The journey of Crompton Greaves, the top 10 made in India brands, and other top stories of the week
This week, SMBStory focused on stories of resilience and spirit. Our top picks include the journey of Crompton Greaves, the top 10 made in India stories of 2020, and the narrative of Bad Monkey Beer, which clocked Rs 130 crore turnover in two years.
It is safe to say that the year 2020 has been like no other. However, despite the odds, SMBStory managed to spotlight numerous stories of resilience and persistence.
As the year comes to a close, read this week’s top picks: the story of National Stock Exchange-listed Crompton Greaves Consumer Electricals Ltd and how it clocked Rs 4,520 Cr turnover in 2020 along with the top 10 made in India stories of the year 2020, and the journey of Delhi-based beer brand, Bad Monkey Beer.
Crompton Greaves
A brand with an over 75-year-old legacy, Crompton Greaves Consumer Electricals Ltd. holds a long history of acquisitions, mergers, and demergers, and has today become a prominent name in the electricals category. One of the leading Indian consumer durables brand, it has 21 percent market share in the fan category, according to Statista.
The company’s journey dates back to the pre-independence era when Colonel REB Crompton started REB Crompton & Co in 1878 in England to manufacture and contract electrical equipment. In 1927, it merged with another company called F&A Parkinson Limited and Crompton Parkinson Limited (CPL) was established with its wholly-owned Indian subsidiary located in Mumbai, along with a sales company called Greaves Cotton & Crompton Parkinson Ltd.
In 1947, the company was taken over by an eminent Indian industrialist - Lala Karamchand Thapar, who formed the Thapar Group, unifying both Crompton Parkinson Limited and its sales organisation, Greaves Cotton & Crompton Parkinson Ltd., to create Crompton Greaves Ltd, in 1966. The company was working steadily to meet B2B and consumer demands simultaneously.
The B2B segment played a pivotal role in the company’s growth, but to strengthen its consumer vertical, which was contributing 25-30 percent of its revenue, the management decided to demerge the two verticals. In 2015, the consumer business of the company was demerged to form a separate entity, which we now know as Crompton Greaves Consumer Electricals Ltd (CGCEL). The erstwhile Crompton Greaves Ltd changed its name to CG Power and Industrial Solutions Limited.
In an exclusive interaction with SMBStory, Mathew Job, CEO of CGCEL, speaks about the demerger and the marketing strategies the company incorporated to fuel growth in the next five years.
Today, the brand has become one of the fastest growing Electrical Consumer Durables (ECD) companies, is EBITDA positive, and high in ROCE (Return on Capital Employed). The company became an independent listed company on the NSE in 2015 and raked in Rs 4,520 crore turnover in 2020.
Other top stories of the week:
Top 10 homegrown business stories of 2020
In 2018, we launched SMBStory to tell entrepreneurial stories of grit, perseverance, and determination to succeed against all odds. 2020 has been a year full of such stories.
When the nationwide lockdown was imposed in March 2020, business activity came to a halt and exacerbated the liquidity crunch in the small business sector. Those running small businesses and consumer brands faced extended periods of near-zero revenue, and many shut shop. Entrepreneurs responded in myriad ways to challenges posed by the COVID-19 pandemic, and led the way towards building an Aatmanirbhar Bharat.
Despite the struggle, a spirit of building self-resilience and courage in the face of adversity became important in the road towards recovery. As the nation geared towards building an Aatmanirbhar Bharat, SMBStory told the stories of hundreds of homegrown businesses and brands, and put them in the spotlight.
Here are 10 of the most inspirational and impactful stories of Indian SMBs and brands we covered in 2020.
- Borosil
- Metro Shoes
- Nilkamal
- Cycle Pure Agarbathies
- Group
Bad Monkey Beer
Rohan Khare has always been passionate about beverages, particularly beer. So it was not surprising when he pursued a course at the Wine and Spirit Education Trust (WSET) right after completing his graduation from Delhi University.
He even worked with liquor brand Rock and Storm for three years as the Product Head. Right through his journey, Rohan believed that the market was missing a strong beer brand with consistency and taste. According to a report by Businesswire, estimates revealed that Indians prefer strong (lager) beer (with alcohol content more than five percent) followed by wheat beer, Stout & Porters, Ale, Sahiti, and others.
With around 140 brands already in the beer segment, including United Breweries, Budweiser, Carlsberg, Bira 91, etc, Rohan decided to dive into this market when he launched Delhi-based Bad Monkey Beer in July 2018.
started its journey by selling in Delhi and Uttar Pradesh. Today, it also sells in Chhattisgarh and Uttarakhand, and even exports to Australia. The company has sold over nine lakh cases of beer and clocked Rs 130 crore turnover in just two years.
Edited by Teja Lele