(MENAFN- Khaleej Times)
In an industry traditionally dominated by men, Dr Bina Modi, chairperson and managing director of Godfrey Phillips India Limited, has not only carved out her own space but has also reshaped the contours of leadership in the tobacco sector, underscoring how women can rise to the top through determination, acumen, and relentless hard work.
A Visionary Leader
Modi's journey is a remarkable one, defying the odds in a world that wasn't always ready to accept a woman's authority in business, especially in tobacco. Though she inherited a legacy as the wife of the late KK Modi, the founder of the Modi Group, her path to success was anything but straightforward. Initially, even her biggest supporter, KK Modi, was unsure about her potential to thrive as an entrepreneur. Despite being the daughter-in-law of a traditionally orthodox family, Modi proved her mettle in competitive sectors like fashion, hospitality through ventures like Ego, Bina Fashions, Dessange etc., which not only thrived but became stepping-stones to her journey to be a successful business woman.
The unexpected demise of her husband thrust her into the leadership of two of the largest companies of the Group i.e. Godfrey Phillips India Limited (GPI), a public listed company and Indofil Industries Limited. In a fiercely competitive male dominated industry that questioned her capability, her vision and signature blend of hard work, adaptability and keen business sense; helped Modi quickly turn scepticism into admiration. Modi's superpower is her ability to manage people and unlock their true potential. Her leadership is characterised by a people-first approach - a trait that she believes is the key to the Organization's unprecedented success. Her commitment to build a robust leadership team, dedication towards Diversity, Equity and Inclusion (DEI) Responsible Care, promoting health and safe working conditions, nurturing internal talent and creating empowered teams, has resulted in the companies scale newer heights.
For her, success is not just about profits and market share but about the positive impact on each and every stakeholder - from the farmers at the grassroots level to the employees, customers and most importantly shareholders. During her able leadership, GPI has made substantial progress in ESG initiatives resulting in a fourfold increase in Dow Jones Sustainability Index (DJSI) score. She is committed towards protecting and enhancing the legacy of her husband KK Modi.
Since assuming her role as managing director in 2019, GPI's stock has surged by an astonishing 400 per cent, and profit before tax has more than doubled, from ₹400 crore to upwards of ₹1000 crore. The market capitalization has surged to more than ₹30,000 crore from ₹6,000 crores. This remarkable growth has left rivals scrambling to catch up.
Over the years, Modi has been recognised with numerous accolades, including honorary Doctor of Philosophy from Dr. K N Modi University as well as from Jharkhand Rai University, for her contributions to society. She has been celebrated as one of 'India's Most Powerful Women' by Prem Ahluwalia and has received the Women of the Decade in Business & Leadership 2018 by Women Economic Forum, and the prestigious Achiever's Award in 2019. She was felicitated by Nitin Jairam Gadkari for Women's Empowerment in Leadership at Indo American Chamber of Commerce in 2023, by Rajnath Singh for Outstanding Business Woman of the Year in 2023 and also by the Vice President of India, Jagdeep Dhankar, for Outstanding Contributions to the Cause of Corporate Social Responsibility in 2024.
She is particularly proud that the Godfrey Phillips India Ltd. has been certified as a Great Place To Work for six consecutive years, a reflection of her belief that when people grow, companies grow. This people-first philosophy is renowned across the industry, and under her stewardship, companies have become synonymous with responsible leadership, sustainable practices, and a commitment to the environment.
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