Godrej Aerospace Empowers India's Space Exploration and Civil Aviation Sector with Indigenous Manufacturing

Aims to invest Rs 250 cr in a state-of-the-art facility

The business supplied critical components for ISRO's Chandrayaan 3 mission

Godrej & Boyce, the flagship company of the Godrej Group, announced that its business Godrej Aerospace has strengthened its focus on indigenous manufacturing, innovation, and technological advancements. Godrej Aerospace, playing a pivotal role in nation-building and self-reliance, is planning to invest ₹250 crores to build a new facility at Khalapur in Maharashtra for advanced manufacturing and assembly, and integration facilities. The business has also supplied critical components to ISRO’s Chandrayaan 3 mission.

Over the years, the company has honed its expertise in manufacturing critical components for space projects, including liquid propulsion engines, satellite thrusters, and control module components. These contributions have played an integral role in prestigious missions like Chandrayaan and Mangalyaan, enhancing India's reputation as a leader in space exploration. They have been a part of every single PSLV and GSLV launch contributing significantly to ISRO's strategic and technological advancements along with the recent launch of NVS-01 Satellite.

The business is actively contributing to the growth of manufacturing for the civil aviation sector, both within India and through exports. Collaborating with global majors like Rolls-Royce, Boeing and GE, the company is involved in the development and manufacturing of critical components. These endeavours not only strengthen India's capabilities in manufacturing for civil aviation but also contribute to the country's export potential, positioning it as a global player in the aerospace industry. With the DRDO engine modules, Godrej Aerospace is the first private company in India to manufacture core modules of this class of engine for the first time in India.

Maneck Behramkamdin, AVP & Business Head, Godrej Aerospace said, "We take immense pride in our contribution to ISRO's Chandrayaan 3 mission, which exemplifies our commitment to nation-building and self-reliance. At Godrej Aerospace, we remain committed to indigenous manufacturing and technological advancements, contributing to driving the nation's progress in space projects and civil aviation. As a trusted partner of ISRO, we will continue to contribute to future launches, missions, and the development of advanced aerospace components and systems. In civil aviation, we are focusing on innovation and exports to global markets including US, projecting 100% growth in the next three years."

By leveraging indigenous capabilities and reducing dependence on imports, the company is contributing to the nation's self-sufficiency and fostering technological advancements within the country. These efforts drive economic growth, attract investment, and create high-skilled employment opportunities, thus supporting the overarching goal of Aatmanirbhar Bharat.

About Godrej & Boyce Mfg. Co. Ltd

Godrej & Boyce ('G&B'), a Godrej Group Company, was founded in 1897 and has contributed to India's journey of self-reliance through manufacturing. G&B patented the world's first springless lock and since then, has diversified into 14 businesses across various sectors from Security, Furniture, and Aerospace to Infrastructure and Defence. Godrej is one of India's most trusted brands serving over 1.1bn customers worldwide daily.

To Meet Growing Consumer Demand for Rental Equipment, Godrej & Boyce will Invest INR 100 Cr in its Material Handling Business

Expands reach across sectors in response to the surging rental equipment market.

Godrej & Boyce, the flagship company of the Godrej Group, announced that its business Godrej RenTRUST, a leading player in the material handling rental industry, has planned to invest INR 100 crores in capital assets over the next three years. This strategic move comes as the company foresees a significant surge in material handling requirements across the country. In Q4 of FY23, Godrej RenTRUST secured orders deploying 100+ units of equipment to esteemed clients across multiple industries such as shipping, 3PL, ecommerce, FMCG, manufacturing and F&B, demonstrating the company's commitment to long-term partnerships.

Mr Anil Lingayat, Executive VP and Business Head, Godrej Material Handling

With a strong belief in the potential of the rental market, Godrej RenTRUST aims to cater to the evolving needs of industries including auto, engineering, chemicals and pharma, F&B, FMCG, logistics, 3PL, ecommerce and retail.

The Indian rental market, estimated at INR 2200 crores, has shown a remarkable growth trajectory, with the organized segment gaining ground year after year. By opting for equipment rentals, customers significantly reduce their involvement in servicing requirements. Industry studies indicate that in the entire lifecycle of equipment, service consumes approximately 20% of the cost and 15% of the time of consumers. Reducing either of these aspects empowers industry players to become more competitive in their respective sectors.

Renting equipment has become a preferred option for businesses seeking managed services and bypassing high upfront costs. Compared to purchasing equipment, rentals offer a cost-effective solution that allows companies to choose optimal equipment tailored to their specific requirements. By embracing rental solutions, businesses can eliminate hidden and obvious costs associated with equipment ownership, thereby increasing productivity, meeting compliance standards, and achieving overall cost savings.

Over the past five years, Godrej RenTRUST has achieved a CAGR of 20%, solidifying its position as a trusted and leading player in the material handling rental industry and growing further. In this highly unorganized industry, Godrej RenTRUST continues to provide marquee services to enable fully complaint and safe operations with certified operators and high-quality equipment, that can be digitally monitored in real time by the clients. Customers benefit from their extensive reach in India across 300+ sites, optimized space and cost of warehouses, safer material handling movements till 12.5 meters height with increased throughput, with 80% of fleet being electric powered.

Commenting on this, Mr Anil Lingayat, Executive VP and Business Head, Godrej Material Handling, says, "We are thrilled to announce our investment of INR 100 crores in capital assets for Godrej RenTRUST, reflecting our strong belief in the rising demand for material handling solutions across the country. At Godrej RenTRUST, our focus is on empowering businesses to thrive by providing flexible rental options that eliminate high upfront costs and offer optimal equipment tailored to their specific needs. By delivering transparent rental contracts, exceptional service, and hassle-free maintenance, we aim to enhance our customers' productivity, drive operational efficiencies, and enable them to stay ahead in today's competitive landscape. This strategic investment underscores our commitment to revolutionize the material handling rental industry and deliver exceptional value to our valued customers."

One of the key advantages of Godrej RenTRUST's rental contracts is the transparency it provides in operational expenses. Customers can benefit from a predetermined cost structure, enabling them to determine operational efficiencies needed for their core business. Additionally, rental contracts ensure that no unforeseen expenses arise during the operational cycle, minimizing surprises and providing peace of mind. Companies are increasingly transitioning from capital expenditures to rental solutions leveraging the flexibility it offers in meeting expansion needs, greenfield projects, and fleet replacements.

With a customer-centric approach, Godrej RenTRUST is poised to cater to the ever-growing demands of the Indian market and ensure seamless and efficient material handling for businesses across various sectors.

Godrej & Boyce ('G&B'), a Godrej Group Company, was founded in 1897 and has contributed to India's journey of self-reliance through manufacturing. G&B patented the world's first springless lock and since then, has diversified into 14 businesses across various sectors from Security, Furniture, Aerospace to Infrastructure and Defence. Godrej is one of India’s most trusted brands serving over 1.1bn customers worldwide daily.

To learn more visit: www.godrej.com