Veteran industrialist Adi Godrej on Tuesday handed over the baton of Godrej Group flagship firm, Godrej Consumer Products (GCPL) to his daughter Nisaba, who at 39 years is among the youngest women to head a large-sized Indianfirm.
Adi Godrej, 75, will become chairman emeritus after leading the company for 17 years as Nisaba, an alumnus of Harvard Business School, currently executive director of the company, assumes the new role of executive chairperson on May 10.For someone sharing her birthday with Abraham Lincoln, leadership, probably, comes naturally. She takes the rein at a time GCPL is on the verge of breaking the 50% mark when it comes to overseas revenue.
Godrej insiders say that Nisaba’s elevation was just a matter of time. It’s she, they say, who triggered a renaissance of sorts in the company. Her aptly named Project Leapfrog is what has enabled GCPL record a 10x jump in revenue and profit and a 20x jump in market capitalisation in the last 10 years.
Share of overseas revenues in the company’s total revenue during the same period, similarly, has gone up from almost negligible to over 48%. It’s not a coincidence that the year she joined the company’s board – 2011 – GCPL went on an acquisition spree, acquiring Tura in Nigeria, Megasari in Indonesia and Issue Group and Argencos in Argentina.
Nisaba is also credited with GCPL’s very successful 3×3 global strategy – focusing on the three emerging markets of Asia, Africa and Latin America, across the three categories of personal care, hair care and home care. Insiders claim it’s she who ensured that the company never went overboard with its inorganic growth strategy. Her focus was on established brands in markets similar to India that would not require huge brand building expenses. While GCPL owes a lot to Nisaba for its financial success over the last decade, one is sure that the vociferous advocate of LGBT rights is the perfect choice for taking the Godrej Group’s legacy forward.
GCPL Q4 Net up three-fold at `389.91 cr on strong sales
FMCG major Godrej Consumer Products (GCPL) on Tuesday reported over three-fold jump in consolidated net profit to `389.91 crore for the fourth quarter ended March 31, 2017 driven by strong sales growth in most categories.
The company, which today announced a change in leadership with appointment of Nisaba Godrej as Executive chairperson from May 10, 2017, had posted a net profit of `124.84 in January-March period a year ago.
GCPL’s net sales during the period under review was up 12.51% to Rs 2,480.17 crore as against Rs 2,204.36 crore of the corresponding quarter of the previous fiscal, the company said in a statement. Its total expenses during the period was at Rs 1,975.67 crore, up 10.99%, as against Rs 1,779.90 crore.