GODREJ FAMILY ANNOUNCES REALIGNMENT OF THEIR SHAREHOLDING IN GODREJ COMPANIES

Mumbai, April 30, 2024: The Godrej family today announced an ownership realignment of their shareholdings in the Godrej Companies. The realignment has been arrived at in a respectful and mindful way to maintain harmony and to better align ownership in acknowledgement of the differing visions of the Godrej family members. This will help maximize strategic direction, focus, agility, and will accelerate the process of creating long-term value for shareholders and all other stakeholders.

The realignment will be implemented after the relevant regulatory approvals have been obtained.

Godrej Group (GEG) comprises of Godrej & Boyce (G&B) and its affiliates, which have presence across multiple industries spanning Aerospace, Aviation, Defence, Engines and Motors, Energy, Security, Building Materials, Construction, Green Building Consulting, EPC Services, Intralogistics, Healthcare Equipment, Durables, Furniture, Interior Design, Architectural Fittings, IT, Software as well as Infrastructure Solutions. This group will now be controlled by Jamshyd Godrej, Chairperson and Managing Director, Nyrika Holkar, Executive Director, and their immediate families.

Godrej Industries Group (GIG), which includes the listed companies, Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet and Astec Lifesciences will have Nadir Godrej as Chairperson and will be controlled by Adi Godrej, Nadir Godrej, and their immediate families. Pirojsha Godrej will be the Executive Vice Chairperson of GIG and will succeed Nadir Godrej as the Chairperson in August 2026.

Commenting on the future outlook, Jamshyd Godrej said: “Since 1897, Godrej & Boyce has always been driven by the strong purpose of nation building. With this future-facing family agreement now in place, we can further drive our growth aspirations with fewer complexities and focus on leveraging our core strengths in high tech engineering and design-led innovation across our strong portfolio of strategic, consumer and emerging businesses.”

Nadir Godrej said “Godrej was founded in 1897 to help build economic independence for India. This deep purpose of innovating for a cause - the values of trust and respect and the belief in trusteeship and making communities that the companies operate in stronger and better - continue to form the bedrock of who we are 125 years later. We look forward to building on this legacy with focus and agility.”

Both Groups will continue to use the Godrej brand and are committed to growing and strengthening their shared heritage. The family members wish each other every success for the future.

About Godrej Group:
Since 1897, Godrej Group (which includes Godrej & Boyce and its affiliates) has contributed significantly to India’s economic growth and self-reliance by investing in complex engineering, design led innovation and more recently, carbon-lite manufacturing. Its innovations include the world’s first patented springless lock, and safes, refrigerators and typewriters made in India for the first time. It also paved the way for the growth of key sectors like aerospace, energy, and security with its core industrial capabilities with businesses spanning across the globe.

Today, with a market-leading presence across 14 established consumer, industrial and emerging businesses, Godrej & Boyce continues to make critical contributions to India’s space missions, clean energy goals, green construction and intralogistics landscape, as well as delivering on consumers’ growing aspirations with design-led and integrated smart solutions in furniture, appliances and security. Godrej is one of India’s most trusted brands serving customers worldwide.

About Godrej Industries Group:
The Godrej Industries Group (GIG) serves 1.1 billion consumers globally across businesses in diverse industries, including consumer products, real estate, agriculture, financial services and chemicals. Godrej was founded in 1897 to help build economic independence for India. We are committed to growing and strengthening this legacy of innovation for a cause; building for a more sustainable future, while placing our planet and people alongside profit.

GIG houses several rapidly growing businesses that are the leaders in their respective categories. Godrej Consumer Products (GCPL) is an emerging markets FMCG leader in Home and Personal Care with a growing presence in Asia, Africa and Latin America. Godrej Properties (GPL) is India’s leading real estate developer by sales and brings the Godrej philosophy of innovation, sustainability, and excellence to the real estate industry. Godrej Agrovet’s (GAVL) portfolio businesses address key challenges faced by Indian agriculture; improving the productivity of Indian farmers through innovative products and services that sustainably increase crop and livestock yields. Godrej Industries (Chemicals), the group’s oldest business, is India's leading manufacturer of oleochemicals and surfactants. Godrej Fund Management (GFM) is the real estate private equity arm of the group. Godrej Capital (GC), the newest company in the group, is a fast-growing financial services business.