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Annual Report 2019-20 Annual Report 2019-20 Report Annual DESIGN Pidilite Design Studio | Design Studio Pidilite BUILDING PRINT BONDS Parksons Graphics Parksons ANNUAL REPORT 2019-20 ANNUAL REPORT 2019-20 Pidilite Industries Limited Registered Oce Regent Chambers, 7th Floor Jamnalal Bajaj Marg 208 Nariman Point Mumbai 400 021 IN NEW www.pidilite.com WAYS Please check spine before printing RevisedOption 2 “In the past few months of lock-down, we have focused our energy on finding new ways of working based on our core philosophy of building bonds. Our partners, employees, and loyal community of users including carpenters, masons, plumbers are now connected virtually and are working enthusiastically to adopt to new ways of working. We dedicate this Report to our PIDILITE PARIVAAR that has bonded together so strongly in these“ trying times. M B Parekh Chairman STAYING CONNECTED ALWAYS During times of physical distancing, communication NEW is the key. Our partners are a part of our `Parivaar’ and enquiring after their health and health of their families is a natural extension of our culture. Our teams have been communicating on COVID precautions and safety WAYS measures that need to be followed at shops and places of work. Adapting to new ways of working HELPING HANDS FOR REASSURANCE has been a challenging yet inspiring Health and Safety are of journey, thanks to the collaborative utmost importance in current eorts of our partners. They times. We created guidelines for our masons, carpenters continue to rise above their roles and dealers to help them operate safely. Providing to meet the new normal and learn them with personal protection kits and health from every hit and miss. As both insurance has helped build their confidence to restart employees and stakeholders realise work safely. the power of virtual collaboration, everyone seems to be engaging better, with every passing day. Change is continuous. It teaches us to be agile and flexible. OF WORKING ‘‘I work as an assistant DIGITALLY UPSKILLING plumber in Vizag. My daily livelihood was lost OUR PARTNERS because of the lockdown and I was worried about As everyone adapts to new supporting my family amid way of working, it’s also the this crisis. I did not expect best time to upgrade our knowledge. We used digital that any Company will come platforms to empower our to the plumber community’s users and partners with rescue in this pandemic. training modules on basic While no other company has and advanced waterproofing interacted personally with us techniques, online product during the lockdown, Pidilite demos and COVID-19 safety ocials have been in touch guidelines. This helped our with us since the first week partners feel better equipped of lockdown to remain to restart work. apprised of our well-being. Pidilite ocials did not just interact with us over call, they also met us and distributed essential grocery items to help us make ends meet. I am thankful to Pidilite for thinking about us during this crisis.” Mr. Ravi Kumar Plumber Building Bonds… from a Distance! The Delhi A team successfully put up a unique Fevicol display drive that garnered a lot of appreciation from all. Huge drums of Fevicol were used to create a ‘social distancing’ wall at the shop entrance, encouraging customers to maintain required distance. The drive titled ‘Fevicol ka Border Mazboot Hai’ ensured strong brand equity and a big shout out of the availability of stock everywhere. CREATIVITY Learning from SCM DOES Superheroes Creativity is the best A motivated Supply Chain antidote to crisis. To keep Management (SCM) team of our consumers engaged superheroes faced their while staying at home, challenges by tracking daily we launched ‘Fevicreate updates of drivers/ Crafting Memories’ – a transporters and monitored campaign in association their safety by distributing with an online digital thermoguns and sanitisers. community Momspresso. This craft- centred campaign Our safety and hygiene generated a reach of 12 million protocols at warehouses gave consumers during the workers the confidence to lockdown. We have engaged resume work. In the absence with crafts teachers across of public transportation, the the country by providing warehouse sta displayed content for conducting high level of commitment by online ‘summer camps.’ using their own bicycles/ bikes to reach work. NOT TRULY INSPIRING : COVID STOP CHAMPIONS & WARRIORS So many of our Pidilite employees, along with their loved ones, walked the extra mile to help those in need during the lockdown. From helping out contractor’s families to distributing food packets, they lead by example. Our Champions & Warriors received widespread appreciation for their proactive eorts. EMBRACING Upskill and Upgrade The Learning Management System on HRKwik enabled We moved towards a model of working that and delivered value-creating learning programmes for has truly adapted to the social, economic and employees during lockdown. technological influences of the current need of The focus was on re-skilling at the division level as well LEARNING AND our times. These new ways of working have made as upskilling through new DISCOVERING modules to develop additional skills. These modules reached us adapt positively in how we innovate and Various employee an average adoption engagement programmes communicate. We are embracing digital percentage of over 90% and were conducted online, to eectiveness score of over help employees stay active transformation, not just to survive but to thrive 70%. This has depicted that and creative while at home. we are willing to learn during and collaborate eectively, which has led to greater Creative sessions on hobbies, these VUCA (volatile, photography, food, movies, uncertain, complex, ownership and thrust to better ourselves every day. kitchen gardening etc. ambiguous) times. helped employees discover new passions. Holistic well-being sessions on nutrition and fitness as well as mental health were helpful for all. These online workshops received excellent response and participation from far and wide. I joined Pidilite in August 2019 as a TSI. In my 6-year career across three organisations, Pidilite has been the best in terms of culture and employee centricity. Here everyone is treated with respect and is given a stable and healthy environment to work. Seniors have constantly motivated me to learn and achieve targets. Even in times of crisis like the COVID-19 pandemic, Pidilite has gone ahead and released all our incentives and salaries on time. Precautionary instructions and constant health updates taken by seniors make me feel like I am part of one caring family. Vijaydurga Prasad TSI A NEW CULTURE TABLE OF 11 CONTENTS BOARD OF DIRECTORS PIDILITE ANNUAL REPORT 2019-20 PIDILITE ANNUAL M B Parekh A N Parekh Uday Khanna Executive Chairman Whole-Time Director Director N K Parekh Debabrata Gupta Meera Shankar Vice Chairman Whole-Time Director Director (w.e.f 01.03.2020) 11 Company Information Bharat Puri Vinod Dasari 12 Marketing Initiatives Managing Director B S Mehta Director Director 22 Key Performance Indicators A B Parekh Piyush Pandey 26 Management Discussion and Analysis Whole-Time Director Sanjeev Aga Director Director 34 10 years' Financial Performance 36 Directors' Report 44 Social & Community Services Initiatives CORPORATE OFFICE REGISTRAR & AUDITORS Ramkrishna Mandir Road TRANSFER AGENT Deloitte Haskins & Sells LLP O Mathuradas Vasanji Road TSR Darashaw Consultants 58 Annexure to Directors' Report Andheri (E), Mumbai 400 059 Private Limited SOLICITORS & 6-10, Haji Moosa Patrawala ADVOCATES 86 Business Responsibility Report REGISTERED OFFICE Ind. Estate 20, Dr. E Moses Road Wadia Ghandy & Co Regent Chambers Mahalaxmi, Mumbai 400 011 92 Auditor's Report 7th Floor, Jamnalal Bajaj Marg BANKERS 208, Nariman Point COMPANY SECRETARY Indian Overseas Bank 100 Standalone Financial Statements Mumbai 400 021 Puneet Bansal Corporation Bank ICICI Bank 160 Corporate Governance Report CHIEF FINANCIAL OFFICER HDFC Bank & Compliance Certificates Pradip Menon Citibank N A (w.e.f 18.11.2019) Standard Chartered Bank PLC. 170 Information for Shareholders INTERNAL AUDITORS 173 Consolidated Financial Statements Mahajan & Aibara PIDILITE ANNUAL REPORT 2019-20 PIDILITE ANNUAL COMPANY 10 INFORMATION UNDER-marketing initiatives 13 Multimedia campaigns STANDING REPORT 2019-20 PIDILITE ANNUAL Many new multimedia brand campaigns were rolled out for Fevicol, Fevikwik, Dr. Fixit, Ro that won hearts of our customers, won accolades and had a positive impact on business. Digital marketing initiatives, in the form of social media, digital videos and performance marketing campaigns, aimed to increase brand engagement with millennials, were further scaled up with campaigns for Fevicol, Dr. Fixit, Fevistik and Ro. The end user A multimedia campaign FEVICOL commemorating 60 years engagement programmes, Brand Campaign of Fevicol was launched. of the Year The creative showcased the such as Fevicol Champions journey of a sofa created with Fevicol that withstood the test Club, Fevicryl ‘Humsafar’ and of time while transitioning brand activations for ‘Fevicreate’ through multiple households and generations. It was a continued to reach a wider much-lauded creative reaching over 10.5 crore views on audience with participation in TV and over 11 crore views key industry events. on digital. PIDILITE ANNUAL REPORT 2019-20 PIDILITE ANNUAL 12 WHAT STICKS marketing initiatives 15 Multimedia campaigns PIDILITE ANNUAL REPORT 2019-20 PIDILITE ANNUAL The Dr. Fixit ‘Water creatures’ Ro launched a multi-media Dr. fixit campaign featuring ROFF campaign in Karnataka with Water creatures Mr. Amitabh Bachchan, Kyunki Roff mein hain the route of ‘Fix Tiles with communicated the magar ki jakad Ro , not with cement’, importance of right supported by the tagline, waterproofing for homes. ‘Kyunki Ro mein hain magar ki jakad.’ Fevikwik launched a new Pidilite Specialty Chemicals FEVIKWIK multimedia campaign DR. FIXIT Bangladesh Private Limited Phenko Nahi Jodo ‘Phenko Nahi Jodo’ that leak-free homes (PSCBL) launched a holistic drove home the culture of campaign featuring repairing instead of Bangladesh cricketer, discarding, showcasing Mr. Mustafa Mortaza to ‘smart people’ who repair. improve adoption of The campaign was launched Dr.
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