Domestically, the company is set to benefit from recent regulatory changes
The Security Solutions division of Godrej & Boyce, a part of the Godrej Enterprises Group, has outlined plans to achieve a 50 per cent revenue growth by FY27. The company is targeting a top-line of Rs 15 billion, up from Rs10 billion in FY24, driven by a focus on expanding exports and leveraging domestic regulatory changes.
Currently, exports contribute around 10 per cent to the division’s revenue, but the company sees significant room for growth in international markets. By FY27, exports are expected to account for 14–15 per cent of the division’s revenue, with the Americas and Europe identified as primary drivers. Despite geopolitical challenges in the Middle East affecting freight costs and transit times, Godrej & Boyce remains committed to delivering innovative security solutions globally.
Pushkar Gokhale, Executive Vice-President and Business Head of the Security Solutions Business, emphasised the potential in these markets. “The global demand for advanced security solutions, particularly in the Americas and Europe, presents a tremendous opportunity for us. These regions account for 60 per cent of the global market, and we are strategically positioning ourselves to capture this demand with innovative and compliant products tailored to international standards,” he said.
The company’s portfolio includes fire-resistant safes, vaults, access control systems, and advanced alarm technologies. These products, trusted by banks, corporations, defence organisations, and government institutions, underline the division’s focus on reliability and innovation.
Domestically, the company is set to benefit from recent regulatory changes. The Bureau of Indian Standards (BIS) has mandated compliance for safes and vaults, a move expected to shift market dynamics towards organised players. Godrej & Boyce, which holds 80 per cent of the organised B2C market and 58 per cent of the B2B segment in India, is well-positioned to capitalise on this transition.
“This policy shift is expected to accelerate the transition from unorganised to organised players, enhancing market share for companies that prioritise quality and compliance,” Gokhale noted.
The company’s ambitions are anchored in its broader vision of redefining security standards globally. “Security is no longer just about safeguarding physical assets. It is about ensuring peace of mind and trust whether at home, work, or in public spaces,” Gokhale added. “With our unwavering commitment to innovation and excellence, we aim to establish India as a hub for world-class security solutions.”
As Godrej & Boyce strengthens its position in both domestic and international markets, its strategy reflects a balanced focus on regulatory alignment, innovation, and expansion, positioning the company for sustained growth in the years to come.