Ashutosh Kharangate Guiding MSMEs to Success through Mangal Analytics and Research Consulting (MARC)

Starting a business is a journey full of challenges, but scaling it can be an even greater ordeal, often leading to unforeseen issues. This is where entrepreneurs like Ashutosh Kharangate step in to provide valuable guidance. As the founder of Mangal Analytics and Research Consulting (MARC), Ashutosh is on a mission to empower MSMEs (Micro, Small, and Medium-sized Enterprises) with the knowledge and insights they need to thrive.

A Vision Born from Experience:

Ashutosh’s journey into the world of business consulting began when he was just 26 years old. Prior to founding MARC, he had a stable job at PricewaterhouseCoopers (PwC), a leading multinational professional services firm. It was during his tenure at PwC that he realized the crucial role played by MSMEs in supporting larger businesses, either through the supply of raw materials, logistics, or services.

However, Ashutosh also noticed that the MSME sector faced significant challenges, particularly in terms of infrastructure and the ability to scale up effectively. This realization fueled his ambition to make a difference in this space.

Building MARC: Transforming MSMEs

In 2011, Ashutosh took the bold step of leaving his corporate job to start MARC. The company, headquartered in Goa, is dedicated to helping MSMEs transform and succeed by identifying and addressing their specific business challenges.

With a team of 28 dedicated employees, MARC serves around 250 SME clients and 50 large enterprises. The company’s holistic approach goes beyond traditional financial consulting, offering a wide range of services, including project feasibility studies, market research, finance analytics, and guidance on mergers and acquisitions.

Solving Real Problems with Real Data:

One of MARC’s remarkable success stories involves its collaboration with Astra Metal Systems, a precision sheet metal components manufacturer. Facing losses for the first time in 2012-13, Astra sought MARC’s expertise to pinpoint the root causes.

MARC conducted an extensive data analysis, despite the common challenges of limited data availability and poor data quality in SMEs. Through rigorous research, MARC uncovered critical insights, such as certain products within Astra’s portfolio operating at a loss. Armed with this data, MARC made a compelling case to Astra’s clients, leading to price corrections that helped the company regain profitability.

Additionally, MARC identified breaches in Astra’s internal controls and established a management information system (MIS) to enable real-time performance tracking. This proactive approach allowed Astra to take immediate corrective actions, ensuring financial stability.

Diversifying to Thrive:

The COVID-19 pandemic presented unique challenges for businesses worldwide. Rather than focusing solely on demand, MARC took the opportunity to strengthen its supply-side capabilities. The company diversified into new product categories, including wardrobes, outdoor furniture, internal doors, and paneling.

MARC also launched Bizpally, a free DIY fintech platform designed to enhance financial literacy among entrepreneurs and startups. This innovative tool assists users in understanding profit and loss statements, cash flow, valuation, and more. Furthermore, Bizpally offers information on relevant startup schemes, state policies, and connections to potential angel investors.

Championing Financial Literacy:

Ashutosh firmly believes that investing in research and analytics is essential for MSMEs to gain valuable insights and operate effectively in their respective sectors. However, the challenge lies in convincing businesses to embrace consulting services and share their financial data.

Ashutosh’s dedication to empowering MSMEs extends beyond his business ventures. He actively mentors entrepreneurs through programs at 91 Springboard and BITS Pilani, fostering growth and knowledge-sharing in the startup ecosystem.

A Global Vision with Local Values:

As MARC continues to make a significant impact in India, Ashutosh has his sights set on global expansion while maintaining the brand’s commitment to local values. He envisions MARC becoming a “glocal” brand—a trusted partner for entrepreneurs navigating the complexities of scaling up their businesses.

In a world where multinational corporations are well-networked, Ashutosh aims to make MARC the go-to destination for MSMEs and small businesses in need of guidance and support. His mission is to ensure that these businesses not only survive but thrive, contributing to India’s economic growth.

Through his unwavering dedication to financial literacy and business transformation, Ashutosh Kharangate is helping MSMEs turn challenges into opportunities, one step at a time.