Agribusiness and Food Consulting - UniversalConsulting.com

Agribusiness & Food Consulting

Agenda Introduction Agribusiness & Food Credentials Profiles and Contacts 1 2 3

UC has deep execution expertise in strategy and operations consulting Since 21 Years Four Offices • Founded 1994 • 4 Offices (Mumbai, New Delhi, Chennai, Bangalore) • 65+ People • 330+ Clients • 860+ Cases • 76% Repeat & Referral work Key Verticals Horizontals • Agribusiness & Food • Automotive • Biomedical, Biopharma & Healthcare • Building Materials & Products • Consumer Products & Retail • Financial Services • Industrial Products & Capital Goods • Logistics • Private Equity & Principal Investors • Service Firms • Strategy Formulations • Operations Improvement • Organisation Design

Management & Operations Team Bhairavi Shah Patel Manager – Knowledge Administration ArchanaPalavManager – Marketing Administration Dr Anjum Khandelwal Team Lead – Business Development Parizad Sabawalla Head – Marketing Administration Asgari (Aji) Pagarkar Head – Office Administration & Alumni Relations Samir Sathe Senior Director & New Delhi Office Head Jay P Desai Founder & Managing Director S. Venkatesh Director & Chennai Office Head KaustubhNagarkarAssociate Director VineetAgrawalSenior Manager Shankar Rajesh Senior Director & Mumbai Office Head Sandeep DashSenior Manager Bhavini Sarkar Manager – Process Administration Sonali Aggarwal Head – Finance & Accounts KedarBorwankarSenior Manager

UC has long-term relationships and significant repeat work with Clients 19 Cases13 Years 7 Cases4 Years 15 Cases7 Years 36 Cases12 Years 25 Cases4 Years 14 Cases9 Years CK Birla Group Large MNC Pharmaceutical Company 9 Cases7 Years 6 Cases6 Years 8 Cases3 Years 12 Cases5 Years 10 Cases8 Years 6 Cases6 Years 2 Cases 5 Cases3 Years 2 Cases 2 Cases 3 Cases 1 Year 3 Cases • Carlyle

UC has deep execution expertise across many horizontals Operations Organisation Strategy • Corporate Strategy • Business Unit Strategy • Diversification Strategy • Industry Structure & Landscape • Sales Force Management • Pricing Strategy • Sales and Channel Management • Strategic Diligence • Partner Screen & Selection Strategy • Program Management • Digital Strategy • Supply Chain & Outbound Logistics Strategy • Strategic Cost Management • Post Alliance/ Acquisition Integration • Process Design • Program Management • Capability Development • Performance Management • Program Management

UC has broad execution expertise across many verticals Agribusiness & Food Automotive Biomedical & Healthcare Building Materials & Products Industrial Products, Capital Goods & Infrastructure Financial Services Consumer Packaged Goods & Retail

We have had the opportunity to work across all aspects of farmer needs Pre & During Production Agri-Equipments (Tractors/ Tillers/ Harvesters, Clusters, Displays, Tractor Tyres) Pesticides/Herbicide/ Fungicides Bio-mass Seeds Farmer PGR/ PGP Agri-Finance Allied Products & Services Irrigation (Agri-Pumps/ Micro-Irrigation) Agri-Services/ Soil testing services Agri-Logistics (Dry-bulk warehousing/ Cold-storage) Poultry Dairy Processing (e.g. Sugar, Soybean, Rice bran, Pulses) Post Production Food Processing

Our Agribusiness and food experience spans across strategy formulation, supply chain/ process design, organization effectiveness and execution Dairy Dairy Dairy

Some of Case Examples in Agribusiness & Food

Total Regions Covered 20 States 75% Districts Coverage We have conducted primary research across 20 states with average district coverage of 75% States Visited by UC engagement teams

Agenda Introduction Agribusiness & Food Credentials Agribusiness Case studies Profiles and Contacts 1 2 3

#1: Defining and Executing business strategies and processes to unlock and sweat fixed and working capital for an agro-chemical major • Our client has seen significant revenue growth over the last 5 years and has slated objectives to substantially increase revenue growth further. However the forecast to fulfill process has not been robust to support the growth • The company has three business divisions namely Agrochemical domestic, Agrochemical international and a specialty chemical division • The company requested UCIPL to understand the current supply chain processes, come up with gaps in current processes (through detailed analytics and discussions) and finally design and implement the “to be” best practice processes • The client also wanted to design and implement the Supply Chain Process Dashboards at three tier level – Regional, Corporate and Management Background and Challenge • Conducted interviews with Top Management to understand the overall SCM Organization • Conducted one-on-one interviews with all the people in the SCM organization to understand issues w.r.t to forecasting, demand planning, supply planning, production planning, logistics, Procurement, Vendor Management, Toller Management and Working Capital (Receivables and Payables) • Conduct detailed analytics in above areas to come up with list of issues in each area • Benchmarked current processes with industry best practices and identified gaps. • Summarized the issues & gaps and arrived at a framework of recommendations to resolve the same • Conducted product and SKU rationalization • Conducted analytics on warehouse rationalization • Obtained Management, Process Champions and Process Owners buy in • Designed “to be” best practice processes which incorporated industry best practices • Rolled out and initiated implementation of best practice processes • Prepared, populated and implemented Management Dashboards for Process KPI reviews (along with CAPA – Corrective and Preventive Actions, Responsibilities and Timelines) Approach • Rs 35 crore in cost savings realized through optimizing demand planning, supply chain, production planning, dispatch and working capital management Results

#2:We defined and implemented a growth strategy for an agro-chemical company to reach targeted revenue and profitability growth targets • The client, a leading manufacturer of agro formulations in India approached UC to define and implement a growth strategy to reach the revenue and profitability targets in the domestic agro-formulation business Background and Challenge • Determined the market for pesticides/ insecticides/ herbicides split by crops across 16 states and key districts within each state • Mapped the entire cultivation pattern of farmers in a year across each states and key districts • Mapped for each crop trends w.r.t molecule usage to control pest attack during the lifecycle of the crop and our clients product presence • Gained farmer insights on his needs, buying behavior and product associations from awareness-consideration-advocacy phase and defined initiatives on farmer pull through programs • Based on the farmer met/unmet needs and market trends on product efficacy, determined potential new combination products to be launched and also prioritized existing product basket • Gauged the competitor presence in each district/ market, segmented them into strategic groups, gained insights on their route to market (channel structure, margins), territory management, farmer demos/ promotions • Conducted a detailed analysis on the existing channel of the client and recommended channel framework and policies to improve channel productivity and return on marketing effort • To improve the channel management we tiered channel partners and defined initiatives w.r.t rationalizing the channel and pull through programs for dealers • We then defined an overall strategy map to serve as a dashboard to monitor implementation of initiatives to achieve targeted revenue and profitability growth • We implemented initiatives across 16 states on distributor/ dealers, farmer pull-through programs and product initiatives Approach • The implementation of these initiatives led to a 50% improvement in the EBIDTA of the domestic formulation business in the first year itself Results

#3:Defining strategy to increase market share and profitability for a USD 490 Mn Indian farm equipment and tractor producer • The client, was one of the top three tractor manufacturers in India and had a presence in over 70 countries • After gaining a significant market share in the North, as a part of its overall growth strategy, the client wanted to gain and consolidate its market position in the South • Specifically, the client wanted to gain upto 15% share and become a challenger from being a marginal player in the South Background and Challenge • We conducted detailed primary research by talking to a range of industry participants including farmers, dealers, financing companies and competitors to craft a detailed strategy. To define the strategy we assessed/determined the following: • Cropping and land holding pattern of farmers and its impact on tractor buying • Crops, soil types and preference for specific tractors • For all key crops current and future usage of different types of agri implements • Market size by crop, soil and HP range • For each segment of farmers the key purchasing criteria to buy a new/second hand tractor • Positioning of different players across the key purchase criteria • Resale value dynamics and reasons for high/low resale value • Different dealership models followed by competition for second hand tractor sales and the model to be followed by the client • We created a framework to link different elements which impact market share and profitability and also identified high impact areas • Identified repositioning strategies for leveraging the existing favorable market perceptions • Identified product modifications (technical) required to provide a more ‘fit for purpose’ product for altering some of the existing unfavorable market perceptions of the client • Recommended specific initiatives and action points for improving the financial ecosystem and channel effectiveness (dealer network) • Defined a series of district specific and common initiatives with a clear implementation plan Approach • The client received the overall strategy and implementation plan for gaining ~8-15% market share in the regions of study Results

#4:Defining entry strategy into sugar business for a multi-national agri-commodity player • The client, a fortune 500 agri-commodity player with operations across the globe, wanted to enter the Indian sugar and ethanol space • Top Management was seeking answers to key strategic questions such as which business model the company should follow and which part of India the operations should be set up in Background and Challenge • While defining the entry strategy we extensively travelled across states/ key districts to determine sugar mill dynamics, regulatory environment, farmer cropping patterns, co-relations between recovery and impact of number of working days on profitability • Analysed the economics for a standalone sugar mill, cogen & distillery and based on findings proposed that the cyclicality within the sugar industry is expected to reduce moving forward driven by the alternative revenue streams of distillery and power • We evaluated different business models options based on impact of cyclity (up-cycle, normal, down-cycle) on the ROCE and degree of flexibility • Conducted sensitivity analysis to understand the impact of a 1% change in key variables on ROCEand recommended that an integrated “Sugar+Alcohol+Power” business model offered optimum ROCE and flexibility • We then assessed the favourable locations from an entry standpoint based on economical factors (ROCE, PAT, payback, etc.) and degree of accessibility (cane availability, co-operative movement, political influence, and entry options • Shortlisted key clusters based on crop economics, locations of the top mills, overall number of crushing days, recovery, etc. • Defined an acquisitive strategy in select clusters for the client and conducted a financial and technical due diligence of targets to arrive at a valuation for the potential targets Approach • The client received on assessment of optimum business model options, shortlist of selected locations, mode of entry and scale of investments required Results

#5:Assessment of the Bio-fuel market in India for a cutting edge technology player • The client, a leading life sciences and material sciences company had developed technology to improve the overall yield and cost of production of second generation bio-fuels and bio-gas • The Top management UC to conduct a market assessment of Bio-fuels and Bio-gas market space in India to gauge potential opportunities Background and Challenge • Assessed impact of market drivers such as imports of crude oil, rising petrol demand and government impetus on promoting EBP leading to the future demand of ethanol • Undertook an assessment of production/supply, sugarcane dynamics, area under cultivation, acreage and yield and region-wise / state-wise production • Evaluated consumption / demand split across end users (industrial, potable and fuel ethanol) • Assessed regulatory environment and drivers for change – market trends and government mandates • Undertook an assessment of pricing trends – historical and future • Identified that given the rising demand and limited supply of alcohol molasses for fuel blending will boost the use of alternate feedstock for alcohol production • Conducted a detailed assessment on the cost-economics and the challenges involved in producing ethanol from cellulosic feedstock like rice straw/ husk/ bagasse, wheat straw and sugar cane tops • With respect to bagasse and other bio-mass, assessed annual generation, available surplus and consumption patterns • Based on the pilot studies in progress we determined yield of ethanol that can be obtained from each of these feedstock and the supply chain complexities of sourcing/ aggregating the feedstock • Assessed economics of molasses based and cellulosic based ethanol production Approach • The client received an in-depth assessment of the attractiveness of the bio-fuel environment in India including an assessment of existence of market players and potential collaborators, global environment and government policy initiatives, market overview and major consumer segments, requirement and availability of eligible feedstock, level of R&D progress and technology commercialization Results

#6:Determining the tipping point for making drip-irrigation a self sustaining concept in a village and defining a strategy to sustain • The client, was the Indian arm of an international non-profit organization providing affordable irrigation solutions for small and marginal farmers by developing and marketing low cost drip irrigation systems and treadle pumps • In the past, the client had been involved in using various static and dynamic promotional tools to create awareness of their products and relied heavily on a marketing team with local knowledge to develop the market • However in order to optimize their marketing efforts and costs, the client wanted to understand the tipping point - level of market penetration after which the market can sustain itself, allowing promotional efforts to be withdrawn and diverted from a particular area – and ways to achieve and sustain the tipping point Background and Challenge • In order to understand and define the tipping point penetration level for the villagesconducted in-depth interviews with c.350 respondents to understand their awareness levels and analyzed promotional efforts and penetration levels in 58 villages, across 21 districts in 6 states • Defined the time taken to reach tipping point in villages and segmented villages on attractiveness by analyzing in detail c.20 parameters that impact adoption of the product in the villages namely – • Analysis of Natural/ Structural factors (land under irrigation, season-wise cultivation, cropping mix, proximity to market, road connectivity and availability of power) • Analysis of external factors (Dealers participation in promotion, credit received from dealers, presence of a local entity (NGO/mechanic, etc.) promoting product in village, presence of corporate buy back arrangements, etc.) and • Analysis of the farmer profile • The behaviour of farmers was studied across the adoption cycle to understand the initiatives that will drive the adoption of the product. The impact of marketing and promotional efforts on achievement of tipping point was assessed • We also suggested the ways to reach the tipping point faster: • Suggested the new promotional tools that can be used to increase awareness • Identified the key opinion leaders that can be used to inform and influence farmers • Identified new touch-points that can be used to target farmers • In order to overcome financing barriers in the adoption of new irrigation technology proposed various initiatives that the client pioneer to provide credit to the farmers. through inking farmers to cooperatives, microfinance institutions and dealers • Undertook an assessment of the institutional providers which included MFIs and Cooperative banks that the farmer could reach out to. Also evaluated various credit options that the client can examine to provide finance directly to the farmer Approach • The client was able to understand the effectiveness of current marketing tools as well as new marketing initiatives, with a sequential plan to applying these tools to accelerate penetration in a village • Market penetration milestones were identified after which marketing efforts could be gradually reduced to optimize the clients resources. Critical constraints to adopting the products were identified and mechanisms for overcoming these constraints were outlined for the client Results

#7:Defining growth strategy for a seeds player leveraging its capabilities in the bio-fuel arena • The client, one of India's largest agro-chemical companies which had recently acquired a seed company. • Top Management requested UC to define a growth strategy by leveraging the company’s presence in Sweet Sorghum seeds and examine whether sweet sorghum could be leveraged in the bio-fuels arena Background and Challenge • We based our growth strategy on two pillars – farmer economics of growing sweet sorghum and distillery economics of procuring sweet sorghum from the farmer and manufacturing ethanol • We travelled to states where the crop could be grown and initiated discussions with sugar-mills • We determined the current cropping pattern of farmers in the command area and determined the farmer economics of growing sweet-sorghum crop • Determined the minimum net realization for the farmer to consider replacement of existing crop with sweet-sorghum • We also conducted a detailed analysis on distillery economics considering stand-alone/ integrated distilleries. We gained insights on the dynamics of the crop w.r.t brix content, juice extractability and growth dynamics based on varying temperatures • We segmented the distilleries and determined the economics of using sweet-sorghum at different input price levels • Based on the above we defined a growth strategy encompassing elements w.r.t improving brix content in seed, potential target customers, value proposition to the target customers and geographies to target Approach • The client received a detailed assessment of the feasibility of seed cultivation, feasibility and economical viability to farmers and distilleries in India, parity of current seed variety with competition, customer segment (sugar mills/ distilleries) to target, geography to conduct pilot trials in India and usage of current farm land to grow the seeds Results

#8:We defined growth strategy in seeds for a leading agri-player • The client, a leading agri-player with a diversified product portfolio spanning agricultural and biotechnology inputs, crop protection products , aquaculture, hybrid seeds and healthcare, approached UC to help design an aggressive growth strategy for the seeds SBU by leveraging its strong R&D capabilities • Furthermore the client wanted to a define a growth strategy by considering debt free models and minimum upfront investment Background and Challenge • In the growth strategy definition phase we extensively travelled across the country and conducted discussions with key personnel of the distribution channel – farmers, dealers and seed players • Determined past and future drivers of the Indian hybrid seed market • Identified growth opportunities w.r.t seeds varieties for each crop in specific states. New product opportunities were identified based on current R&D capabilities as well as potential of marketing from other companies • Developed a framework for shortlisting a potential seeds portfolio based on various parameters such as area under cultivation, hybridization and expected growth of hybridization, expected margins, potential gain of market share of particular variety in focused crop, presence of the client in the variety of selected crop, etc. • Gauged the competitor presence, segmented them into strategic groups, gained insights on their route to market and key success factors that drive revenue & profitability • Recommended the client follow a‘no regret’ parallel strategy of marketing seeds of other companies to de-risk the failure of commercialization and to add to the top line with low capital expenditure • Conducted an assessment of potential acquisition targets in the hybrid seed segment and initiated dialogue to gauge their inclination to provide seeds for marketing • Finally, made recommendations on how the client can leverage its agro distribution network to penetrate the seeds market Approach • The recommended strategic agenda helped the client achieve 17% increase in its revenue within a year Results

#9:Benchmarking the agri-distribution model of a renowned company • The client, a global FMCG giant present in India wanted undertake a competitive assessment of the agri-distribution model of a renowned FMCG in India • The competitor had introduced an innovative and unique procurement initiative aimed at eliminating the middleman and improving overall supply efficiencies by surpassing the traditional mandi channel • The client approached UC to conduct a field study and analyze the buy-side, sell-side and retail operating model of the competitor. It also wanted to assess the impact of this model on the competitor’s position in the FMCG food business in India Background and Challenge • We benchmarked all the elements from the farm to fork of the distribution channel of the company • We conducted extensive primary research across 100 villages in the states of Madhya Pradesh and Uttar Pradesh. • Interacted with all entities across the value chain to gain insights and nuances into the entire model • Detailed out the operating model and the role of key stakeholders in the value chain: farmers, sanchalaks, samyojaks, Adthiyas, Mandis, company’s procurement hub, processing centers, transportation and post produce support services • Conducted a buy-side assessment which included looking at type of crops purchased, procurement volumes and overall purchase value • Assessed procurement economics (Procurement Price, Commission, Loading and Unloading charges, Transportation, etc.) and benefits realized by surpassing mandis • Assessed farmer economics and price realizations by selling produce through this route vis-à-vis through mandis • Evaluated the qualitative and quantitative benefits realized by intermediaries (sanchalaks and samyojaks) • Detailed out the average investment and operating cost per facility / hub. Highlighted the overall total investments made state wise and the overall infrastructure set up • Also highlighted the future investments planned and strategy going forward for expansion and further operationalization of the venture • Highlighted how the model would help the company catapult its brand and provide it an easy foray into the premium segment of FMCG products • Highlighted the advantages of the retail mall segment, the competitor had recently ventured into Approach • The client received a detailed competitive assessment of its competitor’s distribution model which helped the client in shaping its own strategy for profitable sustainability and growth Results

#10:Defining growth strategy for a leading plant growth regulator player • The client, a group company of one of India's largest business conglomerates was a leading player in sugar, nutraceuticals and bio-products approached UC to help develop a strategy to accelerate growth • After years of intense R&D effort, the R&D team had come up with a break-through yield plant growth enhancer which had shown a 20 to 25% yield improvement for farmers • The Top and Senior Management of the bio-product division believed that this product had tremendous growth potential which had not been tapped so far • However, the product was priced at a premium and was perceived to be a niche product by farmers and therefore the sales pitch and positioning was not in a manner to promote revenue and profitability Background and Challenge • We extensively travelled across states/ key districts to determine farmer cropping patterns, buying behavior of PGR/ pesticide/ herbicide/ insecticide, seeds, product associations, met/ unmet needs and influencers involved. • Gauged the competitor presence in each district/ market, segmented them into strategic groups, gained insights on their route to market (channel structure, margins), territory management, farmer demos/ promotions • Conducted a detailed analysis on the existing channel of the client and recommended channel framework and policies to improve channel productivity and return on marketing effort • We reviewed the concept of farm clinics set-up by the client and recommended the strategy moving forwardto achieve attractive returns and provide overall farmer solutions • We identified key distributors to leverage across territories and provide focused support mechanism to reach defined growth targets • Designed the product’s value proposition based on quantification of the relative monetary benefits realized through the use of this superior growth enhancer compared to existing crop growth promoters which would enable the way farmers perceived the product • Made recommendations on introducing product variations at different price points to help expand the client’s addressable market of the product • Made recommendations on adapting product Attributes based on the farmer’s buying behavior • Recommended SKU variations based on farmer land holdings and buying needs • Recommended changes in product attributes (liquid / granular) based on type of crop / application Approach • Defined detailed roadmap to enable the client to achieve 5X increase in revenue within a 3 year period of implementing the recommendations Results

#11:Market assessment for one of the most profitable tyre companies in Asia looking to enter the North Indian farm tyre market • The Client was one of the most profitable tyre companies in Asia manufacturing ‘off-highway’ tyres for agricultural, industrial, construction and earth moving applications • Top Management approached UC to assess and conclude whether the company should enter the farm tyre OE/ replacement market Background and Challenge • Conducted extensive primary research across Punjab, Haryana, Rajasthan, Gujarat, UP and Delhi states and met with 249 farmers, tyre dealers, OEs and OE dealers to understand: • Consumer preferences, unmet needs, dynamics in the purchase of farm tyres • Buying patterns and SOB with each vendor • Competition strategy and initiatives: number of players, margins offered, prevalence of grey market, pricing and other differentiators • Assess importance of brands • Retail formats single / multi brand, single / multi product line • Range and pricing of products • Channel dynamics, selling and distribution costs (including channel margins) • Customer preferences for product attributes, response to a new brand, willingness to buy and at what price • Distribution network of existing players and possible options for the client • Key success factors for addressing the market • Importance of brand equity vs other promotions • Concluded on the attractiveness of the OE and tyre replacement market in each of the northern states • Assessed the retail format which can be employed by the company to enter the market and the financials for the same • Defined the entry strategy for the company into the northern markets Approach • The client received a detailed assessment of the North Indian farm tyre market as well as indicative financials with costs, investment and revenues for a five year period to validate and support the conclusion Results

Agenda Introduction Agribusiness & Food Credentials Food Case studies Profiles and Contacts 1 2 3

#1: Defining a Joint Venture Strategy between two companies on Behalf of a French Food company specialising in Cheese Making • The client is a US$ 6Bn European dairy player. Despite over a decade of operating experience in India, the client had not been able to build a commanding position in the Indian dairy business • The client intended to enter into a strategic partnership with one of large Indian private dairy players with a vision to strengthen its position in India and become a number two player in milk and milk products market with above average profitability Background and Challenge • We conducted in-depth discussions with industry peers, channel partners, opinion leaders, key institutional and industrial customers to understand the potential opportunities in dairy segment for traditional as well as value added products • A thorough scanning of the organized and gourmet retail stores was done to assess existing and potential opportunity for value addition in the shortlisted categories in dairy segment. • Eight major sub-categories such as cheese, butter, yogurt, whey etc. were shortlisted that depicted significant potential for value addition with reasonable market size and growth potential based on competitive intensity and Value Equivalence Line • Key success factors required to build market leadership position in the identified value added dairy product categories were assessed and the target company’s relative position viz a viz its current and future industry peers was mapped • We further highlighted the potential contributions that can be made by the client company to the proposed joint venture • We further worked upon building the brand strategy required for the proposed joint venture for all of the value added products aspired to be sold by the venture • Detailed working and analysis was carried out on the financials for the venture including target revenues • Further we then executed a fair valuation of the target company Approach • The client obtained a realistic assessment of the market size and growth rates of the evaluated product categories and sub-categories and brand share that the target company can look forward to achieve, given the current and future competitive forces in the Indian dairy business • They also developed a clear understanding of categories, which are attractive on account of having high potential for value addition and the extent of price premium that can be commanded to boost the bottom line of the proposed JV arrangement • The client also received a detailed brand strategy for the proposed joint venture and a fair valuation of the target company Results

#2: Opportunity assessment of the bakery ingredients industry in India for one of the world’s largest producers and distributors of bakery ingredients • The client, the Indian arm of one of the largest producers and distributors of fresh yeast, bakery ingredients, flavors and seasoning was looking to expand its presence in India and was targeting a growth of USD 100 Mn over the next 5 years. Towards this the Top management of the company requested UC to conduct a market segmentation and opportunity assessment focusing on assessing: • Macro market drivers impacting the business • Overview of the bakery industry landscape, current market size of key segments • Assessment of food consumption trends amongst end consumers and evolution of preferences • Assessment of competitive landscape and the key success factors for players to succeed in this space Background and Challenge • In order to inform our findings, we conducted interviews with a range of industry participants which included commercial/industrial bakers, QSRs, 5-star hotels, home based bakers, associations and distributors • Landscaped the baked goods market in India: assessed overall market • Analyzed impact of emerging trends such as changes in point of sale, importance of convenience etc. on the market of baked goods • To analyze the usage of bakery ingredients, we segmented the overall market for baked products based on various product pivots such as product form, product content/ingredients, manufacturing process used • Segmented the customers based on various pivots (such as type of business model used and type of sale points) to assess implications on their product mix and thus their ingredient usage • Highlighted the importance of differing manufacturing methods impacting the demand by various bakery ingredients and enhancers • Industrial and commercial customers focus on packaged bread while artisans have a relatively higher proportion of specialty and laminate breads • Based on a bottom-up assessment, developed a market model to assess the market opportunity for each product segment. • Undertook assessment of regional dynamics: consumption patterns and taste preferences, pricing variations and differences in overall demand • Assessed the player landscape and identified strategic player groupings based on their portfolio of offerings • Within each product (sub-segment) category identified potential opportunities to drive growth: product and customer focus Approach • The client received a detailed understanding of the bakery ingredients and seasonings market along with the opportunities areas where they could enter to achieve their target of 100 Mn in the next 5 years Results

#3: Defining strategic directions for growth in India for a leading European dairy player Background and Challenge • The client is a US$ 6Bn European dairy player. The client was not able to pursue a strategic tie up with one of the large Indian private dairy players due to differences in valuation and dissimilar management philosophy • The client was now searching for alternative strategic options for growth and profitability in India Approach • We assessed the long and short term objective of the client in India and looked at five lenses to evaluate strategic direction: • Business model (manufacturing, importing and distribution/ marketing), • Growth (organic and inorganic), • Manufacturing presence (North, South and West of India), • Customer focus (Retail and institutional) and • Product focus (Fresh, Extended Shelf Life and long shelf Life). • For inorganic growth strategy a player shortlist comprising ~ 17 players was prepared based on the selection criteria and the player’s willingness to enter into an alliance. • Individual player assessment for each of the ~ 17 shortlisted players was conducted. The list was further pruned to ~ 4 players based on criteria such as own milk collection network, synergies with client’s existing portfolio, distribution reach etc. • Based on the shortlisted 4 players’ willingness to enter into detailed discussions and client’s key focus region in India, a market landscape of the c. 7 product categories was undertaken • Market perception of the shortlisted players was also done. Financials were prepared for organic growth route as well as an inorganic growth route • Eventually dialogue was initiated for the candidates that showed willingness to take the discussion forward Results • The client obtained a realistic assessment on the strategic directions which it can adopt in India, list of potential candidates for a JV. and a realistic assessment of the market landscape of the 7 dairy product categories • They also developed a clear estimate of the revenue they can target in future through the organic and inorganic route

#4: Demystifying the demand-supply disconnect for food products manufacturing company • Client is a USD 11 Bn global market leader in skin care, nutritious drinks and second health beverages and is present in India since 1995 • Liquid milk accounts for 65% of client’s total raw material consumption and the company procures milk through its own collection centers and through brokers • Client’s top management believed that the price increase for its primary raw material ‘milk’ was not completely explained, as the supply appears to have gone up and therefore wished to understand the drivers for the same Background and Challenge • We conducted in-depth discussions with dairy farmers and dairy owners to understand the reasons for price increase • Demand situation – competitive pressure & demand for milk products and supply pressure- drought conditions, imports and productivity/ quality standards along with inter co-operative dairy company dynamics were studied to gain insights into the price increase. • Further trends in future price movements were also studied • We also understood in depth the political drivers of the price increase in materials especially in the Western and Eastern UP belt where there is an incidence of unorganized market for milk production and collection Approach • The client gained realistic insight into the factors leading to wet milk price increase and trends on future price movements Results

#5: Assessing the market opportunity and growth potential for specialty fats in the bakery segment in India • The client was a global player in the commodities market with activities spanning across the farm-to-fork value chain. The company’s portfolio included a range of commodities such as oilseeds, grains, rice, feed, freight, finance, juice, cotton, coffee, sugar and dairy • The management approached UC to assess the market opportunity for specialty fats in India and provide assistance in determining the attractiveness of this market through a study encompassing the assessment of the market opportunity, detailed customer analysis and competitive landscape Background and Challenge • Identified and segmented the market based on various pivots such as product type, applications, customers and regions • Analyzed the customer behavior to profile customer segments and categorize selection criteria, purchase patterns and switching behavior through primary research • Estimated market size using demand side and supply side methods. Assessed current and future opportunities of specialty fats across customer segments and applications • Mapped and evaluated the competitive landscape across the value chain to profile key competitors and categorize their key strategies, product offerings, market shares, margins etc. Analyzed the distribution model and network for key players across specialty fats segment • Analyzed customer feedback and competitor market share, along with existing and planned capacities, to evaluate potential for a new entrant. Understood existing supplier relationships and possibility of switching • Assessed the production processes of specialty fats along with the associated costs • Business economics for a new entrant were analyzed and opportunity for client was identified and proposed an entry strategy for the client based on the synthesized findings Approach • The client gained a clear framework with respect to attractiveness of market on various parameters such as addressable market size, future growth expectations , demand supply gap etc. • They identified barriers to entry in the market and assessed optimum channels for entry Results

#6: Conducting a Strategic Due Diligence for acquisition in sugar space in Maharashtra and Andhra Pradesh for a global agribusiness and foods producer giant • The client was a global leader in agribusiness space and was also a leading food products producer. The client had identified India as one of the potential destination for investments in sugar & ethanol business. The client currently was evaluating two target companies to partner for its entry and was looking at conducting a strategic due diligence of the potential partners and answering the following key strategic questions: • Which of the locations/ mills are more attractive? • Which of the two partners has a robust business model w.r.t to the plants under consideration? • What are the strategic options and way forward for the company ? Background and Challenge • UC undertook a detailed analysis of the target companies with on field primary research and interviews of key personnel within the company, Gained perspective on the following aspects w.r.t each of the mill locations • Number and capacity of mills (current and future): Total crushing capacity, operational capacities, average crushing days, and scalability of capacity • Location dynamics : distance from nearest port, annual agriculture produce and average cane production in the area, economics for competing crops, average rainfall and ground water availability, type of irrigation used and soil condition • Cost of cultivation per acre, net realization per acre and cane acreage • Feedstock availability: cane supply w.r.t.distance from the plant, type of available transportation, cane crushed and days of crushing (target vs competitors) and future expectations of crushing days and yeilds • Average historical recovery around the district and sugar recovery for the target and assessment of measures needed to improve recovery • Assessment of operational efficiency : utilization rate, average downtime, investment requirements to increase utilization, etc • Assessed future price realization and historic conversion spread between cane price and sugar price. Conducted detailed financial analysis which included future business plans, financial strengths, past performance (of last 5 years) and market capitalization. Evaluated IRR for each opportunity and outlined upsides and concern areas. Undertook sales and profitability analysis, operating profit analysis and assessment of future scalability, etc. Undertook enterprise valuations with various assumptions possible to arrive at an optimum valuation. Assessed sensitivity of enterprise value on sugar price and sugarcane price and days of crushing and recovery. Developed valuation as per EBIDTA multiples & market cap Approach • The client received a detailed due diligence of the target companies, along with a GO / NO GO recommendation from UC. Results

#7:Debottlenecking and improvement in operational efficiencies for material handling and storage systems at a manufacturing facility of India’s second largest spirits maker • Our client, was India’s second largest spirits maker operating India’s largest distillery was planning a capacity addition to its bottling capacity and wanted solutions that could facilitate them in proper handling and seamless intra-plant movement of packing material and finished stock. The client wanted improvement in operational efficiencies, thus minimizing handling wastages and debottlenecking material movement with benchmarked practices of material storage and retrieval system Background and Challenge • The first part of the engagement started with scanning the work already undertaken by the client and validating the adequacy of the proposed infrastructure. We conducted in-depth discussions with key process owners to understand the current issues faced in material storage and handling and estimate the future infrastructure requirements based upon projected bottling capacity. All major decisions on capital investments proposed by the management to facilitate material storage and handling were reviewed in light of their feasibility and return. • Proposed storage infrastructure was allocated between individual SKU categories. Layout of each storage location was designed to facilitate seamless material movement right from the unloading point to storage, from storage to production, from production to warehouse and from warehouse to loading. • We conducted in-depth discussions with industry peers and MHE suppliers to understand the application and options available for storage and material handling in industries of similar nature. Assessment of the available options for material storage, handling and movement was undertaken on financial as well as operational parameters to shortlist the storage system and material handling equipment, its specification and desired quantity for individual storage locations and SKU category. • Material movement path was defined to minimize TAT (turnaround time) for material movement and facilitate systematic storage and stacking of material, in order to optimally utilize the available storage space. We also developed a financial model to quantify the benefits resulting from savings in manpower and reduction in handling wastage. • Process flow for directing vehicles to the parking lot, in case of excess vehicles reporting during peak hours and tracking their movement in and out of the plant via ERP (SAP) was designed. This was undertaken based upon discussions with client’s IT team, key process owners and plant visits, conducted at two large distilleries, managing twice the fleet size than what was expected by the client. Approach • The client obtained a realistic assessment of the available storage space and gained clarity on the type of MHE to be used for movement of each SKU, at each storage location. Client also received a perspective on the tangible and intangible benefits of undertaking the investment, which included optimum utilization of storage space, ability to implement of automated inventory management system, faster issue and receipt of material, reduction in lead time for stock taking, maintain FIFO based inventory and better housekeeping Results

#8:Landscaping the Beer Distribution Market in India and Defining an India Entry Strategy for a Dutch Brewer • The client, a leading Dutch brewer, engaged UC to define a route-to-market strategy to bring its flagship beer brands to India. • To achieve this, UC conducted the following tasks: sizing the addressable market across categories (eg. strong beer, mild beer, premium beer, etc.) of beer in India, capturing market share and distribution channels used by leading players, and defining the potential implications of the above on the client’s entry into the Indian market. Background and Challenge • In order to effectively landscape the distribution market for beer in India and to define the client’s • India entry strategy, UC adopted the following approach: • Triangulated primary and secondary research findings to ascertain the market size, competitive landscape and expected growth rate of individual product segments within the Indian beer market • Identified key demographic, geographic (across states and cities vs. rural) and structural (monopoly vs. structural) trends that would affect the potential distribution model adopted by the client. • Built case examples to illustrate learnings from strategies adopted by prevalent brands in the Indian market • Conducted store checks and detailed discussions with market participants to define the potential product mix the client should adopt to cater to the Indian demand (eg. Mild beer, strong beer, premium beer, etc.) • Used a scenario based analysis to articulate key strengths and weaknesses of the potential distribution model the client could adopt • Identified potential distributors and partners that the client could liaison with to take forward its business plans Approach • The client received a detailed segment and product level insight into the Indian beer distribution market and a market strategy complemented with potential partners to take that strategy forward Results

#9: Benchmarking Cost and Identifying Cost Optimization Opportunities for a global commodities player for its refined edible oil brand in India • The Client, a manufacturer of refined edible oil brand in Rajasthan and Western UP wanted to evaluate cost saving opportunities in areas of processing, packaging, selling and distribution • In this context, Management at the company requested Universal Consulting to assist in analyzing the existing cost structure, benchmarking its cost structure against that of key competitors and identifying opportunities for cost optimization Background and Challenge • We began the assignment by understanding the cost structure of each cost head of the company in detail. Cost heads were further classified as controllable cost and uncontrollable costs. Detailed analysis was conducted on the controllable cost heads to identify opportunities for cost reduction • We conducted in-depth interviews with the concerned personnel to discuss each of the cost heads and brain stormed cost reduction opportunities • Within Packaging evaluated opportunities for items (corrugated box, HDPE jars, PET bottles, Tin box etc.) contributing 98% of consumption value. Introduced new vendors in the market to the client for better sourcing opportunity and recommended changes in the packaging material procurement process and the packaging quality check process. Examined - • Buy vs. Make Decision • Change in design to optimize weight and dimension • Alternate sourcing options • Alternate packaging material • Opportunities to reduce rework/ packaging • With respect to the cost optimization opportunities within the manufacturing process, benchmarked consumption of resources (steam, power, major chemicals) with similar profile and capacity competitors in the market. Analyzed options for alternate grade inputs – bio coal, imported coal, alternate vendors for key chemicals etc. • Also examined logistics costs and evaluated options like alternate mode of transport, own vs buy transport arrangement for both inbound and outbound transportation. Analyzed the need of external warehousing and recommended on the optimum usage of own warehouse Approach • Initiatives resulting in an annual benefit of INR 162 lac were recommended, and an action plan based on priority was defined for the client to take the implementation forward Results

#10: Expansion strategy for a leading food manufacturer in the Ready to Eat and Frozen segment • The client, was a leading manufacturer of vegetarian Indian ethnic ready to eat and frozen food, catering to the markets in USA and UK. The company was also one of the first players to market Indian ethnic food in these countries. Its product portfolio included: pickles, chutneys, frozen vegetables, parathas, pastes, masalas, frozen entrees, snacks and instant mixes • Despite being an early mover in the International markets, the company was unable to garner market share. The Top Management thus approached UC to support them in defining a strategy to accelerate growth in these markets Background and Challenge • For both the US and the UK markets, UC conducted Primary Research with different target groups to validate the various growth avenues for the firm. Target groups included supermarkets, Indian ethnic retail shops, food service institutions, competitors, distributors etc. The focus of the market research, apart from understanding industry size and trends, was also to identify, target markets, distribution channels and future strategies of key competitors • We first landscaped the Indian ethnic food market which included examining the overall market (size and growth trends) and segmenting it based on consumer type and channels adopted to reach them • Used consumer surveys to evaluate food consumption patterns, taste preferences and purchasing behavior of ethnic foods. Assessed differences in purchasing behavior and key purchase channels used between various consumer groups such as 1st/ 2nd generation immigrants, mainstream and institutional consumers, etc. Evaluated key segments and identified product categories that were likely to show strong growth. Identified key themes emerging in each channel such as growing significance of health foods, organic foods and private label brands • Undertook a market mapping exercise to map the clients product presence with key market segments. Identified gaps and made recommendations on category focus, branding initiatives, market strategy and sourcing approach • A go-to-market strategy was defined with respect to different channels such as Indian ethnic retail, supermarkets and food services. For instance, in order to enhance presence in the supermarket channel made recommendations to develop a product portfolio in a phased manner by introducing products suited to market needs such as focus on meat based meals, frozen foods, etc. Examined de risking strategy of supplying in competing cuisines Also recommended initiatives to strengthen relationships with top supermarkets for manufacturing private label products • Developed a capability building strategy and defined a suitable organization changes to be able to capture growth. We also defined the business model of growth and key decision making frameworks for further expansions Approach • The client received a clear understanding of the nuances of the market environment in the US and UK and a strategic agenda designed to enhance its presence in the different channels in these markets Results

#11: Defining the Growth strategy for India’s leading premium natural mineral water brand • The product had a premium by association positioning in India as it was mostly available across premium institutions. Though it had well penetrated the HBR market, it had limited presence in the retail and impulse segment • In order to protect their leadership position and increase their nation wide presence the client was looking at strategies in distribution, diversification and exports Background and Challenge • Conducted primary research in 8 locations, and held discussions with 543 respondents across different respondent groups i.e. consumers, channel members (distributors, retailers, institutions etc.) and competitors • Undertook consumer surveys to assess buying occasions for bottle water, product / brand Preferences, frequency and point of purchase, customer awareness and perception of the client’s brand, switching criterion, propensity to pay price premium for natural mineral water over bottled water, etc. Conducted interviews with retailers and institutional customers to assess product/brand selection, reasons for selection of brands , pricing and credit terms, awareness of natural mineral water and assess consumer buying patterns • Based on market feedback, developed a product strategy for launch of different SKUs across various price points. • Identified issues with existing channel policies and defined initiatives in areas of margins and credit policy. Evaluated various distribution channels and availability across high impulse locations. Made recommendations on the kiosk strategy: identified key touch points with premium customers and examined different models that can be used based on ownership & management and kiosk cost • Defined marketing & promotions strategy (pull and push) for influencers, channel partners and customers. Made recommendations on promotions targeted at each point of a consumers buying cycle and for different channels • Examined opportunities to reduce distribution costs and opportunities for the usage of rail transport and to increase presence in the fast growing modern trade outlet channel • Analyzed diversification into related products and designed an export strategy based on synergy with the clients offerings and ability to leverage its distribution and reach • Defined a marketing organization structure. Defined a roll out plan and prepared a detailed implementation plan to assist top management and key personnel during the implementation phase Approach • The client received an in-depth marketing & promotions agenda and strategic recommendations that would enhance its presence in the retail and impulse market. In addition it also obtained an assessment of opportunities for export and diversification into related products Results

#12: Mapping Bakery and Distribution Dynamics for Yeast Market for a global manufacturer of bakery ingredients looking to enter the Indian Market • The client, a global manufacturer of bakery ingredients was looking to strategically enter the Indian market • The client wanted to understand the current market dynamics with respect to the value chain for baking yeast. Background and Challenge • Triangulated primary research across three representative locations to assess the opportunity for a new dry yeast supplier • Developed a market model to estimate the overall bakery yeast market in India. Estimated the demand from each location under study and evaluated the demand contribution of each location to the overall yeast consumption in India. Assessed demand for dry and fresh yeast based on the type of bakery customer segment (artisan, institutional and commercial) and key factors driving penetration • Evaluated location dynamics and assessed factors unique to a location that impacted the penetration of the type of yeast (fresh/dry). For instance, smaller towns tended to have a higher penetration of dry yeast given limitations in terms of distribution/supply whereas Mumbai had a greater penetration of fresh yeast driven by its “ferrywallah” like network of delivery boys enabling delivery in a timely manner • Conducted an in-depth assessment of the distribution network, evaluated key entities in the value chain. Characterized the distributor segment in each location based on the range of bakery ingredients supplied, supplier network used, purchase terms and bargaining power with suppliers, supplier loyalty, customer base and degree of customer loyalty and quantity of yeast supplied, logistics used and promotional initiatives adopted • Characterized key customer segments based on preference of dry / fresh yeast, production volumes and consistency in their demand, ability to negotiate credit terms with distributors, Relationship with supplier, key selection criterion and Willing to switch • Developed a summary for each of the representative locations covered • Based on market findings, concluded that variations in the penetration of type of yeast across locations was largely a function of a set of parameters such as length of the distribution channel and time taken to deliver from the supplier to the bakery, regularity of power supply available, the size/type of bakeries and predictability of their demand and supply economics and proximity of bakeries Approach • The client received an understanding on the overall market for fresh and dry yeast for the three representative locations, the bargaining power across the various entities in the value chain, and an understanding of competitive landscape Results

#13: Evaluating the Opportunity for Cocoa Butter Substitutes, for a Global Commodity Player • The client, a global player in the commodities market with activities spanning across the farm-to-fork value chain, wanted to assess the market opportunity for cocoa butter substitutes (CBS) in India • The client wanted to understand the entry attractiveness, user industry dynamics and the demand-supply gap • The client also wanted to finalize a location for setting up the proposed plant if the segment seemed attractive Background and Challenge • We started the engagement by Identifying the various types of cocoa butter substitutes that can be used in chocolates in place of cocoa butter • Detailed analysis was conducted to understand the current and future drivers of CBS growth in India • Further the market size and future growth rates by each product segment were triangulated through detailed primary and secondary research • We also developed a scenario to analyze the current and future demand supply gap in the industry • Developed summary snapshots for individual product segments and identified salient macro trends and drivers likely to impact them • Assessed customer segments and analyzed the competitor landscape • Conducted a detailed location analysis to shortlist appropriate locations for the commissioning of the proposed plant Approach • The client gained a clear framework with respect to attractiveness of market on various parameters such as addressable market size, future growth expectations , demand supply gap etc. • They identified barriers to entry in the market and assessed optimum channels for entry Results

#14: Providing Assistance in Implementing a Technology Solution for a Master Franchiser of a Leading Global QSR Chain Background and Challenge • The client, a master franchiser of a leading global QSR chain requested UC to assist them in implementing a technology solution for their business. The client had asked UC to work alongside their technology partner for this project Approach • We prepared and proposed a new IT organization structure. This was to ensure speedy decision making and enhance facilitation to implement technology solutions • Laid down detailed networking options that were available to the client based on the internal requirements and available infrastructure in the market • Proposed data Centre connectivity methods and options for a seamless integration of systems and flow of data • Designed an operations module and other key modules and its interconnectivity with: • Finance and accounting module • HR & Training module • Food safety, maintenance and repair module • Networking and office administration module • Detailed out scope and requirements of the operations and the issues that may impact the progress of overall implementation progress • Worked on cost analysis of full implementation of the technology solution • Evaluated current systems and proposed new IT architecture • Designed corporate office, distribution center and store network architecture with details of systems to be used at each location • Designed interface between each operational modules and worked with the technology vendor to implement the same. Results • Fully digitized and operationalized the client’s Mumbai outlets and stores, thus concluding a successful implementation of technology solution.

#15: Assessing the Market Perception of Competitor Brands for a Manufacturer of Indian Ethnic Food Products Background and Challenge • The client was a leading producer of Indian Ethnic products (pickles, instant mixes, chutneys, curry powders etc.) for household consumption, with sales across various countries • The client was in the process of evaluating a leading competitor as a part of their partnership strategy in India, and wanted to develop an understanding of the market perception of the competitor’s performance across various cities and product segments • Primary research was conducted with modern and traditional retail channels to understand the prevalence of branded products in each category and drivers for future growth • We further mapped the market share and penetration of competitor brands in each product category, for modern and traditional retail outlets across 9 cities • Value chain for the distribution for each product category was analyzed in detail through distributor interviews • Further developed an understanding of the key purchase criteria used by customers to select products in each category • Assessed the performance of competitor brands on key purchase criteria as perceived by customers and retailers Approach Results • The client received a detailed insight into the market perception of competitor brands in the four product categories analyzed, with a focus on the brand being evaluated for partnership

#16: Feasibility Study for Entry into Rice Bran Oil • The client, a leading agribusiness and food company with operations across the globe sells products and services at numerous points along the food production chain • The client is evaluating entry into the edible rice bran oil (RBO) space in India. As a starting point the top management intends to study the feasibility of setting – up a plant in the state of Tamil Nadu where the company has already a captive requirement for RBO • The following are the key strategic questions they were seeking to answers to with reference to Tamil Nadu: • Is the market attractive for setting up a RBO manufacturing plant? • What is the volume requirement for various market segments? • What is the market perception of usage of blended RBO vis-vis full RBO? • What should be the entry model? • The top management has requested UC to assist them for feasibility study for entry into RBO for Tamil Nadu Background and Challenge • We initiated the project with context building so as to understand strategic intent and capabilities • Met the top management and other senior management personnel • Gain perspective on Basis/strategic intent for selection of entry into RBO business, preferred position in the value chain , preferred technology options etc. • Revenue and return expectations were analyzed • Gained perspective of existing capabilities • Primary an secondary research was done to undertake detailed market analysis, customer analysis and competitor analysis • Basis our synthesis of findings, we developed a business model and the entry strategy for the client Approach • The client received a detailed report with respect to market snapshot, customer and competitor analysis and a detailed market entry strategy into the rice bran oil segment Results

UC Directors have deep capabilities in strategy formulation, agri-business and food and large scale transformational projects (1/2) • Venkatesh is a Director at Universal Consulting India Pvt Ltd. (UC) and heads our Chennai office. He has been with the firm for 12 years and has significant experience in Agriculture, Food & Beverages, Industrial Products and Power & Energy. He also has deep expertise in supply chain optimization and manufacturing sector. • He has advised clients in a wide array of strategy and operations improvement engagements across Agriculture, Food & Beverages, Industrial Products, Automobiles, Energy, Logistics, etc. and has done ~100 projects till date, some examples includes…. • Defining and Executing marketing and sales strategy for a leading agro-chemical company • Optimizing supply chain processes and costs for a leading agro-chemical player • Defining and implementing new product development process for a agro-chemical company • Defining and executing entry strategy into sugar for a leading multi-national agri-commodity major • Defining global growth strategy for technology player which is into setting-up distillery and brewery plants • Location identification for setting-up a manufacturing unit for a multi-national yeast manufacturing company • Identifying opportunities to invest across the agri-value chain • Assessing feasibility of third generation feedstock for ethanol production • Leveraging seed capabilities in the bio-fuel space • Feasibility study for entry into rice bran oil for a leading multi-national agri-commodity major • Defining growth strategy for a leading company in bio plant growth regulator space • Defining processes and linking operational metrics to shareholder expectations for a logistics major catering to the food segment • Market assessment for pulses in India • Defining business unit strategy and executing for a EPC company focusing on sugar & boiler businesses • Venkatesh S has deep experience in change management and implementation across key sectors such as agriculture, power, automotive and industrial products which has enabled him to give a practical view and focus on action to the clients • Before Universal Consulting, Venkatesh has worked for a chemicals manufacturing company. He is a MBA from KJ Somaiya Institute of Management, Mumbai and also holds a B. Tech Chemical Engineering degree from University of Madras S.Venkatesh

UC Directors have deep capabilities in strategy formulation, agri-business and food and large scale transformational projects (2/2) • Samir is a Senior Director at Universal Consulting India Pvt Ltd. (UC) and heads our New Delhi office. He has been with the firm for 20 years and has significant experience in the manufacturing and service sector. He has executed over 250 cases of which more than 150 have been in the areas of strategy and operations. He has advised clients in the Food & Agri, Financial Services, Life Sciences,, Private Equity, Automotive, Retail Goods Industry, Industrial Goods, Rural, Non – Profit organizations, in India & the Middle East. • Some of his case examples include… • Strategic realignment of the milk supply chain for a global MNC player in India • Expansion strategy for a leading food manufacturer in the ready to eat and frozen segment • Entry and growth strategy for Indian ethnic food major into ambient and frozen food category in India, UK and US • Joint venture strategy for one of the world’s foremost dairy players • Long range strategic option evaluation, for one of the world’s foremost dairy players • Strategic direction setting for a global dairy player • Feasibility study of food polymers: Xylitol and BHA • Leveraging seed research capabilities for a large agrochemical company • Landscape of agriculture sector in India for a global private equity capital firm • Manufacturing review of an agrochemicals company • Market assessment and determining tipping point for drip irrigation adoption • Strategy in micro finance for small and marginal farmers • To assess the feasibility of a chemical manufacturing company • Conducting market scan for oil and gas and agri-equipment business • Conducting market scan and strategic diligence of food manufacturing company • Samir is graduate in Bachelors of Commerce from Mumbai University. He also attended the “Leading Professional Service Firms” program at the Harvard Business School in Boston. Samir Sathe

Kedar Borwankar, Senior Manager • Manager having 5 years having significant experience in the manufacturing and service sector. Advised clients in the space of Agribusiness, Operations process, Telecom Service Providers, Automotive, Chemical, Retail Goods Industry, Industrial Equipments etc. • Some of assignments experience includes: • Supply chain optimization strategy and execution for a leading agro chemical manufacturer • GSM operations rollout for one of the “top 3” circles; which includes project management for setting up network, infrastructure, distribution channel, COCO retail outlets, manpower management • Setting up operations for retail broadband business across India; which includes designing and rolling out end to end business processes and distribution channel. • Streamlining the “reverse logistics” chain for FWPS (fixed wireless phones) • Defining and implementing the balanced scorecard for TSP • Optimization of BTS utilization across the country; which includes project management for identifying low performing BTS and converting them to high performing (through transfer of BTS to high performing circles/clusters) • Telecom competency management – identifying critical roles, defining competencies and mapping available competencies to critical roles • Setting up “BE&T” (business excellence and transformation) office in 2012: • Identification and separation of following initiatives: top “make or break” projects (transformation projects), middle level projects (using six sigma GB methodology) and projects impacting culture at operating level (individual YB projects) • Project BUILD - using the ETOM model, identified, prioritized, defined and rolled out business critical processes, defined and rolled out critical process KPIS for processes, initiated the “process operations reviews using six sigma scorecards”, critically audited each processes (process compliance) and finally initiated improvement projects from audit findings/BSC reviews/process sigma scorecard reviews – complete PDCA cycle implementation • Managed core team (in MD office) instrumental in implementing TL 9000 management system across organization. • Program managed some core transformation projects like a. Increase in HVC base b. CSO (central service organisation) c. BPR (E2E CLM including billing, collection) d. NVS (non voice services) • Define a strategic roadmap for launching a software company • Organisation Review and Alignment for a Large Film Distribution Company in India Sample Team Member Profile

Phanish Kumar – Senior Consultant • Phanish is a Senior Consultant with Universal Consulting India Pvt Ltd. (UC) • Phanish has a rich experience in Agri-domain • As a Business Operations Manager in ITC he managed the commodity supply chain operations in the state of Madhya Pradesh. The commodities he has managed are Wheat, Soybean & Maize. The procurement of the said commodities is also made directly from farmers through ITC e-choupal. The average volume of commodities he has managed is about 5 Lakh Metric Tons across the 32 operating locations. The major responsibilities include demand planning, warehousing, transportation, inventory management and IT/ERP Systems management • He also managed the FMCG supply chain & warehouse operations for the various products all over India for Bunge. The products he managed were Refined Oils, Vanaspati & Bakery fats. The major responsibilities include d planning, warehousing, transportation, inventory management and IT/ERP Systems management. • He has also attended workshops/ been involved in projects related to agri-business: • Worked with the Department of Rural Development, Govt. of Andhra Pradesh. The study was based on Suguna Poultry Ltd and the project was funded by Ford Foundation. The duration of the project was August 2010 to December 2010. Developed a business model along with financials for setting up a Soya based manufacturing plant Soya Dal analogue and Soya Protein Isolate • He is an PGDM (RM) from Xavier Institute of Management, Bhubaneswar and B.Tech. (Biotechnology) from Sathyabama Institute of Science and Technology, Chennai Sample Team Member Profile

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