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BW Businessworld

An Eye For Making It Big

Making it big When experience meets excellence, there is only one way to go, up

Photo Credit : Bloomberg

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Witnessing phenomenal growth since last year, Nusli Wadia, Chairman of Wadia Group, has made giant strides across sectors, with one of the oldest conglomerates in India.

With a diversified portfolio, with companies such as Bombay Burmah Trading Corporation (BBTC), Bombay Dyeing, Bombay Realty, Britannia Industries, GoAir and National Peroxide under its umbrella, Wadia has a cumulative wealth of $6.1 billion. BBTC is one of the oldest companies from the pre-Independence era, which continues to flourish. The group operates in aviation, textiles, chemicals, plantations, engineering, healthcare, real estate, retail, and auto components industries. It operates daily and weekly flights across the Indian subcontinent; manufactures and sells linens, home furnishings, kids wear, and a range of other products through its retail stores and other multi-brand stores; produces and sells biscuits; develops and sells residences, hospitals, offices, hotels, serviced apartments, branded residences, schools, and retail projects; and provides engineering and management consulting services.

The group acquired National Peroxide in March 2017, increasing their stake in the company from 45.4 to 70 per cent per cent. Out of the 25.1 per cent stake acquired, 21.34 per cent is being proposed to be bought by Nusli Wadia, while the remaining 3.76 per cent is proposed to be acquired by Nowrosjee Wadia and Sons. National Peroxide is the largest domestic producer of hydrogen peroxide, with a current capacity of 95,000 MTPA and has a domestic market share of 45 per cent.

The group has a total revenue of $5.6 billion, and total equity of $9.5 billion. In February 2017, BBTC raised about Rs 50 crore by issuing commercial paper for 90 days and acquired more shares of Bombay Dyeing as a part of internal restructuring of promoters holding in Bombay Dyeing. The Wadia Group-owned GoAir also added 30 additional flights and routes and increased its fleet size in 2017. Bombay Dyeing is also targeting sales of Rs 1,000 crore by 2020 so that the company’s contribution to the Wadia Group revenue increases to 30 per cent from 17 per cent.