![Carte Blanche ,[object Object],[object Object]](https://image.slidesharecdn.com/the-road-to-no-where-1234539516394645-3/75/the-road-to-no-where-3-2048.jpg?cb=1668500037)
![The Bust! ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]](https://image.slidesharecdn.com/the-road-to-no-where-1234539516394645-3/75/the-road-to-no-where-4-2048.jpg?cb=1668500037)
![Timelines: 30 th Jan – 13 th Feb A Degenerating situation ,[object Object],[object Object]](https://image.slidesharecdn.com/the-road-to-no-where-1234539516394645-3/75/the-road-to-no-where-5-2048.jpg?cb=1668500037)
![Inconvenient Truth ,[object Object],[object Object],[object Object],[object Object]](https://image.slidesharecdn.com/the-road-to-no-where-1234539516394645-3/75/the-road-to-no-where-6-2048.jpg?cb=1668500037)
![Inconvenient Truth ,[object Object],[object Object],[object Object]](https://image.slidesharecdn.com/the-road-to-no-where-1234539516394645-3/75/the-road-to-no-where-7-2048.jpg?cb=1668500037)
![Inconvenient Truth ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]](https://image.slidesharecdn.com/the-road-to-no-where-1234539516394645-3/75/the-road-to-no-where-8-2048.jpg?cb=1668500037)
![Inconvenient Truth ,[object Object],[object Object],[object Object]](https://image.slidesharecdn.com/the-road-to-no-where-1234539516394645-3/75/the-road-to-no-where-9-2048.jpg?cb=1668500037)
![Food for thought ,[object Object],[object Object],[object Object]](https://image.slidesharecdn.com/the-road-to-no-where-1234539516394645-3/75/the-road-to-no-where-10-2048.jpg?cb=1668500037)
![How did Subhiksha spend Rs.660 crores? ,[object Object],[object Object],[object Object],[object Object],[object Object]](https://image.slidesharecdn.com/the-road-to-no-where-1234539516394645-3/75/the-road-to-no-where-11-2048.jpg?cb=1668500037)
![Option 1: Funding Expansion! ,[object Object],[object Object],[object Object],[object Object],Difficult to imagine such a FURIOUS level of expansion! Subhiksha had announced Consumer Durable stores and Private Mandis during this period! However non of that saw the light of the day RS was risking Debtors money on very risky expansion plans In Other words “WHAT WERE YOU THINKING?”](https://image.slidesharecdn.com/the-road-to-no-where-1234539516394645-3/75/the-road-to-no-where-12-2048.jpg?cb=1668500037)
![Option 2: Financing Existing store Operations ,[object Object],[object Object],Subhiksha’s USP was discounts! It certainly looks like RS discounted his merchandise by 75% or more to eat up all the Rs.620 in operations! Conversely, this means that a majority of stores were not making Money! Or so it would seem! In Other words, “That’s not BUSINESS! Where are the returns?”](https://image.slidesharecdn.com/the-road-to-no-where-1234539516394645-3/75/the-road-to-no-where-13-2048.jpg?cb=1668500037)
![Option 4: Option 1 + Option 2 ,[object Object],[object Object],In Other words “ More investments in a business, which was already struggling and not performing” “ HARDLY GOOD BUSINESS SENSE”](https://image.slidesharecdn.com/the-road-to-no-where-1234539516394645-3/75/the-road-to-no-where-14-2048.jpg?cb=1668500037)
![Option 5: Debt servicing of earlier loans ,[object Object],[object Object],[object Object],An aggressive expansion strategy based upon high leverage debt, without Consolidation and nurturing profits could be a double jeopardy which it Eventually turned out to be](https://image.slidesharecdn.com/the-road-to-no-where-1234539516394645-3/75/the-road-to-no-where-16-2048.jpg?cb=1668500037)
![[object Object],[object Object],[object Object]](https://image.slidesharecdn.com/the-road-to-no-where-1234539516394645-3/75/the-road-to-no-where-17-2048.jpg?cb=1668500037)
![Fact of the matter ,[object Object],[object Object],[object Object]](https://image.slidesharecdn.com/the-road-to-no-where-1234539516394645-3/75/the-road-to-no-where-19-2048.jpg?cb=1668500037)
![Fact of the Matter ,[object Object],[object Object]](https://image.slidesharecdn.com/the-road-to-no-where-1234539516394645-3/75/the-road-to-no-where-20-2048.jpg?cb=1668500037)
![Fact of the matter ,[object Object],[object Object]](https://image.slidesharecdn.com/the-road-to-no-where-1234539516394645-3/75/the-road-to-no-where-21-2048.jpg?cb=1668500037)
![Resignation of Board members: Whats cooking? ,[object Object],[object Object],[object Object],[object Object],[object Object]](https://image.slidesharecdn.com/the-road-to-no-where-1234539516394645-3/75/the-road-to-no-where-22-2048.jpg?cb=1668500037)
![Resignation of Board members: What's cooking? ,[object Object],[object Object],[object Object]](https://image.slidesharecdn.com/the-road-to-no-where-1234539516394645-3/75/the-road-to-no-where-23-2048.jpg?cb=1668500037)
![End Lines ,[object Object],[object Object],[object Object],[object Object]](https://image.slidesharecdn.com/the-road-to-no-where-1234539516394645-3/75/the-road-to-no-where-24-2048.jpg?cb=1668500037)
![End Lines ,[object Object],[object Object],[object Object],[object Object]](https://image.slidesharecdn.com/the-road-to-no-where-1234539516394645-3/75/the-road-to-no-where-25-2048.jpg?cb=1668500037)
![References ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]](https://image.slidesharecdn.com/the-road-to-no-where-1234539516394645-3/75/the-road-to-no-where-27-2048.jpg?cb=1668500037)
![References ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]](https://image.slidesharecdn.com/the-road-to-no-where-1234539516394645-3/75/the-road-to-no-where-28-2048.jpg?cb=1668500037)
The Road To No Where
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Encouraged by the response to the first presentation, i am putting in my thoughts on the developments and probable future of Subhiksha as they happen. Essentially a sequel to my first presentation. Please feel free to share your comments and views with me
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The Road To No Where
- 1. The road to no where: Subhiksha Retail 13 th February 2009
- 2. Views expressed hereby are mine . I formed these views initially through interactions with Subhiksha on business levels and later through follow ups of the newspaper reports and conversations with sources from the industry and employees at Subhiksha. This is a follow up on my earlier presentation “The Anatomy of a Bust: Subhiksha Retail” http://www.slideshare.net/Manas.Ganguly/the-anatomy-of-a-bust
- 15. Option3: Was the money siphoned off? ???
- 18. Subramanian and his baby!
- 26. Thanks