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<ul><li>Parle-G registered its best sales figures in over eight decades during the COVID-19 lockdown period. </li><li>We caught up with Mayank Shah, Sr. Category Head, Parle Products to understand how the brand managed to meet the ever-increasing demand, secret behind hike in sales, its shifting focus on digital mediums and overall marketing strategy. </li></ul>We all have grown up munching on Parle-G, dunking it in our chai and savouring the half-tea-soaked cookie everyday before rushing to school. The five-rupees pack came to the rescue yet again, cured the lockdown blues when our migrants trekked hundreds of kilometers back home. As a result, while many businesses struggled to survive, this home-grown glucose biscuit hasn’t seen its sales dip even for a day. In fact, Parle-G broke its own sales record by selling the maximum number of biscuits during lockdown in eight decades. Parle saw its overall market share increasing by nearly 5% in May and 80-90% of this growth came from Parle-G sales. “We have witnessed that during natural calamities and during COVID, there is an urgent need to supply rations to people and Parle-G has always been the go-to product and comfort food in any situation or location. It has a longer shelf life and the packaging keeps the biscuits fresh, thereby making it an ideal storage item,” said Mayank Shah, Sr. Category Head, Parle Products. Various NGOs and welfare organizations included Parle-G in their donation kits when Cyclone Amphan hit West Bengal and Odisha. Many people stocked it at home for emergencies. Another reason why Parle-G saw an uptick in sales is because the whole country was home and needed something healthy to snack on. “Today, most spending is happening on food and given the behavior, we are noticing people buying all sorts of biscuits, not just for snacking but for preparing various dishes. This is one reason why the demand went up. The second reason being staying at home has increased the consumption drastically. Typically, at the workplace the focus remains at work, at school focus is on studying but at home 24x7, consumption of food and snacking goes up. This is the reason why we saw uptick in consumption and we expect that this momentum will continue going forward as long as there are some or the other form of restrictions and also because of the concerns that people have in consuming outside food,” tells Shah. Challenges of meeting the market demand But how did Parle manage to meet this ever-increasing demand with scarcity of labor? “Right from day one, we were on the job in terms of ensuring that we get permissions to operate our plant, to ensure that the people are taking care of supply chains so any issues coming at any local level, there was a team that was functioning and taking care of those things to ensure smooth operation. Right from sourcing to manufacturing and supply chain, there were partners and teams already taking care of it. A big challenge was, a paucity of labor and the government additionally declared that offices will not operate with more than 50 percent capacity, which has changed today, initially it was even less than that,” said Shah. He added, “Depending on how a particular zone is affected, we probably have 20-40% labourers. To inspire and get laborers on board, we had to make them understand that it was not just a commercial activity rather it was food security of the country because of the sheer volume and consumption by people.” Shifting focus on digital mediums The lockdown has pushed even a traditional brand like Parle to embrace digital and explore the options available to reach out to its customers. While its ‘G Maane Genius’ iconic tagline continues to be a part of popular culture, to make it more relevant today and increase its recall value, Parle recently partnered with Amazon Prime Video for Shakuntala Devi. Talking about this partnership, Shah said, “This partnership celebrates what sets us apart, which is the generations of children that go above and beyond exploring possibilities in a way that makes their little world and imagination better.” Shah told us that the brand shifted its lion’s share from TV to digital during the lockdown because there was no fresh content on TV and on the other hand, there was a disproportionately higher rate on digital. “We would be investing a good amount of our budget into digital. Pre-COVID, the investments were typically 10 to 12% of the budget. During the initial part of the COVID, not just ours but many companies invested almost one third of the budget spent on digital. Now within a year or two, we will see almost about 20-25% of the total advertising spend happening on digital. Secondly, associations on OTT or TV only if we see a good synergy with our brand. So unless and until there is no great synergy in between our brand communication or brand proposition and the medium or rather the property with which we are associated, we normally don't associate,” said he. Tweaking marketing strategy to stay relevant This 82-year-old brand has grown to become a feeling in our country, it is not just any a cookie you dip in your chai. There is immense nostalgia associated with it. And to resonate with its consumers in gloomy times, Parle tweaked its overall marketing strategy. “We ensured that Parle remained part of consumers' life. Although we observed advertising by many brands, we opted to stay relevant and sometimes out of it. Rather, we continued talking to consumers about inspiring in these times, making them appreciate the role of the frontline workers and ensuring that they understand how the lockdown is beneficial to everybody. So they were not only public service ads which we executed, but ads of our products which talked about how we are part of their life by sharing their concerns. So, most of our communication was topical in nature.” When asked what keeps Shah motivated and at it, he said, “Today we are seeing many companies in the same category, same sector, who are giving up saying that it's the time of lockdown and nothing can be done. On the other hand and extreme, we can see companies that view this as an opportunity to rise up and go all out and carve out an opportunity out of constraint. We have seen both sides of the spectrum. A positive frame of mind, a positive bent of mind and a motivated team is something that makes all the difference.”

How Parle-G continues to exceed its sales record despite a recession

<ul><li><keyword id="29464" type="PERSON" weightage="20" keywordseo="Parle">Parle</keyword>, founded in 1929, has been able to reinvent itself over the years, while keeping its legacy intact.</li><li>We speak to <keyword id="120094" type="PERSON" weightage="20" keywordseo="Mayank-Shah">Mayank Shah</keyword>, Senior Category Head, <keyword id="235733" type="COMPANY" weightage="20" keywordseo="Parle-Products">Parle Products</keyword> about all that the brand has been doing, to further grow its presence in the market. </li></ul>Every time someone says Parle-G and we bet you cannot help visualize yourself dunking one in a steaming cup of chai (and at times losing half of it too). For decades now, Parle-G has been our favorite tea-time companion, the most affordable ‘snack’ that got many of us, from the previous generations, through college, and well basically a comfort food, that is so nostalgia-inducing. Much before Oreo popularized dunking it in milk, we had been doing it with Parle-G. <div type="image" title="Parle Products Creative 1" msid="84131808" hostid="261"></div> Parle, founded in 1929, first started manufacturing orange candies. It was only 10 years later that it manufactured its first biscuit, coming up as an alternative to the more elite British biscuits. From there to now, this homegrown brand has come a long way. While entering the premium segment with <keyword id="4498428" type="PERSON" weightage="20" keywordseo="parle-platina">Parle Platina</keyword> in 2017 that comprises products like Hide &amp; Seek biscuits, Milano cookies, Mexitos nacho chips and Nutricrunch range of nutritious products, it recently further diversified its offering, with the launch of its <keyword id="480300" type="PERSON" weightage="20" keywordseo="Parle-G">Parle G</keyword> Chakki Atta. The aim was to cash in on the momentum that branded atta consumption has been witnessing, since the <keyword id="43587" type="ORGANIZATION" weightage="20" keywordseo="pandemic">pandemic</keyword>. <div type="image" title="Parle Products Creative 5" msid="84131819" hostid="261"></div> Last year, Parle made headlines when they spoke about a surge in sales of Parle-G biscuits during the <keyword id="91743" type="PERSON" weightage="20" keywordseo="lockdown">lockdown</keyword>. This demand was a result of people stocking up on biscuits. It also became the most affordable ‘meal’ for thousands of migrant workers, who we saw with distress, walking back to their villages. It makes for an interesting case study, to understand how this brand, that was started 82 years ago, has stood the test of time. Despite being eight years short of a century old, Parle has tried to reinvent itself over the years, while keeping its legacy alive. A lot of the love for the brand comes from nostalgia, and also from the fact that despite entering newer categories, launching premium products, it is still looked at as an aam-aadmi product. How they react during a crisis also says a lot about the ethos of brands. The pandemic and Parle Last year, even before the pandemic hit India in full force and the government announced its first rounds of lockdown, Parle was prepared. Observing how things were in other countries, it had increased its production, just to make sure that the market never ran out of its biscuits. “What happened after the pandemic was something completely unprecedented, but we had been studying what was happening in neighboring countries, or in Europe, and we decided to double down on our production,” shared Mayank Shah, Senior Category Head, Parle Products. They also started shipping the products, keeping the stocks closer to the market, to minimize supply chain disruptions. As a result, when the lockdown was announced, and most brands were caught unprepared, Parle had its products, and especially Parle-G, in shops across the country. Having said that, Parle did meet with its fair share of troubles. With the sudden lockdown and with uncertainty looming large, there was a shortage of labor which the company was able to tackle by prioritizing its production; it stopped producing many of its offerings that were more labor-intensive. “As a result of this prioritizing, we were able to meet maximum demand. If at normal times, the demand is at 100%, during this time we saw between 160-170% demand, firstly because people were pantry-loading and secondly because of speculative buying,” explained Shah. However, this was also the time for the brand to give back to the society. The brand won a lot of love when it donated close to 3 crore biscuit packets to the government and NGOs. “Parle G is a brand that stands for goodness, in all senses, and we are more than just a corporate brand that is only interested in profits. We have always been a brand for the common man. Last year, raw material prices were going up and we could have easily taken a price hike, we never did that. I have been a part of this company for 20 years and I was surprised when my management came and told me we should be helping people. So each and every employee in the company lives by the philosophy of doing something for the greater good. Parle was launched as a Swadeshi brand to take on global biscuit brands, and this was during this last one year that I saw those philosophies come in play,” said Shah. “We saw so many posts on social media talking about us saying they were proud to see a brand go out and service consumers in the time of their need, it was a very moving experience for us,” he added. Entry into newer segments Over the years, we have seen Parle innovate and expand its portfolio to enter premium segments too. But why did the company, which primarily produces biscuits, decide to launch an atta brand? Shah said that the company has been producing atta for years now, but the product was exported to markets like the Middle East, UK and USA. “The packaged atta segment in India is worth around Rs 20,000 crore and only Rs 10,000 crore out of that is for branded packaged atta, which are either national or regional brands. But the overall atta market is much larger, and that is mostly people going out, buying wheat and getting it milled. During the pandemic however, we observed that people wanted to buy products that they thought were safer and we saw many switching to packaged atta. Penetration of packaged atta in the market is still very low and there is a huge opportunity for growth, so we thought this was the ideal time for us to launch it here,” explained Shah. He is not even worried about the more established players as he feels there is a huge, unpenetrated market for the brand to capture where people who used to buy loose atta are now converting to packaged, trusted brands. Parle had launched its premium range Platina three year back and now wants to focus on it to grow its market share, and to build relevance. “There has been a bit of a slowdown in the growth of our premium products in the last 1.5 years, so we will renew our focus on the segment with the opening up of markets,” explained Shah. <keyword id="6354839" type="UNKNOWN" weightage="20" keywordseo="marketing">Marketing</keyword> during the pandemic During times of crisis, marketing budgets are usually the first to get slashed.While Parle did not cut down majorly on its spends in the last 1.5 years, it did rationalize its spends, shared Shah. “During the pandemic, we did two things, firstly, we increased our digital spends, which helped us a lot, while also continuing to advertise on TV. Secondly, we also tweaked our creatives. Our communication in the last one year has been very different from what we usually do. All our communication has been about what has been happening around us. We paid tribute to the known and unknown frontline workers. That communication also sent a strong signal to our internal stakeholders that its our responsibility to rise to the occasion because so many of them were risking their lives in working during those times, and we wanted to acknowledge that.” Meanwhile, brands like Parle G also gain a lot from nostalgia. The last year has seen people take to social media to talk about their love for the brand, come up with content using the product and also coming up with innovative recipes using the biscuits. “That’s the thing about Parle G asa brand, everybody has their own way of eating the biscuit and they have their own stories. I have my Parle G story too; I stayed in a hostel for about 10 years. For anybody who has stayed in hostels knows how the food is. So we would eat the hostel food at 10 and then get hungry by 12. So we had a routine of having chilled milk from Aarey at 1 pm, we used to add a packet of Parle G to it, mix it and have it as a slurry. That was our lunch for 10 years. It was not just me, I know many people who did it. So we have always had a lot of user-generated content but the pandemic took it to a whole different level. It was heartening to see that kind of response from consumers,” he added. On where the next phase of growth for Parle as a brand will come from, Shah said, “It will come both from our biscuits and non-biscuits portfolios. While the penetration of biscuits is high, the per capita consumption is still lower, compared to Western markets. So I feel there’s still a scope of growth in the <keyword id="11569298" type="UNKNOWN" weightage="20" keywordseo="biscuits-segment">biscuits segment</keyword>.”

How Parle has stood the test of time

<ul><li>While the lockdown has hit businesses across industries, Parle has seen an “unprecedented” rise in sales. </li><li>This was <keyword id="480300" type="PERSON" weightage="20" keywordseo="Parle-G">Parle G</keyword>’s best sales in eight decades. </li><li>As thousands of <keyword id="64595" type="PERSON" weightage="20" keywordseo="migrant-workers">migrant workers</keyword> walked home in May, one of the affordable things for them was the Parle G biscuit. A pack of Parle G costs ₹5. </li></ul>For Indians, the one biscuit that unites all is the good ol’ Parle G. And while the lockdown has hit businesses across industries, Parle has seen an “unprecedented” rise in sales. “We’ve grown our overall market share by nearly 5%... And 80– 90% of this growth has come from the Parle-G sales. This is unprecedented,” Mayank Shah, category head at Parle Products told the <a href="https://economictimes.indiatimes.com/industry/cons-products/fmcg/82-year-old-parle-g-books-best-sales-in-covid-times/articleshow/76275237.cms">Economic Times</a> in an interview. This was Parle G’s best monthly sales in eight decades. <div type="image" title="biscuits." msid="76280326" hostid="261"></div> While it’s true that Parle G’s sales could have come from the fact that it is a staple for most homes (to be had with chai, of course), India’s <keyword id="6425269" type="UNKNOWN" weightage="20" keywordseo="migrant-labourers">migrant labourers</keyword> walking back home could have also been the reason for bumped up sales. As thousands of migrant workers, broke and starving, walked home in May, one of the most affordable things for them was the Parle G biscuit. The smallest pack of Parle G costs ₹5. Not just that, NGOs and welfare organisations too were distributing Parle G at different centres. With Cyclone Amphan in West Bengal and Odisha, donations included Parle G there too. “During the lockdown, Parle-G became the comfort food for many; and for several others it was the only food they had on them. This is a common man’s biscuit; people who cannot afford bread – buy Parle-G. We had several state governments requisitioning us for biscuits… they were in constant touch with us, asking about our stock positions. Several NGOs bought humongous quantities from us. We were lucky to have restarted production from March 25 onwards,” Shah said in the interview. In March, Parle G had also announced that it would donate one crore biscuits every week – but this practice was scheduled for three weeks. Biscuit manufacturers were exempt from the coronavirus lockdown. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/anand-mahindras-sanjivani-solution-for-cos-think-like-a-startup-and-do-a-marie-kondo-style-clean-up-of-portfolio/articleshow/76275190.cms">Anand Mahindra’s Sanjivani solution for cos – think like a startup and do a Marie Kondo style clean up of portfolio</a> <a href="https://www.businessinsider.in/business/corporates/news/titan-company-profit-revenue-growth-for-fourth-quarter-ended-march-31/articleshow/76266434.cms">Titan tightens cost enough to clock a 21% growth in profit⁠— the best in five quarters</a>

Parle G clocked record sales in May⁠— it may be because broke and starving migrant labourers could barely afford anything else

<ul><li>Indian staffing <keyword id="9374166" type="UNKNOWN" weightage="20" keywordseo="company-teamlease-services">company TeamLease Services</keyword> clocked a loss of ₹29.4 crore between January and March 2020, compared to a profit of ₹26 crore the same time last year. </li><li>This was largely due to a ₹49.6 crore one-time charge taken by the company to move to the new tax regime. </li><li>While the revenue has dipped 1% to ₹1,345 crore. </li><li>The announcement was made after market hours. Teamlease’ share price was up by 3.7% before the earnings were out. </li></ul>India's leading staffing company <keyword id="6381892" type="UNKNOWN" weightage="20" keywordseo="TeamLease-Services">TeamLease Services</keyword> clocked a loss of ₹29.4 crore between January and March 2020, compared to a profit of ₹26 crore the same time last year. This was largely due to a ₹49.6 crore one-time charge taken by the company to move to the new tax regime. Without that, the profit for the quarter would have been ₹20.2 crore. While the revenue has dipped 1% to ₹1,345 crore. <div type="image" title="Teamlease" msid="76287958" hostid="261"></div> “We are currently going through unprecedented times and have thus far managed the situation reasonably well, whether it be in terms of connecting with our clients, employees and other stakeholders. We are optimistic at the prospects of growth reviving and do believe that the formal staffing industry would stand to gain from the economy opening up and simplification of labour laws,” said Ashok Reddy, MD at TeamLease Services. The announcement was made after market hours. Teamlease’ share price was up by 3.7% before the earnings were out. The lockdown impact On March 22, the Indian government announced a nationwide lockdown in the wake of coronavirus and the businesses were required to shift to remote working setup overnight. Its business operations were impacted significantly, as India went into a complete lockdown mode. “The lockdowns and restrictions imposed on various activities due to COVID — 19 pandemic have posed significant challenges to all the businesses of TeamLeese and its Subsidiaries. The Company's operations were impacted substantially from 17" March 2020 till the third week of May 2020, when lockdown was gradually lifted. All offices were shut down during the period,” the company said in a statement earlier. <div type="image" title="Teamlease shares" msid="76287983" hostid="261"></div> The company acquired elearning platform SchoolGuru and regulatory technology solutions company Avantis to capitalise on the possibilities of growth spurred by the global pandemic. “We have utilized the lockdown period to be more efficient, the results of which should flow into the future,” Reddy added. Going forward, the company is connecting with its stakeholders to gauge the impact of the COVID situation. On June 4, TeamLease said that it is in talks with the policy makers so as to recommend mitigation policies. However, “these are very early days but the company expects normalcy to be achieved only after a quarter” or in fact, a couple of quarters. TeamLease added nearly 4,000 employees this financial year, taking the total employee count to 220,000 as on March 31, 2020. Its digital arm for hiring the staffing business contributed to 20% of the total hiring for the quarter, the company announced, adding that the hirings are expected to grow by 40% in the next three quarters. See also: <a href="https://www.businessinsider.in/careers/news/hiring-activity-dips-61-in-may-in-india-naukri-com/articleshow/76275012.cms">Hiring activity dips 61% in May in India: Naukri job survey</a> <a href="https://www.businessinsider.in/business/news/parle-g-clocked-record-sales-in-may-it-may-be-because-broke-and-starving-migrant-labourers-could-barely-afford-anything-else/articleshow/76280162.cms">Parle G clocked record sales in May⁠— it may be because broke and starving migrant labourers could barely afford anything else</a> <a href="https://www.businessinsider.in/stock-market/news/the-top-equity-growth-mutual-funds-with-the-best-returns-in-the-last-3-years/slidelist/76278800.cms">The top equity growth mutual funds with the best returns in the last 3 years</a>

TeamLease, one of India’s top recruiting firms, swings to a loss as it moves to a new tax regime

<ul><li>EIH Hotels which operates the Oberoi, Trident chain as well as one of Delhi’s oldest hotels – Maiden, has seen its stock price battered since late February. </li><li>Chalet Hotels, which runs – Marriot, Hyatt and Novotel in India, saw its profits jump three times in Q4FY20 but even then the market fears saw its share price down by 2% on June 9.</li><li>The hospitality, travel and tourism industry being severely impacted due to the coronavirus pandemic.</li></ul>From Oberoi to <keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword>, the Indian hospitality industry opened doors for business on June 8, but the market is still skeptical of people booking rooms. The latest trigger for panic selling in the shares of hotel stocks came was the delay in declaration of earnings by EIH, which operates the Oberoi, Trident chain as well as one of Delhi’s oldest hotels – Maiden. <div type="image" title="EIH shares." msid="76281467" hostid="261"></div> However, EIH is not alone. Chalet Hotels, which runs the premier hotels – Marriot, Hyatt and Novotel in India, saw its profits jump three times to ₹42 crore in the quarter ended March 31. However, even then the market fears saw its share price down by 2% on June 9. With the hospitality, travel and tourism industry being severely impacted due to the coronavirus pandemic, almost all of India’s listed hotels have seen their share price tumble since February. “It is well known that the hospitality and tourism industry is the worst affected by the outbreak of COVID19 (coronavirus). This has been reflected in the stock prices of hospitality stocks, which have declined by 62% to 82% from their 52 week highs,” said a report by Nirmal Bang on the hospitality sector dated June 2. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Share price change since the beginning of 2020 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chalet Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-53% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EIH Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-48.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian Hotels Company Limited </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-37.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lemon Tree Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-60.4% </td></tr></tbody></table> India’s hotels were shut for almost three months due to the coronavirus lockdown, and only some opened up as quarantine centres for international returnees in May. Sanjay Sethi, MD &amp; CEO, Chalet Hotels while announcing initiatives like sanitized stay, deferred hotel construction said they will help in the near mid-term revival. “With the new regulations to open up the economy we are gearing‐up our portfolio for a quick scale up and eagerly waiting to welcome our guests,” said Sanjay Sethi, MD &amp; CEO, Chalet Hotels. However, the optimism of the hotel industry still faces a challenge – whether travel will actually resume anytime soon. With work from home and video conferencing being the new norm, business travel could be impacted. “Leisure demand will likely be the first to bounce back. Domestic corporate travel will depend on the economy,” said a recent report by STR realty. And the economy isn’t looking good. <div type="Article" hostid="261" msid="76274381" title="World Bank projects global economy to shrink by 5.2% in 2020" mstype="2" mssubtype="0"></div> For leisure travel, hoteliers are excluding ‘airline travel’ and are looking at weekend getaway spots or ‘<a href="https://www.businessinsider.in/business/news/oyo-mahindra-holidays-emirates-and-boeing-agree-people-wont-fly-for-a-while/articleshow/75731204.cms">driving destinations</a>’ as India opens its state borders. The hope for budget hotels Corporates, who are cutting down costs, could now turn to budget hotels that they consider safe and hygienic. And that’s what budget hotels like Lemon Tree, OYO, <keyword id="2870818" type="PERSON" weightage="20" keywordseo="FabHotels">FabHotels</keyword> are betting on. OYO Hotels &amp; Homes, FabHotels have all launched a spree of initiatives for sanitized and clean hotels to bring in consumers. “It has been a long wait, but we’re delighted to welcome our guests once again to our select hotels across India. All you need to do is look for a #SanitisedStay tag &amp; we’ll take care of the rest. #AtitiDevoBhava,” wrote OYO founder Ritesh Agarwal on Twitter. OYO’s rival in the budget hotels space – FabHotels too has gone in the similar route advertising “100% Safe Place to Stay” hotels. “From an economic standpoint as hotels and tourism in India have suffered unprecedented financial damage over the last 70 days, losing more than 20% of the annual business already, with a prolonged recovery expected now,” said Vaibhav Aggarwal, Founder &amp; CEO, FabHotels. SEE ALSO: <a href="https://www.businessinsider.in/business/news/parle-g-clocked-record-sales-in-may-it-may-be-because-broke-and-starving-migrant-labourers-could-barely-afford-anything-else/articleshow/76280162.cms">Parle G clocked record sales in May⁠— it may be because broke and starving migrant labourers could barely afford anything else</a> <a href="https://www.businessinsider.in/business/corporates/news/anand-mahindras-sanjivani-solution-for-cos-think-like-a-startup-and-do-a-marie-kondo-style-clean-up-of-portfolio/articleshow/76275190.cms">Anand Mahindra’s Sanjivani solution for cos – think like a startup and do a Marie Kondo style clean up of portfolio</a> <a href="https://www.businessinsider.in/business/corporates/news/titan-company-profit-revenue-growth-for-fourth-quarter-ended-march-31/articleshow/76266434.cms">Titan tightens cost enough to clock a 21% growth in profit⁠— the best in five quarters</a>

The owner of Oberoi and Trident defers results triggering a sell-off in India's hotel stocks

<ul><li><keyword id="6407732" type="COMPANY" weightage="20" keywordseo="inox">INOX</keyword> believes it has sufficient liquidity to fund the business operations throughout 2020. </li><li>The theatre chain has at least 8 movies lined up for the release this year including Sooryavanshi starring Akshay Kumar and Katrina Kaif. </li><li>INOX posted a loss ₹82 crore in the quarter four of the current fiscal year after coronavirus pandemic forced cinema halls to shut down temporarily for as many as 60 days, leading to zero footfalls. </li></ul>After being shut for more than 60 days, people might finally be able to go to theatres in the next few days. INOX, one of India's largest multinational chains with 636 screens across 68 cities, is confident about bouncing back into business as soon as coronavirus is controlled. The theatre chain has at least 8 movies lined up for the release this year. Expected movie releases this year <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Movie </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Expected release month </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stars </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tenet </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">July 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">John David Washington, Robert Pattinson, Elizabeth Debicki, Dimple Kapadia </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sooryavanshi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">October 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Akshay Kumar, Katrina Kaif </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Radhe </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">November 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Salman Khan, Disha Patani </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Black Widow </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">November 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Scarlett Johanson and Robert Downey Jr. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No Time To Die </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">November 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bhuj — The Pride of India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">December 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ajay Devgn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">83 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">December 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Deepika Padukone and Ranveer Singh </td></tr></tbody></table>INOX posted a loss of ₹82 crore in the quarter four of the current fiscal year after the coronavirus pandemic forced cinema halls to shut down temporarily for as many as 60 days, leading to zero footfalls. <div type="image" title="XX" msid="76280695" hostid="261"></div> While cinema halls may open, experts are skeptical whether they will be profitable in the near future. INOX is optimistic about growth. “Can operate without revenue for the next six months” Moreover, INOX believes it has sufficient liquidity to fund the business operations throughout 2020. “Our average monthly cash burn during lockdown is ₹15cr to ₹16cr. Based on this average we are comfortably placed for the next 6 months to operate without any revenue. We can liquidate treasury shares ( of ₹125 cr as on 5th Jun’20) at a short notice to infuse additional funds, INOX said. Moreover, the company is exploring a range of other measures to keep up with funds ranging from rights issue, and public issue. It can also raise ₹350 crore through “sale-lease-back’ of 6 cinema properties and its head office. In its latest regulatory filing, INOX said it has cut costs across all functions and departments. It has also increased liquidity by additional lines of funding through short/long term debts. Apart from this, INOX says it has planned out strict measures to ensure social distancing. Some of which involves avoiding use of physical/printed tickets, crossing out the seats in cinema halls, PPE kits for staff among others. SEE ALSO: <a href="https://www.businessinsider.in/business/news/parle-g-clocked-record-sales-in-may-it-may-be-because-broke-and-starving-migrant-labourers-could-barely-afford-anything-else/articleshow/76280162.cms">Parle G clocked record sales in May⁠— it may be because broke and starving migrant labourers could barely afford anything else</a> <a href="https://www.businessinsider.in/tech/news/alibaba-cloud-to-create-5000-tech-jobs-in-next-10-months/articleshow/76275994.cms">Alibaba Group is set to hire 5,000 technology professionals globally for its cloud business</a>

INOX has 8 movies lined up for release — and it has enough cash to go 6 months without revenue

<keyword id="8506093" type="COMPANY" weightage="20" keywordseo="Jiomart">JioMart</keyword> now offers delivery in nearly 200 locations across the country and is democratising modern retail of essentials by reaching <keyword id="9295849" type="UNKNOWN" weightage="20" keywordseo="several-new-towns">several new towns</keyword>. JioMart is making modern and online retail experience accessible to many more Indians and towns for their daily essentials. All this is resulting in a launch pad for kiranas post-Covid-19, sources said. The platform offers enhanced reach in newer towns and cities with many more essentials, faster delivery and better pricing. With JioMart, some small/semi-urban towns are experiencing an exclusive "essential dedicated e-commerce" service for the first time. There are several towns now where JioMart is the only essentials delivery platform. These include Udupi and Gokak in Karnataka, Kapurthala in <keyword id="6354953" type="PERSON" weightage="20" keywordseo="punjab">Punjab</keyword>, Guna and Sagar in <keyword id="6355554" type="LOCATION" weightage="20" keywordseo="Madhya-Pradesh">Madhya Pradesh</keyword>, Nokha and Bhiwadi in Rajasthan, Junagarh and Himatnagar in Gujarat, Palwal in Haryana among others. It has the least delivery time with delivery ahead of schedule for several orders. JioMart promised delivery within two days and most orders delivered in less than scheduled time. No slots are available on BigBasket and delivery time is 5-7 days on an average for most essentials on Amazon &amp; Flipkart. In terms of choice of essentials, most platforms are offering a select range of packaged products and have limited or no fruits and vegetables (F&amp;V) options. There are no F&amp;V options on Flipkart. Amazon Pantry has limited F&amp;V options in big towns and minimal choice (onions &amp; potatoes) in the small towns. Often essentials are priced very high by third party sellers, listed on marketplace, for delivery in small towns. Availability of listed products is much higher than on other platforms. In terms of the overall reach, JioMart offers delivery in nearly 200 locations across the country. On the other hand, Amazon Pantry is live in several cities and towns but current availability is limited to around 100 cities currently. In some cities, third party sellers on Amazon may be offering select essentials/grocery. Bigbasket is available in nearly 30 cities. Flipkart is offering its <keyword id="7088894" type="COMPANY" weightage="20" keywordseo="flipkart-supermart">Flipkart Supermart</keyword> service in 26 select cities through a tie up with Vishal Mega Mart stores. Jiomart is offering better pricing and offers a minimum 5 per cent less than MRP on packaged products. There is a highly competitive pricing on JioMart and the most commonly ordered essentials are priced higher on other platforms as compared to JioMart, especially in small towns. This can be seen through Monday evening's pricing for Mumbai where Red Label tea 1 kg packet is priced at Rs 423 in DMart, Rs 450 in Bigbasket, Rs 410 in Amazon and Rs 408 in Jiomart. Similary, Saffola Gold 1 litre is priced at Rs 135 in DMart, Rs 149 in Bigbasket, Rs 137 in Amazon and Rs 132 in Jiomart. Parle G 800 gm is available for Rs 65 on DMart, Rs 70 on Bigbasket, Rs 68 on Amazon and Rs 63 on Jiomart. Potato is available at Rs 36 from DMart, Rs 39 from Bigbasket, Rs 39 from Amazon and Rs 32 from Jiomart. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/three-ways-tcs-infosys-and-other-it-giants-in-india-are-trying-to-cut-costs-but-its-not-going-to-increase-their-profitability/articleshow/76021884.cms" data-type="tilCustomLink">Three ways TCS, Infosys and other IT giants in India are trying to cut costs — but it’s not going to increase their profitability</a>

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