Changes in consumer preferences to premium products—such as large refrigerators and smart appliances and locks—post pandemic made life tough for Nyrika Holkar, executive director of Godrej & Boyce (G&B). The trend was impacting G&B’s largest businesses, Godrej Appliances and Godrej Interio. Holkar saw this as an opportunity to drive transformation. She pushed teams to understand customer requirements and design better products. She also led modernisation of organisational architecture and digital assets. The revenue of Godrej & Boyce increased 18% to ₹14,796 crore in FY23 from ₹12,500 crore in previous year.
Holkar, niece of G&B CMD Jamshyd Godrej, leads digital strategy, brand, legal and mergers and acquisitions at G&B. Her focus areas are enhancing customer experience, fostering collaborative innovation and enhancing data-led decision making. “We have to deliver a clear value proposition that addresses pain points at prices,” she says.
Nyrika, a qualified solicitor, oversees protection of the organisation’s intellectual property and commercial contracts as well as building of ecosystems with partners and start-ups. “We ensure that over 30% revenues are from products that are either environmentally sustainable or affordable for underserved communities. We have been water positive since 2015. We have a target of doubling energy productivity and reducing carbon intensity by 60 % by 2030,” she says. — Nevin John