Finolex Industries Ltd (FIL), India’s largest manufacturer of rigid PVC Pipes & Fittings took a slew of initiatives to reassure employees, dealers and associates amid the lockdown that has taken a toll on businesses.
In a first of its kind initiative, FIL has increased the Turnover Discount Scheme (TOD) across its dealer network which is in addition to the TOD that the company pays to incentivise its dealer network. This was the result of week-long deliberations that the company had with its dedicated network of dealers and employees based across the country. The company has a network of over 18,000 retailers, dealers and sub-dealers.
The additional TOD is being paid to the dealers who have achieved their target and for those who could not, will be paid a token amount as gratitude to cushion the impact of the challenging business environment.
Second, to reassure employees, the company has taken a progressive step by not deducting staff salaries. This gesture was widely appreciated by employees across the rank and file of the organization.
Speaking on these initiatives, FIL Chairman, Mr. Prakash P. Chhabria, said, “The success of Finolex is the result of the hard work and excellence of our partners—dealers and retailers, and our skilled workforce who have delivered the finest products in the industry. We as a company will stand shoulder-to-shoulder with them and have reassured them of our commitment.”
FIL is also known for its philanthropic initiatives and during the lockdown, their CSR partner Mukul Madhav Foundation rose to the occasion and handed over PPE suits, ventilators, disinfectants, grocery kits and other essential commodities to hospitals and organizations.
The lockdown also disrupted the lives of the most vulnerable sections of the society namely the migrants and the daily-wage workers and the foundation extended all possible support to them in Pune.
Mr Chhabria added, “this was our way of extending support to the needy who had no other hope in such difficult times.”
Finally, In the midst of this pandemic, the company never lost sight of its shareholders and paid a dividend in the month of March this year.
Overall the company lived up to its commitment as laid down by its founder, the late Mr Pralhad P. Chhabria who would always say that one has to look for opportunities to help people even if that service demands sacrifice.