You hear something, think about it for some time and then move on with your daily work! Isn’t it? How infrequently does it happen that you think of something so deeply that it becomes your true inspiration? You can’t help but feel proud when you think of it!
One of those moments is here where people are talking about an inspirational story that has led people to believe that if you have credence in yourself, you can do anything and everything. You can achieve your goal if you have a strong heart! Yes!!!! There are people who don’t need to say anything with words but prove with their actions about their success.
- MALAVIKA HEGDE!
When it’s a weekend or your day off and you feel like hanging out with your friends, what crosses your mind? Coffee, snacks? A perfect hour getaway? CCD (CAFE COFFEE DAY) is most of our “go-to Place/Cafe” to have a chill time. Well c’mon, let’s face it, CCD gives us one of the most homely vibes along with luscious snacks and delicious mouthwatering coffee. But how many of us are aware with the success story of Cafe Coffee Day? How many of us know what it took for the owners to bring CCD where it is today. MALAVIKA HEGDE IS A TRUE HEROIC EXAMPLE of a woman who faced the highest struggle but succeeded with shining colors.
2019 was the time when everyone thought that Cafe Coffee Day is going to shut down because of the news of its CEO VG SIDDHARTHA passing away due to a suicide. His suicide letter said that he is taking his life because of the debts he was in after he started CCD, that according to him was “not the perfect profitable business model”. He also mentioned how he was harassed by the income tax officers and that the pressure from the equity partners and other lenders was becoming unbearable for him.
After his untimely death, it was revealed that CCD as a company was under immoderate debt of around 7,000 Crores. Wasn’t it obvious for us to think that CCd is going to shut down?
BUT…. KICKING ALL THE RUMORS INTO THE BIN, entered MALAVIKA HEGDE! A heartbroken wife, and a single mom to 2 kids, who proved that with the right motivation, you can not only clear the debts, but also make CCD, one of the most successful franchises there ever has been. In 2020, Malavika Hegde took over as the CEO of CCD. She worked day and night to clear the debts and loans her husband had on him when he was alive. It is usually believed that when a person is in grief, he/she doesn’t even think properly but this woman! She never gave up!
She assured all the 25,000 employees working in the company that she will sell some of her investments in order to reduce the debts and she’ll ensure the future of the company is secure. True to her words, with the hard work, even in the lockdown days, she worked her days off. In an interview she said, “somewhere along the way in the last 12 months, my mission has been to uphold the proud legacy of Siddhartha. He has left me a job to do, to settle every lender to the best of my ability, to grow the business and to enthuse and foster our employees.”
- TO WHAT EXTENT DID SHE REDUCE THE DEBTS? WHAT DO THE REPORTS SAY?
According to the reports, CDEL had a debt of Rs 7,000 crore as of March 31, 2019. But as per CDEL’s statement in August last year, the management was working hard to get the firm back on track after “substantial” debt reductions. It had mentioned in its annual report that its net debt was Rs 1,731 crore as of March 31, 2021. The report read, “The total loan funds stood at Rs 1,779 crore which comprises long-term borrowings of Rs 1,263 crore and short-term borrowings of Rs 516 crore.”
The band brought down the debt to Rs 3,100 crore as of March 31, 2020, from Rs 7,200 crore in March 2019, without a single rupee haircut from lenders. As a result of Malavika’s initiative, Coffee Day’s debt burden was reduced to Rs 1,731 crore by 2021.
Isn’t this an achievement? Won’t you count this as a milestone? Malavika Hegde has a vision of taking Cafe Coffee Day to every corner of the country. It was because of Malavika Hegde that investors and lenders believed CCD was worth a preserver. Currently, Cafe Coffee Day (CCD) owns 572 cafes across the country, along with 333 CCD Value Express kiosks. It’s a huge business with over 36,000 vending machines serving coffee to CCD customers.
She totally stands up to the statement-
“A WOMAN SHOULD BE 2 THINGS: WHO SHE WANTS TO BE AND WHAT SHE WANTS TO BE!” Never underestimate your power and will to do anything you want, as long as it’s the right thing for you. Always believe in yourself and you are always good to go!