Godrej & Boyce Manufacturing Company Limited

Godrej & Boyce Manufacturing Company Limited Overview

Company Headquarters: Mumbai, India

Founded: 1897

Workforce: ~12,000 +

Company Working: Godrej & Boyce is a diversified Indian conglomerate that operates across multiple industries, such as appliances, furniture, security solutions, precision engineering, material handling equipment, and aerospace. Godrej & Boyce has a furniture division that is the largest furniture producer in India and offers a comprehensive range of products for domestic, office, and industrial use. The appliances division produces various consumer goods, including air conditioners, refrigerators, washing machines, and microwave ovens. Aside from its consumer-facing divisions, Godrej & Boyce has an industrial division that produces material handling equipment, such as forklifts, pallet trucks, and stackers. The company's security solutions division offers a range of products, including safes, vaults, and security doors. Additionally, Godrej & Boyce has a precision engineering division that manufactures high-precision components and sub-assemblies for diverse industries, including aerospace, defense, and automotive

Strategy

At the core of Godrej & Boyce's strategy lies a focus on innovation and customer satisfaction to drive growth. The company invests heavily in research and development to design innovative products that meet evolving customer needs. In addition, Godrej & Boyce strongly emphasize customer service and achieving high levels of customer satisfaction. Apart from a domestic focus, Godrej & Boyce also has international ambitions. The company has a strong foothold in India but sees significant opportunities in the global security solutions space. It believes the growing demand for security products in international markets can be a key growth driver. Godrej & Boyce thus aims to expand its reach beyond Indian borders to capitalize on these opportunities.

Company Snapshot

12,000

Employees

1897

Founded

Mumbai, India

Headquarters

SWOT Analysis

Strengths

Wide product range
Strong distribution network
Experienced and qualified workforce
Technologically advanced

Weaknesses

Reliance on a few key customers
Slow product innovation

Opportunities

Increasing urbanization
Rising disposable incomes

Threats

Competition from other domestic and international players
Changes in government regulations

Key Developments

Date	Approach	Development
May 2023	Product Launch	Godrej Locks and Architectural Fittings and Systems (GLAFS), which operates as a business unit of Godrej and Boyce, has introduced a new line of locks for the hospitality and residential sectors. The Catus range of locks is designed to offer enhanced safety and convenience through advanced technologies. The interconnected hospitality locks and connected residential locks are now available.
March 2022	Product Launch	Godrej launched the Advantis Rimtronic Digital Lock, a rim lock with advanced safety features, including 360-degree fingerprint access and pin code.

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