Modi Enterprises

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Modi Enterprises
Company type Private
Industry Conglomerate
Founded1932;92 years ago (1932) in Delhi, India
Founder Gujarmal Modi
Key people
  • Lalit Modi (President & Managing Director)
  • Samir Modi (managing director)
  • Ruchir Modi (executive director)
Products Consumer products, multi-level marketing, cigarettes, food and beverages, fashion
Brands
List
    • Beacon Travels
    • Ego-Thai
    • Ego Italian
    • Godfrey Phillips
    • Indofil
    • Modicare
    • Modi Healthcare
    • Pan Vilas [1]
Number of employees
28,000 approximately
Website www.modi.com

Modi Enterprises is an Indian business conglomerate based in New Delhi, India. [2] The US $2.8 billion group, consisting of Godfrey Phillips India, Indofil Industries Ltd., Modicare Limited, has a diversified business portfolio including cigarettes manufacturing, education, agricultural chemicals, personal care, [3] tea and beverages, entertainment, consumer products, multi-level marketing, and gourmet restaurants. [4]

Contents

History

Gujarmal Modi (1902–1976), founded the Modi Group, beginning with a small, family-run business, [5] then expanding from 1933 onwards with companies such as Modi Sugar, [6] Modi Vanaspati Mfr Co., Modi Industries Ltd, ModiLuft and Modi Rubber, [5] Modi Paints, Modi Oils, Modi Electrodes, Modi Lanterns and Torch works, Tube wells/drilling, Modi Distillery, Modi Steels, Industrial Gases, Modi Spinning and Wvg. Mills Co. Ltd., Modi Yarn Mills, Modi Threads, Modi Soap, and Modi Carpets etc. [7] [4]

By the time Modi's brother Kedar Nath Modi joined the company, the Modi Group was India's seventh largest conglomerate. [8] The company had become the center of the eponymously renamed city of Modinagar. Modi died in 1976, and KN Modi succeeded him with the help of Modi's five sons and his own three sons who later joined the family business. The founder of the company did not leave a will and, although the family remained united under KN Modi's leadership, this oversight would later cause a rift that threatened to destroy the company. [5]

Lalit Modi, the President and MD of Modi Enterprises and the Executive Director of Godfrey Phillips India Modi at IPL Players Auction.jpg
Lalit Modi, the President and MD of Modi Enterprises and the Executive Director of Godfrey Phillips India

In April 2010, Krishan Kumar Modi, former chairman of Modi Group, announced that his eldest son Lalit Modi will succeed him as the head of Modi Group's flagship business Godfrey Phillips India (GPI). [9] KK Modi is the father of Lalit Modi, the founder of the Indian Premier League (IPL). [10] [11] According to Modi, his children (Lalit Modi, Samir Modi and Charu Bhartia Modi) will have the obligation to appoint his successor, and only by a unanimous vote. Otherwise, the group will be sold off with the profits from the sale shared equally among them. [12]

In June 2011, The Modi Group announced that it was planning to acquire majority control in Godfrey Phillips India from American tobacco company Philip Morris. Both groups had a 36% share in the company until in 2009, Modi Group acquired an additional 11% stake in GPI from Philip Morris, taking its share to 47%. As per the Joint Venture agreement, Modi Group has the right to take its holdings up to 51% by buying further into Philip Morris' holdings to gain majority control of the company. The deal brought Philip Morris' stake down to 21%. [13]

Krishan Kumar Modi, former chairman of Modi Group died at the age of 79 on 2 November 2019. [14]

Brands

The company's brands include Beacon Travels, Ego-Thai, Ego Italian, Godfrey Phillips, Indofil, Modicare, Colorbar, Modi Healthcare, Pan Vilas, Coearth and 24 Seven. [1]

Related Research Articles

Modi is a surname in India, most commonly found among people from states of Rajasthan, Gujarat, Bihar, Chhattisgarh, Haryana, Madhya Pradesh, Jharkhand, and Uttar Pradesh. The surname Modi doesn't belong to any particular community. It is distributed among various religions as well. It is used in Hindu, Muslim and even Parsi community.

<span class="mw-page-title-main">Modinagar</span> Town in Uttar Pradesh, India

Modinagar is a town and a municipal board in Ghaziabad district in the Indian state of Uttar Pradesh. It's just 24 km from Ghaziabad city, 48 km from New Delhi. It is a part of National Capital Region.

Sarthak Behuria is an Indian businessman, predominantly active in the petroleum industry. Currently he is the Group President at Modi Enterprises, primarily entrusted with the task of expanding the Group’s operations internationally. Behuria previously held leadership positions at Bharat Petroleum Corporation and the Indian Oil Corporation Limited.

<span class="mw-page-title-main">Kumar Mangalam Birla</span> Indian industrialist (born 1967)

Kumar Mangalam Birla is an Indian billionaire industrialist, philanthropist, and the chairman of the Aditya Birla Group, one of the largest conglomerates in India. He is the chancellor of the Birla Institute of Technology & Science, Pilani and ex-chairman of Indian Institute of Management Ahmedabad. According to Forbes, he has an estimated net worth of US$19.6 billion, as of March 2024 making him the 7th richest person in India.

<span class="mw-page-title-main">Rahul Bajaj</span> Indian businessman and politician (1938–2022)

Rahul Bajaj was an Indian billionaire businessman. He was the chairman emeritus of the Indian conglomerate Bajaj Group. He was awarded the third-highest civilian award in India, the Padma Bhushan, in 2001.

<span class="mw-page-title-main">Gujarmal Modi</span> Indian industrialist and philanthropist

Gujarmal Modi was an Indian industrialist and philanthropist, who co-established the Modi Group of companies and the industrial city of Modinagar in 1933, along with his brother Kedar Nath Modi. A sugar mill in Modinagar marked the beginning of the Modi Group conglomerate, which later diversified into varied fields.

<span class="mw-page-title-main">Godfrey Phillips India</span> Tobacco manufacturer

Godfrey Phillips India Ltd. (GPI) is a tobacco manufacturer headquartered in India. It is now a part of Modi Enterprises. The company is a major player in the domestic cigarette industry. In 2013-2014 it reported an annual turnover of Rs 4,220 crores. It has expanded from tobacco to include tea, pan masala, and confectioner. Its operations are primarily located in the northern and western parts of India, but it has recently expanded into West Bengal and the southern part of the country. It sells some of the most popular cigarette brands, such as Four Square, Red and White, Cavanders, Tipper, and North Pole.

<span class="mw-page-title-main">Lalit Modi</span> Indian former cricket administrator and businessman (born 1963)

Lalit Modi is an Indian businessman and former cricket administrator and a financial fraud fugitive. He was the founder, first chairman and League Commissioner of the Indian Premier League (IPL), and ran the tournament for three years until 2010. He also served as the Chairman of the Champions League from 2008 till 2010 and was Vice President of the BCCI from 2005 till 2010. He has also served as the President of the Rajasthan Cricket Association from 2005 till 2009 and then again from 2014 till 2015, and as the vice president of the Punjab Cricket Association from 2004 till 2012.

<span class="mw-page-title-main">Krishan Kumar Modi</span> Indian businessman (1940–2019)

Krishan Kumar Modi, also known as K. K. Modi, was an Indian businessman and the President of Modi Enterprises. Among his three children is Lalit Modi.

Samir Modi is an Indian businessman, and the younger son of K.K. Modi and Bina Modi. He is an executive director at Modi Enterprises, which was founded by his grandfather, Gujarmal Modi, in 1933. He is also an executive director of Godfrey Phillips India and a director of Indofil Industries Ltd. He participated in launching various initiatives for the Modi Group, including Modicare, Colorbar Cosmetics and Twenty Four Seven convenience stores.

<span class="mw-page-title-main">Hemant Batra</span> Indian commercial lawyer

Hemant Batra is an Indian business, public policy, corporate and commercial senior practicing lawyer, newspaper – columnist writer author, TV anchor/Host, public speaker, commentator, mentor, and legal counsel. He was the co-founder and counsel at Kaden Boriss Global, an alliance and forum of independent and autonomous law firms and legal enterprises. Hemant holds a position as the Secretary General of SAARCLAW. SAARCLAW is a regional Apex body of SAARC. He has also authored several books on law and policy. He was engaged by the Lok Sabha as a Guest Anchor and Guide for a fresh series of Sansad TV called `75 Years: Laws That Shaped India' The other Guest Anchors engaged by the Parliament for Sansad TV being Bibek Debroy, Dr Karan Singh, Amitabh Kant, Shashi Tharoor, Maroof Raza and Sanjeev Sanyal. The global TV channel Sansad TV was launched by the Prime Minister of India Narendra Modi, Vice President of India Venkaiah Naidu and Speaker of Lok Sabha Om Birla on 15 September 2021.

<span class="mw-page-title-main">Krishan Kant Paul</span> Indian police service officer

Krishan Kant Paul is a former Indian Police Service officer, who served as the Commissioner of Police, Delhi from February 2004 to July 2007. Following his retirement from the IPS, he served as the governor of several states—Meghalaya (2013–15), Manipur (2014-15) and Uttarakhand (2015–18). He had also held the governorships of Mizoram and Nagaland briefly, as additional charges.

Charu Modi is an Indian entrepreneur and the promoter and shareholder of the K.K. Modi group. She is the granddaughter of the late Rai Bahadur Gujarmal Modi and the daughter of Krishan Kumar Modi and Bina Modi. Modi is the co-founder and chancellor of KK Modi University (KKMU), an educational institute offering internationally accredited courses on Indian campuses. Modi is also the elder sister of Lalit Modi, the former Indian cricket administrator and the founder of the Indian Premier League (IPL) and Samir Modi, who manages the Modi Group's retail, network marketing and cosmetics ventures.

Dayawati Modi (1915–1994) was the wife of the founder of Modi Enterprises, Rai Bahadur Gujarmal Modi. People she helped due to her altruistic nature colloquially referred to her as Maji as a sign of respect and gratitude. Her contribution towards the development of society in Modinagar and elsewhere was underlined by her dedication towards uplifting the underprivileged and providing educational opportunities to women and children. She is the grandmother of Lalit Modi, the founder of the Indian Premier League (IPL).

Rajinder Kumar Malhotra , is an Indian business professional associated with the agricultural chemicals industry for over four decades. He has been the Chief Executive and President of Indofil Industries Limited since 1994. Malhotra heads Indofil, which is a part of K.K. Modi’s conglomerate with diverse business interests in tobacco, chemicals, entertainment, education and other sectors.

<span class="mw-page-title-main">K. K. Aggarwal (cardiologist)</span> Indian physician (1958–2021)

Krishan Kumar Aggarwal was an Indian physician and senior cardiologist who was President of the Confederation of Medical Association of Asia and Oceania (CMAAO), President of the Heart Care Foundation of India and the Past National President of Indian Medical Association. In 2010, the Government of India honored him with the Padma Shri, India's fourth-highest civilian award, for his contributions to the field of medicine.

<span class="mw-page-title-main">ITC Limited</span> Indian conglomerate

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<span class="mw-page-title-main">India–Sweden relations</span> Bilateral relations

India–Sweden relations are the bilateral ties between India and Sweden. Sweden recognised India's independence from the United Kingdom in 1947; both nations established formal diplomatic relations in 1949. India has an embassy in Stockholm, while Sweden has an embassy in New Delhi and honorary consulates in Chennai, Kolkata and Mumbai.

<span class="mw-page-title-main">Ayushman Bharat Yojana</span> Healthcare programme in India

Ayushman Bharat Pradhan Mantri Jan Arogya Yojana(PM-JAY) is a national public health insurance scheme of the Government of India that aims to provide free access to health insurance coverage for low income earners in the country. Roughly, the bottom 50% of the country qualifies for this scheme. People using the program access their own primary care services from a family doctor and when anyone needs additional care, PM-JAY provides free secondary health care for those needing specialist treatment and tertiary health care for those requiring hospitalization.

<span class="mw-page-title-main">Sonalika Tractors</span> Indian agricultural machinery manufacturer

Sonalika Tractors is an Indian agricultural machinery manufacturer. The company was founded in 1995 in Punjab, India. It is the 3rd largest manufacturer of tractors in India, with the capacity to produce 3.00,000 tractors a year, as of June 2017. The company has become the No.1 company in exports from India selling 35,000 tractors in FY 2021-2022 and is active in 150+ countries. It manufactures tractors ranging from 20 HP to 125 HP. The company is operated by International Tractors Limited, the flagship firm of Sonalika Group.

References

  1. 1 2 Modi brands on Modi website, 5 Jan 2018
  2. Sarkar, John (10 March 2017). "KK Modi group eyes 500 more stores". The Times of India . Retrieved 26 April 2018.
  3. Dutta, Arnab (18 March 2017). "KK Modi group plans Rs 4,000-cr business rejig in four years". Business Standard . Retrieved 26 April 2018.
  4. 1 2 Margaret Herdeck; Gita Piramal (1985). India's Industrialists, Volume 1. Lynne Rienner Publishers. p. 264. ISBN   0894104152.
  5. 1 2 3 Majumdar, Shyamal (5 August 2014). "Everything you wanted to know about the Modi business family feud – and more". First Post . Retrieved 26 April 2018.
  6. Rana, Uday (14 May 2016). "Lalit Modi's uncle who owes over Rs 400 crore to farmers absconding, claim cops". The Times of India . Retrieved 26 April 2018.
  7. Masoodi, Ashwaq (7 May 2015). "Modinagar: The death of an industrial township". Livemint.
  8. Masoodi, Ashwaq (May 2015). "Modinagar: The death of an industrial township". Livemint . Live Mint.
  9. Mukherjee, Shubham. "Lalit will head family flagship, says father". The Times of India .
  10. Schwartz, Peter. "The World's Hottest Sports League". Forbes . Retrieved 23 January 2014.
  11. Mukherjee, Shubham (27 April 2010). "Lalit will head family flagship, says father". The Economic Times . Retrieved 23 January 2014.
  12. "Modi empire may be sold: K K Modi". The Financial Express (India). 27 April 2010. Archived from the original on 3 April 2015. Retrieved 15 November 2017.
  13. Doval, Pankaj (23 June 2011). "KK Modi eyes 51% in Godfrey Phillips". The Times of India . Archived from the original on 19 September 2012. Retrieved 15 November 2017.
  14. Th Indian Express (3 November 2019). "FICCI mourns demise of its former president K K Modi". Indian Express . The Indian Express.