Consumer Society
for Employees

Started by a small group of employees in 1962, with an initial membership of 200, today the Godrej & Boyce Employees' Co-operative Consumers Society has a membership of approximately 4,000 and the total turnover exceeds Rs. 3 crores. The Society was launched with the intention of providing a non-profit service to employee members. All employees of the Godrej Group of Companies are eligible for membership. At present, the Society runs three full-fledged shops at Stationside, Creekside and Hillside, Vikhroli, from 10.00 a.m. to 7.45 p.m. on all working days of the week, except Sundays, which is a weekly holiday for the Society.

Working hours for customers are from 10.00 a.m. to 12.45 p.m. and 2.45 p.m. to 7.15 p.m. from Monday to Saturday.

The overall running of the Society is guided by a Managing Committee, which makes decisions on policy matters and is constituted as follows :
» Elected members' representatives.
» Employer representatives.
» Society staff representatives

The terms and conditions of membership are as follows:
» All permanent employees of the Company (Godrej & Boyce Mfg. Co. Ltd., Godrej Industries Ltd., Godrej Appliances Ltd.) are eligible to become members of the Society.
» A member has to buy shares worth a minimum amount of Rs. 200 and up to a maximum of Rs. 500 (each share has a face value of Rs. 50).
» A member has to pay a deposit of Rs. 250. The above amounts are deducted from the salary/wages of the employee.
» Various committees, viz. Purchase committee, Stock committee, Sale of Empties committee, Flourmill committee are responsible for specific functions.

There are two flourmills under the Society at Hillside and Creekside in Pirojshanagar, catering to the employees and their families' requirements.

At present the Society has 24 employees, who are directly employed by the Society. In addition to these employees, the Manager and the Accountant are employees of the Company.

Among the facilities provided to members are:

1. Sale of household items of daily use both on cash payment and credit basis. Credit is granted up to an amount of Rs. 1,000 per member per month, which cannot be carried forward. Such amounts are deducted from the salary/wage of the member.

2. A discount of 2 per cent is given on cash purchase of goods exceeding Rs. 100 in value from the stores of the Society.

3. Sale of consumer durables like televisions, refrigerators, two-wheelers, etc., on outright payment basis and through consumer finance schemes of banks. This is done periodically, once in two years, mostly during festival periods.

4. A Godrej Industries counter, where items manufactured by Godrej Industries Ltd. are sold at discounted prices to permanent employees of Godrej & Boyce Mfg. Co. Ltd. and its sister concerns (except Godrej Industries employees) on a cash payment basis.

5. Sale of books and other stationery items for students of the Udayachal Schools. Customers benefit by getting all these items, as recommended by the Schools, under one roof at a discounted price fixed in consultation with the Society's Managing Committee and the School management. The Godrej & Boyce Employees' Co-operative Consumers Society Ltd. arranged a sale of school stationery through M/s. Mahavir Book Stores, Hariyali Village, Vikhroli at the Consumer Society's main shop from 28 April to 15 June, 2003. A special offer was given to employees' families on 200 and 100 pages Jumbo Deluxe notebooks (with Godrej logo), 10 per cent discount on all Camlin products and free covers with textbooks. The rates were much cheaper than the market rates. The response was tremendous.

6. Exhibition-cum-sale of electronic goods, non-stick kitchenware, garments, shoes, luggage items, etc., manufactured by reputed companies. As per the standard exhibition-cum-sale policy decided by the Consumer Society's Managing Committee and the Company's management, the Society charges nominal rental from the vendors for the space provided in the Society's premises.

7. A vegetable vendor has been organised by the Society to provide fresh vegetables and fruits in the colonies of the Company.

8. Sale of seasonal items such as umbrellas, raincoats, windcheaters, blankets, are also organised by the Society.

All members are eligible for a dividend at the rate of 6 per cent on the share amount and interest of 9 per cent on the deposit amount. The declaration of dividend is done at the Annual General Meeting of the Society. Additionally, incentive gift coupons are issued to members.

The Society plans to shift the main shop to Bldg. X 45 at the Stationside colony in the near future.

A.A. Poyarekar/R.V. Surve
Godrej & Boyce Employees' Co-operative
Consumers Society Ltd.