Godrej family splits 127-year-old conglomerate into two groups

The Godrej family has amicably decided to split the 127-year-old conglomerate into two groups, thus announcing an ownership realignment of their shareholdings in the Godrej companies, the conglomerate said in a stock exchange filing late Tuesday. The promoters of the company — Adi Godrej, Nadir Godrej, Jamshyd Godrej and Smita Godrej Crishna— heads of the respective family branches, had sent a letter about a family settlement agreement (FSA) and a brand and non-compete agreement.

As per the FSA, Godrej Industries Group (GIG) will be controlled by Adi Godrej, Nadir Godrej and their immediate families. Nadir Godrej will serve as the chairperson of the Group, whereas Pirojsha Godrej will be the executive vice chairperson of GIG. Pirojsha will succeed Nadir as the chairperson in August 2026. Godrej Industries Group includes the listed companies — Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet and Astec Lifesciences.

"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,” says Nadir Godrej.

Godrej Enterprises Group (GEG) comprising of Godrej & Boyce and its affiliates will now be controlled by Jamshyd Godrej, chairman and managing director and Nyrika Holkar, executive director and their families. Godrej Enterprises has a presence across 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.

“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,” says Jamshyd Godrej.

Notably, both Groups will continue to use the Godrej brand.

On Tuesday, the share price of Godrej Industries Ltd closed 5.78% higher at ₹960.65. The company’s market capitalisation stood at ₹32,344 crore. The share price of Godrej Consumer Products Ltd closed 0.07% higher at ₹1,219.50 with market capitalisation standing at ₹1,24,732.94 crore. The share price of Godrej Properties Ltd closed 0.82% higher at ₹2,648.55, with a market capitalisation standing at ₹73,640 crore. The share price of Godrej Agrovet Ltd closed 0.53% lower at ₹544.65, with a market capitalisation standing at ₹10,468.76 crore. The share price of Astec Lifesciences closed 4.99% higher at ₹1,287.65, with market capitalisation standing at ₹2,524 crore.