Khimji Ramdas, one of the oldest conglomerates in Oman, prioritised cash management and efficient payment collection to safely navigate through the challenges of COVID-19 crisis.
Founded in 1870, diversification has always been one of the key growth factors for Khimji Ramdas. Its activities span across several sectors including fast moving-consumer goods, retail and luxury product distribution to marine construction, travel and logistics. 2020 also marks the 150th year of existence for Khimji Ramdas in Oman.
"We were on top of cash flow management on a daily basis, making sure we have a proper collection mechanism,” says Amit Tandon, Group CFO at Khimji Ramdas.
"We were sufficiently stocked at all times to ensure that there were no shortages.” he says.
While lockdowns troubled distribution overall, some other parts of its business, especially grocery retail, gained a lot of momentum.
The restaurant industry was severely impacted. However focus on home deliveries of food softened the blow.
Similarly, the Travel and Tourism business was also hit, but the advent of chartered repatriation flights saw the businesses mitigating the adverse effects of the pandemic to a large extent
Although its capital expenditure has been sluggish this year due to the pandemic, Khimji Ramdas was still able to make investments related to its marine construction business.