Godrej & Boyce, which is the holding company of the Godrej group with expansive overseas operations, will generate the funds through its internal accruals, Godrej said.Godrej & Boyce is an unlisted company which has sewn a series of joint ventures in new markets including Oman, Vietnam and South Africa.
In India, it has eight business divisions which manufacture and market a wide range of consumer durables and industrial products. Sales (including excise duty) of Godrej & Boyce in the April 1995-March 1996 amounted to Rs 613 crore. The company has been in the furniture business for over 70 years now. As part of its restructuring drive, the group has hired merchant bankers Kotak Mahindra and Lazard Credit Capital to work out a suitable plan for future opportunities.
Besides, Andersen Consulting is working on an operational efficiency enhancement programme aimed at reducing costs and generating recurring savings.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.