Tag: Nusli Wadia

  • Oldest Indian Businesses and Their Current Operations: Part I

    The concept of entrepreneurship in India can be traced to the early age of ancient Indian civilization. The Harappan civilization had established a commercial connection with the Mesopotamian society due to their trading culture of exchanging hand-crafted products like toys, pots, utensils, etc. This was known as the barter system, which was highly prevalent before money was invented.

    With the passage of time, business and commerce evolved and just prior to interaction with the Western world, Indians were organized in a specific form of economic and social organization that was known as a village or a community. It was the British who introduced the industry culture in India, mainly through establishing private sector industries. Many Indian entrepreneurs set up businesses during that time which remain successful even today, having traversed through the years and staying relevant through them.

    We, at StartupTalky, are bringing you a list of such business houses that have traveled through time and have consistently reinvented themselves over the years and are not only relevant today, but are providing tough competition to newer businesses.

    Oldest Indian Businesses

    The Wadia Group
    The RPG Group
    Aditya Birla Group

    The Wadia Group

    Group The Wadia Group
    Founder Lovji Nusserwanjee Wadia
    Founded 1736
    Industry Conglomerate

    The Wadia Group
    The Wadia Group

    Founded by Lovji Nusserwanjee Wadia in 1736, The Wadia Group is the oldest conglomerate operating successfully in the country. It operated by securing contracts to build ships and docks in Mumbai from the British East India Company, eventually resulting in Bombay’s erstwhile city becoming a strategic port for the British Colonial undertakings in Asia. The first dry dock in Asia was built by Lovji and his brother Sorabji in 1750 in Mumbai. HMS Minden, HMS Cornwallis, and HMS Trincomalee were some of the historical ships built by The Wadia Group. The company is headquartered in Mumbai. The Bombay Burmah Trading Corporation Limited, a subsidiary of The Wadia Group, was established in 1863, making it the oldest publicly traded Indian company.

    With the passage of years, The Wadia Group continued its growth and expansion trajectory keeping up with time and technology. Bombay Dyeing was established in the year 1879, followed by Britannia Industries, established in 1918, and National Peroxide Limited which was established in the year 1999. All these four companies are listed on the Indian stock exchanges and continue to witness success year after year.

    Apart from the above-mentioned companies, some other firms that are operating under The Wadia Group Umbrella are:

    Gladrags

    A fashion magazine, established in the year 1959, that was of particular interest to Maureen Wadia who was a former air hostess herself.

    Wadia Techno-Engineering Services Ltd.

    A civil engineering firm that was established in 1960, it offers services like pre-feasibility services, procurement, project management, and technical advisory.   The company serves various Indian sectors like textile, industrial plants, commercial complexes, and transportation.

    Go First

    Founded as GoAir in the year 2005, it was an ultra-low-cost airline that reached its success pinnacle as the fifth largest airline in India in 2017 with an 8.4% passenger market share.

    Punjab Kings

    This cricket team is one of the ten franchisee teams playing in the India Premier League (IPL). It was established in the year 2008.

    Bombay Realty

    The company was established in the year 2011 as a real estate developer with a wide range of commercial and residential properties.

    As of the current year, 2023, The Wadia Group’s CEO, Nusli Wadia’s estimated net worth is approximately USD 3.9 billion.


    Case Study of Wadia Group and the list of companies under the group
    Wadia Group ships have been in business since 1736 and are one of the oldest Conglomerate in Indian Business. Currently, it is varied in several Wadia group subsidiaries.


    The RPG Group

    Group The RPG Group
    Founder Ramdutt Goenka
    Founded 1820
    Industry Conglomerate

    The RPG Group
    The RPG Group

    The roots of the RPG Group can be traced through history to the enterprising Ramdutt Goenka, who founded it in the year 1820. It was his nephew Keshav Prasad Goenka, however, under whose leadership the group expanded by acquiring Duncan Brothers, Octavius Steel, and many other businesses making the company a conglomerate. The commonly known name, RPG Enterprises was founded in the year 1979 by Ram Prasad Goenka, Keshav Prasad Goenka’s son. The group initially comprised the Phillips Carbon Black, Asian Cables, Agarpara Jute, The Indian Express, and Murphy India. Mumbai is the city where the conglomerate has its headquarters.

    Staying true to innovation and relevance, the conglomerate has ventured into various businesses over the years, presently boasting over fifteen companies operating in various areas of infrastructure, tires, technology, and specialty.

    CEAT Tyres

    With a wide presence in the global markets, CEAT Limited was established in 1924 in Turin, Italy. It is the flagship company of RPG Enterprises and the largest exporter of tires in India.

    KEC International

    One of the largest power transmission engineering-procurement-construction companies in the world, it has developed power infrastructure in more than 70 countries. KEC International is also increasing its footprint in sectors like railways, civil, urban infrastructure, solar infrastructure, and oil and gas cross-country pipelines.

    Zensar Technologies

    Belonging to the Information Technology sector, the company is a services and business process outsourcer. Having a global marketing presence in the USA, Europe, Asia Pacific, and South Africa, its service areas include application support and development, testing, enterprise collaboration and content management, enterprise application integration, business intelligence, and data warehousing.

    Raychem RPG Limited

    The company is engaged in engineering products and services that cater to the infrastructure segments such as power, telecommunications, hydrocarbon, oil and gas, and water.

    RPG Life Sciences

    A pharmaceutical company of the conglomerate, its three main business operations include manufacturing and marketing of bulk drugs, pharmaceutical formulation & fermentation, and biotechnology.

    Harrisons Malayalam Ltd.

    This is an agricultural business arm of the RPG Group with a history spanning 150 years. It is the largest producer of pineapples in India apart from rubber and tea. It also produces bananas, cardamom, cocoa, coffee, coconut, pepper, and vanilla.

    RPG Ventures

    The venture capital business operation of the RPG Group invests in innovative startups in sectors like health and wellness, technology, automotive, infrastructure, and project management.

    Aditya Birla Group

    Group Aditya Birla Group
    Founder Shiv Narayan Birla
    Founded 1857
    Industry Conglomerate

    Aditya Birla Group
    Aditya Birla Group

    Shiv Narayan Birla founded the Aditya Birla Group in 1857. However, it was Ghanshyamdas Birla’s leadership that catapulted the Aditya Birla Group to its success pinnacle today. During World War I, he set up a jute trading business in response to the increased demand for gurney bags.

    With time, the group expanded its operations and footprints and currently has a presence across 36 countries, deriving almost 50% of its annual revenue from its global operations. Its business has expanded across various industry sectors that include, metals, cement, fashion and retail, financial services, telecom services, IT services, renewables, fiber, textiles, chemicals, real estate, trading, mining, and entertainment.

    The Aditya Birla Group has seven publicly listed companies with a total market capitalization of USD 70 billion as of March 2022.

    Hindalco Industries Limited

    Founded in the year 1958 by GD Birla, Hindalco is the group’s metals flagship company. It is an industry leader in aluminum and copper.

    UltraTech Cement

    Founded by Kumar Mangalam Birla in the year 1983, the company is the largest manufacturer of grey cement, ready-mix concrete, and white cement.

    Novelis Inc.

    An independent subsidiary of Hindalco and operating in America, Novelis is a producer of rolled aluminum and an aluminum recycler.

    Aditya Birla Group | The Journey

    Grasim Industries

    A well-known name, the company is a textile producer and has diversified into textile raw materials like viscose staple fiber and viscose filament yarn, chemicals, and insulators.

    Aditya Birla Capital

    Founded in the year 2007 operating under the parent company, Grasim Industries, Aditya Birla Capital enjoys a strong presence offering services like protecting, investing, and financial solutions.

    Aditya Birla Fashion & Retail

    The Indian fashion retail company was founded in the year 1997. It has a strong store network of more than 3400 stores, 25000 multi-brand outlets with over 6500 points of sales department stores across the country.


    Aditya Birla Group Case Study | Revenue & Growth Strategy
    Aditya Birla Group is a remarkable business in India. Read about Aditya Birla group Case study, Kumar Mangalam Birla, history, revenue, & growth.


    The Journey Continues….

    The Indian private sector boasts some of the oldest businesses in the country which have, over time, evolved and reinvented themselves to answer the constantly changing market needs. Not only that, these businesses have marched forth confidently into the new world of information technology and embraced new and emerging technologies proving that these businesses are confident in their approach and ready and willing to adapt themselves to stay relevant in the current competitive scenario. Read Part – II of this continuing article to know more about such old business houses….

    FAQs

    Which is the oldest conglomerate operating successfully in India?

    Founded by Lovji Nusserwanjee Wadia in 1736, The Wadia Group is the oldest conglomerate operating successfully in the country.

    Name a few companies owned by the RPG Group.

    CEAT Tyres, KEC International, Zensar Technologies, Raychem RPG Limited, RPG Life Sciences, Harrisons Malayalam Ltd., and RPG Ventures are the companies owned by the RPG Group.

    When was the Aditya Birla Group founded?

    Shiv Narayan Birla founded the Aditya Birla Group in 1857.

  • Nusli Wadia Success Story: Chairman of the Oldest Indian Conglomerate – The Wadia Group

    India has given rise to many billionaires who now hold a major number of positions on the list of the world’s wealthiest people. India, behind the United States and China, has the third-highest number of billionaires in the world, according to Forbes magazine.

    India has surpassed Germany (136 billionaires) to take third place in the list of countries with the most billionaires in 2021, according to Forbes. Well, there is one such infamous wealthy family in India, who isn’t much talked about, but plays a significant role in the Indian business sector. They are the Wadia Group.

    Mr Nusli Wadia, the chairman of Wadia Group and principal owner of Bombay Dyeing, a large Indian textile company, is regarded as one of the most astute business people in the industry. If you want to know more about this great businessman read this article.

    Biography:

    Name Nusli Wadia
    Qualification PhD in Chemical Engineering
    College University of Florida, U.S.A
    Profession Entrepreneur
    Father Neville Wadia
    Mother Dina Jinnah
    Spouse Maureen Wadia
    Birthplace Mumbai, Maharashtra
    Born 15 October, 1994
    Position Chairman of Wadia Group

    About Nusli Wadia
    How Nusli Wadia Kept Bombay Dyeing Afloat
    Nusli Wadia’s Dream of Acquiring Britannia
    How Nusli Wadia and Ratan Tata went from Friends to Foes
    FAQ

    About Nusli Wadia

    Bombay Dyeing, a well-known Indian textile company, is led by Mr Nusli Wadia, who is also the majority stakeholder. The Indian Parsi businessman is the son of Neville and Dina Wadia and the grandson of Pakistan’s founder, Muhammad Ali Jinnah. The Wadia Group, which has significant real estate holdings across Mumbai, is valued at $4.1 billion and possesses one of the city’s largest land banks.

    Wadia, although being connected to Jinnah, had a complicated past. He was born a Christian but subsequently converted to Zoroastrianism to dwell among Mumbai’s industrially prosperous Parsi community. He has completed his PhD in Chemical Engineering from the University of Florida in the United States. Nusli was sent to a public school in England (Rugby) for his schooling, where he was a bit of a failure by all accounts.

    Nusli Wadia’s Sons

    Nusli’s sons are Ness and Jehangir Wadia. Ness Wadia oversees the IPL team Kings XI Punjab.

    Ness Wadia
    Ness Wadia

    Jeh Wadia founded GoAir (now GoFirst) in 2005, at a time when the market was dominated by Air India, Air Asia, SpiceJet, Kingfisher, and other major airlines.

    Jehangir Wadia - GoAir
    Jehangir Wadia

    Nonetheless, GoAir’s joint management team of Nusli and Jeh Wadia was able to establish a brand for the airline through low rates, effective operations, and smart development.

    How Nusli Wadia Kept Bombay Dyeing Afloat?

    When Neville Wadia tried to sell Bombay Dyeing to the Goenkas from Kolkata in 1971, Nusli stood in his way. To derail the purchase, he persuaded employees to acquire stock in the firm and keep it afloat. The textile behemoth was kept as a result of this action, and Nusli Wadia was able to demonstrate his commercial acumen by increasing the worth of the company. As a result, he became Chairman of Bombay Dyeing, succeeding his father.

    Mr Wadia has been Chairman of the Bombay Dyeing since 1977. He has been Chairman of the Board of Bombay Burmah Trading Corp. Ltd. since July 27, 1982, and a Director since October 28, 1980.

    He was a member of the Prime Minister’s Council on Trade and Industry in 1998, 1999, and 2000. He was the Convener of the Special Group Task Force on Food and Agro Industries Management Policy in September 1998.  He was a member of the Special Subject Group on Disinvestment and the Special Subject Group on Reviewing Regulations and Procedures to Unbind Indian Industry.

    The Wadias are one of India’s most prominent business dynasties. They have always prided themselves on doing business honestly, never paying bribes, and never dealing in black money.

    In the late 1970s, Bombay Dyeing was still India’s largest and best textile company. That wasn’t the one, though, that everyone was talking about. The ‘Polyester War,’ as the battle between Wadia and Ambani was dubbed, became part of corporate lore. It was a fight that included not only the two of them but also several politicians, including then-Prime Minister Rajiv Gandhi and his Finance Minister V P Singh, as well as two news organizations, the Indian Express and the Observer.

    For two years, Wadia was held in the courts. His passport was taken, and a deportation order was issued. Wadia was found not guilty after 42 court hearings and 2,500 pages of interrogation.

    For Mr Wadia, the 1990s were a pivotal decade. He was no longer a major source of concern for the Ambanis; they had simply outgrown him. Wadia needed to show that he knew how to operate a business.

    Nusli Wadia’s Long Awaited Dream of Taking Over Britannia

    Nusli had a long desire to engage in the biscuit sector and had agreed to take over Britannia in India with Huntley and Palmer. While Nusli met with Nabisco officials through his friend (and cashew firm partner), Rajan Pillai, and looked to have secured an agreement in which he would still be allowed to purchase Britannia, the Americans eventually changed their minds. Rajan Pillai was named chairman, and Britannia was maintained.

    Pillai teamed up with Danone, a French business, but the two swiftly fell out, with Danone accusing Pillai of being dishonest. Nusli came in as Danone’s new Indian partner to fill the vacancy.

    After a protracted judicial and public battle, Pillai was removed, and Wadia finally got his heart’s desire: The Control of Britannia. Mr Wadia has been named Non-Executive Chairman of the Board of Britannia Industries Limited. He joined Britannia Industries Limited’s board of directors on September 5, 1993, and has been Chairman since.

    How Nusli Wadia and Ratan Tata went from friends to foes

    Ratan Tata with Nusli Wadia
    Ratan Tata with Nusli Wadia

    Ratan Tata and Nusli Wadia have a personal connection that goes beyond business. Nusli served as a mentor for Ratan Tata in addition to being childhood pals. As a result, people were taken aback when they learned that Nusli had brought a defamation suit against the Tata Group and Ratan Tata.

    All of this began when Wadia chose Mistry over Tata for the position of Tata Group chairman. As a result, he was sacked as a Tata Motors independent director.

    He subsequently dropped the case, but only after receiving notification from India’s Supreme Court. He also gave up the Rs. 3000 crore he would have gotten if he had won by settling.


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    Conclusion

    The epitome of a workaholic Mr Wadia is a firm believer in living a simple life. He is believed to do a lot of his cooking, and despite spending a lot of time in London, he enjoys vacationing in Goa. Cricket is his main interest, and he rarely remarks, either literally or symbolically.

    FAQ

    What is the net worth of Nusli Wadia?

    The net worth of Nusli Wadia is 370 crores USD.

    What companies does Wadia Group own?

    Wadia Group owns, Go First Britannia Industries, Bombay Dyeing, Bombay Realty, Bombay Burmah Trading Corporation, National Peroxide, and Wadia Techno-Engineering.

    What is the business of Ness Wadia?

    Ness Wadia is the Managing Director of Bombay Burmah Trading Company Limited and Chairman of National Peroxide Limited.

  • Case Study of Wadia Group

    Wadia Group has been in function since the year 1736 and is one of the oldest Conglomerate in Indian Business market. The Wadia Group business empire has been running for over 280 years in India. Currently, it is broadly diversified in several sectors and industries which includes Textile, Chemicals, Consultancy, Plantations, Foods, Electronics, Light engineering, Health, Laminates, Real estate, and many more.

    The Wadia group companies have popularly emerged as market leaders in the Wadia business field and over the functioning years, the group has developed an excellent record of managing diverse technologies and adapting to it.

    About Wadia Group
    Wadia Group History
    List of Wadia Group Companies
    Growth of Wadia Group
    Interesting Wadia Group Facts
    Final Note

    About Wadia Group

    Wadia Group is all about setting the foot in every possible sector and field. Wadia Group through its child Company called the famous Bombay Dyeing & Manufacturing Company Ltd. is establishing a place in the Realty Sector with rapid expansion plans.

    The Group has access to around 10,000 acres of the historically acquired land at rock bottom prices belonging to Britannia Industries, National Peroxide, Bombay Burmah Trading Corp., Bombay Dyeing & Manufacturing Company and the Wadia Trust.


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    Wadia Group History

    The Wadia Group was first founded by Loeji Nusserwanjee Wadia in 1736. The group’s journey began when the founder set up a marine construction company obtaining a contract from the East India Company. The contract was to build 355 ships including the first Wadia group ships constructed for the British navy outside England.

    Over the next 150 years, the group manufactured over several ships and vessels that ploughed international waters. The year 1879 saw yet another Wadia visionary twist in the Wadia group business. With careful vision and ready to take the risk, Nowrojee Nusserwanjee Wadia moved his stakes into the textile industry.

    By the next half of the 19th Century, as Wadia Group of Bombay (present Mumbai) was gaining its reputation as the 2nd largest cotton trading port in the world as well as India, the cotton capital of the world. This indicated the birth and rise of one of the greatest success stories in Indian entrepreneurship.

    The Wadia Group today has a Rs 10,000 crore ($2 billion) Business operation in the world. The Wadia Group investment portfolio covers a number of industries which includes Aviation, Healthcare, Auto Components, Real Estate, Retail, Plantations, Chemicals and many more.


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    List of Wadia Group Companies

    There are several Wadia group subsidiaries under the giant Wadia group which have been successful in their revenue and Wadia group turnover.

    Britannia Industries

    Britannia Industries is one of India’s leading food companies with a history of around 100 years. Britannia is the most trusted food brands in India and also manufactures brands like NutriChoice, Good Day, Tiger, Marie Gold and many more which are household brands.

    Britannia’s portfolio includes all the bakery products like Biscuits, loaves of bread, Cakes, and Dairy products like Milk, Cheese, Beverages, and Yoghurt. The Britannia products are available across the country and reach around every 3rd Indian home. Britannia’s Dairy business contributes to around 5 % of its revenue and the dairy products directly reach more than 100,000 outlets.

    Bombay Burmah Trading Corporation Ltd

    The BBTCL founded its fortunes in the year 1863, as a public company which makes it almost 150-year-old company. It is the largest Wadia company in the Wadia Group based on its revenue of Rs 11,743 Cr.

    It is the 2nd oldest publicly quoted company. It is also the largest Agriculture Company In India based on company sales. The Sales Growth of 3 Years is almost 9.24 %.

    Bombay Realty

    Bombay Realty is the Wadia Group’s real estate company which concentrates on redefining the Mumbai skyline with its two iconic developments in the heart areas of Mumbai. The prime amazing developments of Bombay Realty are The Island City Centre which is at Dadar and Wadia International Centre located at Worli.

    Bombay Dyeing & Manufacturing Company Ltd

    The most important company of the group established as a small operation of Indian spun cotton yarn dyed by hand. It has also now grown to be one of the respected brands in the business.

    There is a wide variety of product portfolio like linens, towels, furnishings, leisure clothing, kids wear and a whole bunch of other products are now available across more than 2100 multi-brand stores.

    All the concerned products come with the company’s hallmark finishing, great textures, designs to match the latest trends which have been synonymous with Bombay Dyeing for over a century. The Wadia group revenue stood at Rs 4,404 Cr and the Sales Growth of 3 years is 33.95 %.

    Go Airlines

    Go Airlines (India) Ltd is an aviation business of the Wadia Group and functions under the company GoAir. GoAir launched its operations as a low budget and fare carrier to make it easier to air travel and offer airline seats at a marginal premium fare across India in the year 2005.

    It currently operates around 330 flights across 36 destinations and 9 international. The airline uses a state-of-the-art Airbus A320 aircraft as a part of the expansion plan.

    National Peroxide

    National Peroxide, a Wadia group company is India’s largest Hydrogen Peroxide manufacturer based in Kalyan, Maharashtra. It ha been operating for the last 64 years. Hydrogen Peroxide is widely used as antimicrobial chemical against a wide range of microorganisms, including bacteria, yeasts, fungi, viruses, and spores. Keeping in mind the need to do large scale disinfection, NPL has quickly developed a 3% Hydrogen Peroxide solution which can be used for disinfecting public places like airports, road, railway stations etc.

    Wadia Techno-Engineering Services

    The Wadia Group acquired 100% shareholding in Gherzi Eastern Limited “(GEL)”, from the Gherzi Group, as a result of which now The Wadia Group is the sole promoter of GEL. The name of ‘Gherzi Eastern Limited’ has been changed to “Wadia Techno-Engineering Services Limited”  in 2012. Since its inception WTESL has been a market leader and has helped shape some of the landmark constructions in the History of modern India.

    Growth of Wadia Group

    Textiles is set to be the main driver for the group, while he also plans to develop the real estate business in a major way considering its growth in the business. The complete concentration will be on brand building and establishing the textile business. Textiles will remain a dominant activity for Bombay Dyeing and the group is in the process of restructuring the entire business operations, including the manufacturing and production facilities.

    The group is on a revival mode to carve its growth path and has also taken initiatives for re-establishing the products as well as broad basing the market penetration. As a part of the marketing initiative, the company has adopted the task of refreshing the brand in the consumer minds, keeping intact the brand popularity.

    Interesting Wadia Group Facts

    • In the year 1971, then 26-year-old Nusli Wadia saved Bombay Dyeing from a takeover bid from R.P. Goenka.
    • The second oldest ship in the world was built by the Wadia group naming “HMS Trincomalee” is still afloat today in Hartlepool, England.
    • The US national anthem “Star-Spangled Banner” was composed on a ship “The Minden” built by Wadias in 1812.
    • Nowrojee Nusserwanjee Wadia started Bombay Dyeing in a humble red-brick shed.
    • The Wadia Group founder Loeji Nusserwanjee Wadia was India’s one of the first master shipbuilders.

    Final Note

    The Wadia Group is notably the widest diversified industry in India that covers almost all the growing fields of business like textiles, chemicals, plantations, food products, electronics, health, laminates, real estate, consultancy and many more.

    The history and growth of this group are legendary for a common man and it is worth knowing the facts behind the rise of this business.


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    Frequently Asked Questions

    Which is the oldest warship built by Wadia group or which ships built by Wadia group in bombay or which ship is built by Wadia group in bombay?

    HMS Trincomalee was launched in 1817, is the ship built by Wadia Group in Bombay is the oldest British warship still afloat.

    Who is the owner of Wadia group?

    Wadia group owner: Wadia family.

    Who is Ness Wadia wife?

    While Ness Wadia is known for his flamboyance and arrogance his younger brother Jeh Wadia shuns the spotlight and has stayed clear of controversies. He is married to Celina, an Australian and is the Managing Director of the group’s flagship company Bombay Dyeing.

    What is in the list of Wadia Group Companies?

    Wadia group companies list:

    • Britannia Industries.
    • Bombay Burmah Trading Corporation Ltd.
    • Bombay Realty.
    • Go Airlines.

    Is Bombay Dyeing Indian company?

    Bombay Dyeing & Manufacturing Company Limited (Bombay Dyeing) is the flagship company of the Wadia Group, engaged primarily in the business of Textiles. Bombay Dyeing is one of India’s largest producers of textiles. Its current chairman is Nusli Wadia.