Brands
Eastern Condiments to spend Rs 20-25 crore on marketing and selling expenses
BENGALURU: Indian spice powder manufacturer and exporter Eastern Condiments (ECPL) plans to spend between Rs 20 to 25 crore towards marketing and selling expenses during this fiscal.
The company recently brought on board FCB Ulka as its creative agency. It also has a special arrangement with the agency for media buying.
“Unlike most other condiments brands, we plan to target rural India, because we see a big opportunity there. As disposable incomes go up in tier II and tier III cities, and more and more family members seek employment, even rural India will have no time to buy the condiments and then spend time processing them for kitchen use. We already see it starting to happen with edible oils and wheat flour,” reveals EPCL managing director Navas Meeran.
Initially, though the push will be BTL, the company is chalking out plans for TV spots on channels like Asianet and Manorama in its home state Kerala. Media plans will be drawn for television commercials in states like Karnataka, Andhra Pradesh, Maharashtra and Uttar Pradesh, the main TG for the company for now. Other states that the company plans to target are Haryana, Punjab as also pan-India.
ECPL’s revenue last fiscal was Rs 560 crore, of which Rs 150 crore came through exports, Rs 125 crore from Kerala and the balance across various markets in India. Karnataka, which contributed Rs 70 crore to ECPL’s revenues is an important market for the company. To that extent, it launched three spice mix flavours that are a part of the staple food in the state – Vangi Bath, Bisibele Bath and Puliogare Bath.
“We will have campaigns in the state for these new products,” said ECPL’s other managing director Firoz Mareen. “These products are more to the local tastes and media plans are under process for a campaign here. In spices and condiments we are already the number three player.”
A few years ago, McCormick & Company, the US-based global leader in spices, herbs and flavourings picked up a 26 per cent stake in ECPL. “McCormick estimated the branded and the non-branded size of the spice and condiments market in India as Rs 45,000 crore,” reveals a source at ECPL. “The approximate size of the organized branded market is about $ 1 billion (about Rs 6000 crore),” adds the source.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
