G_B_ Posted August 22, 2019 Share Posted August 22, 2019 I dont live in India. However, last times i went to corner shop in India there were many similar alternatives priced less than Parle g..... Dont know how good they were. Re the job losses. I suspect its automation which is the real culprit. Link to comment Share on other sites More sharing options...
G_B_ Posted August 22, 2019 Share Posted August 22, 2019 21 hours ago, Singh bling said: Indian economy is in very bad condition.Once the nasha of nationalism goes down then Govt will face the music. or maybe this is like the time when you said demon would cost the bjp and it never did.... Link to comment Share on other sites More sharing options...
G_B_ Posted August 22, 2019 Share Posted August 22, 2019 Something does not smell right here. As mentioned by the folks who i follow on twitter, Hindustan unilever which is a much bigger company than Parle G has a total of 18,000 employees. I double checked this for myself just to be sure and it is the case. So does Parle even have 10,000 employees to begin with? It does seem to me that there is the truth + masala mixed into this story. Corporate India seems desperate for funds infusions from gov. adi B 1 Link to comment Share on other sites More sharing options...
adi B Posted August 22, 2019 Share Posted August 22, 2019 5 minutes ago, G_B_ said: Something does not smell right here. As mentioned by the folks who i follow on twitter, Hindustan unilever which is a much bigger company than Parle G has a total of 18,000 employees. I double checked this for myself just to be sure and it is the case. So does Parle even have 10,000 employees to begin with? It does seem to me that there is the truth + masala mixed into this story. Corporate India seems desperate for funds infusions from gov. Valid points. GST is the new norm and will be continued ,companies, traders have to accept that .off course there can be modifications but it wont be taken back Link to comment Share on other sites More sharing options...
rkt.india Posted August 22, 2019 Share Posted August 22, 2019 Didn't we have VAT before GST? Link to comment Share on other sites More sharing options...
Mariyam Posted August 22, 2019 Share Posted August 22, 2019 59 minutes ago, rkt.india said: Didn't we have VAT before GST? Among others, the main difference being that in the VAT the seller state collects the VAT. In case of the GST its the consumer state that collects the revenue. Link to comment Share on other sites More sharing options...
velu Posted August 22, 2019 Share Posted August 22, 2019 if the government is not going to give stimulus and start easing loans to SMEs , we will be in a bog soup sooner than later .. even thailand annoucned some stimulus probably if our economy worsens , people will stop buying cream biscuits and will end up buying 5rs parle-g and tiger biscuits instead @Stan AF Link to comment Share on other sites More sharing options...
Singh bling Posted August 22, 2019 Share Posted August 22, 2019 4 hours ago, G_B_ said: Something does not smell right here. As mentioned by the folks who i follow on twitter, Hindustan unilever which is a much bigger company than Parle G has a total of 18,000 employees. I double checked this for myself just to be sure and it is the case. So does Parle even have 10,000 employees to begin with? It does seem to me that there is the truth + masala mixed into this story. Corporate India seems desperate for funds infusions from gov. Parle, founded in 1929, employs about 100,000 people, including direct and contract workers across 10 company-owned facilities and 125 contract manufacturing plants. https://www.livemint.com/companies/news/parle-india-s-biggest-biscuit-maker-may-cut-up-to-10-000-jobs-as-slowdown-bit-1566449040530.html Link to comment Share on other sites More sharing options...
Singh bling Posted August 22, 2019 Share Posted August 22, 2019 10 hours ago, G_B_ said: or maybe this is like the time when you said demon would cost the bjp and it never did.... I said Demo will hurt indian economy may be BJP may be not. The fact is economics and politics in India are opposites . Two of most Popular PM of India Indira and Modi hardly have any big economic achievements both were strong on Pakistan . Poverty increased during indira's time rapidly yet she is still popular. Link to comment Share on other sites More sharing options...
R!TTER Posted August 22, 2019 Share Posted August 22, 2019 12 hours ago, G_B_ said: Re the job losses. I suspect its automation which is the real culprit. Nah consumption led growth can only take you so far, we need something similar to China but actually "Made in India" by Indians! Link to comment Share on other sites More sharing options...
G_B_ Posted August 22, 2019 Share Posted August 22, 2019 3 hours ago, Singh bling said: Parle, founded in 1929, employs about 100,000 people, including direct and contract workers across 10 company-owned facilities and 125 contract manufacturing plants. https://www.livemint.com/companies/news/parle-india-s-biggest-biscuit-maker-may-cut-up-to-10-000-jobs-as-slowdown-bit-1566449040530.html 100,000 workers? Reliance industries has close to 200,000 employees. This includes subsidiaries like jio This is imo a gross overestimation of their workforce Is there any info on their revenues? Link to comment Share on other sites More sharing options...
G_B_ Posted August 22, 2019 Share Posted August 22, 2019 https://www.thehindubusinessline.com/companies/parle-aims-rs-100-150-crore-turnover-from-nurtricrunch-in-2-years/article26486166.ece So they reported a 21% rise in profit in last fiscal Revenue of 8500 crore. Even if your contract worker the company has to pay you something right? Then you have cost of machinary or plant operation logistics packaging etc. adi B 1 Link to comment Share on other sites More sharing options...
rkt.india Posted August 23, 2019 Share Posted August 23, 2019 7 hours ago, Mariyam said: Among others, the main difference being that in the VAT the seller state collects the VAT. In case of the GST its the consumer state that collects the revenue. My point is we had taxes before as well. We had multiple taxes sales takes, excise duty, etc. Now just one GST. beetle and Switchblade 2 Link to comment Share on other sites More sharing options...
rkt.india Posted August 23, 2019 Share Posted August 23, 2019 https://www.thehindubusinessline.com/companies/parle-aims-rs-100-150-crore-turnover-from-nurtricrunch-in-2-years/article26486166.ece Parle had 21% jump in revenue last year. It seems these are just tactics to put pressure on govt regarding GST. sergio04, adi B and beetle 3 Link to comment Share on other sites More sharing options...
Stan AF Posted August 23, 2019 Share Posted August 23, 2019 9 hours ago, velu said: if the government is not going to give stimulus and start easing loans to SMEs , we will be in a bog soup sooner than later .. even thailand annoucned some stimulus probably if our economy worsens , people will stop buying cream biscuits and will end up buying 5rs parle-g and tiger biscuits instead @Stan AF CEA has already said no. Now we wait for the cherry on top the global recession to go with our slowdown. Jimmy Cliff 1 Link to comment Share on other sites More sharing options...
beetle Posted August 23, 2019 Share Posted August 23, 2019 Looks like mauke pe chauka. Trim the company and blame the economy and get sympathy while firing people. Link to comment Share on other sites More sharing options...
G_B_ Posted August 23, 2019 Share Posted August 23, 2019 1 hour ago, beetle said: Looks like mauke pe chauka. Trim the company and blame the economy and get sympathy while firing people. I think rather its just a masala by livemint They did this during elections as well. Quoted blatently wrong bookies prices Link to comment Share on other sites More sharing options...
velu Posted August 23, 2019 Share Posted August 23, 2019 3 hours ago, Stan AF said: CEA has already said no. Now we wait for the cherry on top the global recession to go with our slowdown. FM submitted her fiscal stimulus plan to PMO .. If the global economy shows downtrend we can't do much .. Most of our recent problems are because of NBFC lending .. if the government thrown money at them you commies might have blamed them Link to comment Share on other sites More sharing options...
ravishingravi Posted August 25, 2019 Share Posted August 25, 2019 How does business cut jobs with 20 % profits ? Link to comment Share on other sites More sharing options...
G_B_ Posted October 17, 2019 Share Posted October 17, 2019 Parle Biscuits net profit rises 15% in FY19; revenue up 6.4% to Rs 9,030 cr Quote According to information shared by business platform Tofler, Parle Biscuits' FY19 net profit was Rs 410 crore versus Rs 355 crore reported the previous year https://www.business-standard.com/article/companies/parle-biscuits-net-profit-rises-15-in-fy19-revenue-up-6-4-to-rs-9-030-cr-119101600037_1.html Still waiting for those 100,000 job cuts.... @Stan AF @Stuge @Singh bling The new Parle G narrative is apparently 28% unemployment in Haryana.... The sequence of events in the Parle G saga - Parle G get 18% GST levied. - Parle G throws a tantrum and claims they will axe workforce - "Woke" and leftist media pick up on the same and supposed economic experts claim people cant afford Parle G - Parle G backtracks cause now the focus on firmly on them with several pointing out inconsistencies in their story - Parle G reports profits for last fiscal and quietly accepts fate not wanting to draw attention on activities. velu, sergio04, diga and 1 other 4 Link to comment Share on other sites More sharing options...
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