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.
This story is from the June 5, 2020 edition of Forbes India.
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This story is from the June 5, 2020 edition of Forbes India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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