under review stood at Rs 2,801.57 crore, 1.99 per cent lower as compared with Rs 2,746.65 crore in the year-ago period. 
 The company's total expenses rose 1.28 per cent to Rs 2,244.16 crore as against Rs 2,215.79 crore a year ago. 
 Commenting on the results, GCPL Executive Chairperson Nisaba Godrej said, "We delivered a steady performance in the third quarter of fiscal year 2020. Our India business delivered a robust volume growth of 7 per cent alongside gaining market shares across major categories, amid further deterioration in staples consumption."
 GCPL's India revenue rose 1.21 per cent to Rs 1,523.87 crore during October-December from Rs 1,505.64 crore in the corresponding quarter a year ago.
 The company's revenue from Indonesian market rose 13.32 per cent to Rs 448.22 crore as compared with Rs 395.51 crore in the year-ago period. 
 "In our international businesses, Indonesia continued its strong performance with high single digit profitable sales growth driven by a consistent performance across categories and several go-to-market initiatives," Godrej said.
 Africa (including Strength of Nature) sales were marginally lower at Rs 678.70 crore as against Rs 682.30 crore a year ago.
 "In GAUM (Godrej Africa, USA, Middle East), we saw a sales recovery with higher than mid-single digit constant currency sales growth. The performance was driven by an improved performance in our South and West Africa cluster," she said.
 "We continue to drive the scale up of the wet hair care business and the relaunch of the Darling brand in the dry hair category, along with expansion in distribution across GAUM," Godrej added.
 Revenue from other markets was 3.23 per cent lower at Rs 161.12 crore as against Rs 166.50 crore in October-December a year ago.
 The company also informed that its board has declared an interim dividend of Rs 2 per share for financial year 2019-20.
 Shares of Godrej Consumer Products Ltd on Wednesday closed 0.87 per cent higher at Rs 742.10 on the BSE. KRH RVK

Godrej Consumer Products Q3 net profit up 5.11 pc to Rs 445.20 cr

New Delhi, May 13 () FMCG major Godrej Consumer Products Ltd (GCPL) on Wednesday reported an over 75 per cent drop in its consolidated net profit at Rs 229.90 crore in the fourth quarter ended March 2020, hit by disruptions in sales amid the COVID-19 outbreak. The company had posted a net profit of Rs 935.24 crore in the January-March quarter a year ago, GCPL said in a BSE filing.Its net sales were down 12.22 per cent to Rs 2,132.69 crore during the quarter under review as against Rs 2,429.68 crore in the corresponding period of the last fiscal.GCPL's total expenses were at Rs 1,791.93 crore as against Rs 1,974.73 crore, down 9.25 per cent.Commenting on the results, GCPL Executive Chairperson Nisaba Godrej said: "This quarter was an unprecedented period due to the spread of the COVID-19 pandemic across the globe, impacting all the geographies of our operations."GCPL's India revenue rose 17.85 per cent to Rs 1,113.94 crore during the January-March period from Rs 1,356.09 crore in the corresponding quarter a year ago."The spread of the virus and the eventual lockdown in many geographies of our operations resulted in virtually no sales in the later part of March 2020, significantly impacting our sales performance in the quarter. This resulted in a weak performance in our India business, although we have continued to gain market shares across categories," said Nisaba.According to the company, its India business sales declined 18 per cent year-on-year, led by 15 per cent year-on-year decline in volume.However, its revenue from Indonesian market moved up 8.94 per cent to Rs 449.36 crore as compared to Rs 412.47 crore in the year-ago period."In our international businesses, Indonesia continued its strong growth momentum with mid-single digit profitable constant currency sales growth in spite of the COVID-19 crisis, driven by a consistent performance across categories and several go-to-market initiatives," she said. Revenue from Africa (including Strength of Nature) market is down 17.55 at Rs 484.03 crore as against Rs 587.09 crore a year ago."In GAUM (Godrej Africa, USA, Middle East), we witnessed a weak sales performance amidst disruptions caused by COVID-19 in many of our countries of operations," Nisaba added.While revenue from other markets was marginally down at Rs 135.90 crore as against Rs 136.74 crore in January-March of FY 2018-19.According to the company, in view of lockdown in the country, operations in many of our locations (manufacturing, warehouses, offices, etc) are scaled down or shut down from second half of March 2020."Going forward, we are ramping up our supply chain operations and distribution, in line with the prescribed safety measures and easing of lockdowns in various countries. Since the situation is very dynamic, our teams are continuing to manage our business prudently, while assessing various scenarios for business recovery," she said. "We will continue to focus on driving our market share and launch relevant innovations to enhance our competitiveness."GCPL's profit before tax for the January-March quarter was 337.39 crore as against Rs 500.57 crore in the corresponding quarter a year earlier."During the year to date, there has been sale of certain brands within the group's entities that shall derive benefits of future tax deductions for the group. Consequently, a deferred tax asset amounting to 113.82 crore has been recognised in the consolidated financial results," it saidFor the fiscal year 2019-20, GCPL's net profit was Rs 1,496.58 crore, down 36.08 per cent. It was Rs 2,341.53 crore in the previous year.Its net sales in the fiscal stood at Rs 9,826.51 crore, down 3.86 per cent. It was Rs 10,221.07 crore in 2018-19.Shares of Godrej Consumer Products Ltd on Wednesday settled at Rs 534.55 apiece on the BSE, up 3.24 per cent from their previous close. KRH MKJ

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