While reforms may translate into new opportunities for firms like ITC, Adani Wilmar and Reliance Retail, farmers are unlikely to use it for fear of upsetting commission agents.
Despite near-term headwinds of rising input costs and the possibility of lower demand for products as Covid dented rural & urban India, and impacts both production & consumption, analysts remain bullish on stocks of fast moving consumer goods (FMCG) companies and expect the index to relatively outperform its peers in the second half of fiscal 2021-22 (FY22). In the past one year, prices of key commodities such as groundnut oil, mustard oil, Vanaspati, soya oil, sunflower oil and palm oil have shot up in the range of 20 per cent to 60 per cent, data show. The FMCG sector macros in this backdrop, according to analysts, have further deteriorated because of weakness in consumer demand and likely margin pressure due to elevated crude oil, palm oil and global food prices.
'As we grew up in service and became seniors ourselves, our commanders advised us to graduate to whiskey since rum did not suit the stature and 'shaan' of a senior officer.' Nitin Sathe recalls his encounters with whiskey on World Whiskey Day.
From free salons to discounted room rates, hotels are offering it all.
>Gadgets that make kitchen work easier and faster have gained momentum in the lockdown.
Dhoni took up organic farming last July during the lockdown and his efforts have borne fruit.
Ankit Kawatra's Feeding India has already fed more than 1 million people.
The company has entered into a strategic partnership with Scootsy, a hyper-local delivery platform
Away from the distraction of its new high-profile politics, Wayanad's worries seemed very down to earth, discovers Shyam G Menon.
Hindustan Unilever Ltd, India's largest personal care product maker, on Tuesday reported a better-than-expected increase in its September quarter net profit and revenues, signalling a revival of demand following the world's biggest lockdown.
The transaction is an all equity merger with 4.39 shares of HUL being allotted for every share in GlaxoSmithKline Consumer Healthcare India
Dire warnings that the future wars will be fought over water may come true sooner than anticipated, albeit with a flavour. At least four behemoths, three of them multinationals, will soon mount an assault on the flavoured water market.
The company's Indian operation, a joint venture with Tata Global Beverages, has got a new CEO.
Dive into some fabulous treats by Chef Ranveer Brar this Christmas.
In the early part of 1800, a 30-acre plot next to Fort Gloster on the banks of river Hooghly in Howrah district of Bengal was the nerve centre of industrial activity; it housed India's first steam-powered cotton mill, Bowreah Mills, which was set up by a British merchant and went on to become a hub of factories - a rum distillery, foundry, cotton yarn factory, an oil mill and a paper mill, et al. Spearheaded by Dwarkanath Tagore, the industrialist grandfather of Rabindranath Tagore, the commercial complex was possibly the first of its kind in the country. Close to 200 years later, after much ebb and flow of history, the hub is set for a resurgence of sorts.
With scrutiny that comes with a public listing, Deepinder Goyal's leadership could face its sternest test yet.
The list of corporations publishing biographies has lengthened steadily as companies have realised the effectiveness of story telling as a brand building tool. Kanika Datta investigates the rising trend.
'The best way to make an impact in this market is by focusing on three things: Unmet customer need, unarticulated customer need, and emerging customer need,' Metro's Arvind Mediratta tells Sangeeta Tanwar and Alokananda Chakraborty.
Why Danone, Philips, and to an extent Nestl and P&G remain under stress in India is a subject perhaps worthy of a business school case study, says Shailesh Dobhal.
Milk products and nutrition, the largest category that contributes nearly 47.6% to the company's top line, grew 1.6%
Recently, the company has released videos on Maggi.
Australian Foods, owner of the Cookie Man brand, is on an expansion drive to double its number of stores across India in the next one year. The company has been following a unique model of retailing its cookies through own franchise stores. Cookie Man products are not sold in any other outlet and their franchise stores are located only in malls. The company will continue with this model for its next batch of outlets as well.
With India already having a huge population of meat eaters and about 70 per cent of the people being non-vegetarian, Indian entrepreneurs are hotting up the online meat market.
During his time as executive chairman, the company's net revenues grew 17-fold to Rs 42,777 crore and profit after tax nearly 40 times to Rs 10,289 crore. Total shareholder returns grew at a compounded annual rate of around 20%. Besides numbers, his biggest achievement was to transform ITC from a cigarette company to a diversified enterprise.
Food safety has hit headlines in India after government food safety inspectors found excess lead in packets of Nestle's Maggi instant noodles.
Foreign direct investment (FDI) in India declined by about 15 per cent to $12.6 billion (Rs 74,971 crore) during April-October this year, Parliament was informed on Wednesday.
Pranav Adani has come a long way since 1999, when he first got actively involved with the Adani Group's businesses, run by his uncle, Gautam Adani.
'I love beaches and hence I love my swimsuits.'
Weak demand from the poultry sector has resulted in a sharp decline in feed prices too, with both soybean and maize prices falling by nearly 25 per cent in the past two months. The poultry market consumes around half of soybean and maize production in India.
'WHO issued an emergency use listing for Covovax, expanding the basket of WHO-validated vaccines against COVID-19. The vaccine is produced by the Serum Institute of India under licence from Novavax,' the world health body said in a tweet on Friday.
Bengaluru added four of the eight new innovation centres to emerge as the fifth global hub for innovation.
Cut off from the world and having to contend with an orthodox and repressive Taliban government, Afghans are facing the brunt of Pakistan's decades old policy of nurturing militant groups, note Harsh V Pant and Kriti M Shah four months after the Taliban took Kabul.
In a departure from the past, when IHCL adopted the organic route for entering markets like London and New York, this time around the expansion will be acquisition-led.
Amul, the dairy cooperative managed by the Gujarat Cooperative Milk Marketing Federation Ltd, will sponsor the Indian contingent for the London Olympics. The Indian Olympic Association entered into an agreement with the country's largest food brand in this regard in Delhi on Monday. It was signed by IOA secretary-general Randhir Singh and R S Sodhi, Managing Director, GCMMF.
The India captain refused to renew the contract which ended in April this year, saying at the time that he would not ask people to consume something that he himself does not.
Most of the changes have come about in the last four years and ITC is now reaping the dividends - standalone revenues from the non-cigarettes FMCG business have grown 40 per cent from FY17 to Rs 14,728.21 crore in FY21 and pre-tax profits 30 times to Rs 823.69 crore. The business accounted for 30.58 per cent of gross revenues and 4.85 per cent of pre-tax profits in FY21. "In the last four years, our margins in FMCG have gone up by 640 basis points (bps) and EBITDA margins have been moving up consistently. "We created levers that enabled a sustained growth trajectory," said ITC chairman and managing director Sanjiv Puri. Puri took charge as the chief executive officer in 2017; in 2018, he was redesignated managing director and effective May 2019, he became chairman.
Although large companies like Nestle, Dabur or HUL have been impacted by this slowdown in demand, it was the small, local players that have been hit harder.
Ola has reported its first operating profit of Rs 89.82 crore for 2020-21, even as the ride-hailing company's revenue declined 65 per cent to Rs 689.61 crore amid COVID-19 induced lockdowns. As per regulatory documents filed by ANI Technologies - the parent company of Ola - it had logged standalone operating profit (profit before finance cost, depreciation, amortisation and tax (EBITDA)) of Rs 89.82 crore in FY21 on a standalone basis, while it had registered a loss of Rs 610.18 crore in the preceding fiscal year.
The 55-year-old executive takes over on August 1.
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