Godrej: new initiatives

The 119-year-old Godrej Group which deals in the FMCG (fast moving consumer goods) to engineering goods is ready to focus on the defense equipment sector in a significant way. Adi Godrej, chairman of the Group was quoted in the Hindustan Times of May 11, 2015 as saying that the objective will be to supply defense items to international companies that wish to come here (to Make in India). "If necessary, we will partner with them,” he said, adding that it was too early to tell what shape these partnerships would take.

New range of refrigerators from Godrej; involvement with

aerospace projects

Godrej Aerospace develops critical, high precision spacecraft components and executes major aerospace projects, counting many global entities including Rolls-Royce among its clientele. The company delivered its first liquid propulsion engine for satellite launch vehicles as far back as 1993. They manufacture Vikas engines that power Indian Space Research Organisation’s (ISRO) rockets and will also make semi-cryogenic engines for the space agency. "Even the recent launch to planet Mars was powered by one of our cryogenic engines,” the chairman told Daily News and Analysis (DNA) of May 8!
The website of the company states that their approach is "to leverage their experience of manufacturing and delivering flight-worthy engines and other assemblies that utilize their manufacturing and infrastructure processes.”
In keeping with its core philosophy of Brighter Living ("our determination to dazzle and delight you with innovative products and services that you can trust completely” as the Group’s website describes) Godrej Appliances has entered the super premium segment across refrigerators, air conditioners, washing machines and microwave ovens with the launch of a new brand NXW (Next World). Early in May 2015, the company launched a new range of refrigerators in Bombay, with more launches of the brand in other categories expected later in the year.
"We are eyeing a 15% market share of the Rs 2,000 crore super premium market in refrigerators in the next three years,” executive vice president, Godrej Appliances, Kamal Nandi was quoted as saying in The Hindu of May 6.
The company which is fourth in terms of market share for refrigerators (with LG, Samsung and Whirlpool holding the top three spots) has launched a range of three patterns — Inox, Cosmos and Platina — with "Just the right temperature” (JTRT) technology. The units are priced between Rs 49,000 and Rs 79,000 each. The NXW range allows users to customize their refrigerator by storing food in three flexible temperature zones. An elaborate audiovisual presentation on the company website allows one to understand the technology and the features available, including motion sensor lighting and the touch screen panel.
The super premium segment for appliances, especially in the cooling categories is growing much faster than other segments, despite a slowdown in the last three years, stated Nandi. "In the last three years, while the overall industry growth has been flat, the super premium segment has grown 27% in the financial year 2015,” Nandi said, adding that in the refrigerator category, overall sales grew by 33% last year and the super premium segment grew by nearly 50%.