The Famous Fireworks Industries 2020

Abstract

The Famous Fireworks Industries was established by Rathinam at 1976. The company was based on fireworks manufacture and retail. It was such a flourishing and successful business in Sivakasi. After few years, the business was succeeded by one of Rathinam’s sons - Koman at 1990. When he came into power, he started exporting Fireworks to different states and cities of India. This made the business more flourishing and recognizable within India. Lately with a highly increasing air pollution rate, the local government placed a ban on the production of fireworks on November 2018. This brought a heavy loss to the company. Then on March 2020, due to the threat of Corona Virus, the government of India placed a ‘Country Lockdown’ procedure to stop the spread virus. This took the company to almost bankruptcy. Koman looking at the huge decline of his business financial and operational performance was uncertain whether his company will be able to reach its expected sales & profit margins this year. He was also worried about what would happen to his son’s future if he let them succeed his dying business.

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