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Director <keyword id="17467" type="General" weightage="100" keywordseo="vishal-bhardwaj" source="Orion">Vishal Bhardwaj</keyword> is all set to come up with an adaptation of the renowned detective fiction mystery novel 'The Sittaford Mystery.' Titled 'Charlie Chopra &amp; The Mystery Of Solang Valley', Sony LIV's original is helmed by <keyword id="3039" type="General" weightage="80" keywordseo="bhardwaj" source="Orion">Bhardwaj</keyword>'s home banner - <keyword id="6354951" type="General" weightage="80" keywordseo="vishal" source="Orion">Vishal</keyword> Bhardwaj Pictures along with Priti Shahani's <keyword id="11991004" type="General" weightage="50" keywordseo="tusk-tale-films" source="Orion">Tusk Tale Films</keyword> in association with <keyword id="210859" type="General" weightage="80" keywordseo="agatha-christie" source="Orion">Agatha Christie</keyword> Limited. Set in the snow-capped mountains of Himachal Pradesh, the series will follow the journey of Charlie Chopra and her quest to uncover a deep mystery. Besides donning the hats of director and co-producer, Vishal Bhardwaj also serves as the show's co-screenwriter, alongside Anjum Rajabali and Jyotsna Hariharan. The series boasts an impressive ensemble cast featuring Wamiqa Gabbi, Priyanshu Painyuli, Naseeruddin Shah, Neena Gupta, Ratna Pathak Shah, Gulshan Grover, Lara Dutta, Chandan Roy Sanyal, and Paoli Dam amongst others. This project marks Vishal Bhardwaj's OTT debut. Talking about this project Saugata Mukherjee, Head Content of Sony LIV said, "Detective fiction has been a perennial favourite with our audience and what better than an Agatha Christie novel. We are delighted to be bringing one of her classics 'The Sittaford Mystery' adapted rather skilfully in an Indian setting by none other than Vishal Bhardwaj. We are thrilled to have Vishal onboard as his ingenuity in adapting literary classics remains unrivalled." Vishal Bhardwaj, Director and Producer of Vishal Bhardwaj Films stated, "I grew up devouring all Agatha Christie mysterious tales. Her plots, characters and setting remain unparalleled in the genre and continue to excite storytellers even today. It has been an incredible journey collaborating with James Prichard , great grandson of Agatha Christie, who always brought unique perspectives to our team. Sony LIV and Priti Shahhave been the perfect partners for me to adapt this thrilling and mysterious world." Priti Shahani, Founder of Tusk Tale Films Private Limited said, "Working with Vishal Bhardwaj as the director of Sony LIV's adaptation of Agatha Christie's "The Sittaford Mystery" is truly an exciting journey. His ability to attract the right combination of talent and his artistry of bringing uniqueness and colour in each character make his stories truly captivating. This adaptation will be a beautiful representation of Agatha Christie's original work." James Prichard, CEO of Agatha Christie Limited said, "My great grandmother has many fans in India and I am really excited for them to enjoy this adaptation by Vishal Bhardwaj which takes the story of The Sittaford Mystery and reimagines it in India." James Prichard, Basi Akpabio and Leo Dezoysa will act as Executive Producers on the show on behalf of Agatha Christie Limited. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/hyundai-creta-bajaj-pulsar-emerge-as-the-most-popular-car-and-bike-droom-report/articleshow/98275912.cms">Hyundai Creta, Bajaj Pulsar emerge as the most popular car and bike: Droom report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/stock-price-run-up-in-paytm-nykaa-zomato-pb-fintech-delhivery-could-see-large-shareholders-cashing-out-bofa/articleshow/98274102.cms">Stock price run up in Paytm, Nykaa, Zomato, PB Fintech &amp; Delhivery could see large shareholders cashing out - BofA</a>

Vishal Bhardwaj to make OTT debut with an Agatha Christie adaptation

Encouraged by volume growth, margin improvement and recovery in rural sales, India's top fast-moving consumer goods (FMCG) companies are now back to their normal growth cycle as they step up investments as well as spending on advertising and marketing. <keyword id="84065" type="General" weightage="20" keywordseo="fmcg-companies" source="Orion">FMCG companies</keyword> are chasing volume growth again after a gap of a few quarters, offering higher grammage and price cuts thanks to inflationary pressures softening on key raw materials for everything from soaps to food items. Hindustan Unilever (HUL), Dabur, Marico, Godrej Consumer Products, ITC, Tata Consumer Products and Nestle reported volume recovery in the March quarter and said they expect a gradual pickup in consumption in FY24. "The prospects of a sustained recovery have strengthened. After five quarters of volume decline, the sector has posted volume growth," Marico MD and CEO Saugata Gupta said in the company's earnings conference call. "Urban consumption has been steady while rural is showing some convincing signs of having bottomed out." Foods continue to drive growth for the sector, while the home and personal care segment also entered positive territory after an extended slowdown. Marico, which owns popular brands like Saffola, Parachute and Livon, reported an 18.7 per cent increase in its consolidated net profit to Rs 305 crore for the fourth quarter ended March 2023 while sales rose 3.65 per cent to Rs 2,240 crore, driven by single-digit volume growth and moderation in commodity prices. HUL said rural areas have shown improvement with higher value growth sequentially. While HUL's volumes continue to fall, the extent of decline has reduced versus last quarter. "The slowdown in the FMCG market is bottoming out. This improvement was led by volumes, which have turned flat in this quarter, versus a mid-single-digit decline in the December quarter," said HUL CFO Ritesh Tiwari in its earnings call. The makers of popular brands such as Rin, Lux, Surf Excel and Pond's said it expects the price-volume growth to rebalance further. "We expect volumes to recover gradually due to high levels of cumulative inflation and the fact that consumption habits typically recover with a lag," he said. For the March quarter, HUL reported an increase of 12.74 per cent in its consolidated net profit to Rs 2,601 crore. Net sales rose 10.83 per cent to Rs 14,926 crore. However, HUL warned the near-term operating environment is likely to remain volatile due to global slowdown risk and uncertainty related to weather phenomena like El Nino and heatwaves. Abneesh Roy, Nuvama Group Executive Director for Institutional Equities, said the outlook for the <keyword id="495979" type="General" weightage="20" keywordseo="fmcg-industry" source="Orion">FMCG industry</keyword> was "positive" with volume growth and improvement in margins for most companies in FY24. "As raw material prices are cooling off, companies shall start paring prices via grammage increase or gradual price reductions. Price growth shall ease while volume growth will improve," he said. Roy also cautioned about the impact of El Nino and the "aggression" from billionaire Mukesh Ambani-led Reliance Industries Ltd, a known disrupter, which aims to be a big player in the USD 110-billion FMCG segment. Meanwhile, Godrej Consumer reported an 11.47 per cent increase in its India revenue to Rs 1,822.92 crore in the March quarter. This was led by volume growth of 11 per cent. Its home care segment, which consists of household insecticides and air fresheners, grew 14 per cent and 17 per cent, respectively. "We expect to build on the current momentum and deliver volume-led growth along with upfront marketing investments and improvement in profitability," said its Managing Director and CEO Sudhir Sitapati. Britannia Executive Vice-Chairman and Managing Director Varun Berry also expressed optimism. "Volume growth will be certainly much better than this year," he said. On commodity prices, Berry said there is deflation in prices of palm oil, laminates and corrugated material for packing but flour and milk prices are soaring. "There are certain brands and certain packs where we have already initiated price reductions or promotions," he said. In the March quarter, Britannia reported a 47.53 per cent jump in consolidated net profit to Rs 557.60 crore. Its revenue from operations rose 10.93 per cent to Rs 3,892.02. Similarly, Dabur reported volume growth of 11 per cent during the March quarter and 14 per cent for FY23. Its quarterly net profit was Rs 292.76 crore and revenue from operations stood at Rs 2,677.8 crore. "Despite near-term concerns around inflationary pressures, we plan to accelerate the growth momentum by continuing to invest in brand building, innovation, and capabilities that will drive growth," said Dabur India CEO Mohit Malhotra. Other companies also recorded growth. ITC's revenue from the FMCG segment rose 19.34 per cent to Rs 4,951.17 crore from Rs 4,148.62 crore while EBITDA jumped 76 per cent. Nestle, the maker of Maggi, Kitkat and Nescafe, reported an increase of 24.69 per cent in its net profit to Rs 736.64 crore in the March quarter. Sales rose 20.43 per cent to Rs 4,808.40 crore. Tata Consumer reported a 21.12 per cent rise in its consolidated net profit to Rs 289.56 crore. Its revenue from operations was up 13.96 per cent at Rs 3,618.73 crore. Tata Consumer said it recorded growth in the India beverages business and food. It had a "strong margin growth and strong topline growth driven both by volume and price," the company said in its earnings call. "We have started seeing volume growth coming back. The impact of inflation and monetary tightening on economic growth and demand seems to be slowing down, but I would keep my fingers crossed and monitor it closely," said Tata Consumer MD and CEO Sunil D'Souza. "In the near term, we are seeing stability." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/zomato-net-loss-narrows-to-188-crore-in-q4-revenue-rises-70-yoy/articleshow/100358894.cms">Zomato net loss narrows to ₹188 crore in Q4, revenue rises 70% YoY</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mankind-pharma-pnb-among-stocks-to-become-largecap-from-midcap-mutibagger-rail-vikas-nigam-to-turn-midcap-from-smallcap/articleshow/100356527.cms">Mankind Pharma, PNB among stocks to become largecap from midcap; mutibagger Rail Vikas Nigam to turn midcap from smallcap</a>

FMCG makers expect sustained recovery in volume and margins with price reduction in FY24

<ul><li><keyword id="6361485" type="ORGANIZATION" weightage="20" keywordseo="marico">Marico</keyword>’s foray into Ayurveda products is through its popular brand <keyword id="163228" type="ORGANIZATION" weightage="20" keywordseo="Saffola">Saffola</keyword>.</li><li>The company has launched several products including <keyword id="9948907" type="UNKNOWN" weightage="20" keywordseo="saffola-kadha">Saffola Kadha</keyword> Mix and Saffola Golden Turmeric Milk Mix. </li><li>With the coronavirus pandemic, people have been turning to immunity-boosting products and healthy foods.</li></ul>India’s leading FMCG company Marico has just announced its foray into Ayurvedic products. With the coronavirus pandemic, people have been turning to immunity-boosting products and healthy foods that will keep them strong and away from the virus. And the Harsh Mariwala-led company is looking to cash in on the trend with this move. Marico’s foray into Ayurveda products is through its popular brand Saffola. The company has launched several products, including Saffola <keyword id="1407374" type="PERSON" weightage="20" keywordseo="kadha">Kadha</keyword> Mix and Saffola Golden Turmeric Milk Mix. “There has been a marked change in consumption habits with consumers looking for preventive solutions in the healthy and immunity-boosting space. The new range of Saffola ImmuniVeda ayurvedic products – the Kadha Mix and the Golden Turmeric Milk Mix - are contemporary format innovations which make these traditional recipes more enjoyable to all family members while boosting immunity from within,” said Sanjay Mishra, Chief Operating Officer, India Sales &amp; Chief Executive Officer, New Business, Marico in a statement. The company had recently said that it plans to boost revenue through a focused approach in the ‘health’ foods segment. “We finished 2019–20 at ₹200 crore in foods and we want to take it up to at least ₹300 crore-plus by 2020-21. And, the attempt is to hit the ₹500-crore mark in the next two years,” said Saugata Gupta, CEO of Marico in a <a href="https://www.thehindubusinessline.com/companies/marico-plans-to-inject-a-booster-dose-to-foods-biz/article32593755.ece">recent interview.</a> SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/amid-india-china-standoff-tencent-is-back-with-an-investment-in-flipkart/articleshow/78140794.cms">Amid India-China standoff, Tencent is back with an investment in Flipkart</a> <a href="https://www.businessinsider.in/policy/economy/news/rbi-governor-shaktikanta-das-speech-highlights-on-16-september-2020/articleshow/78143035.cms">RBI Governor highlights five key areas that will determine India's growth in the post-COVID world</a>

Marico looks to gain from the ‘immunity boost’ trend during COVID – forays into Ayurvedic products

<ul><li>In Q4FY21, Marico’s Revenue from Operations grew by 34% YoY to Rs 2,012 crore.</li><li>The company witnessed strong momentum in each of the core portfolios of the India business while steadily strengthening its play in Foods through innovation.</li></ul>FMCG Giant Marico has released its financial statement for Q4FY21. Its advertising and sales promotion grew by 35% YoY as the company invested aggressively mainly on core franchises and the Foods innovations, while continuing to drive spend rationalization and channelize investment towards growing franchises. Saugata Gupta, MD and CEO commented, “With the pandemic in India taking a severe turn, the year has ended on a rather sombre note. Marico stands united and committed to making a difference in the lives of all our stakeholders and the entire community at large, hoping that we overcome these extremely difficult times at the earliest and emerge stronger from it. It is the tremendous grit and fighting spirit of our people that has allowed both the domestic and international businesses to rebound impactfully on a year-on year basis. We expect the India business to remain resilient amidst uncertainty in the near term and see through the transient spike in input costs, while the stability in the International business is also reassuring. Over the medium term, the Company will continue to prioritise maintaining volume-driven growth momentum and franchise expansion even in times of temporary cost pressures by focusing on growing the core, aggressive foods diversification, executional excellence and investment behind capability and brand building.” In FY21, Marico’s Revenue from Operations grew by 10% YoY to INR 8,048 cr. (USD 1.1 billion) backed by volume growth of 7% in the domestic business and constant currency growth of 7% in the international business. EBITDA was at INR 1,591 cr., up 8% YoY and PAT excluding one-offs, was at INR 1,162 cr., up 11% YoY. In Q4FY21, Revenue from Operations grew by 34% YoY to INR 2,012 crores (USD 276 million) backed by robust volume growth of 25% in the domestic business and constant currency growth of 23% in the international business. The company witnessed strong momentum in each of the core portfolios of the India business while steadily strengthening its play in Foods through innovation. Rural continued to lead the way in traditional trade, growing at 1.8x of urban. Ec0m (now 8% of domestic business) and CSD also fared well, while Modern Trade dipped due to pantry loading in the base quarter. Gross margin was down 517 bps owing to the severe input cost pressure, as pricing interventions in the core portfolios were not commensurate to the inflation. Advertising &amp; Sales Promotion grew by 35% YoY as the Company invested aggressively mainly on core franchises and the Foods innovations. EBITDA was up 13% YoY, as tight cost controls and operating leverage kicked in to reduce the impact on EBITDA margins to 300 bps. PAT excluding one-offs was up 17% YoY. Reported PAT was up 13%. As per the company's statement, Saffola Honey has been scaling up faster than their launch expectations. The brand exited FY21 just short of a double-digit market share in key Modern Trade chains and has garnered 25%+ market share in E-Commerce. The brand is on course to touch revenues of INR 100 cr. in the coming year. Expanding its presence in Foods, the Company launched Saffola Oodles, 5-minute ring-shaped noodles, containing no refined flour and with the goodness of whole grain oats, real vegetables and semolina. The company holds its medium term aspiration of delivering 8-10% domestic volume growth and 13-15% revenue growth. The Company would be comfortable maintaining its threshold operating margin of 19% plus over the medium term.

Marico's profit up by 14.1% to Rs 227 crore in Q4FY21; advertising and sales promotion sees a growth of 35% YoY

<ul><li>Finance Minister of India Nirmala Sitharaman presented the Union Budget on February 1, 2022.</li><li>Struggling with high inflation and tepid rural demand, FMCG companies were hopeful for some positive news, steps and reforms that would help boost consumption in the economy.</li><li>However, with no changes in personal tax, there isn’t for hope for a drastic change in consumption and demand.</li><li>At the same time, there are enough subsidies to support the rural areas of the country.</li><li>Here’s what leading FMCG companies have to say about the Union Budget 2022-2023.</li></ul>The Union Finance and Corporate Affairs Minister Nirmala Sitaraman presented the Union Budget for 2022-2023 on February 01, 2022. The government announced that 5% of the annual collections under the Universal Service Obligation Fund will be allocated to improve broadband and mobile service penetration in rural India. This move will allow Fast Moving Consumer Goods (FMCG) brands and all businesses to cast their net a little wider in rural areas via mobile services. The government’s plan to expand the National Highway network by 25,000 KM, the Gati Shakti plan to strengthen seven engines of infrastructure, the launch of 100 new cargo terminals, will further open up new roads for brands and improve logistics efficiency. It will also create new job opportunities in rural areas, improving consumption and demand. The finance minister also mentioned that the government intends to pay ₹2.7 lakh crore worth of minimum support price (MSP) direct payments to wheat and paddy farmers. The government is also looking to deploy drones for agriculture monitoring, crop assessment, digitisation of land records and spraying of insect pesticides. These initiatives will help boost rural incomes and aid the growth of FMCG companies. The Union Budget aims to facilitate ease of doing business and give a push to consumption by providing employment opportunities, improving infrastructure, focusing on technological advancement and accessibility. Here’s how these subsidies for rural India will pave the way for FMCG growth: Mayank Shah, Senior Category Head, Parle Products: First of all, putting money in the hands of consumers really helps, so they go out and buy products. So that was more on the front of ensuring that the demand remained robust given that we have gone through two years of pandemic. That was something that industry expected, either by tax cut, or by increasing the slabs tax brackets or by probably increasing the standard deduction limit. Those were the things that we expected but not much has been done there. However, on the second front of job creation, the government has done a lot. The budget talks about seven engines driven by PM GatiShakti that will definitely boost employment and increase the number of jobs. The budget also talked about 60 new jobs to be created in the next five years. That is relatively a longer process compared to the first expectation which was putting money in the hands of consumers, which would have yielded immediate results. A 20,000 crore boost in transportation infrastructure will definitely help in terms of job creation going forward. Another thing the government would have ensured on the rural front was increased allocation to MGNREGA or direct benefit transfer. In Fact they chose the other way. In terms of rural demand, when you're talking about putting money in the hands of rural consumers by increased MSP and increased MSP allocation, it is also going to have an impact on the inflation because if you increase the MSP, that eventually is going to increase the cost of agri products, primary inputs in food processing. So procurement is going to be increased. The current challenge ahead of most FMCG companies, which is managing inflation, probably would be aggravated, so I consider it to be neutral. Probably placing this money in the hands of consumers through MGNREGA or DBT would have ensured demand to remain robust. Ahmed ElSheikh, President, PepsiCo India: Reviving economic growth, increasing consumption, and fostering investment to fuel post-pandemic growth have been key objectives for the government, and the <keyword id="12134566" type="General" weightage="20" keywordseo="union-budget-2022" source="Orion">Union Budget 2022</keyword> reflects this very intent. This year's Union Budget lays forth a vision for India at 100 years. The Government is leading from the front by raising public sector spending to keep the economic recovery on track. Digitization combined with infrastructural creation will accelerate economic development, stimulate innovation and entrepreneurship enhance living standards while keeping sustainability at its core. The increased outlay for PM Gati Shakti projects for multi-modal connectivity including 100 new railways logistics hubs coupled with steps like enhancing local oilseed production, extending the last date for starting production for new manufacturing units, encouraging alternate cropping will aid growth of the FMCG sector and further strengthen Govt’s vision of an Atmanirbhar Bharat. Saugata Gupta, MD and CEO, Marico Limited: With this Union Budget, the government has laid out a growth oriented, future focused blueprint for India. By prioritising job creation, infrastructure growth and strengthening digital capabilities while making ‘inclusive development’ and ‘financing of investments’ two of the key focal points of the Budget, the government is successfully laying the groundwork for faster financial inclusion and expansion of the credit ecosystem. It has undertaken some key initiatives targeted towards credit growth, farmer welfare, improving the health and education infrastructure, digital currencies and start-ups which will benefit young aspirational Indians. If executed well, the budget will trigger the virtuous cycle of economic growth and employment creation, leading to momentum in growth. I believe that the budget has several inclusive measures and policies that balance consumer needs with industry requirements. It encapsulates the spirit of an Atmanirbhar Bharat and takes strong steps towards fulfilling that vision. Venkatesh Vijaraghavan, Director &amp; CEO - FMCG, CavinKare: We welcome the futuristic, investment-led, growth-oriented Budget with a strong impetus to infrastructure and capability building, which would boost GDP, Atmanirbartha, economic stability and job creation, thereby reaping demographic dividend. Ghanshyam Khandelwal, Chairman, BL Agro: The budget was as expected. We didn't anticipate the industry to take centre stage because several schemes for the FMCG sector have already been implemented in recent years. However, the mention of a rationalised strategy to improve domestic oilseed production and minimise reliance on imports was welcomed. A more promising statement was the package that centers on farmers adopting appropriate fruits and vegetables, as well as proper harvesting practices. The move will go a long way towards uplifting the food processing sector. Harsha V. Agarwal, Director, Emami: A very forward-looking budget with focus on capital expenditure which should drive growth. The ease of business in India has also been prioritised. So over all the budget pulls no surprises and focuses on growth of the Indian economy. Amrinder Singh, Director, Bonn Group of Industries: As the social security benefit of state and central government employees has been enhanced in this Union budget 2022, we are expecting that it will spur the consumption. The government has put money in consumer’s hands and ensured that the demand is not getting affected by increasing the tax deduction limit by 14 percent of the state government employees. Vikram Agarwal, Managing Director, Cornitos: The Union Budget 2022-23 is a progressive budget, our Government is concentrating on infrastructure, employment generation, and future developments. This appears to be a growth-oriented budget as efforts are being made to reduce compliance burdens and improve ease of doing business. The Budget has given an extension of the ECLGS Scheme which would provide much-needed help to the MSME sector especially the hospitality and related food processing segments. The past few years have been tumultuous for the hospitality segment and I am hopeful that this initiative gives the industry a much-needed boost.

Union Budget 2022-2023: Here’s how FMCG brands reacted to the budget

<ul><li>Marico has appointed <keyword id="1328136" type="PERSON" weightage="20" keywordseo="Koshy-George">Koshy George</keyword> as its Chief Marketing Officer. </li><li>George was in-charge of global leadership for two of <keyword id="6365619" type="COMPANY" weightage="20" keywordseo="hindustan-unilever">Hindustan Unilever</keyword>'s iconic personal care brands - <keyword id="6616182" type="UNKNOWN" weightage="20" keywordseo="Lifebuoy">Lifebuoy</keyword> &amp; Pears. </li><li>Marico could now expect George to ramp up its marketing efforts to boost its exports. </li></ul>One of India’s leading consumer brand, Marico – home to legacy products like Parachute and Saffola – has just poached a global branding expert from rival Hindustan Unilever (HUL). The company has appointed Koshy George as its Chief Marketing Officer. George was in-charge of global branding for two of HUL’s iconic personal care brands - Lifebuoy &amp; Pears while also leading a global consumer platform for the skin cleansing category across key brands like Dove, Lux, Sunlight among others. So what will be George’s mandate at Marico? “He has a very exciting and challenging agenda in driving premiumisation of our portfolio over the next few years,” Saugata Gupta, Managing Director and Chief Executive Officer at Marico said. This could include both new products as well as rebranding initiatives to target upmarket customers who would pay more for a better brand and experience. With George’s experience in leading a brand to go global, it is expected that Marico will expect him to look at its global marketing portfolio too. Marico has made its mark in 25 countries across emerging markets of Asia and Africa, with marquee brands in the categories of hair care, skin care, edible oils, health foods, male grooming, and fabric care. Marico has been focussing on its foreign markets (Bangladesh, Vietnam, Middle East and North Africa and South Africa) also ramping up expansion into these markets. "The company is aiming for 8-10 percent volume growth over the medium term (3 to 5 years), coupled with healthy market share gains," Marico CFO Vivek Karve told <a href="https://www.moneycontrol.com/news/india/marico-aims-up-to-10-volume-growth-healthy-market-share-gains-in-5-years-2911571.html">Moneycontrol.</a> The company saw a 22% revenue from its international businesses as of March 2018. Its annual revenue for the year ended March 2018 stood at ₹6,417.7 crores. For George, the move means coming full circle to where he started out. He joined Marico as a management trainee and went on to be an Area Sales Manager before joining HUL where he rose the ranks in the 14 years that followed. He was the Global Marketing Director - skin cleansing, in his last role at HUL. See Also: <a href="https://www.businessinsider.in/hindustan-unilever-and-glaxosmithklines-domestic-consumer-unit-are-merging-in-what-is-said-to-be-indias-largest-consumer-goods-deal-ever/articleshow/66933852.cms">Hindustan Unilever and GlaxoSmithKline’s domestic consumer unit are merging in what is said to be India’s largest consumer goods deal ever</a> <a href="https://www.businessinsider.in/slower-growth-at-hindustan-unilever-hits-8-figure-salaries-of-top-executives/articleshow/59073411.cms">Slower growth at Hindustan Unilever hits 8-figure salaries of top executives</a>

Marico seeks a facelift – poaches a brand expert from HUL

PM <keyword id="6354642" type="PERSON" weightage="20" keywordseo="Modi">Modi</keyword>’s policy of demonetisation that scrapped off Rs 500 and Rs 1000 notes from circulation overnight has badly affected the businesses in India. <a href="http://www.businessinsider.in/you-may-have-to-pay-an-extra-tax-for-eating-pizza-and-burgersafter-budget-if-pm-modi-says-a-yes/articleshow/56736441.cms">FMCG category</a>, which relates to our daily consumption, has been badly hit. While the impact of a dip in sale in double in the urban markets as compared to the rural, date from <keyword id="4096912" type="UNKNOWN" weightage="20" keywordseo="brickworks-media">Brickworks Media</keyword> (a concern of Chrome DM), a research and data analytics company shows, tea has been the least affected item of demonetization at 10.77% and noodles ranks as the mostly affected at 33.23%. Even daily necessities like soaps and toothpaste saw a dip of <a href="http://www.businessinsider.in/you-may-have-to-pay-an-extra-tax-for-eating-pizza-and-burgersafter-budget-if-pm-modi-says-a-yes/articleshow/56736441.cms">16.17% and 18.5%</a> in the urban market respectively. <a href="http://www.businessinsider.in/you-may-have-to-pay-an-extra-tax-for-eating-pizza-and-burgersafter-budget-if-pm-modi-says-a-yes/articleshow/56736441.cms">ALSO READ: You may have to pay an extra tax for eating pizza and burgers after budget, if PM Modi says a yes</a> 
 With the annual <keyword id="25455" type="ORGANIZATION" weightage="20" keywordseo="finance">finance</keyword> budget been pre-poned this year, the <keyword id="34523" type="CITY" weightage="100" keywordseo="fmcg">FMCG</keyword> companies are pinning high hopes on a growth oriented budget this time. 
 
“We are expecting a growth-oriented Budget with various stimuli to revive<a href="http://www.businessinsider.in/you-may-have-to-pay-an-extra-tax-for-eating-pizza-and-burgersafter-budget-if-pm-modi-says-a-yes/articleshow/56736441.cms"> consumer confidence</a>… proactive reforms to stimulate demand by increasing the money in the hands of the emerging middle class and rural India, this will help bring FMCG growth back on track,” <keyword id="152630" type="COMPANY" weightage="20" keywordseo="Godrej-Consumer-Products-Ltd">Godrej Consumer Products Ltd</keyword> Managing Director <keyword id="218886" type="PERSON" weightage="20" keywordseo="Vivek-Gambhir">Vivek Gambhir</keyword> told the media. 
 With every other budget, restraining deficits and delivering higher growth is going to be a great challenge. <keyword id="40233" type="COMPANY" weightage="20" keywordseo="emami">Emami</keyword> group, leading FMCG brand in <keyword id="6354925" type="COMPANY" weightage="20" keywordseo="Kolkata">Kolkata</keyword> expects the budget to address issues related to GAAR, POEM, GST. Also a growth oriented budget is what they need at this hour to boost consumption, increase public investment, promote <a href="http://www.businessinsider.in/you-may-have-to-pay-an-extra-tax-for-eating-pizza-and-burgersafter-budget-if-pm-modi-says-a-yes/articleshow/56736441.cms">digitisation</a>, broaden tax base and lead higher growth”. <a href="http://www.businessinsider.in/statutorywarning-cigarettes-to-cost-more-after-budget/articleshow/56726842.cms">ALSO READ: Statutory Warning: Cigarettes to cost more after budget?</a> 
 
“While tax rates are expected to reduce with increased basic exemption limits, but taxpayers base is expected to broaden. Ease of doing business would be another focus area in currently subdued business environment. Agriculture, infrastructure and service sectors are also expected to get due attention and support,” said Emami CFO &amp; CEO Finance Strategy &amp; Business Development N. H Bhansali. 
 To believe an agency news report, the sales of <keyword id="6365619" type="CITY" weightage="20" keywordseo="Hindustan-UniLever">Hindustan Unilever</keyword> and <keyword id="127653" type="COMPANY" weightage="20" keywordseo="Jyothy-Laboratories">Jyothy Laboratories</keyword> have dipped quite during the year end months. The agency has learnt that they admitted the fact that ‘adverse liquidity’ in the market has affected them. 
 
 ​ “We are expecting an all-inclusive, progressive Budget to assist the sustainable economic growth of our country. In order to do so, it is essential for the government to focus on three crucial factors – boosting the rural sector and agricultural productivity, providing benefits to the salaried tax payers in order to increase disposable income in the urban markets, and encouraging private investment along with generation of employment because for the demographic dividend to be leveraged, job creation is very critical. These steps coupled with last year’s good monsoon will drive both urban and rural consumption,” said Saugata Gupta, MD &amp; CEO, Marico Limited.

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<keyword id="126855" type="PERSON" weightage="80" keywordseo="Harsh-Mariwala">Harsh Mariwala</keyword>, the 63-year old patriarch of <a href="http://www.businessinsider.in/searchresult.cms?query=marico">Marico Ltd</a>, is a man of many beliefs-the foremost being in the art of letting go and reinvention. 
 
He revolutionized the Indian <a href="http://www.businessinsider.in/searchresult.cms?query=fmcg">FMCG</a> sector with his consumer goods company <keyword id="6361485" type="CITY" weightage="80" keywordseo="Marico">Marico</keyword>, where he has been calling the shots since 1990. Earlier known as Bombay Oil Industries, the family-owned business came to be christened as Marico Ltd under Mariwala’s presence who knew he had to change with the times and carve a niche for himself. 
 
With newer strategies and innovations, he ensured Marico Ltd not only dominated the market but also inculcated ‘innovating’ as their inherent company culture. 
 Citing an example, he reminisces about how <keyword id="1376777" type="UNKNOWN" weightage="80" keywordseo="Parachute-oil">Parachute Oil</keyword> was initially sold in tin cans. The challenge at hand was to sell the oil in plastic as it was cheaper, but retailers were vehemently against the idea as it had been tested before and had failed mainly because it caused spillage. 
 
“We didn’t take no for an answer. We were at it until we proved that the product remained intact. It took us close to 10 years to convert the market from tin to plastic- and in the process our market share rose too.” 
 
That was however, not the end of the road for them. 
 
“Then came winters and we realized that we had to find an alternative because coconut oil freezes in winter. So, we again innovated and came up with an easy jar. To ward off copycats, we relied on technology and the result was thus- a pilfer-proof fliptop,” he says. 
 
But, reinventing also comes with the price of letting go, and Mariwala was quick to understand that. 
 
“The problem with family-owned businesses in India is they do not look at the bigger picture,” he states, adding that it’s only fair that they professionalize with time so that their growth is not restricted. 
 
Keeping in line with this view, Mariwala stepped down as the company’s Managing Director and handed over the reins to CEO Saugata Gupta in April last year. 
 
Though Marico is one of the rare family-owned businesses in India where professionals are well-entrenched, the veteran feels that such a scenario is inevitable, though not without its fair share of hiccups. 
 
“The challenges to this are many. You have to ensure a work culture that is encouraging and appreciating, but in return you also get the reward of employees who care about the organization as their own. The real task is however to sync the founder’s mentality with that of the employees. Every day is a work towards building the path towards a successor pipeline,” he admits. 
 
That’s not all; he also thinks it’s very important for businesses to get professional help. “As one’s business expands, it’s imperative that one recruits the right talent, what with the many disruptions happening worldwide. And, there’s no better way to do that than by seeking outside expert help. It’s time to destroy the traditional forms of doing business.” 
 
The fact that the customers have evolved and have become more demanding is more reason why businesses should ditch traditional methods, he believes. 
 
“Take the example of edible oils, for instance. It started with loose oils, then customers wanted filter, packed and refined oil and ultimately now blended and butter-substitute oils are the norm,” he adds, highlighting how sacrosanct it is for a business to keep innovating. 
 
When asked why is it that most Indian businesses fighting for recognition in the FMGC sector don’t rank very high on innovation, Mariwala feels that to some extent, India’s complex food laws are to be held accountable for that. 
 
“There’s a vast difference between how food laws are implemented and how they are regulated, in real life. It’s thus very important that food regulators work in tandem with food operators. What happened to <a href="http://www.businessinsider.in/searchresult.cms?query=maggi">Maggi</a> could happen to anyone. But, it could also have been easily avoided,” he feels. 
 
Ask him what should entrepreneurs do differently and Mariwala, who's also a part of the Young President Organisation(YPO) has a quick tip, “90% of running a successful business in identifying your right to win- something that your competition doesn’t have. It could be anything from a business model to a certain technology. Once you have that figured out, everything just falls in place, with a little bit of work,” he concludes. 
 
Image credit: Indiatimes

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