Godrej Aerospace (GA), a business unit of Godrej and Boyce (GB) has "played a critical role” in the Indian Space Research Organisation’s (ISRO) July 22, 2019 launch of Chandrayaan 2, India’s second mission to the moon. A press release from the Godrej Group dated July 22 noted that the Group’s contribution to the mission includes critical equipment such as engines (including one for the launcher), thrusters and antenna. Launched from Sriharikota in South India, the mission is expected to land near the moon’s south pole, an uncharted territory, in the first week of September 2019.
Commenting on the achievement, Jamshyd Godrej, chairman and managing director of GB noted that "all the stages of the rocket are designed and manufactured in India.” Complimenting the ISRO team "on its most complex mission so far,” Jamshyd noted that the Group’s partnership with the Organisation spans many decades.
The Group website notes that "with more than 30 years of experience in metallic manufacturing for aerospace parts, GA is now ready to enter into the non-metallic side of the aerospace industry.”
Several Indian companies have contributed to the success of the Rs 978 crore Chandrayaan 2 mission, noted a report in the Business Standard of July 23, naming, besides GA, engineering giant Larsen and Toubro and others who supplied hardware and testing solutions.
Above left: First mission to explore lunar terrain with home-grown technology
Photo: Department of Space, ISRO; alongside: Satellite Launch Vehicle, MkIII-M1 rocket,
carrying Chandrayaan-2 spacecraft, lifting off from Sriharikota
Photo: Press Information Bureau
A joint statement from Group chairman Adi Godrej and Jamshyd Godrej dated June 27, 2019 noted: "We have been working on a long-term strategy plan for the (Godrej) Group for several years. As part of this exercise, we have sought advice from external partners to help us think through options. The family regrets the sensationalist media coverage of these normal and private family discussions.” Media reports on June 26 and 27 had suggested that differences had cropped up among family members over usage of more than 3,400 acres of land in the east Bombay suburbs of Vikhroli, Nahur and Bhandup owned by the Group holding company GB. Banker Uday Kotak and lawyer Cyril Shroff are advising Adi on options for the Group’s future plans, while Nimesh Kampani of J. M. Financial and lawyer Zia Mody are assisting Jamshyd, noted The Times of India (ToI) on June 28.
Nearly a decade ago, the family-run conglomerate set up a separate body as a "family board” to serve as counsel for growth and handle any issue related to management or succession, reported The Economic Times (ET). "Over the past few weeks, the family board has discussed these issues regarding redevelopment of land parcels and whether there is a need to tweak the existing agreement,” noted ET, quoting unnamed officials.
While GB is an unlisted company, the total market capitalization of the listed Group companies is Rs 1.2 lakh crores, with a collective turnover of Rs 33,000 crores, according to ToI dated June 27.