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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Home-Cooked Meal Is Now Greatly Valued
The pandemic has also brought with it an improved focus on hygiene, use of technology in dining, rise of cloud kitchens and resurgence in popularity of Indian ingredients
Paytm 3.0 - Reaching Near Breakeven In Two Years
As of 2020, Vijay Shekhar Sharmaâs super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, heâs hopeful of reaching near breakeven in two years
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
Covid-19 has shown that women are more likely to face the brunt of job losses than men, and find fewer opportunities when they want to resume. That apart, several have to deal with increased hours of unpaid work at home and even domestic abuse
LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE
Leaders must not only guard their teams first during a crisis, but also deal with stakeholders with respect and dignity. And apart from pursuing business goals, they should remain committed to our planet and the environment
PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
Apart from building a flexible and resilient framework for the future, philanthropists, civil society and the government must work in tandem so that every rupee is absorbed on the ground
INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR
While clinical research will get a boost, having a skilled workforce and public spending on health care will be challenges in the near term
DIGITALISATION WILL HELP IN VALUE CREATION
As the pandemic brings technology and innovation to the core of business and daily life, the next decade will see about 150 million digital-first families in India
Industry 4.0: Climate Revolution?
Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for Indiaâs 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
Living Waters
A virus has caused us to scramble for oxygen but our chokehold on the environment is slowly strangling the very waters that breathe life into us. The virus is a timely reminder: We are merely consumers, not producers of lifeâs breath on this planet
