Product details

Jay Sharma, Managing Director, Gwalia Sweets Pvt Limited, while chairing the board meeting of the company held on June 15, 2015, expressed serious concern about the decline in profit. Gwalia Sweets, founded in 1994, had been showing profit continuously since FY2004-05 with profit growing from Rs. 0.15 million in FY2004-05 to INR2.82 million in FY2013-14. However, FY2014-15 had witnessed a sharp decrease in the overall profit by 25.3% in its sweets and confectionery segment. Jay Sharma felt that the sweets and confectionery markets in India were getting competitive and that the customers' food habits were changing. He was concerned about the downturn in the core sweet business and expressed the need to develop strategies that would take the family business ahead while halting the slide in profits. The board members requested Jay Sharma to present a business plan at the next meeting that was a month away. They mentioned that the future course of action should consider the changing customer tastes and preferences at both regional and national levels; the entry of national and international brands with innovative confectionary products; and the current business scenario.