Wadia Group is one of the oldest conglomerates in India. It was founded by Lovji Nusserwanjee Wadia in 1736, and has a presence in several diversified industries, including FMCG, real estate, textiles, chemicals and food processing. Its subsidiary The Bombay Burmah Trading Corporation Limited, established in 1863, is the oldest publicly traded Indian company
Other notable companies of the Wadia Group are Bombay Dyeing, a textile company established in 1879, and Britannia Industries, a food and beverage company established in 1918. Four companies in the Wadia Group are listed on Indian stock exchanges. Time Travel with this Business Today Visual Story to see the 286-year journey of the conglomerate
It all began in 1736 when Lovji Nusserwanjee Wadia set up a marine construction company, which secured contracts with the British East India Company and built 355 ships including the first ships constructed for the British navy outside England. The Bombay dry dock, the first dry dock in Asia, was built by Lovji and his brother Sorabji in 1750. Among the historical ships built by the Wadia Group are HMS Minden, HMS Cornwallis, and HMS Trincomalee
In 1863, the Bombay Burmah Trading Corporation, Limited (BBTCL) founded its fortunes on teak. It has since diversified its interests into tea, coffee, other plantation products, auto electric and white goods parts, horticulture and landscaping services, healthcare products (viz.) dental, orthopaedic, and ophthalmic products. Today, BBTCL is one of the few oldest companies of the pre-independence era
In 1879, the Wadias set up Bombay Dyeing, which went on to become the Group’s most popular brand. Around 1913, the Wadia Group acquired BBTC. After independence, it entered businesses including chemicals, engineering services, lamination, and precision springs. The company has declared uninterrupted dividends for over 125 years
Britannia, which was established in 1892 by a Group of British businessmen, came out with its public issue in 1978, and its Indian shareholding increased to 62%. In 2009, Wadia Group became the largest shareholder of the company. Today, Britannia Industries is one of India’s leading food companies with over a 100-year legacy and annual revenues in excess of Rs 15,000 crore
In 1952, Neville Wadia, the father of present-day chairman Nusli Wadia, joined the business after the demise of his father Ness Wadia. National Peroxide Limited (NPL) is a public limited Company of the Wadia Group which was established in 1954. It is a pioneer in India for peroxygen chemicals and is the largest manufacturer of Hydrogen Peroxide in India
In 1977, Nusli Wadia entered the business. He has been called a 'corporate samurai'. From battling with his own father, and competing with Dhirubhai Ambani's Reliance at the time in 70s and 80s, to the defamation case against Ratan Tata and his Tata Group, Nusli Wadia has fought some notable business battles over the years
In 1971, Neville Wadia decided to sell Bombay Dyeing to another tycoon, R.P. Goenka. Nusli Wadia refused to accept the deal, which he eventually thwarted by garnering the support of the rest of the Wadia family, the employees, and former Tata Group chairman JRD Tata. In the 1980s, Bombay Dyeing was competing with Reliance Industries (RIL) in the polyester clothing business
In 2005, Wadia Group entered the aviation business when it launched GoFirst (then GoAir), a low-fare airline. The carrier filed for the initiation of insolvency proceedings in early May this year. As it tries to resume operations, it has reportedly sought additional funds of around $122 million at a meeting recently
In 2011, Wadia Group ventured into the real estate business primarily to monetize its 10,000 acres of land. The main objective of Bombay Realty, the group’s real-estate arm, is to develop this land into offices, hotels, serviced apartments, branded residences, and hospitals
Not many know that during the declining years of the British Raj, Neville Wadia, scion of the main branch of the family, married Dina Jinnah, only child of Muhammad Ali Jinnah, the founder of Pakistan. At present, Ness Wadia and Jehangir Wadia (Jeh), Wadia’s sons, are now actively involved in the business. Nusli Wadia’s succession plan is yet to be finalised