The postage stamp, available in the denomination of Rs 3, features the two pioneers of the group, Ardeshir Godrej (1868-1936) who started manufacturing locks in 1897 and his brother Pirojsha Godrej (1882-1972).

Presiding over the function, Maharashtra governor PC Alexander described Godrej as a ``very unique institution'' which had been chosen among a host of others for this rare honour of being commemorated with the issue of the stamp.

``What set Godrej Brothers apart from others was their commitment to values, which they passed down to their future generations,'' Alexander said amidst a thunderous applause from the distinguished gathering which included many prominent personalities from the industry and the government.

Alexander recalled howArdeshir openly declared his donation of Rs 3 lakh to Gandhiji in 1920s for Harijan upliftment without fearing adverse consequences from the then British rulers and lauded the fierce patriotism and commitment to the national cause of the Godrej House.

Alexander was full of praise for the present octogenarian Godrej group chairman SP Godrej who, at the age of 86, championed all good causes and was a foremost environmentalist of the country.

Chief minister Manohar Joshi said Godrej stood for quality and added that during the Mumbai serial blasts in March 1993, the only thing explosions could not damage was a Godrej safe of Union Bank of India, which was one of the targets of perpetrators of crime.

He said Godrej was not only a profiteering company, but also understood social responsibility, as exemplified by its donation of 32 per cent of annual profits to charitable works.

Speaking on the occasion, Godrej said the postage stamp was ``indeed an honour for an industrial house whose roots lie deep inIndia's freedom struggle.''

He said the group had today grown to become one of the country's highly diversified industrial houses, with an annual turnover of Rs 3,500 crore.

Godrej group comprises Godrej and Boyce Manufacturing Company, Godrej GE Appliances, Godrej Soaps, Godrej Agrovet, Godrej Telecom and Godrej Properties and Investments.

And the group is engaged in the manufacture of soaps and toiletries, storage and office equipment, furniture, typewriters, household appliances, precision engineering, information technology, agriculture, foods and household insecticides, besides building the ``Vikas Engine'' for the country's space programme, he added.