History of Godrej Industries Ltd.
1988
- The Soaps limited was incorporated on 7th March, & obtained the Certificate of Commencement of Business on 24th March. It was promoted by the Godrej Group [the major companies in the group being Godrej Soaps limited & Godrej and Boyce Mfg. Co. Ltd.s] along with Gujarat Industrial Investment Corporation limited [GIICs] in the associate sector. The Comp. manufacture alpha olefins, its precursors & derivatives.
- The Comp. undertook to set up a project for manufacture of 35,000 tonnes per annum of alpha olefins, its precursors and derivatives for which an industrial licence was already in hand.
- The product in the range C14 & C18 are used in the soap and detergent industry in the form of alpha olefin sulphonate [AOSs].
- The Comp. entered into techical collaboration with Lurgi GmbH, West Germany, a leading supplier of fatty alcohol technology. Lurgi agreed to provide overall performance guarantee, design engineering, licence and know-how, personnel legation & equipment supply.
- Another agreement was entered into with Godrej Soaps Ltd., for using the know-how of making AO from fatty alcohols.
1989
- 2,18,00,000 shares issued at par out of which 1,70,92,000 shares were reserved for firm allotment to promoters, directors, etc., including 25,00,000 shares to NRI associates of promoters on repatriation basis. [The unsubscribed portion of 6,99,2000 shares by NRIs taken up by Indian promoterss] & 47,08,000 shares allotted to GIIC. 12,78,700 shares were allotted to retain oversubscription. 1,20,75,000 No. of equity shares allotted on conversion of Part A of convertible debentures on 15th February, 1990.
1990
- In January, the Comp. issued 21,00,000-12.5% partly convertible debentures of Rs 150 each at par. Of these, the following were reserved for preferential allotment - 2,31,000 to mutual funds/financial institutions/banks [only 1,32,700 debentures taken ups], 1,05,000 to employees including directors/workers of Comp. and promoter companies & 4,00,000 to NRIs/persons of Indian Origin resident abroad on repatraition basis.
- The remaining 13,64,000 debentures along with the 1,28,060 debentures not taken up under preferential quota, were offered to the public. 3,15,000 additional debentures were allotted to retain oversubscription.
- Part A consisting of convertible portion of Rs 50, Part B consisting of convertible portion of Rs 50 & Part C consisting of a non-convertible portion of Rs 50. Part A will be compulsorily converted into 5 equity shares of Comp. at par on allotment of the debenture. Part B will be converted into 5 equity shares at par on 31st March, 1991. Part C will be redeemed at par in two equal instalments at the end of 8th & 9th year from the date of allotment.
- The Comp. also issued 12,10,000-14% secured non-convertible debentures of Rs 100 each to the Indian public. Only 11,695 debentures were taken up. The remaining 11,98,305 debentures devolved on the underwriters. These debentures will be redeemed at a premium of 5% in two instalments of Rs 50 & Rs 55 at the end of 8th & 9th year from th date of allotment respectively.
1993
- During February-March, the Comp. offered 236,14,385 Right equity shares at a premium of Rs 14 per share in prop. 1:2. Only 153,05,942 shares taken up. 82,77,420 shares devolved on underwriters. 31,023 shares remained unissued. Another 11,80,719 shares issued to employees on an equitable basis.
- The Comp. was newly launched brand 'Godrej Ganga', an innovative soap which is produced by using water from the river Ganga.
- The Comp. made an issue of 77,50,000 No. of equity shares of Rs. 10 each at a premium of Rs. 130 per share aggregating Rs. 108.50 crore.
- The Comp. has proposed to invest upto 74% in the equity of 'Godrej Oil Palm Konkan Ltd.' a joint sector Comp. set up in collaboration with the Development Corporation of Konkan Ltd. - It is also proposed to set up a wholly owned overseas subsidiary 'Godrej International Ltd.' for increasing the Company activities in the area of international trade.
- Godrej Agrovet Limited [GAVLs] became a subsidiary of Company. Ensemble Holdings and Finance limited had also become a subsidiary of the Company, since EHFL was then a subsidiary of GAVL.
1994
- Effective 1st April, Gujarat Soaps limited [GSLs] amalgamated with Gujarat Godrej Innovative Chemicals Ltd.[GGICLs]. The name of the amalgamated Comp. was changed to GSL.
- The shareholders of GSL were issued shares in the Comp. in the ratio of one share for every share held in GSL. Accordingly they were consolidated into 70,84,433 No. of equity shares of Rs 10 each. Out of this, shareholding after reduction, of erstwhile Godrej Soaps Ltd. comprising 3,18,080 No. of equity shares 10 each of capital were cancelled subsequent to amalgamation.
- 'Cinthol fresh' was introduced as a new variant of brand of 'Cinthol'.
- The Comp. acquired major shareholding of TDPL, manufacturers of mosquito mats & household insecticides in India.
- The Company Malanpur factory was named 'Burjorjinagar' in memory of late Dr. B.P. Godrej.
- The Comp. participated in the launch of several new products under the strategic alliance with Procter and Gamble. The most significant was the introduction of 'Camay' which is now available in three variants, 'Natural', 'Classic' & 'Popular with milk cream'.
- The consumer products division of Comp. relaunched Godrej Shaving Cream, & 'Cinthol Talcum Powder' in two new variants - 'Classic' & 'Satin'.
- The formalities of amalgamation of Godrej Soaps Limited with Gujarat-Godrej Innovative Chemicals Limited with effect from 1st April.
1995
- New ultra modern Toilet Soap finishing lines of 48 TPD capacity each was installed at Vikhroli & Malanpur factories. Also a new sophisticated fatty Acid Distillation plant of 75 TPD capacity was installed at Vikhroli.
- The Comp. entered into a joint venture & technical assistance agreement with Siat S.A., a Belgian Comp. in respect of Oil Palm Plantations business of Comp. in Andhra Pradesh.
- The Comp. entered into an agreement with Sara Lee DE/NV for securing an equity participation of Sara Lee in Transelektra, the largest manufacturer of mosquito mats in the world.
- 1,99,42,927 bonus equity shares issued in prop. 1:2. Preference shares issued during the year.
1996
- The Comp. entered into an agreement with Sara Lee DE/NV for securing an equity participation of Sara Lee in Transelektra.
- The Comp. has invested in Godrej Pillsbury Pvt Ltd, a joint venture company between Godrej Foods Ltd, & Selviac Nederland B.V., a wholly owned subsidiary of Grand Metropolitan Public Limited Comp. of U.S.A.
1997
- The Comp. has set up a new factory at Silvassa for manufacturing of Hair Dye which commenced production in November.
- Godrej Soaps has launched Doodh Ganga soap.
- Godrej Agrovet is a wholly owned subsidiary of Godrej Soaps.
1998
- 'Cinthol Ultimate' & 'Cinthol Scent Fresh' were introduced. The Cinthol International range was relaunched with deodorant & in new metallic wrappers.
- The Comp. is in the process of entering into an agreement with National Securities Depository Ltd.,
- Godrej Soaps Limited, a leading manufacturer of soaps and toiletries in India, has been awarded the coveted CHEMEXIL Export Award.
- Godrej Soaps is the third largest soap Comp. after HLL & Nirma.
- The Comp. entered into a joint venture with Procter and Gamble [P&Gs], keeping in mind the marketing skills of multinational & Godrej's manufacturing & distribution prowess.
1999
- 'Ganga' was relaunched with a new advertisement campaign during the year. An innovative scheme 'Gold Rush' was operated during the year on all variants of 'Cinthol'.
- The Comp. has set up the 'Godrej Hair Care Institute' with objectives of understanding the needs of Indian consumer, developing specific products to meet these needs & to interact with and educate consumers & professionals in the industry.
- Godrej Soaps Ltd., launch of 'colour soft' hair colour in three natural shades.
- Godrej Soaps launched a new soap called Fair Glow.
2000
- Godrej Soaps Ltd has decided to enter into a profit-sharing agreement with its employees as part of its restructuring programme.
- The Comp. has set up a dedicated hair care institute, at Vikhroli, Mumbai. The Comp. has decided to set up three more such centres in Delhi, Bangalore & Chennai.
- The Comp. has launched yet another new product under the brand name - Godrej Nikhar.
- Godrej Soaps Ltd is aiming to increase its stake beyond the present 26 per cent in Godrej Pillsbury Ltd, the joint venture Comp. with Selviac Nederland BV, set up to manufacture & market wheat flour based products under the Pillsbury brand.
- Mr. Adi Godrej has been elected as the new Chairman of Godrej Soaps Ltd.
- The Comp. launched FariGlow Fairness Cream in Chennai.
- The Comp. & Associate Companies have launched `Godrej Bargainz' - the first-ever online sales promotion by any FMCG Comp. in India.
- The Comp. proposes to split its business into two entities and divest its stake in Godrej Sara Lee limited to the public.
- Godrej Hair Care Institute has launched a shampoo specially formulated for coloured/dyed hair Godrej Colour Gloss Shampoo.
- Godrej Soaps has joined hands with Western Railways to launch the `FairGlow Express' - a local train in Mumbai which has been painted in the brand own colour of Lilac & Pink.
- Godrej Soaps has ventured into a new category of oil-based liquids in hair dyes with 'Godrej Kesh Kala'.
- The Comp. has tied up with Set MAX Television to sponsor the exclusive live telecast of 'singapore Challenge Cup'.
- Godrej Hair Care Institute has launched a new shade of colour in its colour soft range of hair dye.
- The Comp. has rolled out a therapeutic soap called Allcare & has made its foray into the healthcare segment in the toilet soap category.
- FMCG major Godrej Soaps has tied up with US management consulting firm Stern Stewart and Comp. to incorporate EVA framework in its system.
- FMCG major Godrej Soaps has tied up with US management consulting firm Stern Stewart and Comp. to incorporate EVA [Economic Value Addeds] framework in its system.
- The Comp. proposes to hive-off its consumer products business as a going concern to a new Comp. -- Godrej Consumer Products.
- Godrej Soaps has set up a committee to improve & leverage distribution in the rural markets of less than 5000 population strata.
2001
- Godrej Agrovet Ltd., a subsidiary of Godrej Soaps Ltd & a leading player in the animal feeds & agricultural inputs market, has entered into a joint venture agreement with Hindustan Lever limited to acquire 74 per cent in Goldmohur Goods and Feeds Ltd.
- The shareholders of Comp. have approved scheme of arrangement between the Comp. & Godrej Consumer Products Ltd for demerger ofthe consumer products division of hte Comp. to GCPL.
- Godrej Soaps has acquired its brands for toilet soaps, chemicals, soaps, cosmetics & other products manufactured & marketed and/or distributed by it from its holding company, Godrej and Boyce.
- Godrej Soaps limited has launched Godrej Fairglow fairness cream in a sachet in Maharashtra, Gujarat, Madhya Pradesh, Tamil Nadu, Karnataka, Kerala & Andhra Pradesh.
- Godrej Soaps limited has changed its name to Godrej Industries Ltd. after completion of its demerger on April 1 & inducted three new directors on its board.
- Godrej Industries' shareholders have approved the demerger of the manufacturing division of Godrej Food into the former.
- Godrej Industries limited has acquired Girikandra Holiday Homes & Resorts Pvt Ltd.
2002
-High court approves for scheme of demerger of manufacturing division of Godrej Foods Ltd into Godrej Industries Ltd.
-Board approves the scheme of purchase & consequent cancellation of equity shares of company.
-Ties up with Karnataka Milk Federation for marketing their 'Nandini' brand of ghee.
-Delhi High Court passes an order to the Comp. to stop displaying it in any manner bearing reference to Parele products.
-Board approves for sale of its Mysore unit situated at Hebbal Industrial Ares Metagalli, Mysore.
-Completes the purchase of shares pursuant to the scheme of arrangement between the Comp. & its shareholders.
-Appoints Visty Banaji as Human Resource Head.
2003
-Mr C K Vaidya resigns as the Executive Director on the Board of company.
-Withdraws unbranded edible oil from the market.
-Acquires 4.73% of total share capital of Godrej Consumer Products Ltd.
-Introduces 'Sunshakti' brand in the sub-premium & premium category of edible oils in Maharashtra & Karnataka.
-Godrej & Boyce Mfg. Co. limited [G&Bs], one of promoters of Comp. have sold on December 02, 2003 10,00,000 equity shares of Comp. to other promoters, by way of interse transfer of shares under Regulation 3[1s][es] of SEBI [Substantial Acquisition of shares & Takeoverss] Regulations, 1997
2004
-Godrej Industries Ltd has informed that the Comp. has received a notice from Godrej Consumer Products Ltd [GCPLs] for termination of processing agreement w.e.f. April 1, 2004.
-Godrej launch 'Sofit'
-Equity shares delisted from Delhi Stock Exchange
-Avestha Gengraine partners with Godrej Ind
2005
-Godrej picks up US BPO firm
2006
-Godrej Industries signs deal with Godrej Tea for transfer of foods business
