Management Discussion & Analysis

Economic Environment

The Financial Year (FY) 2018 was a period of transition for the Indian economy with the implementation of several structural reforms. The foremost among these were the Goods and Services Tax (GST) and the Insolvency and Bankruptcy Code (IBC). The temporary disruption caused by GST implementation slowed down the economy. As per the Central Statistics Office (CSO), the GDP growth in FY 2018 is estimated at 6.6% as against 7.1% in the previous year. Rising crude prices, low levels of private investment, less job opportunities, rural distress, and fiscal slippages related to GST collections were the significant challenges.

On the positive side, in FY 2018, India made a 30-point jump to join the top 100 countries in the World Bank’s “Ease of Doing Business” Index, and the country’s sovereign credit rating was upgraded by Moody’s Investors Service for the first time since 2004. These have been primarily attributed to the steady pace of reforms and a consequent expectation of sustainable growth.

In FY 2019, the Government’s focus on reforms, ensuring progress on stressed assets under the IBC, and improving farm income are expected to speed up growth. Infrastructure remains a top priority of the Government, and this should have a cascading effect on other sectors. The International Monetary Fund (IMF) has projected India’s economic growth to clock 7.4% and 7.8% in 2018 and 2019, respectively.

Business Strengths

Infrastructural Excellence

1,170+ Restaurants 11 Supply Chain Centres

Visionary Leadership

Experienced Senior Team at Strategic Level

Pan-India Presence

Located across 260+ Cities

Committed Team

Driven by 27,000+ Talented Employees

Technology Driven

Leveraging disruptive technology across operations

Certified Partners

Network of 120+ HACCP certified food business partners

Management Discussion & Analysis

Infrastructural Excellence

1,170+ Restaurants11Supply Chain Centres

Visionary Leadership

Experienced Senior Team at Strategic level

Pan-India Presence

Located across 260+ Cities

Committed Team

Driven by 27,000+ Talented Employees

Technology Driven

Leveraging disruptive technology across operations

Certified Partners

Network of 120+ HACCP certified food business partners

Management Discussion & Analysis