The first time Marico started making contingency plans for Sars Cov2-related disruptions was in mid-February. At that point, India’s infection numbers were still in single digits and news headlines were focussed on an impending visit by US President Donald Trump.
Marico, however, was more focussed on the goings-on in China. What was needed was a plan for a situation if India too were to shut down. “As a company, we did not have a ready template,” admits Saugata Gupta, managing director at Marico. “So we used established frameworks.”
As India’s shutdown enters its ninth week, it has laid bare the importance of having a business continuity plan in place. Managing operations during that time can make a difference between a company staying alive and thriving in the post lockdown world or withering away on account of the new business reality.
The early moves that Marico made gave it a fighting chance in a world that gets gradually used to living with the virus.
The effects of slowing sales are already visible. Net profit for the fourth quarter of the financial year ended March 2020 fell by 3 percent (excluding an exceptional item) from ₹204 crore a year ago. Sales were down by 7 percent to ₹1,496 crore and volumes declined by 4 percent.
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Paytm 3.0 - Reaching Near Breakeven In Two Years
As of 2020, Vijay Shekhar Sharma’s super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, he’s hopeful of reaching near breakeven in two years
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
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PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
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DIGITALISATION WILL HELP IN VALUE CREATION
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Industry 4.0: Climate Revolution?
Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for India’s businesses, but regulations need to reflect intent
EV Dream Still Miles Away
Electric vehicles have remained a buzzword in India for years. But not much has moved on ground due to high upfront costs, range anxiety and charging infrastructure
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